FIACCT 07-07_11 Revenue – Internal Transactions-PV Type 3 Process

Effective: July 1, 1996
Revised: March 16, 1998

Purpose

The Payment Voucher (PV) Type 3 is another method for creating adjustments, allocations, and corrections to accepted entries with coding block errors.

Policy

A PV Type 3 requires that the seller and buyer have the same fund and agency.

Always enter a 3 in the Type field.

Background

PV Type 3 transactions are available for correcting, allocating, and adjusting entries when the
buyer and seller have the same fund and agency. The transaction format also allows a person to
see all of the lines on the same screen. Immediate updates may be used with PV Type 3
transactions depending on the user’s security profile.

Always enter the Intra-Government section for PV Type 3 transactions. A valid revenue source or
balance sheet account code is required regardless of whether it is used for coding an amount. Any
amount in the Document Total field will be a credit to that account for the seller. Enter zero (0) in
the Document Total field when the revenue source or balance sheet account in the IntraGovernmental section is not part of the adjustment. To credit an object code, fill out the coding
on a detail line using the Decrease radio button.

In the detail lines section, enter up to 25 lines using the increase and decrease buttons.
Increase/Default will debit the account (increase an object code, decrease a revenue source).
Decrease will credit the account (decrease an object code, increase a revenue source).

This transaction does not generate a check, so it does not post to any open tables. The results post
to the budget tables where you can see the impact of the entries. Monthly reports and OLGLPlus
can provide detailed information.

Procedures

Responsibility

Action

Department

Enter accounting information on the Payment Voucher Screen. See
the Internal Transaction – PV Type 3 Screen policy in this section
of this manual for more instructions. The lines can contain both
buyer and seller information.

Fill out the Intra-Governmental section with the seller coding. If an
amount is in the Document Total field, FINET will credit the
Revenue Source code or balance sheet account in this section.

If no errors occur after applying edits FINET will change the
transaction to a PEND status. Apply approvals to the transaction.
The user may also update the transaction if there security profile
allows.

Division of Finance

FINET will accept all PV transactions that are approved and
scheduled during the nightly processing.

Departments

After the PV has been accepted, the transaction can be printed from
the Document Listing. The transaction is then filed in the
department, creating a paper audit trail.