Title |
Category | Code | Description |
|---|---|---|---|
| Year End- Accrued Income | Asset | 1999 | A current asset used to record income earned in the current fiscal year where funds have not been received by 6/30. Use: This object code is intended to be used from June 1 to July 31 and is the offset to an income object code when doing an accrual. The entry must be reversed in the following fiscal year (by July 31). Credit -Income Debit - 1999 |
| Year End-Accrued Expense | Liability | 2999 | A current liability used to record expenses incurred or received in the current fiscal year that are not paid until after 6/30. Use: This object code is intended to be used from June 1 to July 31 and is the offset to an expense object code when doing an accrual. The entry must be reversed in the following fiscal year (by July 31). Credit - 2999 Debit - Expense |
