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- General Ledger Account Definitions
- Liabilities & Fund Equity
- 24xxxx: Deferred Credits
24xxxx: Deferred Credits
Deferred credits represent revenue received by Duke University that has not yet been earned. When the revenue is earned, it will be moved from a deferred credit G/L account to a revenue G/L account.
II. G/L ACCOUNT DEFINITIONS
To split 242200. Will allow for grouping of types of transactions and facilitate reconciliation.
To capture points sales from Quadpoint and match to collected funds from Transact.
To capture credit card sales from Quadpoint and match to deposits from Merchant Bank.
To track Food points donations available for distribution to recipients.
To record expenses related to the sale of rights and permissions that will be payable to our agents.
Represents the accrual of purchases received by the retail stores for which an invoice has not yet been received and recorded by Procurement Services.
This account represents past due Bursar accounts that have been submitted to the Loan Office for collection. The loan office will clear this account daily and move the accounts to be collected to 146604 - Bursar / SLO Accounts. (MAY 2021)
To as a clearing account to post monthly payments received from Coastal Credit Union. Payment will be reallocated by JV to 149300, 147900, servicing revenue, and misc exp. (MAY 2021)