Last updated on JUNE 14, 2017
Applies to:PeopleSoft Enterprise FIN General Ledger - Version 9 to 9.2 [Release 9]
Information in this document applies to any platform.
How is oracle handling the new GTAS requirement for the memo 88XX accounts as they relate to asset purchases?
GTAS (Government-wide Treasury Account Symbol Adjusted Trial Balance System) requirement is being implemented but customer hasn't seen anything yet on a software modification in order to handle this new federal requirement when acquiring current year assets.
USSGL Account series 88xx Assets Acquired (excluding 8801 – Offset for the Purchase of Assets)
3107 = 5700 = 4901(Ending minus Beginning) + 4902 = 61xx + 8802 + 8803 + 8804
Approximately 16 Pro Forma FMS Treasury USSGL TFM transaction codes (TCs) trigger the recording of 88xx memo accounts to be recorded on the general ledger. The GTAS bulk file will require 88xx memo account balances represented for each reporting period that represent current period asset acquisitions.
TC-G120 - To record activity for current-year purchases of property, plant, and equipment.
CAPITAL ASSET ACCOUNT SERIES ONLY – Recording of 88xx memo accounts only apply to capital asset accounts or expenditures that meet the capitalization thresholds of $5,000 for personal property, $100,000/2-year for exhibits and $0 for all other categories, as follows:
15xx – Operating materials, supplies and inventory
17xx – Property, plant and equipment
18xx – Leases, leasehold improvements, and internal-use software
19xx – Other Assets
The cross-walk of capital asset accounts and 8xx memo accounts, is as follows:
8802 is associated with 17xx and 18xx accounts
8803 is associated with 15xx accounts
8804 is associated with 19xx account
8801 is the off-set account for memo accounts 8802, 8803, and 8804, respectively
Expense accounts DO NOT APPLY, for example, 61xx account series.
MEMO ACCOUNTS – The 88xx memo accounts are memoranda accounts only and do not affect recorded or reported budgetary and proprietary values on the adjusted trial balance. The 88xx memo accounts are required for GTAS Bulk File attribute reporting, validations and edits
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