GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 1 of 26 IRC Handout April 23, 2020

Scenario 5 Non-Custodial Statement Collections: Collection of Proceeds From Disposition of Personal Property (Assume the 

replacement property is not acquired within a 2 year period; therefore, the money is deposited into Treasury’s GFR 

Account.) 

Disposition of Personal Property

Agencies can use the proceeds from the disposal of personal property to acquire replacement property within a prescribed time limit 

(the year the property is disposed plus one subsequent year.) If an acquisition of the replacement property does not occur within the 

prescribed time, the proceeds must be transferred to a GFR account.

If agencies have authority from legislation to keep proceeds for more than the prescribed period, then this scenario may not be 

applicable. The purpose of this section is to show how sales proceeds are collected into a GFR account. 

NOTE: In reality, proceeds are deposited directly into an agency’s budget clearing account F3845, “Proceeds of Sales, Personal 

Property,” when personal property is disposed. However, for reporting purposes, the money will appear as if it’s coming into the 

program fund first and is then transferred to the budget clearing account. The accounting entries are illustrated this way so that the 

asset (property) is properly removed from the program fund. 

Currently clearing accounts only record assets and liabilities. But, in this case, when the fund balance is “transferred out” from a 

collecting entity to a clearing account the matching “transferred in” account will not be recorded in the General Fund receipt account 

until the clearing account disburses the fund balance in a subsequent year. For example, a collecting entity will record “transferred 

out” in one year but the matching “transferred in” will not be recorded in the General Fund receipt account until the following year. 

Therefore, the Issues Resolution Committee (IRC) decided that it would be cleaner to record a matching transferred in/out pair when 

the proceeds are transferred from the collecting entity to the clearing account and also when the fund balance is transferred from the 

clearing account to the GFR account in the subsequent period. This process will cause F3845 to have a net position, because the 

proceeds transferred in to the clearing account is generally not used or returned to the GFR account within the same accounting period. 

Having a net position in a budget clearing account, F3845, is an exception, and should not be normal practice for most clearing 

accounts.
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 2 of 26 IRC Handout April 23, 2020

Beginning Trial Balance

Collecting Entity

Account Description Debit Credit

Budgetary

None

Proprietary

175000 Equipment 1,200

175900 Accumulated Depreciation on Equipment 480

331000 Cumulative Results of Operations 720

Total 1,200 1,200
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 3 of 26 IRC Handout April 23, 2020

Year 2 – 1st Quarter

1. To record the sale of agency equipment for $300. (Assume this is not distributed receipts.) NOTE: Money is deposited to a 

clearing account, but in order to remove the PPE when it is sold, the Fund Balance With Treasury has to come into the 

collecting entity first (See Transaction #2 for the transfer of funds).

Collecting Entity Clearing Account

Description DR CR TC Description DR CR TC

Budgetary Entry

None

Proprietary Entry

101000 (G) Fund Balance With 

Treasury (RC 40)

175900 (N) Accumulated Depreciation 

on Equipment

 175000 (N) Equipment

 711000 (N) Gain on Disposition of 

 Assets – Other

 

300

300

500

100

C610

Budgetary Entry

None

Proprietary Entry

None

General Fund of the U.S. Government (099)

Budgetary Entry

None

Proprietary Entry

198000 (F) Asset for Agency’s 

Custodial and Non-Entity Liabilities –

General Fund of the U.S. Government

 201000 (F) Liability for Fund 

 Balance With Treasury (RC 40)

300

300

Budgetary Entry

None

Proprietary Entry

None
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 4 of 26 IRC Handout April 23, 2020

2. To record the transfer of the funds from the sale of equipment.

Collecting Entity Clearing Account

Description DR CR TC Description DR CR TC

Budgetary Entry

None

Proprietary Entry

577600 (F) Non-Budgetary Financing 

Sources Transferred Out (RC 18)

 101000 (G) Fund Balance With 

 Treasury (RC 40) 

300

300

E509

Budgetary Entry

None

Proprietary Entry

101000 (G) Fund Balance With 

Treasury

 577500 (F) Non-Budgetary 

 Financing Sources Transferred In 

 (RC 18)

300

300

C155

General Fund of the U.S. Government (099)

Budgetary Entry

None

Proprietary Entry

201000 (F) Liability for Fund Balance 

With Treasury (RC 40)

 198000 (F) Asset for Agency’s 

 Custodial and Non-Entity Liabilities

 General Fund of the U.S. 

