|
Deposits in Transit/CC Receivable |
Asset |
1290 |
Used to temporarily hold credit card receivables. Should not be used for most credit card transactions as they are considered income as soon as they are received and should be booked to a revenue object code. |
|
Interdept - Accounts Receivable |
Asset |
1280 |
An asset created from sales activity between Cornell departments. An interdepartmental income code must be used on the other side of the transaction. Use: Used by departments to record income when the customers account can't be charged an expense due to the period end (month or year). |
|
Operating Loan AcctRec |
Asset |
1272 |
Asset related to internal operating loans. Use: Restricted for DFS use only. |
|
Internal Loan AcctRec -Noncapital |
Asset |
1271 |
Asset related to internal department loans, non-capital projects. Use: Restricted for DFS use only. |
|
Internal Loan AcctRec -Capital |
Asset |
1270 |
Asset related to internal department loans, capital projects. Use: Restricted for DFS use only. |
|
Allowance for Doubtful Accts |
Asset |
1250 |
Allowance for Doubtful Accounts is a contra current asset object code associated with A/R. When the allowance object code is used, the unit is anticipating that some accounts will be uncollectible in advance of knowing the specific amount Use: Units billing sales to external customers where the possibility of default exists. The allowance normalizes fund balance activity. |
|
Accounts Receivable-Student Loan Inst |
Asset |
1226 |
Asset created when Cornell loans institutional funds to a student Use: PILIPP, Law School, Endowment loan programs |
|
Accounts Receivable - Student Loan Fed |
Asset |
1225 |
Asset created when a student's account is credited prior to receipt of loan funds from federal sources. Use: Perkins, Stafford |
|
Accounts Receivable - Student |
Asset |
1220 |
Asset created when a student's account is credited prior to receipt of external funds Use: Private loans from banks, outside scholarships |
|
Account Receivable - NYS |
Asset |
1217 |
New York State appropriation due to Cornell Use: Allocation distributed to colleges prior to funds received from NYS |
|
Accounts Receivable |
Asset |
1200 |
A current asset representing an amount due Cornell resulting from the sale of goods or services. Use: Any department where goods and services are invoiced. |
|
Cash Equivalent/Investment Restate |
Asset |
1131 |
Use: Limited to the Division of Financial Affairs. Reclass entry to restate Investments & Cash Eq. |
|
Cash Equivalents |
Asset |
1130 |
Marketable assets that are very close to their maturity dates. Use: Use limited to the Division of Financial Affairs. |
|
Restricted Cash |
Asset |
1120 |
Represents cash received and being held for a restricted purpose (ie security deposit) |
|
Cash In Bank |
Asset |
1110 |
Represents the actual cash deposited in Cornell's bank accounts. Use: Automatically populated by KFS when an advance deposit (AD) is completed. |
|
Cash Drawer |
Asset |
1101 |
Specific amount of cash used to make change in retail operations. (register drawer or vault) Use: Reconciliation of cash drawers should be done every day the drawer is used and periodically if the drawer is not used regularly |
|
Cash - Petty Cash |
Asset |
1100 |
Minimal amount of cash kept on hand to pay for small expenditure items ($75 and under) when a procurement card cannot be used. Use: See policy 3.21 |
|
Cash Offset |
Asset |
1000 |
Cash offset entries are generated for most transactions, thereby balancing the account (debits equal credits), independent of any other account. Use: Most of the entries you create will automatically generate a cash offset entry. These are automatic. |
