1.31.7 Operating Procedures for the Custodial HQ Accounting Section in the National Headquarters Office

Manual Transmittal

March 30, 2022

Purpose

(1) This transmits revised IRM 1.31.7, CFO Internal Policy and Procedures, Operating Procedures for the Custodial HQ Accounting section in the National Headquarters Office.

Material Changes

(1) IRM 1.31.7, changed IRM title to reflect reorganization in FY 2021.

(2) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.1.7 - Acronyms. Updated subsection to add new acronym COVID to reflect Coronavirus in table.

(3) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.2.7.1.4 - Menu Options. Updated subsection to include COVID Stimulus SurplusWar and COVID Resp SurplusWar.

(4) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.2.7.1.5 - Other Options. Updated subsection to include COVID Stimulus and COVID Response.

(5) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.2.7.3.1.4 - Intra-governmental Payment and Collection Territorial Additional Child Tax Credit (Journal Number 036). Updated Maintain Journal Entry subsection to include IPAC COVID Stim Tryt, IPAC COVID Resp Trty and IPAC Covid EMP Reten Trty.

(6) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.2.7.3.7 - Super Windows. Added account number 0505 for account name Sup 224 COVID Stim US and Sup 224 DwnADjCVDStimUS for TAS 20X0905.

(7) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.2.7.3.7 - Super Windows. Added account number 0736 for account name Sup 224 Disb CVD EMPRetUS and Sup 224 DwnAdjCVDEMPRetUS for TAS 20X0936.

(8) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.2.7.3.7 - Super Windows. Added account number 0936 for account name Sup 224 COVID Response US and Sup 224 DwnAdj CVD RespUS for TAX 20X0936.

(9) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.2.7.3.7 - Super Windows. Added account number 0836 for account name Sup 224 CVDRespCRElectUS for TAS 20X0936.

(10) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.2.7.3.7 - Super Windows. Added account number 8436 for account name Sup 224COVID Resp OffUS for TAS 20X0936.

(11) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.2.7.3.7 - Super Windows. Added account number 8636 for account name Sup 224 CVDEmpRetCRElectUS for TAS 20X0936.

(12) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.2.7.3.7 - Super Windows. Added account number 8736 for account name Sup 224CVDEmpRetOffsetUS for TAS 20X0936.

(13) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.1 - List of Headquarters Journal Posting Numbers. Updated section to include 094 COVID Response Reclass, 095 COVID Response Warrant.

(14) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.2 - List of Headquarters Account Numbers. Updated subsection language in chart to remove the ledger name HQ Warrant, Rebate and add the ledger name HQ Warrant, COVID Stimulus US for Account Number 0005.

(15) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.2 - List of Headquarters Account Numbers. Updated subsection to add HQ Warrant, COVID Response US for Account Number 0036.

(16) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.2 - List of Headquarters Account Numbers. Updated subsection to add HQ Surplus Warrant, COVID StimulusUS for Account Number 0205.

(17) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.2 - List of Headquarters Account Numbers. Updated subsection to add HQ Surplus Warrant, Response US for Account Number 0236.

(18) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.2 - List of Headquarters Account Numbers. Updated subsection to add HQ Disb, COVID Stimulus US for Account Number 0505.

(19) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.2 - List of Headquarters Account Numbers. Updated subsection to add HQ Disb, COVID Stimulus Territories for Account Number 0605.

(20) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.2 - List of Headquarters Account Numbers. Updated subsection to add HQ Disb, COVID Response Territories for Account Number 0636.

(21) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.2 - List of Headquarters Account Numbers. Updated subsection to add HQ Disb, COVID Emp Retention US for Account Number 0736.

(22) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.2 - List of Headquarters Account Numbers. Updated subsection to add HQ Disb, COVID Emp Reten Territories for Account Number 0836.

(23) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.2 - List of Headquarters Account Numbers. Updated subsection to add HQ Disb, COVID Response US for Account Number 0936.

(24) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.2 - List of Headquarters Account Numbers. Updated subsection language in chart to remove the ledger name HQ Disbursement, Rebate to reflect the ledger name HQ Disb, COVID Stimulus US for Account Number 1905.

(25) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.2 - List of Headquarters Account Numbers. Updated subsection to add HQ Disb, COVID Response US for Account Number 1936.

(26) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.2 - List of Headquarters Account Numbers. Updated subsection to add HQ Expense COVID Response US for Account Number 5645.

(27) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.2 - List of Headquarters Account Numbers. Updated subsection to add HQ Expense COVID StimulusTerritories for Account Number 5666.

(28) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.2 - List of Headquarters Account Numbers. Updated subsection to add HQ Expense COVID Resp Territories for Account Number 5667.

(29) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.2 - List of Headquarters Account Numbers. Updated subsection to add HQ Expense COVID EMPRetenTerritories for Account Number 5668.

(30) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.2 - List of Headquarters Account Numbers. Updated subsection to add COVID Response US Credit Elect for Account Number 8336.

(31) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.2 - List of Headquarters Account Numbers. Updated subsection to add COVID Response US Offset for Account Number 8436.

(32) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.2 - List of Headquarters Account Numbers. Updated subsection to add COVID Emp Retention US Credit Elect for Account Number 8636.

(33) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.2 - List of Headquarters Account Numbers. Updated subsection to add COVID Emp Retention US Offset for Account Number 8736.

(34) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.3 - United States Standard General Ledger Accounts. Updated subsection to add USSGL account 4119007000, OthAppReal COVID Resp.

(35) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.3 - United States Standard General Ledger Accounts. Updated subsection to add USSGL account 4119008000, OthAppReal COVID EmpRet.

(36) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.3 - United States Standard General Ledger Accounts. Updated subsection to add USSGL account 4119009000, Oth Appro Real COVID Stim.

(37) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.3 - United States Standard General Ledger Accounts. Updated subsection to add USSGL account 4201007000, TotActReColl COVID Resp.

(38) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.3 - United States Standard General Ledger Accounts. Updated subsection to add USSGL account 4201008000, TotActReColl COVID EmpRet.

(39) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.3 - United States Standard General Ledger Accounts. Updated subsection to add USSGL account 4201009000, TotActReColl COVID Stim.

(40) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.3 - United States Standard General Ledger Accounts. Updated subsection to add USSGL account 4391007000, AdjIndefNoYrAuthCOVIDResp.

(41) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.3 - United States Standard General Ledger Accounts. Updated subsection to add USSGL account 4391009000, AdjIndefNoYrAuthCOVIDStim.

(42) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.3 - United States Standard General Ledger Accounts. Updated subsection to add USSGL account 4620001000, UnobFndExApCOVIDStimUS.

(43) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.3 - United States Standard General Ledger Accounts. Updated subsection to add USSGL account 4620002000, UnobFnExApCOVIDStim Trty.

(44) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.3 - United States Standard General Ledger Accounts. Updated subsection to add USSGL account 4620003000, UnobFnExApCOVID RespUS.

(45) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.3 - United States Standard General Ledger Accounts. Updated subsection to add USSGL account 4620004000, UnobFnExApCOVIDRespTrty.

(46) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.3 - United States Standard General Ledger Accounts. Updated subsection to add USSGL account 4620005000, UnobFnExApCOVIDEmpRetUS.

(47) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.3 - United States Standard General Ledger Accounts. Updated subsection to add USSGL account 4620006000, UnobFnExApCOVIDEmpRetTrty.

(48) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.3 - United States Standard General Ledger Accounts. Updated subsection to add USSGL account 4902001000, DelOrdOblCOVIDStimUS.

(49) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.3 - United States Standard General Ledger Accounts. Updated subsection to add USSGL account 4902002000, DelOrdOblCOVIDStimTrty.

(50) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.3 - United States Standard General Ledger Accounts. Updated subsection to add USSGL account 4902003000, DelOrdOblCOVIDRespUS.

(51) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.3 - United States Standard General Ledger Accounts. Updated subsection to add USSGL account 4902004000, DelOrdObl COVIDResp Trty.

(52) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.3 - United States Standard General Ledger Accounts. Updated subsection to add USSGL account 4902005000, DelOrdOblCOVIDEmpRetUS.

(53) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.3 - United States Standard General Ledger Accounts. Updated subsection to add USSGL account 4902006000, DelOrdOblCOVIDEmpRetTrty.

(54) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.3 - United States Standard General Ledger Accounts. Updated subsection to add USSGL account 4972001000, DownwardAdj COVID StimUS.

(55) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.3 - United States Standard General Ledger Accounts. Updated subsection to add USSGL account 4972003000, DownwardAdj COVID RespUS.

(56) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.3 - United States Standard General Ledger Accounts. Updated subsection to add USSGL account 4972005000, DwnAdj COVID EmpRetentUS.

(57) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.4 - Treasury Account Symbols. Updated subsection General Fund to add U.S. Coronavirus Payments Treasury Appropriation Symbols 20X0905.

(58) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.4 - Treasury Account Symbols. Updated subsection General Fund to add U.S. Coronavirus Refundable Credits Treasury Appropriation Symbols 20X0936.

(59) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.4 - Treasury Account Symbols. Updated subsection Disbursement Accounts to add Coronavirus Payments Treasury Appropriation Symbols 20X0905.

(60) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.4 - Treasury Account Symbols. Updated subsection Disbursement Accounts to add Coronavirus Refunds Treasury Appropriation Symbols 20X0936.

(61) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.6 - Inactive Journals. Updated Section (d) subsection language in chart to remove the journal name Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) to reflect the journal name COVID Response Warrant for (Journal Number 095).

(62) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.6 - Inactive Journals. Updated Section (e) subsection language in chart to remove the journal name COBRA Surplus Warrant to reflect the journal name COVID Resp SurplusWarr for (Journal Number 096).

(63) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.6 - Inactive Journals. Updated Section (f) subsection language in chart to remove the journal name COBRA to reflect the journal name COVID Response for (Journal Number 094).

(64) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.6 - Inactive Journals. Updated Section (f) to remove the ledger name HQ Disbursement, Cobra to reflect HQ Disb COVID Response US for account number 0936, added account numbers 8336, COVID Response CR Elect US, 8436 COVID Response Offset US, 0736 HQ Disb CVD EMP Reten US, 8636 EMP Retention CR Elect US, 8736 EMP Retention Offset US, 0936 DwnrdAdj CVD Response US, 0903 HQDisbursement, Principal, 0736 Dwn Adj CVD EMP Reten US.

(65) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.6 - Inactive Journals. Updated Section (f) to remove the ledger name COBRA to reflect COVID.

(66) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.6 - Inactive Journals. Updated Section (m) to remove the ledger name Rebate Warrant to reflect COVID Stim Warrant for (Journal Number 066).

(67) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.6 - Inactive Journals. Updated Section (n) to remove the ledger name Rebate to reflect COVID for (Journal Number 065).

(68) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.6 - Inactive Journals. Updated Section (0) to remove the ledger name Economic Stimulus Rebate to reflect COVID Stimulus Reclass (Journal Number 064).

(69) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.6 - Inactive Journals. Updated Section (0) to remove the account name HQ Individual to reflect Disbursement Principal.

(70) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.6 - Inactive Journals. Updated Section (0) to remove the account number 0922 to reflect the change to the account number 0505, and the account name change from Child Credit Disbursement to Dwnrd Adj COVID Stim US.

(71) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.6 - Inactive Journals. Updated Section (0) to remove the account number 0905 to reflect the change to the account number 0505, and the account name change from HQ Disbursement, Rebate to COVID Stimulus US.

(72) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.6 - Inactive Journals. Updated Section (0) to remove Economic Stimulus Rebate Reclass module for Treasury to reflect the change to COVID Stimulus Reclass Module.

(73) IPU 20U0899 issued 08-11-2020 IRM 1.31.7.4.6 - Inactive Journals. Updated Section (0) to remove TAS symbol 20X0922 to reflect the change to 20X0936.

(74) IRM 1.31.7.4.3, List of HQ Year End Processing Accounts, added a new chart to reflect the following accounts 0505, 0605, 0636, 0736, 0836, 5666, 5667, 5668, 8336, 8436, 8636, 8736.

(75) Previous IRM 1.31.7.2.7.3.5.21(2) Disaster Tax Relief Payment, deleted reference to IRM 3.17.50.5.16.

(76) Minor editorial changes were made throughout the IRM.

Effect on Other Documents

IRM 1.31.7, dated March 25, 2020, is superseded. The following IPUs are incorporated into this IRM: IPU 20U0899 issued from August 2020.

Audience

These procedures are primarily for the staff in the Custodial HQ Accounting section of the Chief Financial Officer Organization.

Effective Date

(03-30-2022)

Anthony S. Chavez
Associate Chief Financial Officer, Financial Management

Program Scope and Objectives

  1. Purpose: This IRM provides background information, objectives and standards for the Redesigned Revenue Accounting Control System (RRACS). This IRM also contains procedural steps for the Custodial HQ Accounting section to use when entering data into RRACS, as well as procedures relating to system security, research, balancing, data entry and data source location.

  2. Audience: The Custodial HQ Accounting section uses, develops and maintains this IRM.

  3. Policy Owner: CFO

  4. Program Owner: Associate CFO, Financial Management

  5. Primary Stakeholders: The primary stakeholders are employees who utilize RRACS data.

  6. Program Goals: The goal of this IRM is to provide guidance to ensure the accuracy of data entered into RRACS.

Background

  1. The Budget and Accounting Procedures Act of 1950, further amended in 2005 by the Federal Manager's Financial Integrity Act, assigned the heads of executive agencies the responsibility for establishing and maintaining adequate systems of accounting and internal controls.

  2. The accounting systems and associated internal controls are designed to ensure compliance with administrative and legal requirements of the IRS, the Treasury Department, the Government Accountability Office (GAO), and the Office of Management and Budget (OMB).

Authorities

  1. 31 USC section 3512: Executive agency accounting and other financial management reports and plans.

  2. Pub. L. No. 97–255, Federal Managers’ Financial Integrity Act (FMFIA).

  3. GAO Policy and Procedures Manual for Guidance of Federal Agencies.

Responsibilities

  1. This section provides responsibilities for:

    1. CFO and Deputy CFO

    2. Associate CFO for Financial Management

    3. Deputy ACFO for Custodial Financial Management

    4. Director, Custodial Accounting

    5. Chief, Custodial HQ Accounting section

    6. Chief, Custodial Reporting

    7. Custodial HQ Accounting section staff

CFO and Deputy CFO
  1. The CFO and Deputy CFO are responsible for establishing financial policy for the management and reporting of the custodial assets.

Associate CFO for Financial Management
  1. The Associate CFO for Financial Management is responsible for establishing, maintaining and ensuring compliance with custodial revenue policy and procedures for internal accounting operations and financial reporting, and provides direction on financial management; ensures financial products are properly presented and maintained; and financial systems are compliant with federal standards.

