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ctcLink Accounting Manual | 10.30.60 Subsidiary

10.30.60 Subsidiary

2022-01-31

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The Subsidiary field (PeopleSoft field name = Chartfield 1) is a 6-digit field managed by the State Board.- However, each college has a unique set of values. This value is required by the State of Washington accounting rules.

The Subsidiary chartfield is used to identify when transactions have a corresponding transaction either within the college/district, with the college system or within the state. These transactions must balance within college/district, with the college system or within the state and therefore require a subsidiary field value. Examples:

  1. Within the college all inter-fund receivables and payables must balance, 1010170 (Due From Other Funds Intern Short-Term) and 2021040 (Due To Other Funds Internal Short-Term). The values begin the 3 characters of the fund and end with 3 zeros (i.e. Grants Fund = (145000’). The entry recorded in one fund should have the offsetting fund in the Subsidiary field.
Fund Account Subsidiary Dr Cr
145 1010170 524000 $ 100.00 -
145 1000199 524000 - $ 100.00
524 1000199 145000 $ 100.00 -
524 2020140 145000 - $ 100.00
  1. Within the college system all inter-colleges receivables and payables must balance, 1010180 (Due From Other State Agencies Short-Term) and 2021050 (Due to Other State Agencies Short-Term). The values begin the 6990 and the last 2 digits of the other college’s agency number (i.e. Peninsula College has a Due To or From Everett, Peninsula would record ‘699005’. Everett should then record a Due To or From Peninsula with Subsidiary value of ‘699065’. However, if the Due To/From the State Board, then the Subsidiary value would be ‘699000’).

Accrual

College Account Subsidiary Dr Cr
WA010 1010180 699005 $ 100.00 -
WA010 4020120 699005 - $ 100.00
WA050 5081395 699065 $ 100.00 -
WA050 2020150 699065 - $ 100.00

Receipt/Payment

College Account Subsidiary Dr Cr
WA020 1000070 699005 $ 100.00 -
WA020 1010180 699005 - $ 100.00
WA030 2020150 699065 $ 100.00 -
WA030 1000070 699065 - $ 100.00
  1. Within the state all inter-agency receivables and payables must balance, 1010180 (Due From Other State Agencies Short-Term) and 2021050 (Due To Other State Agencies Short-Term). The values begin the 4 digit agency number and the last 2 digits of the other college’s agency number (i.e. Clark College has a Due To or From the State Auditor’s Office, Clark would record ‘095035’. The Auditor’s Office should record a Due/To From Clark in AFRS.

Receipt/Payment

College Account Subsidiary Dr Cr
WA140 5050060 095035 $ 100.00 -
WA140 2021050 095035 - $ 100.00

Payment

College Account Subsidiary Dr Cr
WA140 2021050 095035 $ 100.00 -
WA140 1000070 095035 - $ 100.00

At the end of the fiscal year ALL Due To/From transactions by college must balance within the college, within the college system and within the state (in AFRS).

Follow this path “Navigator > Set Up Financials/Supply Chain > Common Definitions > Design ChartFields > Define Values > ChartField Values > Subsidiary” for a current list of subsidiary values for your college.

 


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Last Modified: 3/12/24, 4:03 PM

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