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Using Due To/Due From Accounts to Process Entries to Weill Cornell Medicine
Ithaca and Weill Cornell Medicine (WCM) use two separate financial systems: Ithaca uses KFS; WCM uses SAP. Because the general ledger systems differ, neither campus can post transactions directly to the others’ accounts. Instead, each campus must manually record interdepartmental activity in each other’s systems using the “due to/due from” (DTF) accounts. The DTF accounts are treated as a liability or receivable between the two campuses. Transactions are reconciled monthly.
Ithaca units should never send funds to WCM using a disbursement voucher (DV). Generally, Ithaca should never accept a check from WCM to pay for goods or services; however, if on a rare occasion that occurs, please deposit the check instead of requesting that it be voided.
Attach the appropriate documentation to the KFS e-doc, so that WCM understands what the transactions are and how to record the appropriate offsetting entry in the WCM general ledger.
Avoid using transfer object codes when posting transactions to the DTF accounts (unless otherwise instructed as in the Intercampus collaboration (Sponsored MOU) example below).
Avoid using object code 2320 in accounts C791014, C791022, and C791025.
Direct questions to Deb Comstock (drc268) or Gena Rapisardi (gmr66) or Accounting.
DTF Accounts for Colleges
C791014 – WCM DTF Interdepartmental Transactions
- Use this account for WCM interdepartmental activity between the two campuses. For example, it may be revenue to an Ithaca Campus unit and a WCM expense. Upon consolidation of the Ithaca and WCM financial statements, the activity nets to zero.
- Attach appropriate documentation to the e-doc to ensure that WCM understands the transaction.
- Do not use the WCM DTF object code 2320.
- Avoid using transfer object codes.
- We recommend using the KFS Internal Billing (IB) e-doc, using interdepartmental object codes (sub type = ID). Departments can use any interdepartmental object code or the WCM object codes listed below.
- 4990 Interdept Revenue – WCM
- 6990 Interdept Expense – WCM
Interdepartmental example
Ithaca campus issues to WCM an invoice for services provided for $5,000. This is interdepartmental revenue to the Ithaca campus and interdepartmental expense to WCM:
- DR C791014 or C791025 -6990 $5,000
- CR Ithaca account-4990 $5,000
Intercampus collaboration (Sponsored MOU) example
Collaborative projects between researchers on the Ithaca and WCM campuses are set up as “intercampus awards.” Since the campuses maintain separate sponsored programs, compliance, and finance systems, as well as different federally approved rates, some administrative processes are necessary to ensure that each campus is able to administer the projects in compliance with those requirements. In all other respects, an intercampus award is similar to an award that involves collaborators from the same campus but is from different units or departments. For additional information, please reference Administrative Procedures for Intercampus Collaboration.
WCM invoices Ithaca campus – for services provided by WCM in NYC:
- DR sponsored account – 8050
- CR C791014 or C791025 - 7000
Ithaca invoices WCM campus (entries are processed by Sponsored Financial Services (SFS)):
- DR C791014 or C791025 - 8000
- CR Sponsored account – 7050
C791022 – WCM DTF Non-interdepartmental transactions
- Use this account for WCM non-interdepartmental activity between Ithaca/ Cornell Tech and WCM. This is true revenue or expense to Ithaca or WCM. Examples of non-interdepartmental transactions include insurance, workers’ compensation, recruitment expenses, bursar feeds, student loans, royalty income, and separately invested investment income.
- Attach appropriate documentation to the e-doc to ensure the WCM understands the transaction.
- Do not use the interdepartmental object codes or object code 2320.
- Avoid using transfer object codes.
- We recommend using the KFS Distribution of Income and Expense (DI) e-doc.
- Use the KFS object code that best defines how the activity should be recorded by WCM.
- Use the same object code for both sides of the entry.
Non-indepartmental example
Ithaca paid an expense posted to OC 6190 Fees & Licenses. A portion of the expense belongs to WCM:
- DR: C791022-6190 (WCM will record this expense on WCM general ledger)
- CR: Dept. acct-6190 (reduce expense on Ithaca department general ledger)
C791025 – Qatar DTF
- Use for Qatar interdepartmental and non-interdepartmental activity.
- Attach appropriate documentation to the e-doc to ensure that WCM understands the Qatar transaction.
- Do not use the WCM DTF object code 2320.
- Avoid using transfer object codes.
Inter-departmental example
We recommend using the KFS Internal Billing (IB) e-doc, using inter-departmental object codes (sub type = ID). Departments can use any inter-departmental object codes or the WCM object codes listed below.
- 4990 Interdept Revenue – WCM
- 6990 Interdept Expense – WCM
Non-indepartmental example
Ithaca paid an expense posted to OC 6190 Fees & Licenses. A portion of the expense belongs to Qatar:
- DR: C791025-6190 (WCM will record the Qatar expense on WCM general ledger)
- CR: Dept. acct-6190 (reduce expense on Ithaca department general ledger)
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DTF Accounts for Central Offices
The WCM DTF accounts listed below are used only by central offices for specific activity.
C791010 – DTF Bond 2010
- Used to record WCM Bond 2010 debt entries that include bond premium and issuance costs.
- On a monthly basis, the premium and the issuance costs are amortized and recorded in this account by Ithaca Accounting. WCM is responsible for funding the interest payments and DASNY and trustee fees, and for wiring cash twice per year so that Ithaca can pay these obligations.
C791011 & C791012 - DTF Internal Loan Principal and Interest
- This account represents the internal loans between Ithaca and WCM. The loans are based on the university’s capital plan, and the EVP and CFO and the University Treasurer review the loan terms.
- Based on the debt service schedules, Accounting monthly processes principal and interest payments through these two accounts. WCM maintains corresponding internal loan payable accounts and records these internal debt service payments in SAP.
C791015 – DTF WCM Gifts/Department Funds to be Invested in LTIP or Separately Invested
- Gifts received at WCM for investment in the Long-Term Investment Pool (LTIP) or separately invested are posted to this account. Investment deposits or withdrawals of WCM unrestricted department funds are also posted to this account. Entries are processed monthly, typically by WCM authorized staff who have access to KFS.
C791016 – DTF Payout
- LTIP payout to WCM operating funds accounts are processed monthly by Accounting to this account.
C791017 – DTF Gifts via Ithaca
- Ithaca receives non-invested, current-use gifts or pledge payments in support of WCM operations. These gifts are processed in Ithaca through the contributor relations system (PeopleSoft) and recorded daily in this account.
C791018 – Wire Transfers
- This account is used to record and track monthly working capital drawdowns that are requested by WCM and wired from Ithaca to WCM.
C791019 – DTF DHHS Drawdowns (Letter of Credit)
- The WCM Grant Accounting staff notifies the Treasurer’s office when letter-of-credit draws are requested from federal agencies. The Treasurer’s office records the receipt in this account when a wire is received in the depository account in Ithaca.
C791021 – DTF Dept. of Ed. Drawdowns
- The WCM Financial Aid Office notifies the Treasurer’s office when draws are requested from the Department of Education. The Treasurer’s office records the receipt in this account when a wire is received in the depository account in Ithaca.
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