@Wanna_B_TXCPA2014
It's all memorization, but maybe this will help you:
JE:
Order placed (PO): D Encumbrances
C Reserved for Encumbrances
Order filled: D Reserved for Encumbrances
C Encumbrances
Invoiced: D Expenditures
C Vouchers Payable
Payment: D Vouchers Payable
C Cash
-Encumbrances: Estimate of the cost when ready to spend.
-Expenditure: Actual cost that you spend.
Modified: PD Consents to Smoking Grass (all Gov)
Accrual: I PIPE Alot (Pro & Fid)
*then just remember IE for Proprietary
Beginning and Closing Entries:
Beg:
D Estimated Revenues (expected)
D Estimated Other Financing Sources (bond proceeds)
C Budgetary Fund Balance – Unreserved (plug)
C Appropriations (expenditures)
C Estimated Other Financing Uses (operating transfers to debt service)
End:
D Budgetary Fund Balance – Unreserved *
D Appropriations *
D Estimated Other Financial Uses *
C Estimated Revenue *
C Estimated Other Financing Sources *
End: (Actual)
D Revenues *
C Other Financial Sources *
C Fund Balance – Unreserved
C Expenditures *
C Encumbrances
C Other Financial Uses *
-Excess of inflows over outflows is closed into Fund Balance – Unreserved.
End: (Order placed during the year but not fulfilled)
D Fund Balance – Unreserved (amount still open at year end)
C Encumbrances *
End: (Government elects to track its inventory)
D Inventory
C Reserved for Inventories
*Accounts whose entire balance is closed out.
These are all formatted nicely in my notes (no need for the C/D), so C&P kinda ruins it a bit. Maybe some of that will help you.
AUD: 84
REG: 84
BEC: 79
FAR: 83
.