Confirmation Arbitrage Refund

These are the valid accounts for Confirmation Arbitrage Refund (journal #590).

Account Number

DR/CR

Account Name

4806

Debit

Approved Vouchers Payable MISC Revenue

5400

Credit

Disbursement, MISC Revenue (20X1807)

This table describes the steps required to complete journal #590.

Step

Prompt

Description / Action

Select or Enter

RACS Main Menu

Highlight/select Disbursement.

Apply

Disbursement Control Main Menu

Account Period

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

Tab Key

Confirm

Select the type of refund from the Conform list box.

Apply

Maintain Source Journal

Schedule #

Enter the Schedule number of the refund. The number must match the number assigned when the refund was journalized.

Tab Key

Confirm Date

Enter the date in MM-DD-YYYY format.

Total Amount

Enter the Total Amount of the refund.

Tab Key

Low Check #

Enter the beginning check sequence number. (Disregard any alpha characters from the GOALS Report)

Tab Key

High Check #

Enter the ending check sequence number. (Disregard any alpha character from the GOALS Report)

Enter or Add Button

Maintain Journal Entry

Select the Principal or Interest account from the Ledger Classification box. (Some refund types have only one option)

Tab Key

Amount

Enter the amount associated with the selected IRS account.

OK Button

Repeat if a second account has an amount, or select...

Cancel Button

Maintain Source Journal

Review input data. If correct, select...

OK Button

If information is not correct...

Edit or Delete Button

Maintain Transaction Journal

Message

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

OK Button

Post

Review input data. If correct...

Post Button