Creating a JV1STND to Revert Over-Accruals 

Process

This job aid describes steps for entering a JV1STND to revert over accruals.

Note: Since the ACL clears the payable to zero; any over-accruals result in a credit in cash expenditures (rather than the payable)

that must be debited for the over-accrued amount. The event types listed below address the accounting entries for over-accruals.

To create a JV1STND to revert over accruals, you will want to follow the steps below:

1. Create a JV1STND.  

2. Use one of the Event Types listed and the appropriate coding.

Available Event Types for Over Accruals:

• XG33 - Use if over-accrual is not related to a grant.
  Impact:  Dr. Expenditure, Cr. Revenue
  NOTE:  When crediting revenue, use revenue source code 830A if the expenditure was against a general, cash, or reappropriated appropriation unit xxxxx9999 if the activity is in Fund 1000.

•  XG35 - Use if over-accrual is related to a closed federal grant.
  Impact:  Dr. Cash Expenditure, Cr. Payable to the Feds

• ' XG36 - Use for over-accruals related to M Head notes in the Long Bill
  Impact (two entries):  Dr. Cash Expenditure, Cr. Fed Receivable
    Dr. Cash Expenditure, Cr. Revenue

3. Enter the amount that was over accrued.

4. Validate and Submit.