 Government 

300

300

Budgetary Entry

None

Proprietary Entry

198000 (F) Asset for Agency’s 

Custodial and Non-Entity Liabilities 

– General Fund of the U.S. 

Government 

 201000 (F) Liability For Fund 

 Balance With Treasury (RC 40)

300

300
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 5 of 26 IRC Handout April 23, 2020

3. To record receipts returned to the Treasury GFR account. (It was determined that the replacement property will not be acquired and the receipt will 

be returned to the Treasury. This transaction would also apply to the agency that does not replace the property within the prescribed time limit. 

Clearing Account GFR Account

Description DR CR TC Description DR CR TC

Budgetary Entry

None

Proprietary Entry

577600 (F) Non-Budgetary Financing Sources 

Transferred Out (RC 18)

 101000 (G) Fund Balance With Treasury

 (RC 40)

300

300

E509

Budgetary Entry

None

Proprietary Entry

101000 (G) Fund Balance With Treasury

 577500 (F) Non-Budgetary 

 Financing Sources Transferred In 

 (RC 18)

599300 (G) Offset to Non-Entity Collections 

– Statement of Changes in Net Position

 (RC 44)

 298500 (G) Liability for Non- Entity 

 Assets Not Reported on the Statement of 

 Custodial Activity (RC 46) 

300

300

300

300

C155

C147

General Fund of the U.S. Government (099)

Budgetary Entry

None

Proprietary Entry

201000 (F) Liability For Fund Balance With 

Treasury (RC 40)

 198000 (F) Asset for Agency’s 

 Custodial and Non-Entity Liabilities 

 General Fund of the U.S. Government 

300

300

Budgetary Entry

None

Proprietary Entry

198000 (F) Asset for Agency’s Custodial 

and Non-Entity Liabilities General Fund of 

the U.S. Government

 201000 (F) Liability For Fund

 Balance With Treasury (RC 40)

198000 (F) Asset for Agency’s Custodial 

and Non-Entity Liabilities – General Fund of 

the U.S. Government (RC 46)

 571000 (F) Transfer in of Agency

 Unavailable and Custodial Non-

 Entity Collections (RC 44)

300

300

300

300
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 6 of 26 IRC Handout April 23, 2020

Preclosing Trial Balance

Account Description Collecting Entity Clearing Account GFR Account

DR CR DR CR DR CR

Budgetary

None

Proprietary

101000 (G) Fund Balance With Treasury 300

175000 (N) Equipment 700

175900 (N) Accumulated Depreciation on 

Equipment 180

298500 (G) Liability for Non-Entity Assets Not 

Reported on the Statement of 

Custodial Activity 300

331000 Cumulative Results of Operations 720

577500 (F) Non-Budgetary Financing Sources 

Transferred In 300 300

577600 (F) Non-Budgetary Financing Sources 

Transferred Out 300 300

599300 (G) Offset to Non-Entity Collections –

Statement of Changes in Net 

Position 300

711000 (N) Gains on Disposition of Assets -

Other 100

Total 1,000 1,000 300 300 600 600
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 7 of 26 IRC Handout April 23, 2020

Financial Statements:

CONSOLIDATED BALANCE SHEET AS OF 1ST QUARTER, DECEMBER 31, YEAR 2

Line 

No.

Assets (Note 2)

Intragovernmental

1. Fund Balance With Treasury (101000E) 300

6. Total intragovernmental 300

13. General property, plant, and equipment, net (Note 10) (175000E, 175900E) 520

15. Total assets 820

Liabilities (Note 13)

Intragovernmental

19. Other (Notes 15, 16, and 17) (298500E) 300

28. Total Liabilities 300

Net Position

33. Cumulative results of operations – All Other Funds (Combined or Consolidated Totals) (331000B, 577500E, 577600E, 

599300E, 711000E, 721000E)

520

35. Total Net Position – All Other Funds 520

36. Total Net Position 520

37. Total liabilities and net position 820
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 8 of 26 IRC Handout April 23, 2020

CONSOLIDATED STATEMENT OF NET COST FOR THE 1ST QUARTER ENDED DECEMBER 31, YEAR 2

Line 

No.

Gross Program Costs (Note 22):

Program A:

1. Gross Costs -

2. Less: earned revenue (711000E) 100

3. Net program costs: (100)

5. Net program costs including Assumption Changes: (100)

8. Net cost of operations (100)
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 9 of 26 IRC Handout April 23, 2020

Year 2 – 4th Quarter

1. To record the sale of agency equipment. (Assume this is not distributed receipts.) NOTE: Money is deposited to a clearing 

account, but in order to remove the PPE when it is sold, the Fund Balance With Treasury has to come to the collecting entity

first (See Transaction #2 for the transfer of funds).

