ACCOUNTING – SUBSIDIARY RECORDS - 8150

(Renumbered: 10/2022)

Each agency/department will maintain a revolving fund Cash Book and Receivables Ledger to account for all revolving fund transactions. At all times, the balance of the Cash Book plus the Receivables Ledger accounts should equal the amount advanced to the revolving fund from the fund or funds concerned.

The balance of Account No.1101200, Revolving Fund Cash (Legacy Account No. 1130), of the applicable fund or funds will show the amount advanced.

Employees are prohibited from authorizing revolving fund checks payable to cash or themselves. (See SAM Section 7280 for separation of duties.)

See SAM Sections 8072 and 8493 for cash shortages. See SAM Section 7922 for reconciliation of the revolving fund.

Cash Book

The revolving fund Cash Book is the amount of revolving fund cash in the agency/department’s checking account. The agency/department records a revolving fund receipt (replenishment) as a debit and a check payment as a credit. See the 8150 Illustration for an example of the revolving fund Cash Book.

Receivables Ledger

The Receivables Ledger should include employee names, dates, and amounts issued for revolving fund advances. The Receivables Ledger should also record revolving fund reimbursements to identify the receivable balance for each employee.

Agencies/Departments will debit or credit receivable accounts as follows:

For each employee receiving a travel advance:
Debit	Amounts advanced from the revolving fund prior to the time travel is performed.
Credit	Amounts returned by the employee.
Credit	Approved Travel Expense Claims (TEC).
For each employee receiving a revolving fund check for compensation earned:
Debit	Amount of revolving fund check issued.
Credit	Revolving fund reimbursement.
For each custodian of a Change Fund, Cash Purchase Fund, or Cash Payment Fund:
Debit	Amount of revolving fund check issued.
Credit	Amounts returned to the revolving fund.
Debit	Amount of shortages.
Credit	Approved Claim for Reimbursement form, STD 27A or custodian personal reimbursement.
Miscellaneous Expense (invoices with discounts, postage, and miscellaneous transactions):
Debit	Amount of revolving fund check issued.
Credit	Revolving fund reimbursement.