The accounts of Governmental Funds deal with assets, deferred credits, receipts, and expenditures in somewhat the same manner as is usual in commercial accounts, except that the balances of the accounts of various assets not available for appropriation are ignored in computations of surplus. These assets are offset by contra-accounts. The accounts of Proprietary and Fiduciary Funds are generally similar to the accounts of commercial enterprises of a similar nature. Each General Ledger account has been given a uniform account number. Agencies requiring accounts not included in the chart will request permission of the Fiscal Systems and Consulting Unit, Department of Finance, to use additional accounts and will maintain a file of such approvals.
Documents provide the basis for recording transactions.
Every transaction is recorded at the time of its occurrence based on a form or document which contains the essential facts of the transaction. Books of original entry consist of registers and the General Journal. Registers are special journals designed to provide separate chronological records of the different types of transactions. A register may include transactions of more than one fund provided such arrangement facilitates bookkeeping. The appropriate journal entry or entries required to summarize transactions recorded each month in each register will usually be written in the register in the space beneath the footings for that month or, if this is not possible, on the following page.