Deputy Associate CFO for Custodial Financial Management
  1. The Deputy Associate CFO for Custodial Financial Management ensures proper accounting and timely reporting of IRS custodial activities.

Director, Custodial Accounting
  1. The Director, Custodial Accounting ensures compliance with federal financial management and reporting activities related to CA and is responsible for the internal/external reporting requirements and the preparation of the monthly/annual financial statements.

Chief, Custodial HQ Accounting
  1. The Chief, Custodial HQ Accounting section, coordinates custodial revenue accounting activities focusing on CFO headquarters and CFO RACS unit accounting transactions and reconciliations.

Chief, Custodial Reporting
  1. The Chief, Custodial Reporting section, compiles and prepares the IRS Statement of Custodial Activity to present to Treasury, Congress and GAO with accurate tax revenue receipt and disbursement activity administered by the IRS.

Custodial HQ Accounting
  1. The Custodial HQ Accounting section staff serve as database administrators (DBAs) and have access to the RRACS DBA main menu(s).

  2. Each DBA is responsible for:

    1. Accepting responsibility for a password to the DBA menu.

    2. Exercising extreme caution when changing database information.

    3. Correcting records containing identification and status errors.

    4. Ensuring the default account period is properly set.

    5. Ensuring all assigned journals are complete prior to initiating month-end closing.

    6. Verifying the accuracy and completeness of accounting data.

    7. Monitoring all RRACS electronic data input and output and making all necessary reversals.

    8. Establishing and maintaining up to date procedures for end of month (EOM).

      Note:

      To maintain EOM procedures, the HQ Accounting analyst will review prior procedures; use the track changes feature for any updates; share the updated procedures with the Custodial HQ Accounting, Chief and save a copy of the final update.

    9. Reviewing database lists for invalid entries, and initiating corrective action as necessary.

Program Management and Review

  1. Program Reports: RRACS is the main source for accounting information in the IRS and Standard General Ledger (SGL) accounts. Data entered in RRACS may also be received from external sources and agencies.

  2. Program Effectiveness: Any data entered in RRACS or Treasury (CARS) is saved and reviewed for accuracy, including documentation that supports the entry. RRACS reports can also be generated to ensure balancing.

Program Controls

  1. The Redesigned Revenue Accounting Control System provides accounting control for all revenue and refund transactions. The database consists of general ledger accounts that is maintained in systems located at the Enterprise Computing Center/Martinsburg Computing Center (ECC/MCC) and the RRACS database also stores transactions for researching, balancing accounts and generating reports.

System Objectives
  1. The system is designed to meet the following Treasury Department objectives:

    1. Full disclosure of the financial results of operations through an orderly system of controlling and recording financial transactions on an accrual basis.

    2. Effective control over and accountability for funds, property and other assets, obligations, liabilities, expenditures, costs and revenues.

    3. Production of adequate and timely financial reports to meet the needs and objectives of internal management and to comply with external requirements.

    4. Production of reliable data for budget reporting to the Treasury Department, OMB and other stakeholders.

    5. Coordination of accounting with the Treasury’s planning, programming, budgeting, and statistical reporting functions, including consistent classifications of data.

    6. Development of cost data for use in measuring results of operations and performance of functions.

    7. Compliance with statutory and Joint Financial Management Improvement Program core financial system requirements.

Internal Controls
  1. Management has the responsibility for providing a system of internal accounting controls to ensure compliance and sound financial management.

  2. Management can help achieve an adequate level of internal control by assigning operating responsibilities to individual employees, establishing employee training program incentives and rotating or reviewing transactions deemed essential.

  3. Controls must be integrated into daily operations to ensure that basic documents are accurate and transactions are entered correctly into the system. Internal accounting control has the following four basic elements:

    1. No one individual or group should have exclusive control over any transaction.

    2. Neither custodianship nor operating responsibilities should be confined to the person who is responsible for record keeping.

    3. Every internal check or accounting control must meet tests of practicality. It should not discourage employee responsibility, close the door on individual judgment, nor result in an added operating cost that is disproportionate to risks.

    4. Internal controls should be maintained in a dynamic state. Periodically, existing controls should be reevaluated and if necessary, reconstructed in harmony with changing conditions. Reevaluation of internal controls is especially important in CA activities due to tax system modernization components under development.

  4. Adequate control in Custodial Accounting involves ensuring that all revenues are recorded but also provides an adequate basis for making sure the government collects tax liabilities due. The revenue accrual basis of accounting ensures this result by establishing accounting control at the time revenues are collectible or received.

  5. The control over assets recorded in the general ledger accounts must ensure that these assets remain in the possession of the government. Adequate measures are taken for their preservation, and assets are not written off or otherwise disposed of without proper authorization and follow-up where appropriate.

Internal Control Objectives
  1. The following are basic internal control objectives as defined by the GAO in standards for internal controls in the federal government, (GAO-14-704G, September 2014). The internal controls should ensure:

    1. Effectiveness and efficiency of operations including the use of the entity's resources.

    2. Reliability of financial reporting, including reports on budget execution, financial statements, and other reports for internal and external use.

    3. Compliance with applicable laws and regulations.

    4. The five principles of internal controls include: Monitoring; Information and Communication; Control Activities; Risk Assessment and Control Environment.

      Note:

      For more information on the five principles of internal control, see the GAO website: https://www.gao.gov/products/GAO-14-704G.

Internal Control Standards
  1. While management has the primary responsibility for providing a system of internal controls, all personnel have a responsibility for understanding and ensuring internal controls are functioning as intended and adhered to.

  2. To assist the Custodial HQ Accounting section staff in carrying out internal control responsibilities, a condensed version of the key standards of internal control developed by the GAO are as follows:

    1. Documentation. The operation of the function, system or project is clearly described in writing. Documentation describes what goes in the system, how it is processed and what is to come out.

    2. Records of Transactions. Important events or transactions are promptly recorded and classified in accordance with documented procedures.

    3. Execution of Transactions. Events or transactions are authorized and executed only by persons with authority to do so.

    4. Separation of Duties. Key duties and responsibilities in authorizing, processing, recording, and reviewing transactions are separated among individuals.

    5. Supervision. Qualified supervision is provided.

    6. Competent Personnel. Managers and employees are knowledgeable, have professional integrity, and receive adequate training to complete assigned work.

    7. Accountability for Resources. Records are kept to showing custody and use of resources. The records are periodically reviewed to determine reliability.

    8. Audit Resolution. Actions are taken for agreed to recommendations resulting from the TIGTA, or GAO reviews.

  3. Each employee should review the above standards, apply them when appropriate, and implement the following actions if accordingly:

    1. Make changes where possible or recommend the change to management if weaknesses are identified.

    2. Look for indicator of control weaknesses during Quality Improvement Projects.

    3. Include reviews or reports of employees, managers, TIGTA, and the GAO in determining the adequacy of controls.

    4. Look at the conclusions of any reviews or reports and consider how application of the internal control standards might correct an identified problem.

  4. To illustrate, internal controls used in RRACS include:

    1. The double entry system for general ledger accounts and periodic trial balances.

    2. The use of control accounts or memorandum records when prescribed to ensure the accuracy of subsidiary or individual records maintained in the operating units of the service.

    3. Follow up, by responsible supervisory personnel, of error situations, imperfections in operating methods, or changes in operations requiring alterations resulting from instructions from HQ or other IRS offices.

    4. HQ management responsibilities have internal checks to meet special local conditions.

    5. All supervisory personnel are cautioned to avoid redundancies in costly checking, verifying, and balancing accounting summaries with supporting documents.

Central Accounting Reporting System
  1. The Central Accounting Reporting System (CARS) is a Fiscal Service effort to manage financial and accounting information across federal program agencies.

  2. CARS records Treasury Account Symbol (TAS) information for payments, deposits, and intra-governmental transactions.

  3. The HQ Agency Location Code (ALC) 20096500 is a CARS Reporter for the Intra-governmental Payment and Collection System (IPAC) system. All IPACs to the HQ ALC are sent to CARS in real time and do not have to be reported on the SF 224 (Statement of Transaction) at month end.

  4. HQ uses the CARS Reclassification Module in Treasury to report all re-classes. The reclassification module is a way to capture re-classes on a real time basis, instead of waiting for the end of the month. The reclassification module replaced the SF 224 (Statement of Transaction) process.

  5. For further information regarding CARS, see the website: https://www.fiscal.treasury.gov/fsservices/gov/acctg/cars/cars_home.htm.

Government Accountability Office Audit Assistance
  1. The annual financial audit by the GAO of IRS tax transactions will be made at the location where the operations are conducted and the accounting records maintained.

  2. Copies of EOM Reconciliation; related original refund and check cancellation voucher schedules with any required supporting documents; Regional Finance Center (RFC) confirmation listings, etc. are to be retained in the files, in accordance with the GAO Manual. Separate files will be maintained, in accounting period order, of the refund disbursement and check cancellation schedules, and other documents relating to the EOM Reconciliation as follows:

    1. Original paid refund schedules SF 1166 (Optical Character Recognition [OCR], Voucher and Schedule of Payments).

    2. Original accomplished Refund Cancellation schedules SF 1098 (Schedule of Cancelled Checks), SF 1184 (Unavailable Check Cancellation), IPAC, and TFS 3813 (Schedule of Uncollectable Checks).

  3. The following additional records will be made available: Business Master File (BMF), Individual Master File (IMF), Custodial Account Data Engine (CADE) and Non-Master File (NMF) Recaps of Assessments, Abatements, etc., Form 8485 (Assessment Adjustment Case Record documents), and Form 2285 (Concurrent Determinations of Deficiencies).

    Note:

    Both Forms 8485 and 2285 will be made available for selected restricted interest cases only, and taxpayer names will be redacted or removed.

  4. Also, specific transcripts will be produced on request by GAO auditors for individual cases selected for verification of refund interest computation.

    Note:

    Taxpayer names must be redacted or removed from transcripts prior to delivery to GAO unless otherwise notified.

  5. All unaudited records of refund transactions will be retained either in the RRACS unit files or Federal Record Center (FRC) for the GAO audit.

  6. Records of refund transactions that have been audited by the GAO may be transmitted to the FRC or destroyed according to the published destruction schedule.

  7. Copies used in lieu of originals must be photocopied for the GAO file.

Terms/Definitions

  1. The following terms and definitions apply to this program.

    1. Action bar - A bar across the top of a window that displays the allowable actions for that window

    2. Active window - The window being used. This is the window that receives mouse and keyboard input.

    3. Edit button - A menu selection used to correct an identifiable error before the item is posted. The selection cannot be used to change an 'Originating Source' from the Deposit Window.

    4. I–Beam pointer (Cursor) - A pointer that indicates that the cursor is over an area where text can be typed.

    5. List box - A vertical scrollable list of objects or settings choices that can be selected.

    6. Post button - A button on the window that when selected will generate a Journal Control Number. This button also validates all fields or selected fields within the window and posts to the database

    7. Summary - A item on the menu that, when selected, displays which accounts were debited and credited for the transaction being entered and the amount.

    8. User identification (User ID) - The unique identification assigned to you when you are given access to RRACS.

Acronyms

  1. The following acronyms apply to this program.:

    ACRONYMS DESCRIPTION
    ACCT Account
    ADA Allowance for Doubtful Accounts
    ALC Agency Location code
    AMT Alternative Minimum Tax
    AOTC American Opportunity Tax Credit
    BATF Bureau of Alcohol, Tobacco, and Firearms
    BCA Budget Clearing Account
    BHP Basic Health Plan
    BIS Budget Item Submission
    BITC Business Income Tax Credits
    BMF Business Master File
    BPD Branded Prescription Drug
    CA Custodial Accounting
    CADE Custodial Account Data Engine
    CARS Central Accounting Reporting System
    CMS Centers for Medicare & Medicaid Services
    CNMI Commonwealth of the Northern Mariana Islands
    COBRA Consolidated Budget Reconciliation Act of 1985
    COVID-19 Coronavirus
    CR Credit
    CHA Custodial HQ Accounting section
    CSR Cost Sharing Reduction
    CTA Carrier Transportation Act
    DBA Database Administrator
    DCC Detroit Computing Center
    DECR Decrease
    DISB Disbursement
    DMF Debtor Master File
    DOC ID Document Identification
    DR Debit
    DT Deposit Ticket
    DV Debit Voucher
    ECC Enterprise Computing Center
    EFTPS Electronic Federal Tax Payment System
    EFTU Electronic File Transfer Utility
    EIC Earned Income Credit
    EOD End of Day
    EOM End of Month
    FAST Fixing America’s Surface Transportation
    FICA Federal Insurance Contribution Act
    FRB Federal Reserve Bank
    FRC Federal Record Center
    FTD Federal Tax Deposit
    FUTA Federal Unemployment Tax Act
    GAO Government Accountability Office
    GOVT Government
    GWA Government-Wide Accounting System
    HCTC Health Coverage Tax Credit
    HIRE Hiring Incentives to Restore Employment
    HQ Headquarters
    ID Identification
    IFM Internal Financial Management
    IITC Individual Income Tax Credits
    IMF Individual Master File
    INCR Increase
    INDIV Individual
    INT Interest
    IPAC Intra-governmental Payment and Collection System
    IRC Internal Revenue Code
    IRM Internal Revenue Manual
    IRS Internal Revenue Service
    NMF Non-Master File
    NMI Northern Mariana Islands
    NTRR Net Tax Refund Report
    OMB Office of Management and Budget
    MCC Martinsburg Computing Center
    PCA Private Collection Agency
    PECF Presidential Election Campaign Fund
    POA&M Plan of Actions & Milestones
    PPA Patient Protection Act
    PTC Premium Tax Credit
    RACS Revenue Accounting Control Section
    REC Receivable
    RECL Reclass
    RRT Railroad Retirement Tax
    RRACS Redesigned Revenue Accounting Control System
    SF Standard Form
    SOCA Statement of Custodial Activity
    SOD Statement of Difference
    SPC Submission Processing Center
    SPS Secure Payment System
    SUPPL Supplemental
    TAS Treasury Account Symbol
    TDO Treasury Disbursing Office
    TIER Treasury Information Executive Repository
    TRANS Transactions
    UNEMPLOY Unemployment
    USC United States Code
    USSGL United States Standard General Ledger
    UWR Unified Work Request

Related Resources

  1. Related resources for the Custodial HQ Accounting section include:

    1. IRM 1.1.21, Organization and Staffing, Chief Financial Officer.

    2. IRM 1.11.2, Internal Revenue Manual (IRM) Process.

    3. IRM 1.11.8, Servicewide Electronic Research Program (SERP).

    4. IRM 3.17.50, Submission Processing Redesigned Revenue Accounting Control System (RRACS) Procedures.

    5. IRM 3.17.63, Redesigned Revenue Accounting Control System.

Redesigned Revenue Accounting Control System (RRACS) Accounting Applications

  1. Custodial HQ Accounting section staff inputs data in RRACS using the information described in the following subsections:

    1. IRM 1.31.7.2.1 describes the system and IRM 1.31.7.2.2 outlines the security rules.

    2. IRM 1.31.7.2.3 contains RRACS access information.

    3. IRM 1.31.7.2.5 describes data entry procedures, research options, Month End Closing, Statement of Differences, and report generation. ECC/MCC downloads are discussed in the remaining subsections.

