This primer course reviews the purpose and preparation of the FMS 224: Statement of Transactions used by federal agencies for whom Treasury Regional Financial Centers (RFCs) issues payments. Focusing on reporting by 8-digit Agency Location Code and Appropriation and other fund symbols, students learn how to report deposit and disbursement transactions and the source documents used to prepare the report.
Major topics include:
Terms and concepts
Deposit and disbursement processes used by most federal agencies
Submission deadlines
Reporting by federal accounts (Receipts, Expenditure and Suspense)
Document preparation (by section/by line)
Making corrective entries
Collection, disbursement and check cancellation source documents used to
prepare the report (FMS 215, 5515, 1166, OPAC, 145)
Spotting "red flags" and edit checks in reporting
GOALS II "Internet" Submission
Who should attend:
Preparers, reviewers especially Auditors and Systems personnel or anyone interested in a comprehensive explanation of the FMS 224. Excellent for those with no prior knowledge.
FMS 224: Statement of Transactions