Collecting Entity Clearing Account

Description DR CR TC Description DR CR TC

Budgetary Entry

None

Proprietary Entry

101000 (G) Fund Balance With 

Treasury (RC 40)

175900 (N) Accumulated Depreciation 

on Equipment

721000 (N) Loss on Disposition of 

Assets - Other

 175000 (N) Equipment 

 

400

180

120

700

C610

Budgetary Entry

None

Proprietary Entry

None

General Fund of the U.S. Government (099)

Budgetary Entry

None

Proprietary Entry

198000 (F) Asset for Agency’s 

Custodial and Non-Entity Liabilities –

General Fund of the U.S. Government

 201000 (F) Liability for Fund 

 Balance With Treasury (RC 40)

400

400

Budgetary Entry

None

Proprietary Entry

None
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 10 of 26 IRC Handout April 23, 2020

2. To record the sale of agency equipment. 

Collecting Entity Clearing Account

Description DR CR TC Description DR CR TC

Budgetary Entry

None

Proprietary Entry

577600 (F) Non-Budgetary Financing 

Sources Transferred Out (RC 18)

 101000 (G) Fund Balance With 

 Treasury 

400

400

E509

Budgetary Entry

None

Proprietary Entry

101000 (G) Fund Balance With 

Treasury

 577500 (F) Non-Budgetary 

 Financing Sources Transferred In 

 (RC 18)

400

400

C155

General Fund of the U.S. Government (099)

Budgetary Entry

None

Proprietary Entry

201000 (F) Liability for Fund Balance 

With Treasury (RC 40)

 198000 (F) Asset for Agency’s 

 Custodial and Non-Entity Liabilities 

 General Fund of the U.S. 

 Government 

400

400

Budgetary Entry

None

Proprietary Entry

198000 (F) Asset for Agency’s 

Custodial and Non-Entity Liabilities 

– General Fund of the U.S. 

Government 

 201000 (F) Liability For Fund 

 Balance With Treasury (RC 40)

400

400
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 11 of 26 IRC Handout April 23, 2020

3. To record receipts returned to the Treasury GFR account. (It was determined that the replacement property will not be acquired and the receipt will be 

returned to the Treasury. This transaction would also apply to the agency that does not replace the property within the prescribed time limit.)

Clearing Account GFR Account

Description DR CR TC Description DR CR TC

Budgetary Entry

None

Proprietary Entry

577600 (F) Non-Budgetary Financing 

Sources Transferred Out (RC 18)

 101000 (G) Fund Balance With 

 Treasury (RC 40)

400

400

E509

Budgetary Entry

None

Proprietary Entry

101000 (G) Fund Balance With 

Treasury

 577500 (F) Non-Budgetary 

 Financing Sources Transferred In 

 (RC 18)

599300 (G) Offset to Non-Entity 

Collections – Statement of Changes in 

Net Position (RC 44)

 298500 (G) Liability for Non-

 Entity Assets Not Reported on the

 Statement of Custodial Activity

 (RC 46)

400

400

400

400

C155

C147

General Fund of the U.S. Government (099)

Budgetary Entry

None

Proprietary Entry

201000 (F) Liability for Fund Balance 

With Treasury (RC 40)

 198000 (F) Asset for Agency’s 

 Custodial and Non-Entity Liabilities

 General Fund of the U.S. Government 

400

400

Budgetary Entry

None

Proprietary Entry

198000 (F) Asset for Agency’s 

Custodial and Non-Entity Liabilities 

General Fund of the U.S. Government

 201000 (F) Liability for Fund 

 Balance With Treasury (RC 40)

198000 (F) Asset for Agency’s 

Custodial and Non-Entity Liabilities –

General Fund of the U.S. Government 

(RC 46)

 571000 (F) Transfer in of Agency

 Unavailable and Custodial Non-

 Entity Collections (RC 44)

400

400

400

400
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 12 of 26 IRC Handout April 23, 2020