Description of System

  1. RRACS controls and reports all financial activities of the Service's Tax Processing System, including taxes owed, collected and refunded. This system maintains the Service's accountability, and it interacts and touches the processing and examination and collection systems in the RRACS unit.

  2. Taxpayer accounts are maintained in four separate systems depending on the type of tax and tax period. These are:

    1. Individual Master File (IMF) ACCTs --Taxpayer accounts for individuals

    2. Business Master File (BMF) ACCTs --Taxpayer accounts for businesses

    3. Automated Non-Master File (ANMF) ACCTs --Taxpayer accounts that have not been prescribed for entry into the master file records, but are processed in the IRS.

    4. CADE File --Taxpayer accounts for certain types of individuals

  3. Each RRACS unit is assigned CA responsibilities coinciding with its areas of administrative jurisdiction and legal accountability. The RRACS provides for the merging of computer output with manual operations to produce required records and reports. Each RRACS unit maintains double entry ledger accounts covering the various revenue transactions, and provides for consolidated recording of assessments, collections, receivables, refunds, over-assessments, and other elements of CA.

  4. Reports include required data for each area office and RRACS unit. Each general ledger account is numerically identified by a ten-digit number. This number is used when referencing a general ledger account, both in procedural instructions and on reports or other forms.

  5. Periodically, financial reports are prepared or processed by the RRACS unit and the computing center. The reports are then furnished to the HQ office and Fiscal Service for use in publishing consolidated reports and for evaluating operations. The data for these reports is obtained from the general ledger, or are contained in computer generated or manual output relative to taxpayer accounts. The data provides the HQ office with information pertinent to operational areas.

General Security

  1. The following general security rules apply to all users of any IRS computer system. The RRACS is not an exception. See IRM 10.8.1, Information Technology (IT) Security Policy and Guidance, for additional guidance.

    1. Each RRACS authorized user will apply for and receive a User ID and password on the Online 5081 system.

    2. Upon receipt of the User ID and password, a user should access the MCC RRACS system and change the temporary password assigned by MCC's (Martinsburg Computing Center's) Security Administration.

    3. ECC password format rules are as follows: Eight characters in length and must contain at least one upper case alpha, one lower alpha, one numeric and one special character. The following special characters can be used: $ @ # . < + | & ! * - % _ > ? : =

    4. The Resource Allocation Control File (RACF) password system forces users to change their passwords every 30 days. User IDs become permanent and will not be changed.

    5. RACF remembers the present and previous twenty-four passwords for a total of twenty-five passwords. They cannot be reused when updating passwords.

    6. Protect your password. Do not reveal it to anyone, regardless of his or her position inside or outside the IRS.

    7. Do not use another user's password.

    8. Users should never allow anyone to use their password. Every action someone takes while using your password will be recorded on the system as being executed by you.

    9. Inform your manager immediately if you suspect your password has been compromised.

    10. Data entered or actions taken on a workstation will be recorded as being transacted by the user who initially signed on.

    11. Log off the system before leaving your workstation to ensure the integrity of the RRACS financial data and to prevent unauthorized access to the RRACS file server and MCC's mainframe.

RRACS Security

  1. In addition to the system security discussed earlier, RRACS contains the following additional physical security.

    1. There is an initial password required when the workstation is turned on. Without a valid password, the workstation will not operate.

    2. When the workstation initially boots up, another password is required to get to the initial security screen.

      Note:

      The password will need to be entered whenever there has been no activity for seven minutes.

    3. Once the system is booted up and the initial password is input, the user must “LOGON” through a security package. LOGON requires input of a valid user ID and password to sign on to the RRACS Local Area Network (LAN) on the file server.

    4. Another level of security is provided by Desktop Observatory. As applied to the RRACS system, it allows one of the following three operational levels (profiles/user accounts) to be assigned to each RRACS user: 1. System Administrator (SA); 2. Data Base Administrator (DBA); or 3. Technician (User).

    5. The RRACS SA has permission to start the programs for the Transmittal System, but does not have access to the RRACS executables or database.

    6. A specific display screen is authorized for each of the three operational levels. Only the authorized icons for each user are visible.

    7. Each RRACS user must have an accepted user account, which defines the user's profile, along with unique user identification (User ID) and password.

    8. Invalid user IDs and passwords will not be recognized by the system and access will be denied.

    9. User accounts and profiles can only be authorized by management in each service center.

    10. Instructions for establishing and maintaining security access to the RRACS operating system is contained in the Security Chapter of the RRACS LAN Administrator's Guide for Communications/File Servers and Workstations.

    11. Only the DBA group has access to the DBA journal. The only icons available for selection on the desktop are the RRACS icons, an icon to start a session with MCC, and a LOGOFF option.

    12. REMEMBER: RRACS executables are not stored on the workstation. They are brought into the memory on the workstation from the LAN when the user selects the appropriate icon.

    13. To run the RRACS server part of the RRACS client-server system, the users must LOGON to the mainframe at MCC. The user enters their RACF User ID and Password and the system allows them to contact RACF at the mainframe. RACF permits users to begin certain RRACS server executables based on the User ID group to which they are assigned.

Redesigned Revenue Accounting Control System Security Accreditation and Authorization

  1. CFO RACS technician:

    1. Has update capabilities to the RRACS database through specific and selected RRACS client windows.

    2. Has access to selected SERVER programs.

    3. Can only access their assigned service centers or campuses.

    4. Has access to CFO RACS unit reports menu.

  2. CFO technician:

    1. Has update capabilities to the RRACS database through specific and selected RRACS client windows.

    2. Has access to selected SERVER programs.

    3. Can access all service centers or campuses.

    4. Has access to CFO RACS unit reports menu and HQ reports menu.

  3. CFO RACS service center database administrator (DBA):

    1. Has update capabilities to the RRACS database through specific and selected RRACS Client windows.

    2. Has access to selected SERVER programs.

    3. Has access to selected functions on the DBA Main Menu (except Super Windows).

    4. Can only access their assigned service center or campus.

    5. Can only update account period between the 1st and the 15th of a month, and for their assigned service center or campus only.

    6. Has access to only CFO RACS unit reports menu.

  4. Custodial HQ Accounting section staff, database administrator (DBA):

    1. Has update capabilities to the RRACS database through specific and selected RRACS Client windows.

    2. Has access to all SERVER programs.

    3. Has access to all functions on the DBA Main Menu.

    4. Can access all service centers or campuses.

    5. Can update account period at any time of a month, and for any service center or campus.

    6. Has access to CFO RACS unit reports menu and HQ reports menu.

    7. Has access to RRACS maintain lockout to lockout users for any and all service centers or campuses, for any and all access levels, and can control when accounting periods may be updated.

    8. Maintains the RRACS user profile table.

    9. Has TSO access.

    10. Has read-only access to query the RRACS production database through QMF and SQL.

    11. Has access to the DBA main menu super windows and has access to SGL journal research functions.

  5. CFO HQ Reporting Read Only:

    1. Has read-only access to the RRACS database through specific and selected RRACS Client windows

    2. Only has access to SERVER programs that do not update the RRACS database.

    3. Can access all service centers or campuses.

    4. Has access to both CFO RACS unit and HQ reports menu.

    5. Has TSO access.

    6. Has read-only access to query the RRACS Production database through QMF and SQL.

    7. Has access to file upload menu.

  6. RRACS Read Only:

    1. Has read-only access to the RRACS database through specific and selected RRACS Client windows.

    2. Only has access to SERVER programs that do not update the RRACS database.

    3. Can access all service centers or campuses.

    4. Has access to CFO RACS unit reports menu.

    5. A read-only user at the CFO has access to both CFO RACS unit and HQ reports menu.

RRACS Single Workstation Login - Plan of Action and Milestones (POAM) Access Control Policy

  1. RRACS now features POAM - a security feature that restricts login sessions to a single user at a single workstation at any given time. With this feature, RRACS will store the user's primary workstation as the default workstation.

  2. If a user tries to log into a new session on a new computer, RRACS will return the following message: You are logged into a different computer. Do you want to change your default workstation? (Y/N) if the user answers yes, the active session on the original workstation will terminate.

  3. See also IRM 10.8.1.4.1.9, Information Technology (IT) Security, Policy and Guidance: AC-10 Concurrent Session Control.

Maintenance Windows

  1. Occasionally, RRACS changes the rule using the maintenance window due to processing changes, new legislation and modernization of feeder systems.

Data Entry

  1. The following subsections contain instructions on preparing RRACS journals, including the general and specific procedures for each type of journal.

General Procedures
  1. Data Entry Rules, Windows Hierarchy, General Steps, Menu Options, and Other Options are discussed in the following subsections.

Data Entry Rules
  1. The basic conceptual user operating terminology for data entry actions include:

    1. ACCT period - A mandatory selection for most journals. From the Main Menu, accept the highlighted current month or select the future month.

    2. Prepared Date - Entered using the (MM-DD-YYYY) format with numbers and hyphens. Do not omit leading zeros.

    3. Decimal point - Included if cents are present in money amounts.

    4. Tab or mouse - Used to move from one entry field to another entry field.

    5. OK button - Used to retain entries in a dialog box.

    6. Post button - Used to validate all fields or selected fields within the window and post to the database.

    7. Shift and tab key - Held simultaneously to move the cursor backward to the prior input field.

    8. System date and time - Displayed on the window in the upper right hand corner. Neither of these can be changed.

    9. All entry fields are surrounded by borders except for read only or calculated fields.

    10. Originating source (Deposit Windows) can not be changed using Edit.

    11. Minus signs are not allowed on the windows. See the DBA if something was entered in error.

    12. The numbers on the alpha keyboard can be used. However, the 10-key numeric arrangement usually provides better accuracy for numbers.

    13. Message lines are included on Maintain Transaction Window. Use message for additional information to identify a record as part of the audit trail.

    14. All fields do not have validity checks to ensure correct entry. Some fields that do not have checks may be very important to the audit trail and may be used to identify a record. It is important to enter DOC IDs, Type Code, Assessment Dates, etc., correctly before posting them to the database.

    15. The journal number should always be transcribed onto the source document as soon as it appears on the screen. It is an important part of the audit trail.

    16. The Refresh button from the action bar is used to clear the window and start over.

    17. The Help button in the action bar is used to secure help information.

    18. When the RRACS Sub Menu has items listed in the record area followed by an ellipse (…), the system will go directly to the RRACS Intermediate Window.

    19. Anytime there is a document for Public Debt, a State must be selected.

    20. Information entered on the Maintain Journal Entry window will appear as a journal entry on the Maintain Source Journal window.

    21. When asterisks are present in the Ledger Classification account, select the display account button for journal transaction details.

    22. When scrolling to select a Ledger Classification account, debit accounts are listed in numeric order, followed by the credit accounts.

Windows Hierarchy
  1. The RRACS HQ Main Menu contains the following five basic window levels, regardless of the option selected:

    1. Level 1: HQ Main Menu - Use this menu to select the category of journal entry being prepared. After highlighting the option needed, select Apply to move to the next window.

    2. Level 2: RRACS Sub Menu - This window also contains a Control Main Menu title, based on the Main Menu option selected. After highlighting the Record category and ACCT Period (when displayed), select Apply to move to level 4.

    3. Level 3: Maintain Transaction Window - This window is bypassed during the initial access to the primary source journal. Use this window to select a Possible Source Journal, and/or to input an audit trail Message, then Post the journal.

    4. Level 4: Maintain Source Journal - This window is used to input general information about the journal, such as the document number and the prepare date. From this window, select Add to move down to level 5 to enter the journal account and amount information. Select OK to move up to level 3 when all the journal information is correct. Cancel also moves up to level 3 without accepting any information that has been entered.

    5. Level 5: Maintain Journal Entry - Use this window to enter the money amount for each selected ledger account. Select OK to accept a journal entry. If no more journal entries are possible, the system automatically returns to level 4. Otherwise, enter additional accounts and amounts, or select Cancel.

General Steps
  1. The following general steps are used to access the main RRACS HQ menu and complete a journal transaction:

    STEP ACTION
    1 From the high level icon, select the HQ RRACS Main Menu.
    2 From the HQ RRACS Main Menu, select a category of journal action from the Main Menu and then select Apply.
    3 Select a journal record from the sub menu. If visible, also verify the ACCT Period month. The current month is displayed as default, or select the future month. Then select Apply.
    4 Complete or select all labeled elements on the top portion of the Maintain Source Journal window. Then select Add from the right side of the window.
    5 On the Maintain Journal Entry window, select the Ledger Classification, if not already highlighted. Then enter the amount associated with the highlighted account. Also enter or select from the drop down menu any other labeled element. Then select OK. Repeat if other accounts are displayed, or Cancel if no more entries are required.
    6 Verify the completed Maintain Source Journal window and select OK. If any information is incorrect, select Edit. Then correct the error and select OK.
    7 From the Maintain Transaction window, select Message to enter supporting audit trail information. Then select OK.
    8 Select Post to complete the journal action. The Journal Number in the lower right is confirmation that the journal has posted.

