[CAFR-Contacts-News] SFMA Client Agencies: Change to Processing Write-off Transactions

[HAMILTON Robert W * DAS]

Hello CAFR Contacts,

To clarify, while there is a reporting aspect related to this that begins FY 2019, any write-offs that occur beginning July 1, 2018 will be subject to this new policy, even if the write-off pertain to FY 2018 accounting entries.

Sorry for any confusion.

Rob

From: CAFR-Contacts-News [mailto:cafr-contacts-news-bounces at listsmart.osl.state.or.us] On Behalf Of HAMILTON Robert W * DAS
Sent: Thursday, July 05, 2018 2:03 PM
To: cafr-contacts-news at listsmart.osl.state.or.us
Subject: [CAFR-Contacts-News] FW: SFMA Client Agencies: Change to Processing Write-off Transactions

Hello CAFR Contacts,

Please see the email below regarding the use of the multi-purpose code field in SFMA when processing write-off transactions.  This is a new step and is effective with the start of FY 2019.

Thanks,

Rob

From: Accounts-receivable-news [mailto:accounts-receivable-news-bounces at listsmart.osl.state.or.us] On Behalf Of CHASE Stacey A * DAS
Sent: Thursday, July 05, 2018 1:59 PM
To: accounts-receivable-news at listsmart.osl.state.or.us<mailto:accounts-receivable-news at listsmart.osl.state.or.us>
Cc: FLORES Fabiola * DAS <Fabiola.FLORES at oregon.gov<mailto:Fabiola.FLORES at oregon.gov>>
Subject: [Accounts-receivable-news] SFMA Client Agencies: Change to Processing Write-off Transactions


Good afternoon.



As referenced in the Summer edition<https://www.oregon.gov/das/Financial/Acctng/Documents/SWARM%20Newsletter.Vol2-Iss3.pdf> of the SWARM newsletter, we wanted to highlight the following change associated with processing of write-off transactions:



Effective July 1, 2018, SFMA client agencies are required to enter a unique three digit code in the multi-purpose code (MPCD) field when processing write-off transactions in SFMA. The unique code, defined in OAM 35.50.10<https://www.oregon.gov/das/Financial/Acctng/Documents/35.50.10.pdf>, will identify which criteria for uncollectibility the agency used to write-off the debt.
SFMA client agencies that do not enter write-off transactions directly into SFMA will be asked to enter summary amounts by criteria code in SFMA at fiscal year-end to allow for consolidated reporting of annual write-off activity.



Please let me know if you have any questions. Thank you.

s

Stacey A. Chase
Statewide Accounts Receivable Management
Chief Financial Office
Department of Administrative Services
Phone: (503) 947-8567
www.oregon.gov/das/Financial/Acctng/Pages/AR.aspx<http://www.oregon.gov/das/Financial/Acctng/Pages/AR.aspx>

Data Classification: Level 1 - Published

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