Lesson 3: Error Correction

Overview

This lesson describes the process required in correction of pass-through expenditures/expenses and revenues.

The first section covers:

• Entries needed to correct the pass-through expenditures/expenses by describing:
  • Entries required to correct blank/incorrect AGL or COBJ
  • Essential steps to correct an incorrect GAAP fund/D23 fund

The second section covers:

• Entries needed to correct the pass-through revenues by describing:
  • Entries required to correct blank/incorrect AGL and incorrect COBJ
  • Essential steps to correct an incorrect GAAP fund/D23 fund

Next: Correction of State Pass-Through Expenditures/Expenses