Menu Options
  1. The following table lists the main menu, sub menu, and intermediate menu options for RRACS:

    Main Menu Options Sub Menu Options Intermediate Menu
    lPAC Receipt/Disbursement Railroad Retirement Railroad Retirement (DR); Railroad Retirement (CR)
    Postage IPAC N/A
    IPAC Receipt N/A
    Northern Mariana Islands (CNMI) N/A
    IPAC Disbursement N/A
    IPAC Territorial Child CR N/A
    Federal Unemployment Tax (FUTA) FUTA (DR) or (CR)
    Other Agency Disbursement Bureau of Alcohol, Tobacco and Firearms (BATF) N/A
    Customs N/A
    Warrants/Supplemental Warrants Child Care Warrant N/A
    Postage Warrant N/A
    Refund Internal Revenue Code (IRC) Principal N/A
    Refund IRC Interest N/A
    Earned Income Credit (EIC) N/A
    HIRE-BOND Warrant N/A
    PPA Act Warrant N/A
    COVID Stimulus Warrant NA
    Refundable Warrant N/A
    HCTC/Informant Warrant N/A
    American Opportunity CR Warrant N/A
    COVID Response Warrant NA
    Build America, Warrant N/A
      PTC Warrant N/A
    Surplus Warrants Child Credit Surplus N/A
    Refund IRC Principal Surplus N/A
    Refund IRC Interest Surplus N/A
    EIC Surplus N/A
    HIRE-BOND Surplus Warrant N/A
    PPA Act Surplus Warrant N/A
    COVID Stimulus SurplusWar NA
    Refundable Warrant, Surplus N/A
    HCTC/Informant Surplus Warrant N/A
    American Opportunity CR, Surplus Warrant N/A
    COVID Resp SurplusWar NA
    Build America, Surplus Warrant N/A
      PTC, Surplus Warrant N/A
    Other (See list in next subsection) N/A

Other Options
  1. Within the Other option of the Main Menu, any of the following journal options can be selected:

    1. EIC Advance

    2. Presidential Election Fund

    3. DMF Transfer From Budget Clearing Account (BCA)

    4. Excise (Windfall or Earmarked)

    5. Excess FICA

    6. Excise (Forms 4136, Computation of Credit for Federal Tax on Fuels or 8849, Claims for Refund of Excise Tax)

    7. Excise Net Tax Refund Report (NTRR)

    8. Postage Repayment

    9. Child Credit Disbursement

    10. Service Center Refunds

    11. Tax Receivable Adjustment

    12. Photocopy Fee Disbursements

    13. Health Coverage TC

    14. HIRE-BOND Reclass

    15. PPA Act Reclass

    16. Reverse Closeout

    17. EIC DMF Offset

    18. EIC Disbursements

    19. 1081T

    20. 1081F

    21. Resolve BCA

    22. HCTC - No SF224

    23. Private Collection Agency (PCA)

    24. COVID Stimulus

    25. Refundable Credit

    26. HCTC IFM Portion

    27. Allowance for Doubtful ACCTs (ADA)

    28. Seized Assets

    29. NTRR Rollup

    30. Net Change Receivable for SOCA

    31. American Opportunity Credit, Reclass

    32. Refund SGL Tax Class

    33. Net Change to Tax Payable

    34. HQ MISC Application

    35. COVID Response

    36. Build America Bond, Reclass

    37. PTC Transactions

    38. Sequestration

Journal Numbers
  1. The RRACS journal number consists of three parts:

    1. Posting number - Code indicating the type of posting transaction (3 positions)

    2. Journal date - The date in which the journal posted to the RRACS database. (8 positions in MM-DD-YYYY format)

    3. Sequence number - A number assigned to the journal. For each account period, sequence number 1 is assigned to the first journal of each posting number. The number can be from 1 to 999.

Journal Creation
  1. Once the type of transaction to be entered is selected from the menu, the Maintain Source Journal window is displayed to begin entering data.

  2. Enter or verify the labeled elements shown on the top portion of the screen. The unlabeled elements are used for the other journals and cannot be entered.

    1. A Document Number is required for most journals. Any alpha or numeric characters are valid. Use the number on the source document or develop a standard numbering system.

    2. The Prepare Date is required on most journals. Enter in the (MM-DD-YYYY) format. Normally the current date is used. The date must not be later than the current date.

    3. The Total Amount is required when amounts are entered in the journal detail. The debits and credits are matched to this amount during validation.

    4. The Amount is required in the top portion of some journals where the same accounts are always debited and credited.

    5. The Cycle Number is needed on some journals. Select from the drop-down menu the master file cycle of the transaction being entered.

  3. When the top portion of Maintain Source Journal is completed, select Add.

  4. The Maintain Journal Entry window displays the different journal classifications that may be selected. Use the Display ACCT option for the names and numbers of the General Ledger accounts that are impacted.

  5. If more than one Ledger Classification Description is displayed, accept the highlighted category, or select another Description line.

  6. On the Amount line, enter the money amount associated with the highlighted ledger classification description.

  7. Other elements which may be required on selected journals are:

    1. Area Office - Select the appropriate code from the drop down menu

    2. Tax Class - Select the Ledger Classification list box

    3. Principal/Interest boxes - Mark the appropriate box

    4. Line Number - Enter the line number from the NTRR. Only lines 2, 4, 12, 63, 65, 71, 72, 73, 74, 75, 76, 78, 79, and 81 are valid

  8. When all of the required information has been entered, select OK.

  9. If more than one classification description was present, the system returns to the same window for another entry. Enter the information required for an additional entry, or select Cancel if no other entry is required.

Error Messages
  1. When the journal is completed, error messages may appear. Select OK from the error window to clear the message and begin the correction. Cancel can also be selected to exit without completing the journal action.

  2. An error condition associated with a specific element is normally highlighted in red.

  3. The following general categories of errors are used in the RRACS system:

    Error Category Description
    Edit Pattern Validation Error Data does not meet the required format for the field, such as an alpha character in a money field.
    Missing Required Field The missing field is displayed in red.
    Error Codes Codes generated when a journal attempts to post.

  4. The following error messages may be displayed. When you select OK from the message screen, the element(s) in error are normally highlighted in red. Some of the messages follow:

    Error Message Resolution
    Either Principal or Interest must be selected. Move to the Principal or Interest box on the Maintain Journal Entry window and enter the amount.
    Invalid Line Number For National Office NTRR adjustments, only the following line numbers may be entered: 2, 4,12, 63, 65, 71, 72, 73, 74, 75, 76, 78, 79, 81.
    Line Number entry required Enter the line number of the NTRR that is being adjusted.

  5. The following is a list of error codes used in the RRACS system. Some of the codes may occur only in the RRACS unit.

    1. * - A Duplicate was Found but has been Accepted Anyway

    2. AG - Update Amount is Greater than the Outstanding amount

    3. AM - Individual Amounts Do Not Match

    4. AT - Total Amount Does Not Match on Document Found

    5. CA - Already Confirmed

    6. CD - Confirm Date Is Earlier than Prep Date

    7. DN - A Duplicate Was Found and Is Not Allowed

    8. DY - A Duplicate Record Was Found and Can Be Accepted

    9. FC - Federal Tax Deposit (FTD) Batch Date Is Already Closed

    10. FE - The FTD Day Batch Already Exists and Duplicates Are Not Allowed

    11. FI - FTD Amount Imbalance Against Previous Inputs

    12. NA - No Document Was Found To Update

    13. NF - Document Was Not Found

    14. OA - Case Is Open Already

    15. WN - Daily Wire Has Not Been Downloaded

Journal Data Source
  1. The following section states the business rules for using source documents to post journals into RRACS.

  2. All journals need to be entered, reviewed, and stored along with the backup documentation that supports the entry.

Individual Income Tax Credit (IITC) and Business Income Tax Credit (BITC) Reports (Refundable Tax Credits)
  1. Refundable tax credits are treated as payments and may result in a refund to the taxpayer by the IRS. For example: If a taxpayer qualifies for a refundable tax credit, they could receive a refund from the IRS, less any tax obligation.

  2. Ordering Rule: A taxpayer can claim multiple refundable credits on a tax return. An ordering rule was created to systemically determine which credit would be treated as an outlay. An outlay is the total amount of the refundable credits claimed by a taxpayer that exceeded a tax liability (OMB Circular A-11 (2016), Section 20.6, entitled: “What do I need to know about outlays?”). The ordering rule applies the excess amount to each refundable credit in the order listed below until it equals the claimed refundable credit amount. If there is leftover excess amount, it is applied to the next refundable credit in the order. The Advanced Premium Tax Credit (APTC), (which is a component of the Premium Tax Credit (PTC)), is the only refundable credit with an advance payment and consequently placed at the top of the ordering rule. This was due to the advanced premium tax credit being recorded as 100% outlay when paid by the CMS. Outside of the premium tax credit, any new refundable credits established will be placed at the bottom of the ordering rule.

    IITC refundable credits are listed in the following table, based on the ordering rule:

    IITC Refundable Credit Treasury Account Fund Symbol
    Affordable Care Act (ACA), Premium Tax Credit (PTC) 20X0949
    Earned Income Tax Credit (EITC) 20X0906
    American Opportunity Tax Credit (AOTC) 20X0932
    Health Coverage Tax Credit (HCTC) 20X0923
    Additional Child Tax Credit (ACTC) 20X0922
    Ordering Rule Example: Excess of refundable credits over tax liability:
    Scenario 1: Scenario 2:
    • EITC: $5,000

    • Additional Child Tax Credit: $3,000

    • Frozen Credit: $2,000

    • Tax Liability: $2,000 (Refund of $4,000)

    • EITC: $5,000

    • Additional Child Tax Credit: $3,000

    • Payment: $2,000

    • Tax Liability: $2,000 (Refund of $8,000)

    Total Outlay:
    • EITC: $4,000

    • Additional Child Tax Credit: $0

    Total Outlay:
    • EITC: $5,000

    • Additional Child Tax Credit: $1,000

  3. IITC refundable credits are systemically entered into RRACS through a weekly batch journal with a posting number of 186 (one per cycle excluding the dead cycles). The dead cycles occur during the first three weeks of January, due to no account activity. The source report for IITC is Control D report: 480-1M-11.

  4. BITC refundable tax credits are systemically entered into RRACS through a weekly batch journal with a posting number of 185 (one per cycle excluding the dead cycles). The dead cycles occur during the first three weeks of January, due to no account activity. The source report for BITC is Control D report: 180-1D-11.

    Note:

    The ordering rule does not apply to the BITC refundable credits.

    BITC Refundable Credits are:

    BITC Refundable Credit Treasury Account Fund Symbol
    Build American Bonds 20X0935
    Clean Renewable Energy Bonds 20X0947
    Qualified Energy Conservation Bonds 20X0948
    Qualified School Construction Bonds 20X0946
    Qualified Zone Academy Bonds 20X0945
    Recovery Zone Bonds 20X0935
    Refundable Corporate AMT (CORP AMT) 2017 and prior 20X0931
    Refundable Corporate AMT (Corp AMT) 2018 and subsequent 20X0931
    Small Business Insurance Tax Credit 20X0951

    Note:

    For additional information about dead cycles, please refer to IRM 3.30.123.4.7, Dead Cycles - A Week Counter

Types of Journal Entries
  1. The following subsections contain instructions for preparing each type of journal.

Intra-governmental Payment and Collection System Transactions
  1. Types of IPAC journals are described in the following subsections.

Federal Unemployment Tax Act (Journal Numbers 015 and 017)
  1. The following information is required for the journalizing of the reimbursement of federal unemployment taxes refunded from the refund appropriation (Journal 017), or a reversal (credit) of federal unemployment taxes back to the IRC Refund appropriation (Journal 015).

  2. Source data for the journal entry is the total principal and total interest from page 7 of the NTRR report for the month.

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select IPAC Receipt/Disbursement Click Apply
    RACS Sub Menu Record Highlight FUTA N/A
    ACCT Period Accept the highlighted current month or select the future month Click Apply
    RACS Intermediate Menu Select Highlight FUTA DR or FUTA CR N/A
    ACCT Period Accept the current month Click Apply
    Maintain Source Journal Document # Enter document number from source document N/A
    Prepare Date Enter current date or date of source document (MM-DD-YYYY) Click OK or Add
    Maintain Journal Entry Ledger Classification Highlight Principal, FUTA or Interest, FUTA N/A
    Amount Enter the amount to be journalized for the highlighted principal or interest Click OK
    N/A Repeat for each account that has an amount. When finished with required inputs Click Cancel
    Maintain Source Journal Journal Entry If correct Click OK
    If incorrect, highlight the incorrect entry, click edit After correction, click OK
    Maintain Transaction Window Message N/A Click Message
    N/A Type in message Click OK
    Post N/A Click Post

  3. The following general ledger accounts are affected by Journal 015, FUTA Debit and 017, FUTA Credit:

    Account Number FUTA Debit Option (015) FUTA Credit Option (017) Account Name
    0903 Credit Debit HQ Disbursement, Principal
    0904 Credit Debit HQ Disbursement, Interest
    5120 Debit Credit HQ Principal, FUTA
    5220 Debit Credit HQ Interest, FUTA

Intra-governmental Payment and Collection System Disbursement - Debtor Master File Refund Offsets From RRACS Unit (Journal Number 027)
  1. The following information is required to journalize the IPAC Disbursement of Debtor Master File (DMF) Refund Offsets from the RRACS unit to the Budget Clearing Account (BCA) for HQ accountability (Journal 027).

  2. Source data for the DMF journal entry is the DMF IPAC(s).

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select IPAC Receipt/Disbursement Click Apply
    RACS Sub Menu Record Highlight IPAC Disbursement N/A
    ACCT Period Accept the highlighted current month or select the future month Click Apply
    Maintain Source Journal Document # Enter document number from source document N/A
    Prepare Date Enter current date or date of source document N/A
    Cycle Select current cycle from drop drown Click OK or Add
    Maintain Journal Entry Ledger Classification Highlight IPAC Disbursement or Reverse IPAC Disbursement N/A
    Amount Enter the amount to be journalized Click OK
    N/A Screen defaults to the reverse entry Click Cancel.
    Maintain Source Journal Journal Entry If correct Click OK
    If incorrect Highlight the incorrect entry, click edit. After correction, click OK
    Maintain Transaction Window Message N/A Click Message
      Type in message Click Enter
    N/A Post N/A Click on Post

  3. The following general ledger accounts are affected by Journal 027, IPAC Disbursement:

    Account Number Post As Account Name
    5260 Debit HQ DMF
    3875 Credit HQ Liability, DMF

Intra-governmental Payment and Collection System Receipt - Debtor Master File Refund Offsets From RRACS Unit (Journal Number 016)
  1. The following information is required to journalize the IPAC Receipt of DMF Refund Offsets from the RRACS unit to the BCA for HQ accountability (Journal 016).

  2. Source data for the DMF journal entry is the DMF IPACs.

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select IPAC Receipt/Disbursement Click Apply
    RACS Sub Menu Record Highlight IPAC Receipt N/A
    ACCT Period Accept the highlighted current month or select the future month Click Apply
    Maintain Source Journal Document # Enter document number from source document N/A
    Prepare Date Enter current date or date of source document N/A
    Cycle Select current cycle from drop drown Click OK or Add
    Maintain Journal Entry Ledger Classification Highlight IPAC Receipt or Reverse IPAC Receipt N/A
    Amount Enter the amount to be journalized Click OK
    N/A Screen defaults to the reverse entry Click Cancel
    Maintain Source Journal Journal Entry If correct Click OK
    If incorrect, highlight the incorrect entry, click edit After correction, click OK
    Maintain Transaction Window Message N/A Click Message
      Type in message Click Enter
    N/A Post N/A Click Post
  3. The following general ledger accounts are affected by Journal 016, IPAC Receipt:

    Account Number Post As Account Name
    3875 Debit HQ Liability, DMF
    5260 Credit HQ DMF
Intra-governmental Payment and Collection Territorial Additional Child Tax Credit (Journal Number 036)
  1. The following information is required for journalizing of the IPAC Territorial Additional Child Tax Credit (Journal 036).

