What’s New with the USSGL
The Treasury Department released their annual update to the U.S. Standard General Ledger (USSGL) last Tuesday. While most changes are fairly minor, it is interesting to see how the USSGL guidance is changing to support Governmentwide Treasury Account Symbol Adjusted Trial Balance System (GTAS).
Beyond the six-digit general ledger account codes that were recently updated, the USSGL now includes an additional section for GTAS validations and edits. The validations ensure the integrity of the USSGL data, while the edits ensure data is consistent with external data sources (e.g., the Federal Financing Bank [FFB]).
Unfortunately, another big change with this update is that there is no longer a web-enabled search feature, which is particularly frustrating when referencing Section VII: GTAS Validations and Edits. Thankfully, Treasury has acknowledged that Section VII, while detailed and comprehensive, is somewhat difficult to navigate. Treasury indicates that a web-enabled search feature for the new USSGL is forthcoming.
In the interim, if you are looking for validation or edit information, it is best to use the summary reports that provide an overview. You can also use the “find” function within the PDF version of the USSGL as Treasury describes.
But here’s something cool to note – while it is certainly difficult to find the search window for the FY 2013 USSGL, it is still on Treasury’s site! Should you need to reference the FY 2013 USSGL, save yourself some time and click here. All sections of the FY 2014 USSGL are also accessible from this link.
For agencies submitting trial balance data using GTAS, how have the data validations and edits affected your close process?
To view the June 2014 release of the USSGL, visit Treasury’s Bureau of the Fiscal Service website. And to keep getting my updates on the USSGL and other pertinent accounting topics, be sure to subscribe to the blog.
We’ve just released new training class dates for our courses U.S. Standard General Ledger: Practical Applications and Preparing Federal Financial Statements Using the U.S. Standard General Ledger.
