Accounting

Revenue and Expense Year-End Accruals

Accruals are adjustments for revenue that has been earned but is not yet posted to the general ledger accounts, and expenses that have been incurred but are not yet posted to the general ledger accounts. Year-end accruals are adjusting entries to make sure revenue and expenses are recorded in the correct fiscal year.

Read more about Revenue and Expense Year-End Accruals

Cash Deposits at Year-End

If a bank deposit is made before July 1, but the advance deposit (AD) was not completed prior to July 1:

The department should not process an AD for a prior fiscal year if the AD was not processed prior to July 1. Accounting needs to process the entry.

Accounting will (1) contact the department to obtain complete account information (account and object code), and (2) prepare a Year End Distribution of Income and Expense (YEDI) e-doc to record the debit to cash and the credit to your departmental accounts.

Read more about Cash Deposits at Year-End

Year-End Biweekly Payroll Accrual

Posted: June 7, 2017

DFA will be processing a biweekly payroll accrual for seven days, June 22, 23, 26, 27, 28, 29 & 30 that must be accrued as a fiscal year (FY) 2017 expenses.

Contract college employee benefit rates for FY 2018

Posted: April 24, 2017

The new contract college employee benefit rates for fiscal year (FY) 2018 have been submitted to the Department of Health and Human Services for approval and are scheduled to be as follows:

Training for the KFS 7 upgrade

Posted: April 7, 2017

Cornell will be upgrading to KFS 7, Sunday, April 23. Listed below are the training options available during the week before the upgrade. These webinars will be conducted via Zoom.

Open Seats for DFA Classes: April through June

Posted: March 30, 2017

It's your last chance to attend DFA classes for the school year (classes will resume in September 2017)! The following DFA classes have open seats and are open to any person interested in learning more about Cornell accounting/finance policies.

KFS is getting a facelift: Upgrade to KFS 7 to occur in April

Posted: March 30, 2017

On April 23, after a scheduled upgrade completes, KFS users will experience a new look and feel to the Kuali Financial System (KFS). The upgrade to KFS 7 will include usability improvements to enhance the user’s experience.

Feb 17-21 special chart of accounts procedures to support PeopleSoft upgrade

Posted: February 15, 2017

To support the PeopleSoft upgrade (scheduled to start at 10:00 p.m., Friday, February 17, and complete by 8:00 a.m., Tuesday, 2/21) special KFS procedures will be in place for chart of accounts e-docs:

Open seats for DFA classes January through March

Posted: January 4, 2017

The following DFA classes have open seats and are open to any person interested in learning more about Cornell accounting/finance policies. Please register via CULearn.

Extended outage for KFS, e-SHOP, Travel, Procurement Gateway and PCard Receipt Submission

Posted: December 1, 2016

KFS, e-SHOP, Travel, Procurement Gateway and PCard Receipt Submission will be unavailble from 6:00 p.m., Friday, December 2, until approximately 6:00 p.m., Saturday, December 3, so that the KFS application and database can be migrated to a cloud server.

Pages for: