Codes
| Out | In | For |
|---|---|---|
| 7996 | 3996 | Temporary Holding Account Inactive |
Purpose
To record the transfer of funds held temporarily awaiting transmittal to financial institutions (code 3996) and to record the transmittal of the funds of financial institutions (code 7996).
Note
Adjustments for deposits will be made by reversing the original entry using 3996. Any adjustments to amounts erroneously issued under object 7996 must be returned to original source fund using refund of original expenditure object or to the Correction Account for Direct Deposit (0980) using revenue code 3790.
Funds credited into Direct Deposit Hold-Transmit Account -- Payrolls (0979) will be made by computer program each day concurrent with voucher processing using transfer object 3996. When funds are transmitted to financial institutions, a warrant will be issued for each agency having a balance in Fund 0979 using object 7996. A computer tape transmittal listing will accompany the warrant and will give detail listing of payee information.
Temporary suspense of direct deposit payments no longer needed. USAS pays direct from designated fund or account. As a result, this transfer is no longer used. Inactivated November 2021.