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BK Chapter 4.pdf
 

BK Chapter 4.pdf

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    BK Chapter 4.pdf BK Chapter 4.pdf Document Transcript

    • Indiana Secretary of State Bookkeeper Manual IV. Accounting SnapshotIV. Accounting ‘SnapShot’To get a better understanding of the Accounting principles the State of Indiana operateunder, a brief introduction of commonly used terms is listed below:Fund: Four-digit number that reflects how the account is maintained. EXAMPLE:1000 - Account balance is $0’ed out at the close of each fiscal year. (General Fund)6000 – Account balance continues to accumulate regardless of time (Similar to a standard personal bank account)Center: Specific identifying number when combined with the Fund number representsthe “Account”.Fund/Center: Best described as the “account” from which funds may be received andwithdrawn.Object: Object numbers describe the nature of the transaction. The object code is 6digits in length and for revenue activity it will begin with “4”.When performing all revenue stream process (es) the Fund/Object/Center number isessential to performing the task. Listed on the following page is the Fund/Object/Centerinformation for some of the accounts the Bookkeeper may process activity in. The StateBoard of Accounts Manual goes into the logic behind and applicable object codes inmuch greater detail. The object codes for receiving revenue are listed on the followingpage. It is also ‘locked’ into the fields of the ROC spreadsheet. IV-1
    • Indiana Secretary of State Bookkeeper Manual IV. Accounting Snapshot FUND OBJECT CENTER DESCRIPTION 1000 411000 100400 Majority of Securities Revenue 6810 421000 104000 Securities Guaranty Fund 1000 411000 100400 Corporate Filings 1000 421500 100430 Uniform Commercial Code Filings 1000 411000 105190 Loan Broker Applications 1000 421000 100400 Summons/Collections Agencies/Notaries 1000 490000 100440 Securities Miscellaneous 1000 493000 100400 Return from Bad Checks 1000 421000 210400 Securities Enforcement Fund 6000 490000 141700 Enhance Indiana (AI) Funds 6000 490000 164300 Securities Escrow Account Did you notice which revenue streams have the same Fund/Center? Both Corporate Filings and Summons/Collections/Notaries have the same“Account” Fund/Center = 1000/100400. Each ‘type’ of filing should be depositedseparately for auditing and trend purposes.Notice the Object number differs to indicate the difference of the revenue received.Terms Defined:General Fund – Largest in terms of balance and activity of all state accounts. Fundsused from the General Fund support a variety of programs statewide. Funds areappropriated by the General Assembly. The General Assembly from the General Fundappropriates State Agencies budgetary funds. The majority of revenues received will bedeposited into the General Fund. IV-2
    • Indiana Secretary of State Bookkeeper Manual IV. Accounting SnapshotAuditor’s Office – Executive Branch of the State of Indiana responsible for issuing allwarrants (checks) in regards to any Account Payable. This includes refunds, payroll,and vendor services for example. The Auditor also has the role of the State’s‘Bookkeeper’ recording all transactions. This data is reconciled daily with theTreasurer’s Office.Treasurer’s Office – Serves as the ‘bank’ of the State of Indiana. Receives and holdsall revenue received by the State of Indiana.Shown on the following page is a visualization of cash flow. How funds are collected bythe Secretary of State’s Office and how they should be transported accordingly. REVENUE STREAMS LEGEND/KEY Indicates that the ‘flow’ of materials will continue to another step in the process Indicates that a particular aspect of the process has been completed/expectations satisfied. Customer Staff member Revenue Bookkeeper Report of Collections IV-3
    • Indiana Secretary of State Bookkeeper Manual IV. Accounting Snapshot REVENUE STREAMS A receipt is Staff processes request issued for the transactionCustomer submits Filing/Associated FeeBookkeeper filesrelevant records All revenue and relevantwithin the Office & documentation is submitted to therecords the data Bookkeeperelectronically. Bookkeeper prepares Daily Deposit on the Report of Collections Bookkeeper Bookkeeper submits Report of Collections RECONCILE submits Report of and all revenue to the Treasurer’s Office Collections to the Auditor’s Office Fund/Center Fund/Center IV-4