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Accounting

Gift Restrictions

Restriction Classifications

Restriction classification is an accounting attribute. Only funds given by an outside entity (i.e., gifts or income from endowments) may be recorded in a restricted account. All other types of income are classified as unrestricted on the university's financial statements.

The attribute in the Kuali Financial System (KFS) that represents the restriction classification is the Account Restricted Status Code.

  • Read more about Gift Restrictions

Receiving Gifts

Recording Gift Revenue

Gifts are recorded by the following:

  • Alumni Affairs and Development (Advancement Services)
  • Office of Trust and Estates
  • Certain units (e.g., Laboratory of Ornithology)

Gifts-in-kind are evaluated on an individual basis and must be coordinated with Advancement Services.

Moving gifts in the general ledger normally is done by Advancement Services. This is important for fundraising purposes to make sure the individual gift record is reflected properly in the university contributor relations system.

  • Read more about Receiving Gifts

Indirect Cost on Gifts

On this page

  • Restricted Gifts 10% Charge
  • Indirect Cost Recovery (ICR) Entry
  • IDC Account Attributes for RGGIFT Account Setup
  • Waiving the 10% Charge
  • Accounting Entry to Reverse the 10% IDC Charge (in Current FY Only)
  • Read more about Indirect Cost on Gifts

Gift Funds

Also on this page...

  • Types of Gifts
  • Opening Gift Accounts
  • Read more about Gift Funds

External Organizations

The term “external organization” (EO) refers to any organization that acts on its own behalf. It is not legally part of the university and generally has its own taxpayer identification number (tax ID). Examples include alumni associations and student organizations.

  • Read more about External Organizations

Deposits

Bank Accounting handles banking transactions such as checking, deposits, lockbox and master accounts. It also monitors direct deposits, electronic deposits (EFT), match pays, sweeps, stops, voids, and abandoned property (checks). This area is also the liaison between campus units and the Cash Management office for reconciling banking accounts.

  • Read more about Deposits

Plant Construction Funds

Contents

  • Account Setup Process
    • Account Attributes
  • Capital vs. Non-Capital Costs
    • Fabricated Equipment
  • Accounting Guidelines
    • Payments from Project Construction Funds
  • Read more about Plant Construction Funds

Authorized Direct Charge Processors

Entry Type Origin Code Unit/Department Contact Document Type
Collector B1 Biotechnology Resource Center BRC Payment and Billing CLCC
Collector
  • Read more about Authorized Direct Charge Processors

Interdepartmental Billings

In the Kuali Financial System (KFS), billing entries are processed using one of the following methods:

  • Read more about Interdepartmental Billings

Accounts Receivable

Accounts receivable represents money that the university is expecting to receive from those who have not paid in full for goods or services provided. As such, it is an asset on the balance sheet. The receivable is increased when the amount owed to the university – from donors, grantors, customers and others – increases. To show an increase in accounts receivable, a debit entry is made in the journal. It is decreased when these amounts are settled or paid-off – with a credit entry.

  • Read more about Accounts Receivable

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Division of Financial Services

377 Pine Tree Road, East Hill Plaza
Ithaca, NY 14850

Hours:  8:00 a.m. - 4:30 p.m., Monday - Friday

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