ctcLink Accounting Manual | 10.30.60 Subsidiary
10.30.60 Subsidiary
2022-01-31
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:
- 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 |
- 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 |
- 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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