Year 2 Preclosing Trial Balance

Account Description Collecting Entity Clearing Account GFR Account

DR CR DR CR DR CR

Budgetary

None

Proprietary

101000 (G) Fund Balance With Treasury 700

298500 (G) Liability for Non-Entity Assets 

Not Reported on the Statement of 

Custodial Activity

700

331000 Cumulative Results of Operations 720

577500 (F) Non-Budgetary Financing Sources 

Transferred In

700 700

577600 (F) Non-Budgetary Financing Sources 

Transferred Out

700 700

599300 (G) Offset to Non-Entity Collections –

Statement of Changes in Net 

Position

700

711000 (N) Gains on Disposition of Assets -

Other

100

721000 (N) Losses on Disposition of Assets -

Other

120

Total 820 820 700 700 1,400 1,400
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 13 of 26 IRC Handout April 23, 2020

Year 2 – Preclosing Adjusting Entry

1. To record the closing of Fund Balance With Treasury collected in a General Fund receipt account at the year end. 

Collecting Entity Debit Credit TC GFR Account Debit Credit TC

Budgetary Entry

None

Proprietary Entry

None 

Budgetary Entry

None

 

Proprietary Entry 

298500 (G) Liability for Non-Entity 

Assets Not Reported on the Statement 

of Custodial Activity (RC 46)

 101000 (G) Fund Balance With 

 Treasury (RC 40) 

700

700

F124

General Fund of the U.S. Government (099)

Budgetary Entry

None

 

Proprietary Entry 

201000 (F) Liability for Fund Balance 

With Treasury (RC 40)

 198000 (F) Asset for Agency’s 

 Custodial and Non-Entity Liabilities 

 General Fund of the U.S. 

 Government (RC 46)

700

700
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 14 of 26 IRC Handout April 23, 2020

Year 2 Preclosing Adjusted Trial Balance

Account Description Collecting Entity Clearing Account GFR Account

DR CR DR CR DR CR

Budgetary

None

Proprietary

331000 Cumulative Results of Operations 720

577500 (F) Non-Budgetary Financing Sources 

Transferred In 700 700

577600 (F) Non-Budgetary Financing Sources 

Transferred Out 700 700

599300 (G) Offset to Non-Entity Collections –

Statement of Changes in Net 

Position 700

711000 (N) Gains on Disposition of Assets -

Other 100

721000 (N) Losses on Disposition of Assets -

Other 120

Total 820 820 700 700 700 700
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 15 of 26 IRC Handout April 23, 2020

Financial Statements

CONSOLIDATED BALANCE SHEET AS OF SEPTEMBER 30, YEAR 2

Line 

No.

Assets (Note 2)

Intragovernmental

1. Fund Balance With Treasury (101000E) -

6. Total intragovernmental -

13. General property, plant, and equipment, net (Note 10) ) (175000E, 175900E) -

15. Total assets -

Liabilities (Note 13)

Intragovernmental

19. Other (Notes 15, 16, and 17) (298500E) -

28. Total Liabilities -

Net Position

33. Cumulative results of operations – All Other Funds (Combined or Consolidated Totals) (331000B, 577500E, 577600E, 

599300E, 711000E, 721000E)

-

35. Total Net Position – All Other Funds -

36. Total Net Position -

37. Total liabilities and net position -
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 16 of 26 IRC Handout April 23, 2020

CONSOLIDATED STATEMENT OF NET COST FOR THE YEAR ENDED SEPTEMBER 30, YEAR 2

Line 

No.

Gross Program Costs (Note 22):

Program A:

1. Gross Costs (721000E) 120

2. Less: earned revenue (711000E) 100

3. Net program costs: 20

5. Net program costs including Assumption Changes: 20

8. Net cost of operations 20
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 17 of 26 IRC Handout April 23, 2020

CONSOLIDATED STATEMENT OF CHANGES IN NET POSITION FOR THE YEAR ENDED SEPTEMBER 30, 

YEAR 2

Line 

No.

All 

Other 

Funds

Consolidated

Cumulative Results from Operations:

10. Beginning Balances (310000B) 720 720

12. Beginning balances, as adjusted 720 720

Budgetary Financing Sources:

15. Nonexchange revenue - -

Other Financing Sources (Nonexchange):

20. Transfers-in/out without reimbursement (+/-) (577500E, 577600E) - -

22. Other (+/-) (599300E) (700) (700)

23. Total Financing Sources (700) (700)

24. Net Cost of Operations (+/-) 20 20

25. Net Change (720) (720)

26. Cumulative Results of Operations - -

27. Net Position - -
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 18 of 26 IRC Handout April 23, 2020

CONSOLIDATED STATEMENT OF CUSTODIAL ACTIVITY FOR THE YEAR ENDED SEPTEMBER 30, YEAR 2

Line 

No.

