| Compensation
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PAO 9-4-10
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ACCOUNTING AND REMITTANCE
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| Subsection:
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PAO ADMINISTRATION--GENERAL ACCOUNT ROLLOVER--CDFS SYSTEM PROCESS
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OUTLINE
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The following describes how the Common Departmental Financial
System (CDFS) performs the rollover process:
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Old year General Ledger (GL) Account closing balances for
Asset, Liability, and Equity are rolled into their related New Year account's
opening balance amounts. an Old Year account may roll into a different client,
GL entity or GL account, and each account will have a separate field for
the opening balance.
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Note that the Credit and Debit of each net amount will be
different; Example: if total of assets + liabilities = 10 debits, then total
equity should be 10 credits. If the amounts are not equal, a message(s)
will be displayed on the rollover report with the amounts detailed and the
process will terminate as unsuccessful.
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| NOTE:
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All control account balances must be transferred to
the designated liability account prior to the rollover.
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Audit reports of all updates to the New Year GL Accounts
and their related Sub-ledger Accounts, where applicable are provided. The
reports are in New Year GL Account sequence. Refer to the CDFS- System Manager's
Guide, Chapter 9 for more detailed information.
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Last Update: March 1999
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