  2. Source data for the IPAC Territorial Additional Child Tax Credit journal entry is the letter certification from the applicable territory.

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select IPAC Receipt/Disbursement Click Apply
    RACS Sub Menu Record Highlight IPAC Territorial Child CR N/A
    ACCT Period Accept the highlighted current month or select the future month Click Apply
    Maintain Source Journal Document # Enter document number from source document N/A
    Prepare Date Enter date of source document Click OK or Add
    Maintain Journal Entry Ledger Classification Highlight IPAC Territorial Child CR or REV IPAC Territorial Child CR or IPAC COVID Stim Trty or IPAC COVID Resp Trty or IPAC COVID EMP Reten Trty N/A
    Amount Enter the amount to be journalized Click OK
    N/A Screen defaults to the reverse entry Click Cancel
    Maintain Source Journal Journal Entry If correct Click OK
    If incorrect, highlight the incorrect entry, click edit After correction, click on OK
    Maintain Transaction Window Message N/A Click Message
    N/A Type in message Click OK
    Post N/A Click Post
  3. The following general ledger accounts are affected by Journal 036, IPAC Territorial Additional Child Tax CR:

    Account Number Post As Account Name
    5661 Debit HQ Expense, Territorial Child CR
    0922 Credit HQ Child Credit
Commonwealth of the Northern Mariana Islands (Journal Number 018)
  1. The following information is required for journalizing of the reclassification of Withholding (tax class 1) receipts to the Commonwealth of the Northern Mariana Islands (CNMI) Trust Fund (Journal 018).

  2. Source Data for the CNMI journal entry are the agency certifications that are received quarterly.

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select IPAC Receipt/Disbursement Click Apply
    RACS Sub Menu Record Highlight CNMI N/A
    ACCT Period Accept the highlighted current month or select the future month Click Apply
    Maintain Source Journal Document # Enter document number from source document N/A
    Prepare Date Enter date of source document Click OK or Add
    Maintain Journal Entry Ledger Classification Highlight Northern Mariana Reclass or Northern Mariana Reclass (-) N/A
    Amount Enter the amount to be journalized Click OK
    N/A Screen defaults to the reverse entry Click Cancel
    Maintain Source Journal Journal Entry If correct Click OK
    If incorrect, highlight the incorrect entry, click edit After correction, click OK
    Maintain Transaction Window Source Journal Highlight Northern Mariana, IPAC Click Action, then Add
    Maintain Source Journal Document # Enter document number from source document N/A
    Prepare Date Enter the date of source document Click OK or Add
    Maintain Journal Entry Ledger Classification Highlight Northern Mariana, IPAC or Northern Mariana (-) N/A
    Amount Enter the amount to be journalized Click OK
    N/A Screen defaults to the reverse entry Click Cancel
    Maintain Source Journal Journal Entry If correct Click OK
    If incorrect, highlight the incorrect entry, click edit After correction, click OK
    Maintain Transaction Window N/A Type in message Click OK
    N/A Post N/A Click Post
  3. The following general ledger accounts are affected by Journal 018, CNMI:

    CNMI Treasury
    Account Number Post As Account Name TAS
    3875 Debit HQ Liability, DMF 20F3885.11
    2111 Credit HQ Withholding 200152
    CNMI, IPAC  
    5664 Debit HQ Expense, Coverover N/A
    3875 Credit HQ Liability, DMF 20F3885.11
Railroad Retirement Taxes (Journal Numbers 014 and 019)
  1. This is journalizing the reimbursement of Railroad Retirement Taxes (RRT) refunded from the IRC Refund appropriation (Journal 019), or a reversal (credit) of RRT back to the IRC Refund appropriation (Journal 014).

  2. Source data for the journal entry is the total principal and total interest from page 7 of the RACS Report 050, Net Tax Refund Report (NTRR) report for the month.

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select IPAC Receipt/Disbursement Click Apply
    RACS Sub Menu Record Highlight Railroad Retirement N/A
    ACCT Period Accept the highlighted current month or select the future month Click Apply
    RACS Intermediate Menu Select Highlight Railroad Retirement DR or Railroad Retirement CR N/A
    ACCT Period Accept the current month Click Apply
    Maintain Source Journal Document # Enter document number from source document N/A
    Prepare Date Enter current date or date of source document Click OK or Add
    Maintain Journal Entry Ledger Classification Highlight Principal, RRT or Interest, RRT N/A
    Amount Enter the amount to be journalized for the highlighted principal or interest Click OK
    N/A Repeat for each account that has an amount. When finished with required inputs Click Cancel
    Maintain Source Journal Journal Entry If correct Click OK
    If incorrect, highlight the incorrect entry, click edit After correction, click OK
    Maintain Transaction Window Message N/A Click Message
    N/A Type in message Click OK
    Post N/A Click Post
  3. The following general ledger accounts are affected by Journal 014, Railroad Retirement Debit or Journal 019, Railroad Retirement Credit:

    Account Numbers Railroad Retirement (RR) Debit Application (014) RR Credit Application (019) Account Name
    0903 Credit Debit HQ Disbursement Principal
    0904 Credit Debit HQ Disbursement Interest
    5130 Debit Credit HQ Principal, RRT
    5230 Debit Credit HQ Interest, RRT

Other Agency Disbursements
  1. The following subsections contain instructions on preparing journals for BATF, DOJ, and U.S. Customs Service.

Bureau of Alcohol, Tobacco, Firearms, and Department of Justice (Journal Number 020)
  1. The following information is required for journalizing of the refunds paid from the Refund Principal and/or Refund Interest appropriation (Journal 020).

  2. Source data for the Bureau of Alcohol, Tobacco, Firearms and DOJ journal entries come from a monthly email. These are external entities that send in their data which are the Department of Justice, and the Alcohol & Tobacco Tax & Trade Bureau.

  3. BATF ALC 20-10-0003, and DOJ ALC 15-07-0001 are entered on a monthly basis.

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select Other Agency Disbursement Click Apply
    RACS Sub Menu Record Highlight BATF N/A
    ACCT Period Accept the highlighted current month or select the future month Click Apply
    Maintain Source Journal Document # Enter document number from source document N/A
    Prepare Date Enter date of source document Click OK or Add
    Maintain Journal Entry Ledger Classification Highlight Principal or Interest BATF, or Reverse Principal or Reverse Interest BATF N/A
    Amount Enter the amount to be journalized Click OK
    Amount Repeat for each account that has an amount Click OK for each account
    N/A When finished with required inputs Click Cancel
    Maintain Source Journal Journal Entry If correct Click OK
    If incorrect, highlight incorrect entry, then click edit After correction, click OK
    Maintain Transaction Window Possible Source Journals Highlight NTRR Line Data INC Click Action, then Add
    Maintain Source Journal N/A N/A Click OK or Add
    Maintain Journal Entry Line # Enter 81 N/A
    Principal Click on box N/A
    Items Enter # of items N/A
    Amount Enter amount Click OK
    N/A Repeat above for interest Click OK. When next screen appears, click Cancel
    Maintain Source Journal Journal Entry If correct Click OK
    N/A If incorrect, highlight incorrect entry, then click edit After correction, click OK
    Maintain Transaction Window Message N/A Click message
    N/A Type in message Click OK
    Post N/A Click Post
  4. The following general ledger accounts are affected by Journal 020, BATF:

    Account Number Post As Account Name
    5150 Debit HQ Principal, BATF
    5250 Debit HQ Interest, BATF
    0903 Credit HQ Disbursement, Principal
    0904 Credit HQ Disbursement, Interest

  5. The following general ledger accounts are affected by Journal 020, DOJ:

    Account Number Post As Account Name
    5150 Debit HQ Principal, BATF
    0903 Credit HQ Disbursement, Principal

U.S. Customs Service (Journal Number 021)
  1. The journalizing of the refunds paid from the Refund Principal and/or Refund Interest for U.S. Customs (Journal 021).

  2. Source data for the U.S. Customs journal entry is a monthly email. Customs & Border protection sends in the data.

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select Other Agency Disbursement Click Apply
    RACS Sub Menu Record Highlight Customs N/A
    ACCT Period Accept the highlighted current month or select the future month Click Apply
    Maintain Source Journal Document # Enter document number from source document N/A
    Prepare Date Enter date of source document Click OK or Add
    Maintain Journal Entry Ledger Classification Highlight Principal Customs or Interest Customs, or Reverse Principal Customs or Reverse Interest Customs N/A
    Amount Enter the amount to be journalized Click OK
    Amount Repeat for each account that has an amount Click OK for each account
    N/A When finished with required inputs Click Cancel
    Maintain Source Journal Journal Entry If correct Click OK
    If incorrect, highlight incorrect entry, then click edit After correction, click OK
    Maintain Transaction Window Possible Source Journals Highlight NTRR Line Data INC Click Action, then Add
    Maintain Source Journal N/A N/A Click OK or Add
    Maintain Journal Entry Line # Enter 81 N/A
    Principal Click on box N/A
    Items Enter # of items N/A
    Amount Enter amount Click OK
    N/A Repeat above for interest Click OK. When next screen appears, click Cancel
    Maintain Source Journal Journal Entry If correct Click OK
    N/A If incorrect, highlight incorrect entry, then click edit After correction, click OK
    Maintain Transaction Window Message N/A Click message
    N/A Type in message Click OK
    Post N/A Click Post
  3. The following general ledger accounts are affected by Journal 021, Customs:

    Account Number Post As Account Name
    5140 Debit HQ Principal, Customs
    5240 Debit HQ Interest, Customs (If interest is included)
    0903 Credit HQ Disbursement, Principal
    0904 Credit HQ Disbursement, Interest (If interest is included)

Surplus Warrant(s)
  1. This subsection provides instructions for entering journals for Surplus Warrant(s). The Surplus Warrant(s) option in the RACS Main Menu is used to record warrant(s) received directly from Treasury and issued to reduce the appropriation for funds taken by Treasury to transfer trust funds to other agencies.

  2. Custodial HQ Accounting receives an email from the Custodial Reporting section that a Surplus Warrant(s) was requested from Treasury. The Custodial HQ Accounting analyst checks the Treasury system to see if the warrant(s) posted. The warrant(s) is retrieved from CARS and posted in RRACS.

American Opportunity Credit, Surplus Warrant(s) (Journal 079)
  1. The following information is required to journalize American Opportunity Credit Surplus Warrant(s) (Journal Number 079).

  2. Source data for the American Opportunity Surplus Warrant(s) journal entry is the warrant(s) from Treasury.

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select Surplus Warrant(s) Click Apply
     
    RACS Sub Menu Record Highlight American Opportunity Credit, Surplus Warrant(s) N/A
    ACCT Period Accept the highlighted current month or select the future month Click Apply
    Maintain Source Journal Document # Enter document number from source document N/A
    Prepare Date Enter current date or date of source document Click OK or Add
    Maintain Journal Entry Ledger Classification Highlight American Opportunity Credit, Surplus Warrant(s) N/A
    Amount Enter the amount to be journalized Click OK
    N/A Screen defaults to the reverse entry Click Cancel
    Maintain Source Journal Journal Entry If correct Click OK
    If incorrect, highlight the incorrect entry, click edit After correction, click OK
    Maintain Transaction Window Message N/A Click Message
    N/A Type in message Click Enter
      Post N/A Click Post
  3. The following general ledger accounts are affected by Journal 079, American Opportunity Credit Surplus Warrant(s):

    Account Number Post As Account Name
    5647 Debit HQ Expense, American Opportunity Tax Cr
    0232 Credit HQ Surplus Warrant(s), American Opportunity Tax
Build America Bond, Surplus Warrant (Journal Number 099)
  1. The following information is required to journalize Build America Bond, Surplus Warrant(s) (Journal Number 099).

  2. Source data for the Build America Bond Surplus Warrant(s) journal entry is the warrant(s) from Treasury.

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select Surplus Warrant(s) Click Apply
     
    RACS Sub Menu Record Highlight Build America, Surplus Warrant(s) N/A
    ACCT Period Accept the highlighted current month or select the future month Click Apply
    Maintain Source Journal Document # Enter document number from source document N/A
    Prepare Date Enter current date or date of source document Click OK or Add
    Maintain Journal Entry Ledger Classification Highlight Build America, Surplus Warrant(s) N/A
    Amount Enter the amount to be journalized Click OK
    N/A Screen defaults to the reverse entry Click Cancel
    Maintain Source Journal Journal Entry If correct Click OK
    If incorrect, highlight the incorrect entry, click edit After correction, click OK
    Maintain Transaction Window Message N/A Click Message
    N/A Type in message Click Enter Key
      Post N/A Click Post
  3. The following general ledger accounts are affected by Journal 099, Build America Bond, Surplus Warrant:

    Account Number Post As Account Name
    5648 Debit HQ Expense, Build America Bond
    0235 Credit HQ Surplus Warrant(s), Build America Bond
Child Credit Surplus Warrant (Journal Number 023)
  1. The following information is required to journalize the Child Credit Surplus Warrant(s) (Journal Number 023).

  2. Source data for the Child Credit Surplus Warrant(s) journal entry is the warrant(s) from Treasury.

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select Surplus Warrant(s) Click Apply
    RACS Sub Menu Record Highlight Child Credit Surplus N/A
    ACCT Period Accept the highlighted current month or select the future month Click Apply
    Maintain Source Journal Document # Enter document number from source document N/A
    Prepare Date Enter current date or date of source document Click OK or Add
    Maintain Journal Entry Ledger Classification Highlight Child Credit Surplus or Reverse Child Credit Surplus N/A
    Amount Enter the amount to be journalized Click OK
    N/A Screen defaults to the reverse entry Click Cancel
    Maintain Source Journal Journal Entry If correct Click OK
    If incorrect, highlight the incorrect entry, click edit After correction, click OK
    Maintain Transaction Window Message N/A Click Message
    N/A Type in message Click Enter
    Post N/A Click Post
  3. The following general ledger accounts are affected by Journal 023, Child Credit Surplus Warrant(s):

    Account Number Post As Account Name
    5660 Debit HQ Expense, Child Credit.
    0222 Credit HQ Surplus Warrant(s), Child Credit.

Earned Income Credit Surplus Warrant(s) (Journal Number 039)
  1. The following information is required to journalize the Earned Income Credit (EIC) Surplus Warrant(s) (Journal Number 039).

