Final answer:
The crediting account in the General Fund for payments from an enterprise fund in lieu of taxes is generally titled Payments-In-Lieu-of-Taxes or a similar revenue account.
Step-by-step explanation:
When an enterprise fund pays the General Fund an amount in lieu of taxes, the account to be credited in the General Fund is typically titled Payments-In-Lieu-of-Taxes (PILOT) or something similar indicating it is revenue from the enterprise fund.
This practice recognizes that the enterprise fund is operating in a manner similar to a private business and, although not subject to property taxes, compensates the General Fund for services provided or for municipal revenue that is otherwise lost.
The transaction acknowledges the internal financial activities between different parts of the government, as enterprise funds are separate from general governmental funds but still part of the same entity. The General Fund recognizes this payment as revenue, which is critical to planning whether the budget will result in a surplus or a deficit for the fiscal year.