Oil Spill Refund Cancellations

These are the valid accounts for Oil Spill Cancellations (journal #540) (Austin CFO RACS Unit only).

Account Number

DR/CR

Account Name

2600

Debit

Oil Spill Receipts (20X8185)

5200

Debit

Disbursements, Interest (20X0904)

6320

Credit

Offshore Oil Accounts

6520

Credit

Refund of Tax & Interest - NMF

This table describes the steps required to complete journal #540.

Step

Prompt

Description / Action

Select or Enter

RACS Main Menu

Highlight/select Disbursement.

Apply

Disbursement Control Main Menu

Record

Select Cancellations.

Apply

Account Period

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

Apply

RRACS Intermediate Menu

Select the needed Refund Cancellation Transaction: Manual, Deposit Fund, ECC-BMF, ECC-IMF, Photocopy, Anti-Drug, MISC Revenue, Informant Reward, Oil Spill, User Fee, Arbitrage, ECC-CADE, and Cover Over.

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.

Enter or Add Button

Cycle

Select the Cycle (required for ECC cancellations only).

Tab Key

Items

Enter the total Items.

Enter or Add Button

Maintain Journal Entry

Amount

Enter the amount associated with the selected IRS account.

OK Button

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 Informant Reward from the Possible Source Journals. From the Action Bar select...

Action then Add

Maintain Source Journal

Prepare Date

Enter the date in MM-DD-YYYY format.

Enter or Add Button

Review input data. If correct, select...

OK Button

Repeat if additional case, or select...

Cancel