  2. Source data for the EIC Surplus Warrant(s) journal entry is the warrant(s) from Treasury.

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select Surplus Warrant(s) Click Apply
    Revenue Accounting Control System Sub Menu Record Highlight EIC Surplus N/A
    ACCT Period Accept the highlighted current month or select the future month Click Apply
    Total Amount Enter total amount Click OK or Add
    Maintain Source Journal Document # Enter document number from source document N/A
    Prepare Date Enter current date or date of source document Click OK or Add
    Maintain Journal Entry Ledger Classification Highlight Earned Income Credit or Earned Income Credit (reverse entry) N/A
    Amount Enter the amount to be journalized Click OK
    N/A Screen defaults to the reverse entry Click on Cancel
    Maintain Source Journal Journal Entry If correct Click OK
    If incorrect, highlight the incorrect entry, click edit After correction, click OK
    Maintain Transaction Window Message N/A Click Message
    N/A Type in message Click Enter
    Post N/A Click Post
  3. The following general ledger accounts are affected by Journal 039, EIC Surplus Warrant(s):

    Account Number Post As Account Name
    5610 Debit HQ Expense, EIC
    0206 Credit HQ Surplus Warrant(s), EIC

Health Coverage Tax Credit/Informant Surplus Warrant(s) (Journal Number 071)
  1. The following information is required to journalize the Health Coverage Tax Credit (HCTC)/Informant Surplus Warrant(s) (Journal Number 071).

  2. Source data for the HCTC/Informant Surplus Warrant(s) journal entry is the warrant(s) from Treasury.

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select Surplus Warrant(s) Click Apply
     
    RACS Sub Menu Record Highlight HCTC/Informant, Surplus Warrant(s) N/A
    ACCT Period Accept the highlighted current month or select the future month Click Apply
    Maintain Source Journal Document # Enter document number from source document N/A
    Prepare Date Enter current date or date of source document Click OK or Add
    Maintain Journal Entry Ledger Classification Highlight HCTC/Informant, Surplus Warrant(s) N/A
    Amount Enter the amount to be journalized Click OK
    N/A Screen defaults to the reverse entry Click Cancel
    Maintain Source Journal Journal Entry If correct Click OK
    If incorrect, highlight the incorrect entry, click edit After correction, click OK
    Maintain Transaction Window Message N/A Click Message
    N/A Type in message Click Enter
      Post N/A Click Post
  3. The following general ledger accounts are affected by Journal 071, HCTC/Informant Surplus Warrant(s):

    Account Number Post As Account Name
    HCTC Surplus Warrant(s)
    5651 Debit HQ Expense Disbursement, HCTC
    0223 Credit HQ Surplus Warrant(s), HCTC
    Informant Surplus Warrant(s)
    5620 Debit HQ Expense, Informant Reward
    0243 Credit HQ Surplus Warrant(s), Informant
Hire-Bond Surplus Warrant(s): Energy Conservation Bonds, Clean Renewable Energy Bonds, Qualified School Construction Bonds, and Qualified Zone Academy Bonds (Journal Number 042)
  1. The following information is required to journalize the Hire-Bond Surplus Warrant (Journal Number 042).

  2. Source data for the Hire-Bond Surplus Warrant(s) journal entries are the warrant(s) from Treasury.

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select Surplus Warrant(s) Click Apply
     
    RACS Sub Menu Record Highlight Hire-Bond Surplus Warrant(s) N/A
    ACCT Period Accept the highlighted current month or select the future month Click Apply
    Maintain Source Journal N/A N/A Click Cancel
    Maintain Transaction Window Possible Source Journals Highlight possible source journal Click Action then Add
    Maintain Source Journal Document # Enter document number from source document N/A
    Prepare Date Enter current date or date of source document Click OK or Add
    Maintain Journal Entry Ledger Classification Highlight preferred ledger classification N/A
    Amount Enter the amount to be journalized Click OK
    Maintain Source Journal Journal Entry If correct Click OK
    If incorrect, highlight the incorrect entry, click edit After correction, click OK
    Maintain Transaction Window Message N/A Click Message
    N/A Type in message Click Enter
      Post N/A Click Post
  3. The following general ledger accounts are affected by Journal 042, Hire-Bond Surplus Warrant(s):

    Account Number Post As Account Name
    Energy Conservation Bonds, Surplus Warrant(s)
    5655 Debit Energy Conservation Bonds, HQ Disb.
    0248 Credit Conservation Bonds, Surplus Warrant(s)
    Qualified School Construction, Surplus Warrant(s)
    5657 Debit School Construction Bonds, HQ Disb
    0246 Credit School Construction Bonds, Surplus Warrant(s)
    Renewable Energy Bonds, Surplus Warrant(s)
    5654 Debit Renewable Energy Bonds, HQ Disb.
    0247 Credit Renewable Energy Bonds, Surplus Warrant(s)
    Zone Academy Bonds, Surplus Warrant(s)
    5656 Debit Zone Academy Bonds, HQ Disb.
    0245 Credit Zone Academy Bonds, Surplus Warrant(s)
Premium Tax Credit, Surplus Warrant(s) (Journal Number 701)
  1. The following information is required to journalize the Premium Tax Credit (PTC) Surplus Warrant(s) (Journal Number 701).

  2. Source data for the Premium Tax Credit Surplus Warrant(s) journal entry is the warrant(s) from Treasury.

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select Surplus Warrant(s) Click Apply
    RACS Sub Menu Record Highlight PTC Surplus Warrant(s) N/A
      ACCT Period Accept the highlighted current month or select the future month Click Apply
    Maintain Source Journal Document # Enter document number from source document N/A
      Prepare Date Enter current date or date of source document Click OK or Add
    Maintain Journal Entry Ledger Classification Highlight PTC Surplus Warrant(s) N/A
      Amount Enter the amount to be journalized Click OK
      N/A Screen defaults to the reverse entry Click Cancel
    Maintain Source Journal Journal Entry If correct Click OK
        If incorrect, highlight the incorrect entry, click edit After correction, click OK
    Maintain Transaction Window Message N/A Click Message
      N/A Type in message Click Enter
      Post N/A Click Post
  3. The following general ledger accounts are affected by Journal 701, PTC Surplus Warrant(s):

    Account Number Post As Account Name
    Premium Tax Credit, Surplus Warrant(s)
    4049 Debit PTC, Contra Parent
    0249 Credit Premium Tax Cr, Surplus Warrant(s)
Patient Protection Act Surplus Warrant(s): Small Business Tax Credit, and Therapeutic Tax Credit (Journal Number 045)
  1. The following information is required to journalize the Patient Protection Act (PPA) Surplus Warrant(s) (Journal Number 045)

  2. Source data for the PPA Surplus Warrant(s) journal entries are the warrant(s) from Treasury.

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select Surplus Warrant(s) Click Apply
     
    RACS Sub Menu Record Highlight PPA Act Surplus Warrant(s) N/A
    ACCT Period Accept the highlighted current month or select the future month Click Apply
    Maintain Source Journal N/A N/A Click Cancel
    Maintain Transaction Window Possible Source Journals Highlight possible source journal Click Action then Add
    Maintain Source Journal Document # Enter document number from source document N/A
    Prepare Date Enter current date or date of source document Click OK or Add
    Maintain Journal Entry Ledger Classification Highlight preferred ledger classification N/A
    Amount Enter the amount to be journalized Click OK
    Maintain Source Journal Journal Entry If correct Click OK
    If incorrect, highlight the incorrect entry, click on edit After correction, click OK
    Maintain Transaction Window Message N/A Click Message
    N/A Type in message Click Enter
      Post N/A Click Post
  3. The following general ledger accounts are affected by Journal 045, PPA Act Surplus Warrant(s):

    Account Number Post As Account Name
    Small Business, Surplus Warrant(s)
    5673 Debit Small Business Credit, HQ Disb
    0251 Credit Small Business Credit, Surplus Warrant(s)
    Therapeutic Credit, Surplus Warrant(s)
    5659 Debit Therapeutic Credit, HQ Disb
    0252 Credit Therapeutic Credit, Surplus Warrant(s)
Refund Interest Surplus (Journal Number 038)
  1. The following information is required to journalize the Refund Interest Surplus Warrant(s) (Journal Number 038).

  2. Source data for the Refund Interest Surplus Warrant(s) journal entry is the warrant(s) from Treasury.

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select Surplus Warrant(s) Click Apply
     
    RACS Sub Menu Record Highlight Refund IRC Interest Surplus N/A
    ACCT Period Accept the highlighted current month or select the future month Click Apply
    Maintain Source Journal Document # Enter document number from source document N/A
    Prepare Date Enter current date or date of source document Click OK or Add
    Maintain Journal Entry Ledger Classification Highlight Principal  
    Amount Enter the amount to be journalized Click OK
    N/A Screen defaults to the reverse entry Click Cancel
    Maintain Source Journal Journal Entry If correct Click OK
    If incorrect, highlight the incorrect entry, click edit After correction, click OK
    Maintain Transaction Window Message N/A Click Message
    N/A Type in message Click Enter
      Post N/A Click Post
  3. The following general ledger accounts are affected by Journal 038 Refund Interest Surplus:

    Account Number Post As Account Name
    5650 Debit HQ Expense Disbursement, Interest
    0204 Credit HQ Surplus Warrant(s), Interest

Refund Principal Surplus (Journal Number 037)
  1. The following information is required to journalize the Refund Principal Surplus Warrant(s) (Journal Number 037).

  2. Source data for the Refund Principal Surplus Warrant(s) journal entry is the warrant(s) from Treasury.

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select Surplus Warrant(s) Click Apply
     
    RACS Sub Menu Record Highlight Refund IRC Principal Surplus Warrant(s) N/A
    ACCT Period Accept the highlighted current month or select the future month Click Apply
    Maintain Source Journal Document # Enter document number from source document N/A
    Prepare Date Enter current date or date of source document Click OK or Add
    Maintain Journal Entry Ledger Classification Highlight Principal N/A
    Amount Enter the amount to be journalized Click OK
    N/A Screen defaults to the reverse entry Click Cancel
    Maintain Source Journal Journal Entry If correct Click OK
    If incorrect, highlight the incorrect entry, click edit After correction, click OK
    Maintain Transaction Window Message N/A Click Message
    N/A Type in message Click Enter
      Post N/A Click Post
  3. The following general ledger accounts are affected by Journal 037 Refund Principal Surplus:

    Account Number Post As Account Name
    5640 Debit HQ Expense, Disbursement, Principal
    0203 Credit HQ Surplus Warrant(s), Principal

Refundable Credit Surplus Warrant (Journal Number 069)
  1. The following information is required to journalize Refundable Credit Surplus Warrant (Journal Number 069).

  2. Source data for the Refundable Credit Surplus Warrant(s) journal entries are the warrant(s) from Treasury.

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select Surplus Warrant(s) Click Apply
     
    RACS Sub Menu Record Highlight Refundable Surplus Warrant(s) N/A
    ACCT Period Accept the highlighted current month or select the future month Click Apply
    Maintain Source Journal Document # Enter document number from source document N/A
    Prepare Date Enter current date or date of source document Click OK or Add
    Maintain Journal Entry Ledger Classification Highlight preferred ledger classification N/A
    Amount Enter the amount to be journalized Click OK
    Maintain Source Journal Journal Entry If correct Click OK
    If incorrect, highlight the incorrect entry, click edit After correction, click OK
    Maintain Transaction Window Message N/A Click Message
    N/A Type in message Click Enter
      Post N/A Click Post
  3. The following general ledger accounts are affected by Journal 069, Refundable Credit Surplus Warrant(s):

    Account Number Post As Account Name
    AMT - Individual, Principal
    5670 Debit HQ Expense, Amt- IND
    0229 Credit HQ Surplus Warrant, Amt - IND
    Housing, Principal
    5671 Debit HQ Expense, Housing
    0230 Credit HQ Surplus Warrant, Amt - IND
    AMT - Corporate, Principal
    5672 Debit HQ Expense, AMT - Corp
    0231 Credit HQ Surplus Warrant, Amt - Corp.
Warrant(s)/Supplemental Warrant(s)
  1. T The Warrant(s)/Supplemental Warrant(s) option in the RACS Main Menu is used to post Treasury disbursement of Principal, Interest, Earned Income Credit (EIC) and Child Credit which increases the disbursement of account totals.

    1. Warrant(s) are issued by Treasury at the beginning of a fiscal year to provide funds for tax refunds.

    2. Supplemental Warrants are requested from Treasury during the fiscal year when funds to issue refunds are almost depleted.

    3. Source data for all Warrant(s) journal entries are the warrant(s) from Treasury.

American Opportunity Credit Warrant(s) (Journal Number 078)
  1. The following information is required to journalize the American Opportunity Credit Warrant(s) (Journal Number 078).

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select Warrant(s)/Suppl. Click Apply
    RACS Sub Menu Record Highlight American Opportunity Credit, Warrant(s) N/A
    ACCT Period Accept the highlighted current month or select the future month Click Apply
    Maintain Source Journal Document # Enter document number from source document N/A
    Prepare Date Enter current date or date of source document Click OK or Add
    Maintain Journal Entry Ledger Classification Highlight American Opportunity Credit, Warrant(s) N/A
    Amount Enter the amount to be journalized Click OK
    N/A Screen defaults to the reverse entry Click Cancel
    Maintain Source Journal Journal Entry If correct Click OK
    If incorrect, highlight the incorrect entry, click edit After correction, click OK
    Maintain Transaction Window Message N/A Click Message
    N/A Type in message Click Enter
      Post N/A Click Post
  2. The following general ledger accounts are affected by Journal 078 American Opportunity Credit Warrant(s):

    Account Number Post As Account Name
    American Opportunity Credit Warrant(s)
    0032 Debit HQ Warrant(s), American Opportunity Tax Credit
    5647 Credit HQ Expense, American Opportunity Tax Credit
Build America Bond Warrant(s) (Journal Number 098)
  1. The following information is required to journalize the Build America Bond, Warrant(s) (Journal Number 098):

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select Warrants/ Suppl. Warrant(s) Click Apply
    RACS Sub Menu Record Highlight Build America, Warrant(s) N/A
    ACCT Period Accept the highlighted current month or select the future month Click Apply
    Maintain Source Journal Document # Enter document number from source document N/A
    Prepare Date Enter current date or date of source document Click OK or Add
    Maintain Journal Entry Ledger Classification Highlight Build America, Warrant N/A
    Amount Enter the amount to be journalized Click OK
    N/A Screen defaults to the reverse entry Click Cancel
    Maintain Source Journal Journal Entry If correct Click OK
    If incorrect, highlight the incorrect entry, click edit After correction, click OK
    Maintain Transaction Window Message N/A Click Message
    N/A Type in message Click Enter
      Post N/A Click Post
  2. The following general ledger accounts are affected by Journal 098, Build America Bond, Warrant(s):

    Account Number Post As Account Name
    Build America, Warrant(s)
    0035 Debit HQ Warrant(s), Build America Bond
    5648 Credit HQ Expense, Build America Bond
Child Credit Warrant(s) (Journal Number 022)
  1. The following information is required to journalize the Child Credit Warrant(s) (Journal Number 022):

