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receipt  accounts  established  by  the  Treasury Department  for  collection  of  miscellaneous  receipts. Expenditure Category Codes for Disbursements The three-digit expenditure category code for a disbursement  provides  the  means  of  recording, identifying, and assigning the dollar amounts paid by the voucher to the Department of the Navy’s BOP report submitted to the Office of the Secretary of Defense. The expenditure  category  code  must  be  recorded  in  the Object  Class  block  of  the  appropriation  cost  code. Collection  Source  Codes The  application  of  a  two-digit  collection  source code  on  a  collection  voucher  provides  the  means  of recording,  identifying,  and  assigning  the  dollar  amount collected  by  the  voucher  to  the  appropriate  line  of  the Department of the Navy’s BOP report. Each collection source  code  identifies  the  source  of  the  collection  that must be credited to a specific appropriation, fund, or receipt account. Collection  source  codes  must  be recorded in the Object Class block on the voucher. Now  that  you  have  read  about  the  important components  in  the  accounting  classification  codes  and how   they   are   used   in   appropriation   accounting procedures, let’s take a look at some important reasons you must monitor these codes for accuracy. IMPORTANCE  OF  ACCURATE ACCOUNTING DATA The   importance   of   ensuring   the   accuracy   of accounting data cannot be overemphasized. As you have already read in this chapter, accurate accounting for all monies is important for the management of the Navy’s financial resources and for use in future budget requests  and  their  justification. The  payment  of obligations and the collection of funds involve more than just preparing the check or taking the money and processing  the  related  paper  work.  To  the  extent possible,  disbursing  personnel  are  also  responsible  for ensuring the accounting classification code is correct. When  auditing  financial  documents,  you  must remember that there are nine elements that make up the complete accounting classification code. These nine elements must be shown on all financial documents before they are processed. Remember: It is from this framework  that  auditing  begins. Since each transaction can be different, you must determine  the  account  to  be  charged  or  credited.  You should also know the nature of the transaction and who is responsible for maintaining the account. By making certain these data items are correct, you will help the financial information processing center (FIPC) and fund  manager  to  compile  and  evaluate  the  applicable cost  data  properly. In  each  case,  the  accounting elements must contain the correct number of digits or characters. Whenever you are in doubt about the proper entry, consult Volume 2 of the NAVCOMPT  Manual. SUMMARY The use of accounting data is essential in the Navy. Only through the proper use of accounting data can the Navy effectively control and analyze the monies made available   by   Congress.   While   the   structure   of accounting data appears to be complex, it can be more easily  understood  if,  for  each  element  of  the  accounting classification code, you can determine its purpose and how it fits into the overall scheme of appropriation accounting. Accurate   accounting   data   and   the   timely submission of these data to the proper authorities are equally important to Navy financial managers. If you set your goals to be both timely and accurate and to respond  to  any  inquiries  promptly,  the  Navy’s  financial managers will be better able to do their jobs. 2-9

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