Making the Entries to Record Daily Backup Withholding Payments
NOTE: Perform the following procedure if you had funds backup withheld on the previous day.
On a daily basis, view the 1099 Withholding Transaction Report located in OSCOP* AP 1099-7 DAILY WITHOLD. Withholding payments will be made on a daily basis. After accessing the Cash Management Control System, you first must complete the transfer of funds on the CMCS.
Request for Transfer of Funds screen:
Step # | Instructions |
---|---|
1. |
Type the date from the Payment Date column on the 1099 Withholding Transaction Report (MMDDYY format) in the date field. |
2. |
Type the five-digit budget code in the budget code field. |
3. |
Type 4159 in the department code field to alert OSC of the pending transfer. |
4. |
Type the total amount of the transfer in the total amount field. This amount will come from the 1099 Withholding Transaction Report. |
5. |
Type 1 (for operating) in the transfer type field. |
The second step is to make a journal entry in the NCAS. After accessing the Budgetary Control module:
Step # | Instructions |
---|---|
6. |
Type 211 in the next function field and press Enter to access the Journal Voucher Entry (211) screen. |
7. |
Type a in the option field to add an entry. |
8. |
Determine your document ID number. |
9. |
Type your document ID number in the document id field. Your agency will have a standard numbering system for these transactions. |
10. |
Type your initials in the application area field and press Enter to access the Journal Voucher Entry (212) screen. |
11. |
Type the date from the Payment Date column on the 1099 Withholding Transaction Report (MMDDYY format) in the effective date field. |
12. |
Type the total amount withheld for this company number in the total field. (Be sure to include the decimal point.) This amount will come from the 1099 Withholding Transactions Report. |
13. |
Type your company number in the company id field. |
14. |
Type 1 in the data type code field to indicate a one-sided entry and press Enter to access the Journal Voucher Entry (213) screen. |
15. |
Type a sequence number, beginning with 0001 in the line field. |
16. |
Type a in the transaction code field to add the amount withheld under this center number. |
17. |
Type the account number, 211950, in the account part of the comp/acct/cntr field to debit the withholding account. |
18. |
Tab to the CNTR part of the comp/acct/cntr field and type the center number. |
19. |
Type the amount being debited in the debit/credit amount field. |
20. |
To debit the account, type DR (or 10) in the debit/credit code field. |
21. |
Type Clear Out Back-up Withholding in the description field. |
22. |
Type 561611588 in the second line of the description field, to indicate OSC will receive the funds. |
23. |
Type the appropriate accounting rule (CH or CB) in the accounting rule field. CH offsets cash account 111270. |
24. |
Press Enter. The system is now ready to accept additional lines of your transaction. |
25. |
Repeat Steps 15-24 until all centers under that company number are recorded. |
26. |
When the last line has been entered, Tab to the options field, type E (end) and press Enter. You will return to the Journal Voucher Entry (211) screen and a message will appear indicating the transaction status. |