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select Warrants/Supplemental Warrant(s) Click Apply
    RACS Sub Menu Record Highlight Child Credit Warrant(s) N/A
    ACCT Period Accept the highlighted current month or select the future month Click Apply
    Maintain Source Journal Document # Enter document number from source document N/A
    Prepare Date Enter current date or date of source document Click OK or Add
    Maintain Journal Entry Ledger Classification Highlight Child Credit Warrant or Reverse Child Credit Warrant(s) N/A
    Amount Enter the amount to be journalized Click OK
    N/A Screen defaults to the reverse entry Click Cancel
    Maintain Source Journal Journal Entry If correct Click OK
    If incorrect, highlight the incorrect entry, click edit After correction, click OK
    Maintain Transaction Window Message N/A Click Message
      Type in message Click Enter
    Post N/A Click Post

  2. The following general ledger accounts are affected by Journal 022, Child Credit Warrant(s):

    Account Number Post As Account Name
    Child Credit Warrant(s)
    0022 Debit HQ Warrant(s), Child Credit
    5660 Credit HQ Expense, Child Credit

Earned Income Credit (Journal Number 034)
  1. The following information is required to journalize the EIC Warrant(s), (Journal Number 034):

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select Warrant(s)/ Suppl. Warrant(s) Click Apply
    RACS Sub Menu Record Highlight EIC N/A
    ACCT Period Accept the highlighted current month or select the future month Click Apply
    Maintain Source Journal Document # Enter document number from source document N/A
    Prepare Date Enter current date or date of source document Click OK or Add
    Maintain Journal Entry Ledger Classification Highlight EIC, Warrant(s) N/A
    Amount Enter the amount to be journalized Click on OK
    N/A Screen defaults to the reverse entry Click Cancel
    Maintain Source Journal Journal Entry If correct Click on OK
    If incorrect, highlight the incorrect entry, click on edit After correction, click OK
    Maintain Transaction Window Message N/A Click Message
      Type in message Click Enter
    N/A Post N/A Click Post
  2. The following general ledger accounts are affected by Journal 034, EIC:

    Account Number Post As Account Name
    Earned Income Credit
    0006 Debit HQ Warrant(s), EIC
    5610 Credit HQ Expense, EIC

Health Coverage Tax Credit/Informant Warrant(s) (Journal Number 070)
  1. The following information is required to journalize the HCTC/Informant Warrant(s) (Journal Number 070):

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select Warrant(s)/Suppl. Warrant(s) Click Apply
    RACS Sub Menu Record Highlight HCTC/Informant Warrant(s) N/A
    ACCT Period Accept the highlighted current month or select the future month Click Apply
    Maintain Source Journal Document # Enter document number from source document N/A
    Prepare Date Enter current date or date of source document Click OK or Add
    Maintain Journal Entry Ledger Classification Highlight HCTC/Informant, Warrant(s) N/A
    Amount Enter the amount to be journalized Click OK
    N/A Screen defaults to the reverse entry Click Cancel
    Maintain Source Journal Journal Entry If correct Click OK
    If incorrect, highlight the incorrect entry, click edit After correction, click OK
    Maintain Transaction Window Message N/A Click Message
    N/A Type in message Click Enter
      Post N/A Click Post
  2. The following general ledger accounts are affected by Journal 066, HCTC/Informant Warrant(s):

    Account Number Post As Account Name
    HCTC Warrant(s)
    0023 Debit HQ Warrant(s), HCTC
    5651 Credit HQ Expense Disbursement, HCTC
    Informant Warrant(s)
    0043 Debit HQ Warrant(s), Informant
    5620 Credit HQ Expense Informant Reward
Hiring Incentives to Restore Employment-Bond Warrant(s): Energy Conservation Bond, Clean Renewable Energy Bond, Qualified School Construction Bond, and Qualified Zone Academy Bond (Journal Number 041)
  1. The following information is required to journalize the Hiring Incentives to Restore Employment-Bond Warrant(s) (Journal Number 041):

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select Warrant(s)/Suppl. Warrant(s) Click Apply
    RACS Sub Menu Record Highlight Hire-Bond Warrant(s) N/A
    ACCT Period Accept the highlighted current month or select the future month Click Apply
    Maintain Source Journal N/A N/A Click Cancel
    Maintain Transaction Window Possible Source Journals Highlight possible source journal Click Action then Add
    Maintain Source Journal Document # Enter document number from source document N/A
    Prepare Date Enter current date or date of source document Click OK or Add
    Maintain Journal Entry Ledger Classification Highlight possible source journals N/A
    Amount Enter the amount to be journalized Click OK
    Maintain Source Journal Journal Entry If correct Click OK
    If incorrect, highlight the incorrect entry, click edit After correction, click OK
    Maintain Transaction Window Message N/A Click Message
      Type in message Click Enter
      Post N/A Click Post
  2. The following general ledger accounts are affected by Journal 041 Hire-Bond Warrant(s):

    Account Number Post As Account Name
    Energy Conservation Bond, Warrant(s)
    0048 Debit Energy Conservation Bond, Warrant(s)
    5655 Credit Energy Conservation Bond, HQ Disb
    Renewable Energy Bond, Warrant(s)
    0047 Debit Renewable Energy Bond, Warrant(s)
    5654 Credit Renewable Energy Bond, HQ Disb
    School Construction Bonds, Warrant(s)
    0046 Debit School Construction Bonds, Warrant(s)
    5657 Credit School Construction Bonds, HQ Disb
    Zone Academy Bonds, Warrant(s)
    0045 Debit Zone Academy Bonds, Warrant(s)
    5656 Credit Zone Academy Bonds, HQ Disb
Patient Protection Act Warrant(s): Small Business Tax Credit, and Therapeutic Tax Credit (Journal Number 044)
  1. The following information is required to journalize the PPA Warrant(s) (Journal Number 044):

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select Warrant(s)/Suppl. Click Apply
    RACS Sub Menu Record Highlight PPA Warrant(s) N/A
    ACCT Period Accept the highlighted current month or select the future month Click Apply
    Maintain Source Journal N/A N/A Click Cancel
    Maintain Transaction Window Possible Source Journals Highlight possible source journal Click Action then Add
    Maintain Source Journal Document # Enter document number from source document N/A
    Prepare Date Enter current date or date of source document Click OK or Add
    Maintain Journal Entry Ledger Classification Highlight possible source journals N/A
    Amount Enter the amount to be journalized Click OK
    Maintain Source Journal Journal Entry If correct Click OK
    If incorrect, highlight the incorrect entry, click edit After correction, click OK
    Maintain Transaction Window Message N/A Click Message
      Type in message Click Enter
      Post N/A Click Post
  2. The following general ledger accounts are affected by Journal 044, PPA Act Warrant(s):

    Account Number Post As Account Name
    Small Business, Warrant(s)
    0051 Debit Small Business, Warrant(s)
    5673 Credit Small Business, HQ Disb
    Therapeutic Credit, Warrant(s)
    0052 Debit Therapeutic Credit. Warrant(s)
    5659 Credit Therapeutic Credit, HQ Disb
Premium Tax Credit Warrant(s) (Journal Number 700)
  1. The following information is required to journalize the PTC Warrant(s), (Journal Number 700):

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select Warrants/Suppl. Click Apply
    RACS Sub Menu Record Highlight PTC Warrant(s) N/A
    ACCT Period Accept the highlighted current month or select the future month Click Apply
    Maintain Source Journal Document # Enter document number from source document N/A
    Prepare Date Enter current date or date of source document Click OK or Add
    Maintain Journal Entry Ledger Classification Highlight PTC Warrant(s) N/A
    Amount Enter the amount to be journalized Click OK
      Screen defaults to the reverse entry Click Cancel
    Maintain Source Journal Journal Entry If correct Click OK
    If incorrect, highlight the incorrect entry, click edit After correction, click OK
    Maintain Transaction Window Message N/A Click Message
      Type in message Click Enter
      Post N/A Click Post
  2. The following general ledger accounts are affected by Journal 700, PTC Warrant(s):

    Account Number Post As Account Name
    Premium Tax Credit Warrant(s)
    0049 Debit Prem Tax Cr, Warrant(s)
    4049 Credit PTC, Contra Parent
Refund IRC Interest (Journal Number 033)
  1. The following information is required to journalize the Refund IRC Interest Warrant(s) (Journal Number 033):

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select Warrant(s)/Suppl. Click Apply
    RACS Sub Menu Record Highlight Refund IRC Interest N/A
    ACCT Period Accept the highlighted current month or select the future month Click Apply
    Maintain Source Journal Document # Enter document number from source document N/A
    Prepare Date Enter current date or date of source document Click OK or Add
    Maintain Journal Entry Ledger Classification Highlight Refund Warrant(s) Interest N/A
    Amount Enter the amount to be journalized Click OK
      Screen defaults to the reverse entry Click Cancel
    Maintain Source Journal Journal Entry If correct Click OK
    If incorrect, highlight the incorrect entry, click edit After correction, click OK
    Maintain Transaction Window Message N/A Click Message
      Type in message Click Enter
      Post N/A Click Post
  2. The following general ledger accounts are affected by Journal 033, Refund IRC Interest:

    Account Number Post As Account Name
    Refund IRC Interest
    0004 Debit HQ Warrant(s), Interest
    5650 Credit HQ Expense Disbursement, Interest

Refund Principal Warrant(s) (Journal Number 032)
  1. The following information is required to journalize the Refund Principal Warrant(s) (Journal Number 032):

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select Warrant(s)/Suppl. Click Apply
    RACS Sub Menu Record Highlight Refund IRC Principal N/A
    ACCT Period Accept the highlighted current month or select the future month Click Apply
    Maintain Source Journal Document # Enter document number from source document N/A
    Prepare Date Enter current date or date of source document Click OK or Add
    Maintain Journal Entry Ledger Classification Highlight Disbursement, Principal or Refunding IRC Principal N/A
    Amount Enter the amount to be journalized Click OK
    N/A Screen defaults to the reverse entry Click Cancel
    Maintain Source Journal Journal Entry If correct Click OK
    If incorrect, highlight the incorrect entry, click edit After correction, click OK
    Maintain Transaction Window Message N/A Click Message
      Type in message Click Enter
    Post N/A Click Post

  2. The following general ledger accounts are affected by Journal 032, Refund Principal Warrant(s):

    Account Number Post As Account Name
    Refund Principal Warrant(s)
    0003 Debit HQ Warrant(s), Principal
    5640 Credit HQ Expense Disbursement, Principal

Refundable Credit Warrant(s) (Journal Number 068)
  1. The following information is required to journalize the Refundable Credit Warrant(s) (Journal Number 068):

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select Warrants/Suppl. Click Apply
    RACS Sub Menu Record Highlight Refundable Warrant N/A
    ACCT Period Accept the highlighted current month or select the future month Click Apply
    Maintain Source Journal Document # Enter document number from source document N/A
    Prepare Date Enter current date or date of source document Click OK or Add
    Maintain Journal Entry Ledger Classification Highlight preferred ledger classification N/A
    Amount Enter the amount to be journalized Click OK
    Maintain Source Journal Journal Entry If correct Click OK
    If incorrect, highlight the incorrect entry, click edit After correction, click OK
    Maintain Transaction Window Message N/A Click Message
      Type in message Click Enter
      Post N/A Click Post
  2. The following general ledger accounts are affected by Journal 068, Refundable Credit Warrant(s):

    Account Number Post As Account Name
    AMT - Individual, Principal
    0029 Debit HQ Warrant(s), Amt - INDV
    5670 Credit HQ Expense, Amt- INDV
    Housing, Principal
    0030 Debit HQ Warrant(s), Amt - INDV
    5671 Credit HQ Expense, Housing
    AMT - Corporate, Principal
    0031 Debit HQ Warrant(s), Amt - Corp
    5672 Credit HQ Expense, AMT - Corp
Other Applications
  1. This subsection contains instructions for journals listed in the HQ Other Control Main Menu. Select Other from the HQ Main Menu.

Allowance for Doubtful Accounts (ADA) (Journal Number 073)
  1. The following information is required to journalize the ADA (Journal Number 073).

  2. Source data for the ADA is the three day close monthly spreadsheet from the Revenue Oversight and Support Group.

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select Other Click Apply
    RACS Sub Menu Record Highlight Allowance Doubt Acct (ADA) N/A
    ACCT Period Accept the highlighted current month or select the future month Click Apply
    Maintain Source Journal Document # Enter ADA and the month from the source document N/A
    Prepare Date Enter current date or date of source document Click OK or Add
    Maintain Journal Entry Ledger Classification Highlight ADA, Reversal N/A
    Amount Enter the amount to be journalized Click OK
    N/A Screen defaults to the reverse entry Click Cancel
    Maintain Source Journal Journal Entry If correct Click OK
    If incorrect, highlight the incorrect entry, click edit After correction, click OK
    Maintain Transaction Window Message N/A Click Message
      Type in message Click Enter
      Post N/A Click Post
  3. The following general ledger accounts are affected by Journal 073, Allowance for Doubtful Accounts (ADA):

    Account Number Post As Account Name
    Allowance for Doubtful Accounts
    1429 Debit Allowance for Doubtful Accounts
    4150 Credit HQ Due to Treasury, ADA
American Opportunity Tax Credit, Reclass (Journal Number 077)
  1. The following information is required to journalize the AOTC Reclass (Journal Number 077).

  2. Source data for AOTC entry is the Individual Income Tax Credits report (IITC report #480-1M-11) obtained from Control D.

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select Other Click Apply
    RACS Sub Menu Record Highlight AOTC, Reclass N/A
    ACCT Period Accept the highlighted current month or select the future month Click Apply
    Maintain Source Journal Document # Enter document number from source document N/A
    Prepare Date Enter current date or date of source document Click OK or Add
    Maintain Journal Entry Ledger Classification Highlight AOTC, Reclass N/A
    Amount Enter the amount to be journalized Click OK
    N/A Screen defaults to the reverse entry Click Cancel
    Maintain Source Journal Journal Entry If correct Click OK
    If incorrect, highlight the incorrect entry, click edit After correction, click OK
    Maintain Transaction Window Message N/A Click Message
      Type in message Click Enter
      Post N/A Click Post
  3. The following general ledger accounts are affected by Journal 077, AOTC Reclass:

    Account Number Post As Account Name TAS
    American Opportunity Tax Credit
    0903 Debit HQ Disbursement, Principal 20X0903
    0932 Credit Disbursement, American Opportunity Tax 20X0932
  4. The following transaction is made in the Treasury reclassification module:

    Reclass Entry
    Debits Credits
    TAS GROSS DISBURSEMENTS TAS GROSS DISBURSEMENTS
    20X0932 Debit 20X0903 Credit

Build America Bond and Recovery Zone Bond, Reclass (Journal Number 097)
  1. The following information is required to journalize the Build America Bond, Reclass (Journal Number 097).

