PLIF - Liability |
Liability |
2500 |
Use: Limited to the Division of Financial Affairs. |
PLIF - Income |
Liability |
2530 |
Use: Limited to the Division of Financial Affairs. |
Liability - Living Trust |
Liability |
2540 |
Use: Limited to the Division of Financial Affairs. |
Liability - Gift Annuity |
Liability |
2550 |
Use: Limited to the Division of Financial Affairs. |
Refundable Grants - U. S. Govt |
Liability |
2600 |
Use for activity related to the Perkins loan fund. Limited to the Division of Financial Services and Bursar Office. |
Travel Application Payable - LIMITED USE |
Liability |
2640 |
Concur travel amounts due employee. Use: Limited to system generated Concur transactions. |
Accounts Payable Offset |
Liability |
2900 |
Accounts payable offset entries are generated for disbursement vouchers, payment requests, credit memos and department feeds creating a liability until the payment is disbursed. Use: When the payment is made object code 2900 is reversed and replaced with 1000. This is automatic. |
Accounts Payable |
Liability |
2000 |
A current liability representing money owed by Cornell to outside sources. Use: Fringe Benefits (pension, insurances), taxes, garnishments, |
Accrued Expenses |
Liability |
2010 |
Accrued expenses are expenses that have been incurred but are not yet invoiced. Therefore they will not appear on the financial statements unless an adjusting entry is entered prior to month end. Use: Used to properly record expenses within an accounting period. |
Accounts Payable Other |
Liability |
2020 |
A current liability representing money owed by Cornell to outside sources. Anything not recorded on object code 2000. Use: Fringe Benefits (pension, insurances) |
SHP IBNR |
Liability |
2218 |
Use to record claims incurred but not yet reported for student health plan use only |
Liabilities - Tax |
Liability |
2025 |
To record sales tax liabilities Use: Record sales tax collected on the sale of goods. |
Deferred Comp |
Liability |
2220 |
Earned income that is payable at a later date and taxed at some point in the future. Use: Retirement plans, pension plans and stock-option plans. |
Internal Loan Payable - Capital |
Liability |
2030 |
Liability related to internal department loans, capital projects. Use: Restricted for DFS Use Only |
Deferred Benefits - LTIP Invest Earnings |
Liability |
2226 |
LTIP monthly investment earnings for Deferred Benefits accounts. Restricted for DFS use only. |
NON-QUAL DEFERRED COMP NO FRINGE |
Liability |
5445 |
Deferred compensation for specific employees. Zero fringe rate % |
Operating Loan Payable |
Liability |
2032 |
Liability related to internal operating loans. Use: Restricted for DFS Use Only |
Deferred Benefits - Postemployment |
Liability |
2227 |
Accrued post-employment benefit obligations. Use: Workers' compensation and medical continuation benefits for those on long-term disability |
Non Resident Alien Fed Tax Withholding |
Liability |
2045 |
Payroll tax withholding Use: Payroll tax withholding for non resident aliens. |
Deferred Comp - LTIP Investment Earnings |
Liability |
2228 |
LTIP monthly investment earnings for Deferred Compensation accounts. Restricted for DFS use only. |