Treasury Receivable, Accounting and Collection System (TRACS) Intra-Governmental…

These are the valid debit and credit accounts for IPAC D (journal #542) (reversal accounts are opposite).

Account Number

DR/CR

Account Name

Principle

4970

Debit

Unapplied Refund Reversal

5100

Credit

Disbursement, Principal (20X0903)

Liability, DOJ Receipt

4975

Debit

Liability, DOJ Receipts

5100

Credit

Disbursement, Principal (20X0903)

IPAC Suspense

4985

Debit

IPACR Suspense

5100

Credit

Disbursement, Principal (20X0903)

This table describes the steps required to complete journal #542.

Step

Prompt

Description / Action

Select or Enter

RACS Main Menu

Highlight/select Disbursement.

Apply

Disbursement Control Main Menu

Record

Select IPAC Receipts or TRACS IPACD.

Tab or Apply

Account Period

Accept the highlighted current month or select the future month. From the Action Bar select...

Apply

Maintain Source Journal

Schedule #

Enter the schedule number assigned to the refund.

Tab Key

Confirm Date

Enter the date in MM-DD-YYYY format.

Items

Enter the total Items.

Enter or Add Button

Maintain Journal Entry

Amount

Enter the amount associated with the selected IRS account.

OK Button

Repeat for additional accounts or select...

Cancel

Maintain Source Journal

Review input data. If correct, select...

OK Button

If information is not correct...

Edit or Delete Button

Maintain Transaction Journal

Highlight/select DMF Reclass from the Possible Source Journals, the next transaction (IPAC receipts only). From the Action Bar select...

Action or Add

Maintain Source Journal

Enter or Add Button

Maintain Journal Entry

Amount

Enter amount associated with selected IRS account.

OK Button

Maintain Transaction Journal

Message

Select Message to enter up to 256 characters of optional audit trail information.

OK Button

Post

Review input data. If correct...

Post Button