  2. Source data for the Build America Bond entry is the BITC report (BITC report #180-1D-11) obtained from Control D.

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select Other Click Apply
    RACS Sub Menu Record Highlight Build America, Reclass N/A
    ACCT Period Accept the highlighted current month or select the future month Click Apply
    Maintain Source Journal Document # Enter document number from source document N/A
    Prepare Date Enter current date or date of source document Click OK or Add
    Maintain Journal Entry Ledger Classification Highlight Build America, Reclass N/A
    Amount Enter the amount to be journalized Click OK
    N/A Screen defaults to the reverse entry Click Cancel
    Maintain Source Journal Journal Entry If correct Click OK
    If incorrect, highlight the incorrect entry, click edit After correction, click OK
    Maintain Transaction Window Message N/A Click Message
      Type in message Click Enter
      Post N/A Click Post
  3. The following general ledger accounts are affected by Journal 097, Build America Bond, Reclass:

    Account Number Post As Account Name TAS
    Build America Bond, Reclass TAS
    0903 Debit HQ Disbursement, Principal 20X0903
    0935 Credit Disbursement, Build America Bond 20X0935
    Recovery Zone, Reclass TAS
    0903 Debit HQ Disbursement, Principal 20X0903
    0935 Credit Disbursement, Build America Bond 20X0935
  4. The following transaction is made in the Treasury reclassification module:

    Reclass Entry
    Debits Credits
    TAS GROSS DISBURSEMENTS TAS GROSS DISBURSEMENTS
    Build America Bond, Reclass  
    20X0935 Debit 20X0903 Credit
    Recovery Zone, Reclass  
    20X0935 Debit 20X0903 Credit

Child Credit Disbursement (Journal Number 011)
  1. The following information is required to journalize the Child Credit Disbursements.

  2. Source data for the Child Credit entry is the IITC report (IITC report #480-1M-11) obtained from Control D.

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select OTHER Click Apply
    RACS Sub Menu Record Highlight/select Child Credit Disbursement N/A
    ACCT Period Accept the highlighted current month or select the future month Click Apply
    Maintain Source Journal Document # Enter document number from source document N/A
    Prepare Date Enter current date or date of source document N/A
    Maintain Journal Entry Ledger Classification Highlight Child Credit Disbursement N/A
    Amount Enter the amount to be journalized Click OK
    N/A Screen defaults to the reverse entry Click Cancel
    Maintain Source Journal Journal Entry If correct Click OK
    If incorrect, highlight the incorrect entry, click edit After correction, click OK
    Maintain Transaction Window Possible Source Journals Highlight NTRR Line Data DEC. Click Action then Add
    Maintain Source Journal N/A N/A Click OK or Add
    Maintain Journal Entry Line # Enter 2 N/A
    Principal Click on box N/A
    Item Enter 1 N/A
    Amount Enter amount N/A
    N/A N/A When next screen appears repeat for all Decreases, then click Cancel
    Maintain Source Journal N/A N/A When next screen appears it gives status, click OK
    Maintain Transaction Window Possible Source Window Highlight NTRR Increase Click Action then Add
    Maintain Journal Entry Line # Enter 2 N/A
    Principal Click on box N/A
    Item Enter 1 N/A
    Amount Enter amount N/A
    N/A N/A When next screen appears repeat for all Increases, then click Cancel
    Maintain Source Journal N/A N/A When next screen appears it gives status, click OK
    Maintain Transaction Window Message N/A Click Message
      Type in message Click Enter
    Post N/A Click Post
  3. The following general ledger accounts are affected by the Journal 011 Child Care Tax Credit:

    Account Number Post As Account Name
    Child Care Tax Credit
    0903 Debit HQ Disbursement Principal
    0922 Credit HQ Child Credit
  4. The following transaction is made in the Treasury reclassification module:

    Reclass Entry
    Debits Credits
    TAS GROSS DISBURSEMENTS TAS GROSS DISBURSEMENTS
    20X0922 Debit 20X0903 Credit

Debt Master File (DMF) Transfer From Budget Clearing Account (BCA) (Journal Number 004)
  1. The following information is required to journalize the transfer of DMF Refund Offsets from the BCA to the Interest Appropriation ACCT and the IRS reimbursable charge for collection (Journal 004).

  2. Source data for the DMF Interest entry is the monthly DMF 224 Statement of Transactions.

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select OTHER Click Apply
    RACS Sub Menu Record Highlight/select DMF Transfer from BCA N/A
    ACCT Period Accept the highlighted current month or select the future month Click Apply
    Maintain Source Journal Document # Enter document number from source document N/A
    Prepare Date Enter current date or date of source document N/A
    Cycle Enter cycle period Click OK or Add
    Maintain Journal Entry Ledger Classification Highlight DMF Transfer from BCA N/A
    Amount Enter the amount to be journalized Click OK
    N/A Screen defaults to the reverse entry Click Cancel
    Maintain Source Journal Journal Entry If correct Click OK
    If incorrect, highlight the incorrect entry, click edit After correction, click OK
    Maintain Transaction Window Possible Source Journals Highlight Excise NTRR Decrease Click Action then Add
    Maintain Source Journal N/A N/A Click OK or Add
    Maintain Journal Entry Line # Enter 4 N/A
    Interest Click on box N/A
    Item Enter 1 N/A
    Amount Enter amount N/A
    Maintain Source Journal N/A N/A Click Cancel
    Maintain Transaction Window Message N/A Click Message
      Type in message Click Enter
    Post N/A Click Post
  3. The following general ledger accounts are affected by Journal 004, DMF Transfer from BCA:

    Account Number Post As Account Name
    Debt Master File Transfer from Budget Clearing Account
    0904 Debit HQ Disbursement, Interest
    5260 Debit HQ Debtor Master File
    3875 Credit HQ Liability, Debtor Master File
    5261 Credit HQ DMF Interest Reimbursement

  4. The following transaction is made in the Treasury reclassification module:

    Reclass Entry
    Debits Credits
    TAS GROSS DISBURSEMENTS TAS GROSS DISBURSEMENTS
    20F3885.11 Debit 20X0904 Credit

Earned Income Credit (EIC) Advance (Journal 001)
  1. The following information is required to journalize the EIC Advance which involves money paid by employers to employees (Journals 001).

  2. Source data for the EIC ADVANCE entry is the IITC report (IITC report #480-1M-11) obtained from Control D.

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select OTHER Click Apply
    RACS Sub Menu Record Highlight/select EIC Advance N/A
    ACCT Period Accept the highlighted current month or select the future month Click Apply
    Maintain Source Journal Document # Enter document number from source document N/A
    Prepare Date Enter current date or date of source document N/A
    Cycle Enter cycle period Click OK or Add
    Maintain Journal Entry Ledger Classification Highlight EIC Advance or EIC Advance (CR) N/A
    Amount Enter the amount to be journalized Click OK
    N/A Screen defaults to the reverse entry for EIC Click Cancel for EIC
    Maintain Source Journal Journal Entry If correct Click OK
    If incorrect, highlight the incorrect entry, click edit After correction, click OK
    Maintain Transaction Window Message N/A Click Message
      Type in message Click Enter
    Post N/A Click Post

  3. The following general ledger accounts are affected by Journal 001, EIC Advance:

    Menu Option Posting Number Debit Account Credit Account
    Earned Income Credit Advance
    EIC Advance 001 2111 0906
    EIC Advance (CR) 001 0906 2111

  4. The following transaction is made in the Treasury reclassification module:

    Reclass Entry
    Debits Credits
    TAS GROSS DISBURSEMENTS TAS RECEIPT AND COLLECTIONS
    20X0906 Credit 200101 Credit

Earned Income Credit (EIC) Disbursement (Journal Number 057)
  1. The following information is required to journalize the EIC Disbursement (Journal Number 057).

  2. Source data for the EIC Disbursement entry is the IITC report (IITC report #480-1M-11) obtained from Control D.

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select OTHER Click Apply
    RACS Sub Menu Record Highlight/select EIC Disbursement N/A
    ACCT Period Accept the highlighted current month or select the future month Click Apply
    Maintain Source Journal Document # Enter document number from source document N/A
    Cycle Enter cycle date Click OK
    Maintain Journal Entry Ledger Classification Highlight EIC DMF Disbursement N/A
    Amount Enter the amount to be journalized Click OK
      Screen defaults to the reverse entry Click Cancel
    Maintain Source Journal Journal Entry If correct Click OK
    If incorrect, highlight the incorrect entry, click edit After correction, click OK
    Maintain Transaction Window Possible Source Journals Highlight NTRR Line Data DEC or INC. (Only one or the other) Click Action then Add
    Maintain Source Journal N/A N/A Click OK or Add
    Maintain Journal Entry Line # Enter 2 N/A
    Principal Click on box N/A
    Items Enter 1 N/A
    Amount Enter amount N/A
    N/A N/A When next screen appears click Cancel
    Maintain Source Journal N/A N/A When next screen appears it gives status, Click OK
    Maintain Transaction Window Message N/A Click Message
      Type in message Click Enter
    Post N/A Click Post
  3. The following general ledger accounts are affected by Journal 057, EIC Disbursements:

    Account Number Status Account Name
    Earned Income Credit Disbursements
    0903 Debit HQ Disbursement, Principal
    0906 Credit Disbursement, Earned Income CR
  4. The following transaction is made in the Treasury reclassification module:

    Reclass Entry
    Debits Credits
    TAS GROSS DISBURSEMENTS TAS GROSS DISBURSEMENTS
    20X0906 Debit 20X0903 Credit

Earned Income Credit (EIC) Debt Master File (DMF) Offset (Journal Number 056)
  1. The following information is required to journalize the EIC DMF Offset (Journal 056).

  2. Source data for the EIC DMF entry is the IITC report (IITC report #480-1M-11) obtained from Control D.

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select OTHER Click Apply
    RACS Sub Menu Record Highlight/select EIC DMF Offset N/A
    ACCT Period Accept the highlighted current month or select the future month Click Apply
    Maintain Source Journal Document # Enter document number from source document N/A
    Cycle Enter cycle date Click OK
    Maintain Journal Entry Ledger Classification Highlight EIC DMF Offset N/A
    Amount Enter the amount to be journalized Click OK
    N/A Screen defaults to the reverse entry Click Cancel
    Maintain Source Journal Journal Entry If correct Click OK
    If incorrect, highlight the incorrect entry, click edit After correction, click OK
    Maintain Transaction Window Possible Source Journals Highlight NTRR Line Data DEC or INC. (Only one or the other) Click Action then Add
    Maintain Source Journal N/A N/A Click OK or Add
    Maintain Journal Entry Line # Enter 2 N/A
    Principal Click on box N/A
    Item Enter 1 N/A
    Amount Enter amount N/A
    N/A N/A When next screen appears click Cancel
    Maintain Source Journal N/A N/A When next screen appears it gives status, click OK
    Maintain Transaction Window Message N/A Click Message
      Type in message Click Enter
    Post N/A Click Post
  3. The following general ledger accounts are affected by Journal 056, EIC DMF Offset:

    Account Number Status Account Name
    Earned Income Credit Debt Master File Offset
    0903 Debit HQ Disbursement, Principal
    0906 Credit Disbursement, Earned Income CR
  4. The following transaction is made in the Treasury reclassification module:

    Reclass Entry
    Debits Credits
    TAS GROSS DISBURSEMENTS TAS GROSS DISBURSEMENTS
    20X0906 Debit 20X0903 Credit

Excess Federal Insurance Contribution Act (Journal 006)
  1. The following information is required to journalize the Excess Federal Insurance Contribution Act (FICA) (Journal Number 006).

  2. Source data for the Excess FICA entry is the IPAC.

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select OTHER Click Apply
    RACS Sub Menu Record Highlight/select Excess FICA N/A
    Account Period Accept the highlighted current month or select the future month Click Apply
    Maintain Source Journal Document # Enter document number from source document N/A
    Prepare Date Enter current date or date of source document Click OK or Add
    Maintain Journal Entry Ledger Classification Highlight Excess FICA N/A
    Amount Enter the amount to be journalized Click OK
    N/A Screen defaults to a reverse entry Click Cancel
    Maintain Source Journal Journal Entry If correct Click OK
    If incorrect, highlight the incorrect entry, click edit After correction, click OK
    Maintain Transaction Window Possible Source Journals Highlight NTRR Increase Click Action then Add
    Maintain Source Journal N/A N/A Click OK or Add
    Maintain Journal Entry Line # Enter 12 N/A
    Principal Click on box N/A
    Item Enter 1 N/A
    Amount Enter amount N/A
    Maintain Source Journal N/A N/A When next screen appears it gives status, click Cancel
    Maintain Transaction Window Message N/A Click Message
      Type in message Click Enter
    Post N/A Click Post
  3. The following general ledger accounts are affected by Journal 006, Excess FICA:

    ACCT Number Post As Account Name
    Excess Federal Insurance Contribution Act
    0903 Debit HQ Disbursement Principal
    2121 Debit HQ Individual Income
    0903 Credit HQ Disbursement Principal
    5901 Credit HQ Excess FICA
  4. The following transaction is made in the Treasury reclassification module:

    Reclass Entry
    Debits Credits
    TAS GROSS DISBURSEMENTS TAS RECEIPT AND COLLECTIONS
    20X0903 Debit 200110 Credit

  5. Journal 006 is used for journalizing of the Excess FICA credit disbursements from the refund principal appropriation to reimburse the Individual Income Tax (Tax Class -T/C 2) trust fund receipt account. This is a once a year entry received from the Social Security Administration in August or September.

Excise Tax-Form 4136, Credit for Federal Tax Paid on Fuels, and Form 8849, Claims for Refund of Excise Tax (Journal Number 007)
  1. The following information is required for journalizing the reclassification of Excise Tax credits for fuel identified by the Treasury 90 report. These credits result in a disbursement from the Refund Principal appropriation and a reimbursement to Individual Income Tax (T/C 2) and Corporate Income Tax (T/C 3) trust fund receipts (Journal 007).

  2. Source data for the Excise (Journal 007) entry is the Highway Trust Fund and Airport and Airways Refunds certifications (Credit Side).

    Windows Prompt Description / Action Select or Enter
    RACS Main Menu N/A Highlight/select OTHER Click Apply
    RACS Sub Menu Record Highlight/select Excise (Forms 4136 and 8849) N/A
    ACCT Period Accept the highlighted current month or select the future month Click Apply
    Maintain Source Journal Document # Enter document number from source document N/A
    Prepare Date Enter current date or date of source document Click OK or Add
    Maintain Journal Entry Ledger Classification Highlight Principal 20X0903(04) N/A
    Amount Enter the amount to be journalized Click OK
    N/A Highlight T/C 3 Corporation N/A
    N/A Enter the amount to be journalized Click OK