USAS User’s Manual –
Chapter 15 – Month-End Closing/Reconciliation
Select Reports for Reconciling
About These Reports
Reports should be requested on the first Friday after the close of the month reconciled.
The following are the suggested reports to use when reconciling. However, the format of an agency’s internal system and reports will determine which reports to order in USAS.
| DAFR | Report Name | Summary or Activity Information | Frequency/Control or Requestable | Purpose |
|---|---|---|---|---|
| 2221 | Transactions Aging | Activity | Daily Control | Displays outstanding batches on the IT file |
| 2261 | Daily History Detail | Activity | Daily Control | Displays transactions posted by batch agency |
| 7450 | Appropriation Detail for Lower Level | Activity | Monthly Requestable | Lower level reconciling (prgm, fund) Similar to the Cost Center Detail report in FACTS |
| 7460 | Appropriation Activity Detail | Activity | Monthly Requestable | Appn & appn fund level reconciling of rem cash budget & appn cash available To be used with DAFR7550 |
| 7470 | Appropriation Activity Detail | Activity | Monthly Requestable | Lower level reconciling (org, prgm, fund) To be used with DAFR7480 |
| 7480 | Appropriation Activity Summary | Summary | Monthly Requestable | Lower level reconciling (org, prgm, fund) To be used with DAFR7470 |
| 7490 | Appropriation Trial Balance | Summary | Weekly, Monthly Requestable | Appn & appn fund level reconciling of rem cash budget & appn cash available To be used with DAFR7500 |
| 7500 | Appropriation Activity Analysis | Activity | Monthly Requestable | Appn & appn fund level reconciling To be used with DAFR7550 |
| 7550 | Appropriation Summary | Summary | Daily, Weekly, Monthly Requestable | Appn & appn fund level reconciling To be used with DAFR7500 |
| 8200 | Daily Transaction Register | Activity | Daily | Listing of posted transactions (error-free but not necessarily released, approved, or paid) |
| 8240 | Monthly Transaction Register | Activity | Monthly | Listing of posted transactions (error-free but not necessarily released, approved, or paid) |
| 8660 | Fund Cash History by Agency including Shared Funds | Activity | Monthly | Controlling agencies to reconcile Shared Cash |
Other Reconciliation-Related Information
With the implementation of USAS, concepts, data elements, reports, and data files have changed – necessitating procedural changes.
File Retention
All supporting documentation must be kept in files. This includes the schedules, reports, and reconciliation forms used during the reconciliation. Adequate documentation to satisfy an external audit must be retained.
Retention Period
Retention of reconciliation documents needs to be consistent with an agency’s requirements for other accounting records, such as support for payments, journal vouchers, and general ledger subsidiary ledgers. However, information must be retained at a minimum of three years or until audited by the State Auditor’s office.
Completion of Reconciliations
General policies should ensure that each month is reconciled no later than the following month’s end. This includes posting reconciling adjustments and corrections. Fiscal year amounts should be reconciled no later than September 30.
Reconciling Items
There are three types of reconciling items:
- Timing differences
- Unposted transactions
- Erroneous postings
Reconciling items should be cleared and posted no later than the following month’s end or soon after completion of the reconciliation. However, not all reconciling items need to be posted (for example, timing differences).
Timing Differences
Timing differences occur when transactions post to the agency’s system in one period but post to USAS in a different period. An example would be a deposit that was posted to the agency’s system on September 30, but posted in USAS on October 1.
Timing differences will clear after being posted in subsequent months. Therefore, they require no further action.
Unposted Transactions
Unposted transactions are documents posted to one system but not the other (that is, returned checks posted in USAS but not to the agency’s records). Unposted transactions result from an error or lack of documentation.
Unposted transactions need to be posted to the applicable system.
Erroneous Postings
Erroneous postings of transactions or amounts can have many causes, such as double entry of the same document to one system, an incorrect amount entered in either USAS or the agency’s accounting system, or the wrong coding block entered into one system. These postings need to be corrected and adjustments posted to the applicable system.
The type of error determines the correction needed and the document type used in USAS:
- Duplicate payments for the same invoice require a warrant cancellation (doc type C).
- ITV corrections require a journal voucher (doc type J).
- Incorrect coding block postings can be made on a journal voucher (doc type J, excluding corrections where the document produced a payment).
- Incorrect coding block posting on transactions that create a payment can be made on an expenditure transfer voucher (doc type K).