Use this form to send deposits to the bank. One physical deposit requires two copies of the form, and the form must correspond to exactly one line of the Advance Deposits tab of the AD e-doc.
Unknown variances typically are discovered while reconciling asset (other than accounts receivable) or liability object codes. Typically variances are errors that may have accumulated over several years or the object code has not been reconciled. Making corrections may have material impacts to the university's financial statements and could be an indication that the process needs to be revised. Please consult with Accounting for guidance in establishing a new procedures.
A write-off is an elimination of an uncollectible accounts receivable recorded on the general ledger. An accounts receivable balance represents an amount due to Cornell University. If the individual is unable to fulfill the obligation, the outstanding balance must be written off after collection attempts have occurred.
Interdepartmental activity can be defined as the billing of goods and services provided by one university department to another internal department, reflecting internal revenue to the provider and internal expense to the customer. When documenting these transactions, one must only use object codes with a sub-type “ID” for interdepartmental activity.
Fund groups categorize the characteristics and limitations placed on the resources recorded in accounts. They indicate the general category of funds, and are used to classify sub-fund groups into one of these categories:
Travel costs are routinely incurred by staff members, faculty, and students on behalf of the university. Travel advances are funds occasionally issued to those eligible to receive them – in order to cover travel costs. Prepaid travel represents money already spent (e.g., flights, hotel expenses, etc.) in advance of expected travel. For accounting purposes, these funds are recorded as assets on the university’s balance sheet until they are depleted.
