Accounting Process by Office of Financial Services (OFS) What is this and what do you need to know...
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Transcript of Accounting Process by Office of Financial Services (OFS) What is this and what do you need to know...
![Page 1: Accounting Process by Office of Financial Services (OFS) What is this and what do you need to know about it? Click on each slide to advance Use Escape.](https://reader036.fdocuments.in/reader036/viewer/2022062404/5519fc83550346634a8b46b2/html5/thumbnails/1.jpg)
Accounting Processby Office of Financial Services (OFS)
What is this and what
do you need to know
about it?
Click on each slide to advance
Use ‘Escape’ key to exit
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What are Accounting Codes?
• Accounting codes are identifiers used to capture financial information…
They make sure your purchases
and expenses are identified
correctly and paid from the
right “pot” of funds.
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How does this work?
• 1st - Office/Division needs goods/services• Decide type of purchase, who pays, how to code? • Make the purchase or expense• Receive goods/services• Notify OFS
• 2nd - OFS gets bill (from Vendor or Office/Division)
• Record the transaction • Pay the vendor• Get money from source identified by Off/Div• Report how the money was spent
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Why is that important?
• If the information is wrong…..– Payment can be delayed– The State could lose Federal funds– People have to do extra work to correct &
reconcile– Accounting records will be wrong
If you don’t have time to do it right the first time,
when will you ever have time to fix it?
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What codes are used?(Use the Enter key to see the list)
• Class – A grouping of accounts at the state level • Account – What the money was used for?
– (supplies, travel, etc.)
• OPB Sub Program – The budget category• Department ID – Who spent the money?
– (DFCS, OFS, ORS, etc.)
• Project Code – What area of activity was affected? – (Food Stamp benefits, State, Child Care, etc.)
• Fund Source – Where should the money come from?– (State, ‘08 Energy Assist, ‘09 TANF, etc.)
• Begin & End Dates – When did the expense occur?(End of list – press Enter to go to next screen)
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Class & Account
• Where is this located?• OFS Website/Tools
– The Chart of Accounts
• What does it look like?Description Class Account– Regular Salaries 300 501001– Retirement ERS 300 515001– Cost of Goods Sold 301 610001
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OPB Subprogram & DepartmentProject & Fund Source
• Where is it located?• OFS Website/Tools
– The Department ID Manual
• What does it look like? OPB
Div/Off Desc. Dept. ID Sub-Pgm Project Fund Source
DFCS OFI-Elig F/S 4276911109 2014001 20106001 20161
DFCS Foster Care 4276702106 2010102 60013001 01
OFS EBT TANF 4275742241 2010103 13919001 10591
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How to use the Department ID Manual
• Click on the “down arrow” in Column B to see all “Sections” in the list.
• Uncheck the “Select All” box, click on the box that has the section you need and click “OKAY”.
Div/Off Section Description Dept IDOPB-SubProgram
Project Code
SELECT ALL
LONG TERM CARE
HEALTH CARE
RESIDENTIAL CHILD CARE
OKAY CANCEL
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How to use the Department ID Manual (con’t.)
• To further refine your search, using the “Description” column– Check the box(es) for the description within the
“Section” column that you have already selected.
• Uncheck the columns in reverse order.
Div/Off Section Description Dept IDOPB-Subprogram
Project Code
Start Date
End Date
Fund Source
ORS HEALTH CARE Health Care-CLIA 4275734845 2012702 42722119001 10/01/08 09/30/09 11498
ORS HEALTH CAREHealth Care-CLIA-Waiver Project 4275734846 2012702 42722119002 10/01/08 09/30/09 11498
ORS HEALTH CARE Health Care-CLIA-Training 4275734847 2012702 42722119003 10/01/08 09/30/09 11498
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Don’t save the Dept. ID Manual to your computer….it is updated frequently.
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Error reduction through teamwork!
• Call OFS if you have any questions.
• Use the OFS Contact List on this website to find the appropriate phone number.
SCORE!!!!
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THE END
Thank You