Handbook of Business Procedures
5.5.2. PAYMENT AND DISTRIBUTION OF TEXAS SALES TAX
Accounting and Financial Management generates a nightly entry in *DEFINE to sweep sales tax deposits from departmental accounts to a central clearing account. The balance in the clearing account is then remitted to the Texas Comptroller of Public Accounts twice per week.
When a department deposits sales tax, the amount deposited can be viewed in the *DEFINE command GO1 for object code 6032. When the nightly entry is posted to *DEFINE to sweep the sales tax from the departmental account to the central clearing account, the amount transferred can be viewed in the *DEFINE command GO1 for object code 6040 as an offset to 6032. The two object codes should net to zero. Example:
6032 $100 (amount deposited) 6040 <$100> (amount debited)