|
Liability - Living Trust |
Liability |
2540 |
Use: Limited to the Division of Financial Affairs. |
|
Liability - Gift Annuity |
Liability |
2550 |
Use: Limited to the Division of Financial Affairs. |
|
Refundable Grants - U. S. Govt |
Liability |
2600 |
Use for activity related to the Perkins loan fund. Limited to the Division of Financial Services and Bursar Office. |
|
Travel Application Payable - LIMITED USE |
Liability |
2640 |
Concur travel amounts due employee. Use: Limited to system generated Concur transactions. |
|
Accounts Payable Offset |
Liability |
2900 |
Accounts payable offset entries are generated for disbursement vouchers, payment requests, credit memos and department feeds creating a liability until the payment is disbursed. Use: When the payment is made object code 2900 is reversed and replaced with 1000. This is automatic. |
|
Retainage - Liability |
Liability |
2070 |
FACILITIES and DFS USE ONLY. A portion of the agreed upon contract price deliberately withheld until the work is substantially complete to assure that contractor or subcontractor will satisfy its obligations and complete a construction project. |
|
Notes Payable - Non-Debt |
Liability |
2100 |
Use: Limited to the Division of Financial Affairs. |
|
Bonds Payable |
Liability |
2110 |
To record liability related to External Bond Debt - Financial Statements Bonds and Notes Payable Use: External Bond Debt Only |
|
NON-QUAL DEFERRED COMP NO FRINGE |
Liability |
5445 |
Deferred compensation for specific employees. Zero fringe rate % |
|
Liabilities - External-Other Debt |
Liability |
2130 |
To record liability related to other miscellaneous debt on the Bonds and Notes Payable Financial Statements Use: Bonds and Notes Payable Debt Only |
|
Accounts Payable |
Liability |
2000 |
A current liability representing money owed by Cornell to outside sources. Use: Fringe Benefits (pension, insurances), taxes, garnishments, |
|
Bond Premium |
Liability |
2140 |
Deferment of Bond Premium costs over the life of the debt. The expense is amortized monthly. Used to Record deferment of Bond Premium related to External bond Debt. |
|
Accrued Expenses |
Liability |
2010 |
Accrued expenses are expenses that have been incurred but are not yet invoiced. Therefore they will not appear on the financial statements unless an adjusting entry is entered prior to month end. Use: Used to properly record expenses within an accounting period. |
|
Deferred-Bond Issuance Costs-Contra Liab |
Liability |
2141 |
Deferment of Bond Issuance costs over the life of the debt. The expense is amortized monthly Use: Record deferment of issuance costs paid on External bond Debt. |
|
Accounts Payable Other |
Liability |
2020 |
A current liability representing money owed by Cornell to outside sources. Anything not recorded on object code 2000. Use: Fringe Benefits (pension, insurances) |
|
Tips Non-student |
Liability |
5298 |
Special code used by Statler Hotel to hold tips for non-students. This acts like a payroll code so it can be used by the payroll system. Use: Tips earned at Statler Hotel. Min fringe rate -- see KFS Labor Distribution Table Labor Benefits Calculation table for fringe rate %. |
|
SHP IBNR |
Liability |
2218 |
Use to record claims incurred but not yet reported for student health plan use only |
|
Liabilities - Tax |
Liability |
2025 |
To record sales tax liabilities Use: Record sales tax collected on the sale of goods. |
|
Tips Student |
Liability |
5299 |
Special code used by Statler Hotel to hold tips for students. This acts like a payroll code so it can be used by the payroll system. Use: Tips earned at Statler Hotel. Zero fringe rate. |
|
Deferred Comp |
Liability |
2220 |
Earned income that is payable at a later date and taxed at some point in the future. Use: Retirement plans, pension plans and stock-option plans. |
