Accounting

August Auxiliary Voucher deadline extended to September 6, 2016

Posted: August 12, 2016

The Auxilliary Voucher deadline has been extended to September 6. For August 2016 month-end, please remember to run your final monthly financial statements after September 6.

Lease Classification

Cornell adopted on July 1, 2019, the Financial Accounting Standards Board (FASB) new accounting guidance on leases (FASB Accounting Standards Codification Section 842 (PDF) or “ASC 842”), which was issued in February 2016.

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Year-end reminders: YE e-doc creation, account reversions, planned outages

Posted: July 14, 2016

Please review your action list for any Year End (YE) e-docs. Initiators should follow up on YE e-docs to make sure they are approved.

Changes to year-end deadlines

Posted: July 12, 2016

Since KDW did not load the evening of July 11 with entries that successfully posted to KFS that day, we have adjusting the following deadlines for year-end processing:

Year-end biweekly payroll accrual processing

Posted: June 10, 2016

DFA will be processing a biweekly payroll accrual for six days, June 23, 24, 27, 28, 29 & 30, so that the accrual appears as a FY 2016 expense. This is an accrual for financial statement purposes only, there will be no labor ledger entries, nor will it affect effort certification reports.

Contract College Benefit Rates for Fiscal Year 2017

Posted: April 28, 2016

The new contract college employee benefit rates for fiscal year (FY) 2017 have been submitted to the Department of Health and Human Services for approval and are scheduled to be as follows:

Help for BSCs

Help for Payees

Updating Your Address

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Foreign Currency Payments

Making International Payments

International payments can be made by wire transfer and/or forward contract. Payments must be processed using a Disbursement Voucher (DV) e-doc in KFS with payment method of WIRE.

For more information see Making International Payments.

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AP Payment Schedule

COVID-19 RESPONSE: In light of the ongoing concerns of the COVID-19 outbreak, all non-essential staff members are now working remotely. Paper checks will be mailed on Wednesdays, but check pick-ups are not available until further notice. The check enclosure process will also no longer take place, indefinitely. Contact your business service center for guidance on check enclosures.

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