Revenue Activity:

Sources of Cash Collections:

7. Miscellaneous -

8. Total Cash Collections -

10. Total Custodial Revenue -

14. Retained by Reporting Entity -

15. Total Disposition of Collections -

16. Net Custodial Activity -

STATEMENT OF BUDGETARY RESOURCES FOR THE YEAR ENDED SEPTEMBER 30, YEAR 2

For Program Fund

Line 

No.

Budgetary resources:

1051 Unobligated balance from prior year budget authority, net (discretionary and mandatory) -

1890 Spending authority from offsetting collections (discretionary and mandatory) -

1910 Total budgetary resources -

Memorandum (non-add) entries:

1980 Net adjustments to unobligated balance brought forward, Oct 1 (Note 26) -

Status of budgetary resources:

2413 Expired unobligated balance, end of year -

2490 Unobligated balance, end of year (total) -

2500 Total budgetary resources -

Outlays, net:

4190 Outlays, net (total) (discretionary and mandatory) -
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 19 of 26 IRC Handout April 23, 2020

SF 133 AND SCHEDULE P: REPORT ON BUDGET EXECUTION AND BUDGETARY RESOURCES AND BUDGET 

PROGRAM AND FINANCING SCHEDULE FOR THE YEAR ENDED SEPTEMBER 30, YEAR 2

Line No. SF 133 Schedule P

BUDGETARY RESOURCES

Unobligated balance:

1000 Unobligated balance brought forward, Oct 1 - -

1050 Unobligated balance (total) - -

1060 Expired unobligated balance brought forward, Oct 1 - -

1099 Expired unobligated balance (total) - -

Budget authority:

Status of budgetary resources:

Spending authority from offsetting collections:

Discretionary:

1701 Change in uncollected payments, Federal sources (+ or-) - -

1750 Spending authority from offsetting collections, discretionary (total) - -

1900 Budget authority (total) - -

1910 Total budgetary resources - -

1930 Total budgetary resources available - -

STATUS OF BUDGETARY RESOURCES

New obligations and upward adjustments:

Reimbursable:

2190 New obligations and upward adjustments (total) - -

Unobligated balance:

Apportioned, unexpired accounts:

2413 Expired unobligated balance: end of year - -

2490 Unobligated balance, end of year (total) - -

2500 Total budgetary resources - -
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 20 of 26 IRC Handout April 23, 2020

SF 133 AND SCHEDULE P: REPORT ON BUDGET EXECUTION AND BUDGETARY RESOURCES AND BUDGET 

PROGRAM AND FINANCING SCHEDULE AS OF SEPTEMBER 30, YEAR 2

Line No. SF 133 Schedule P

Memorandum (non-add) entries:

2501 Subject to apportionment – excluding anticipated amounts - -

CHANGE IN OBLIGATED BALANCE

Unpaid obligations:

3060 Uncollected pymts, Fed sources, brought forward, Oct 1 (-) - -

3061 Adjustments to uncollected pymts, Fed sources, brought forward, Oct 1 (+ or -) - -

Memorandum (non-add) entries:

3100 Obligated balance, start of year (+ or -) - -

3200 Obligated balance, end of year (+ or -) - -

BUDGET AUTHORITY AND OUTLAYS, NET

Discretionary:

Gross budget authority and outlays:

4000 Budget authority, gross - -

Outlays, gross

4020 Outlays, gross (total) - -

4051 Change in uncollected pymts, Fed sources, expired accounts (+ or -) - -

4060 Additional offsets against budget authority only (total) - -

4070 Budget authority, net (discretionary) - -

4080 Outlays, net (discretionary) - -

Budget authority and outlays, net (total)

4141 Change in uncollected pymts, Fed sources, expired account (+ or -) - -

4150 Additional offsets against budget authority only (total) - -

4180 Budget authority, net (total) - -

4190 Outlays, net (total) - -
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 21 of 26 IRC Handout April 23, 2020

Reclassified Statements:

RECLASSIFIED BALANCE SHEET AS OF SEPTEMBER 30, YEAR 2

Line 

No.

