FACTS II 

FACTS II is the acronym for Federal Agencies‘ Centralized Trial Balance System II. Federal government agencies are required to use this system to submit quarterly their U.S. Standard General Ledger (SGL) budgetary account trial balances and selected proprietary account balances to Treasury.

FACTS II subjects the balances to a series of edits that have been replicated in the SAP environment. The edits test for proper account attributes and relationships.

FACTS II processing consists of the following:

·        Extract data from the ledger or run the extract.

·        Upload the Master Accounts File (MAF) from Treasury and maintain it.

·        Run the edits. If there are any errors, post adjusting transactions.

·        Maintain footnotes where required.

·        Send data (consisting of the edited data and footnotes) to Treasury.

·        Reporting

 

The order in which you run the above depends on your specific requirements. The graphic below shows how the process could look.

 

Overview of FACTS II Process in the SAP System

For an illustration of how the FACTS II process could work in a specific case, see FACTS II Processing.

FACTS II Preparation describes what you must do before you can process FACTS II data.

 

See also:

FACTS I