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Internal Sales

FTAR Instructions for Internal Sales of Goods or Services

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PURPOSE

Debits and credits to Internal Sales/Expense accounts must always net to zero, so they can be eliminated from the audited financial statements. Internal Sales/Expense accounts may not be used with Agency (9xxxx) funds, as these funds represent outside agencies.

DEBIT

Enter the departments that will be charged for the service.  Attach scans / emails or other authorizing documents electronically with Journal submission.

Internal Expense Accounts:

Account 7494: Sales Expense-Internal

Account 7495: Rental Expense-Internal

Account 7496: Miscellaneous Expense-Internal

CREDIT

Enter the departments that will be credited for providing the service.

Internal Income Accounts:

Account 5894: Sales Income-Internal

Account 5895: Rental Income-Internal

Account 5896: Miscellaneous Income-Internal