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XII.5.G
Entering the Appropriate Obligation and Accounting Dates on Vouchers


SECTION OVERVIEW AND POLICIES

 

 

The Obligation Date recorded on a voucher is generally the date a liability is incurred (e.g., the date which the goods or services are received from the vendor) regardless of whether a corresponding invoice has been received.

 

The Accounting Date controls the accounting period and fiscal year in which the transaction will be recorded in the Modified Accrual Ledger and Commitment Control Ledger(s).

 

Process and Document Preparation:

 

Obligation Date

 

Business Units must enter the date the liability is incurred in the Obligation Date field of the voucher. Guidelines for determination of the Obligation Date for various types of payments are shown in the table below.



If the payment is for: Then the obligation date is the:
Merchandise (Non Contract) Date merchandise is received.
Services (Non Contract) Date services are completed.
Contract payments Payment dates specified in contract; if none specified, then date(s) goods are delivered or services are completed.
Prepaid Services (i.e. Rents, Subscriptions, Maintenance Contracts) Date the service begins. If period is not open, end date of current open period.
Inter-agency Vouchers Obligation date of the bill. Generally this is the Billing Date.

 


Accounting Date

 

See Chapter XIV, Section 2 – Obligation, Accounting and Budget Dates of this Guide for guidance on determination of Accounting Date.

 
 
Guide to Financial Operations
REV. 06/10/2014