GFR 

Account

3 Federal

3.3 Accounts receivable (RC 22)/1 -

3.14 Total federal assets -

4. Total assets -

Liabilities 

7. Federal

7.11 Liability to agency Other Than the General Fund of the U.S. Government for custodial and other non-entity assets (RC -

7.15 Total federal liabilities -

8 Total liabilities -

9 Net Position

9.2 Net Position – funds other than those from dedicated collections (331000B, 590000E, 599400E) -

10 Total net position -

11. Total liabilities and net position -
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 22 of 26 IRC Handout April 23, 2020

RECLASSIFIED STATEMENT OF NET COST FOR THE YEAR ENDED SEPTEMBER 30, YEAR 2

Line 

Gross cost

2. Non-federal gross cost (721000N) 120

6. Total non-federal gross cost 120

9. Department total gross cost 120

10. Earned Revenue

11 Non-federal earned revenue (711000E) 100

14. Department total earned revenue 100

15. Net cost of operations 20

RECLASSIFIED STATEMENT OF OPERATIONS AND CHANGES IN NET POSITION FOR THE YEAR ENDED 

SEPTEMBER 30, YEAR 2

Line 

No.

All

Other 

Funds

Consolidated

1 Net position, beginning of period (331000B) 720 720

4 Net position, beginning of period - adjusted 720 720

Federal non-exchange revenue:

6.7 Accrual of Collections Yet to be Transferred to a TAS Other Than the General Fund of the U.S. 

 

(700) (700)

6.9 Total federal non-exchange revenue (700) (700)

9 Net cost of operations (+/-) (20) (20)

10 Net position, end of period - -
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 23 of 26 IRC Handout April 23, 2020

Closing Entries

1. To record the closing of revenue, expense, and other financing source accounts to cumulative results of operations.

Collecting Entity Debit Credit TC GFR Account Debit Credit TC

Budgetary Entry

None

Proprietary Entry

331000 Cumulative Results of Operation

 577600 (F) Non-Budgetary Financing

 Transferred Out (RC 18)

700

700

F336

Budgetary Entry

None

Proprietary Entry

331000 Cumulative Results of Operations

 599300 (G) Offset to Non-Entity 

 Collections Statement of Changes in Net 

 Position (RC 44)

577500 (F) Non-Budgetary Financing 

Sources Transferred In (RC 18)

 331000 Cumulative Results of Operations

700

700

700

700

F336

General Fund of the U.S. Government (099)

Budgetary Entry

None

Proprietary Entry

None

Budgetary Entry

None

Proprietary Entry

571000 (F) Transfer in of Agency 

Unavailable Custodial and Non-Entity 

Collections (RC 44)

 331000 Cumulative Results of Operations

700

700
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 24 of 26 IRC Handout April 23, 2020

2. To record the closing of revenue, expense, and other financing source accounts to cumulative results of operations.

Collecting Entity Debit Credit TC GFR Account Debit Credit

Budgetary Entry

None

Proprietary Entry

577500 (F) Non-Budgetary Financing 

Sources Transferred In

 331000 Cumulative Results of Operations

331000 Cumulative Results of Operations

 577600 (F) Non-Budgetary Financing

 Sources Transferred Out

700

700

700

700

F336

Budgetary Entry

None

Proprietary Entry

None

General Fund of the U.S. Government (099)

Budgetary Entry

None

Proprietary Entry

None

Budgetary Entry

None

Proprietary Entry

None
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 25 of 26 IRC Handout April 23, 2020

3. To record the closing of gains into cumulative results of operations.

Collecting Entity Debit Credit TC GFR Account Debit Credit

Budgetary Entry

None

Proprietary Entry

711000 (N) Gain on Disposition of Assets -

Other

 331000 Cumulative Results of Operations

100

100

F338

Budgetary Entry

None

Proprietary Entry

None

General Fund of the U.S. Government (099)

Budgetary Entry

None

Proprietary Entry

None

Budgetary Entry

None

Proprietary Entry

None
GENERAL FUND RECEIPT (GFR) ACCOUNT GUIDE

Effective Fiscal 2020

 Page 26 of 26 IRC Handout April 23, 2020

4. To record the closing of gains into cumulative results of operations.

Collecting Entity Debit Credit TC GFR Account

Budgetary Entry

None

Proprietary Entry

331000 Cumulative Results of Operations

 721000 (N) Losses on Disposition of 

 Assets – Other 

120

120

F340

Budgetary Entry

None

Proprietary Entry

None

General Fund of the U.S. Government (099)

Budgetary Entry

None

Proprietary Entry

None

Budgetary Entry

None

Proprietary Entry

None

Post-Closing Trial Balance

Account Description Debit Credit

Budgetary - -

None - -

- -

Proprietary - -

None - -

Total - -

Note: All accounts should be zero in Post-Closing Trial Balance.