Revenue Source

The Revenue Source element is generally used by a state or local government entity to track the types of revenue received to meet the reporting requirements of both external parties and those mandated by management to fulfill internal accountability requirements.  A common example of how revenue sources can be used is that different series of revenue sources are often established to track the types of tax revenues versus federal grant revenues versus external party sales revenues.  The number of revenue source codes that need to be established can be identified by management to meet the needs of both the external parties and those mandated by management to fulfill internal accountability requirements.

The Sub Revenue Source chart of accounts data element can be used to further classify the financial activity within a given Revenue Source.  For example, using the information provided above, a client may want to further delineate the types of revenues associated with Revenue Source '1100' for personal income taxes.  Sub Revenue Sources could be established to track revenues that are considered as paid by full time resident taxpayers, part time resident taxpayers, and non-resident taxpayers.  Thus, a client could establish a Sub Revenue Source of '00' for full time resident taxpayers, '01' for part time resident taxpayers and '02' for non-resident taxpayers.

Sample Revenue Source Hierarchies

AMS Advantage Financial provides many levels of revenue information for reporting, budgeting, and controlling.  Sub Revenue is the lowest level and is delivered as optional.  Revenue Source is the first required level followed by several optional levels: Revenue Source Class, Revenue Source Category, Revenue Source Type, and Revenue Source Group at a higher level than Revenue.  In addition to these, revenue accounting also uses hierarchies to support CAFR reporting with the rollups of Major CAFR Revenue Type and Minor CAFR Revenue Type.

Specific Abilities for Revenue Sources

The following options apply to revenue source codes directly on the Revenue Source (RSRC) page:

• FASB Class Identification - for FASB clients, indicates whether the revenue source is unrestricted, temporarily restricted, or permanently restricted.  For GASB clients, this indicator is marked not applicable.

• FHWA Revenue Credit - identifies a revenue source as available to be used as a revenue credit on a charge document.  Please refer to the "Special Processing for FHWA Billable Projects" section in the AMS Advantage Financial - Cost Accounting User Guide for more information on revenue credits.

• Use Tax Collection - indicates whether use tax needs to be collected for a revenue source during the period from billing to receipt of cash.  

• Transferable - indicates a revenue source as being one that can be transferred as part of an operational transfer.  Such an activity is one of the internal accounting event types.  Event category ID's OT1 and OT2 require that a revenue source entered for the receiving party be one that is transferable.  

• Operating - specifies a revenue source as one for operating costs for reporting purposes.

• Eligible for Intercept Process - indicates a revenue source as one available to intercept a payment when that revenue source is entered on a Receivable (RE) accounting line for billed revenue.  The Intercept Request (INTR) page performs an edit when records are added with a revenue source code on them to this flag on the Revenue Source page.

• External Reporting Number - an optional field for recording information pertaining to a revenue source for reporting purposes.

• Finance Charge Fee 1 to 5 - allows the ability to define 1 to 5 finance charge fees to be used for a revenue source code when System Options and Billing Profile have allowed the override of finance charge fees.

• Apply Interest on Late Fee - indicates whether interest applies to late fees.

• Apply Interest on Administrative Fee - indicates whether interest applies to administrative fees.

• Apply Interest on NSF Fee - indicates whether interest applies to NSF fees.

• Apply Interest on Other Fee - indicates whether interest applies to other fees.

• Default Accounts and Codes - listed are each of the default accounts that can default from a fiscal year and revenue source if (1) the account has the override flag selected on the Revenue section of the Special Accounts (SPEC) page and (2) the Posting Code defaulting the account has Revenue Source as valid in one of the inference source fields.  Accounts are divided into two sections: Revenue Accounts and Applied Fee/WO Accounts.  All accounts are optional, and for a more detailed explanation of each, refer to the "Revenue Defaults" section in the AMS Advantage Financial - General Accounting User Guide.

Revenue Accounts:

• Billed Unearned Receivable Account and Sub Account

• Billed Earned Receivable Account and Sub Account

• Billed Unearned Revenue Liability Account and Sub Account

• Collected Unearned Revenue Liability Account and Sub Account

• Earned Receivable Account and Sub Account

• Billed Deposits Receivable Account and Sub Account

• Billed Deposits Account and Sub Account

• Collected Deposits Account and Sub Account

• Billed Vendor Refund Account and Sub Account

• Vendor Refund Expenditure Holding Account and Sub Account

• Reserved Overpayment Account and Sub Account

• Unreserved Overpayment Account and Sub Account

Applied Fee/Write Off Accounts:

• NSF Charge Revenue Source and Sub Revenue Source

• Interest Charge Revenue Source and Sub Revenue Source

• Late Fee Charge Revenue Source and Sub Revenue Source

• Credit Card Fee Revenue Source and Sub Revenue Source

• Credit Card Fee Object and Sub Object

• Allowance for Bad Debt Account and Sub Account

• Bad Debt Expense Object and Sub Object

• Unearned Receivable Write Off Account and Sub Account

• Unearned Revenue Write Off Account and Sub Account

• Deposit Receivable Write Off Account and Sub Account

• Billed Deposit Write Off Account and Sub Account

• Vendor Refund Receivable Write Off Account and Sub Account

• Vendor Refund Write Off Account and Sub Account

• Earned Receivable Sent to Collection Account and Sub Account

• Vendor Refund Receivable Sent to Collection Account and Sub Account

The following are other areas where revenue source codes are used to control with additional elements.

• Revenue Budget Fiscal Year Stage Definition

Items in "Advanced - Setup" Section

The following sections in the "Advanced - Setup" section at the end of this users guide contain the Revenue Source dimension.