Appendix B – AP Payment Cancellation Accounting Events (30.5)

Accounting Events for Stale Dated Payments

• Outstanding (unpaid) System Check (warrant) payments that are 12 months old are identified and cancelled within the monthly stale date process outlined in the 30.5.3 Manage Stale Payments Business Subprocess. The custom Fund Based Escheatment process in Florida PALM identifies those stale dated payments as Escheatable or Exempt from Escheatment based on the Fund and Budget Entity ChartField combination.
• The funds for payments identified as Escheatable are transferred to the Unclaimed Property Trust Fund.
• The funds for the payments identified as Exempt from Escheatment are transferred to the originating fund.
• The associated accounting entries for stale dated payments are generated through the custom process to credit the revenue account and move the cash.
• The original accounting entries for which the payments relate are not altered or adjusted as a result of cancelling the payment and moving funds either to Unclaimed Property or the originating fund.
• These accounting events occur within the 30.5.3 Manage Stale Payments Business Subprocess and are represented on the Accounting Events table.

 Accounting Events for Current and Prior Year Payment Cancellations

• Current year payment cancellation accounting entries are generated through the delivered cancellation process in Florida PALM. The cash and budget are restored upon cancellation.
• Prior year payment cancellation accounting entries are generated through the custom AP Payment Cancellation process in Florida PALM to credit the revenue account instead of the original expense account so that the cash is restored, but budget is not restored.
• These accounting events occur within the 30.5.4 Cancel and Reissue Payments Business Subprocess and are represented on the Accounting Events table.

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