24xxxx: Deferred Credits | Accounting

I. GENERAL

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

240500 Prepaid Residential Cable Service - Valid for: DUHS, Univ

240501 Prepaid Residential Local Telephone Service - Valid for: Univ

240502 Prepaid Residential Paging Service - Valid for: Univ

240503 Prepaid Residential Cellular Service - Valid for: Univ

240504 Prepaid Residential Video IP Service - Valid for: Univ

240600 Sponsored Programs Deferred Revenue - Valid for: Sponsored Programs Only

240800 ATM Rent Revenue (Payment) Clearing - Valid for: Univ, Treasury Operations

Treasury and Cash Management use this account to reclass payments to the proper revenue account.

240900 Deferred Premium Income - Valid for: DUHS

240901 Deferred Premium Income - DCC - PCL - Valid for: DUHS Corporate Finance

This G/L should be used to separately identify deferred premium income related to the new DCC Privacy/Cyber Liability (PCL) cell.

240902 Deferred Premium Income - DCC - IL - Valid for: DUHS Corporate Finance

This G/L should be used to separately identify deferred premium income related to the new DCC International Liability (IL) cell.

241000 Law School Deferred Program Fees - Valid for: Univ

Represents deferred revenue for Law School programs.

241100 Bursar Cash Clearing - Valid for: Univ

241200 Payroll Overpayment Clearing Account - Valid for: Univ

241400 Diet and Fitness Center Deferred Revenue - Valid for: DUHS, Univ

Represents current deposits and programs fees paid in advance of the program.

241415 Deferred Revenue: DIM - Valid for: DUHS

To record deferred revenue activity for Duke Center for Integrative Medicine

241416 Deferred Revenue - DHFC - Valid for: Univ, DUHS

This G/L account should be used to record deferred revenue activity for Duke Health and Fitness Center

241417 Deferred Revenue Duke Integrative Medicine - Valid for: DUHS

To isolate entries flowing from the new front end software system. (Created Nov/2014)

241500 Stedman Obesity Program Patient Deposits - Valid for: Closed

241600 Deferred Revenue: Young Writers Camp - Valid for: Closed

Represents deferred revenue received for continuing education summer and residential programs. Closed to posting 10/2014 - cc0010

241700 Fuqua Executive Education Deferred Revenue - Valid for: Univ

Represents deferred revenue for the Fuqua Executive Education programs.

241800 Thomas Center Deferred Revenue - Valid for: Univ

Represents deferred revenue related to the operations of the Thomas Executive Education Center.

242000 Duke Hospital Deferred Revenue: Food Services - Valid for: DUHS, Univ

Represents deferred revenue from prepaid balances on debit cards used in the Duke Hospital cafeterias.

242100 Dining Services Deferred Revenue: Food - Valid for: Closed

Represents deferred revenue obtained by Dining Services through academic year contracts. These contracts provide patrons a prepaid account for food services. (Closed 3/2016)

242200 Dining Services: Deposit Clearing Account - Valid for: Univ

Dining Services' clearing account for cash deposits. This G/L account should reconcile to zero at the end of each fiscal month.

242201 Merchants on Points - Valid for: Closed

To split 242200. Will allow for grouping of types of transactions and facilitate reconciliation.

242202 Food/Flex - Valid for: Closed

242203 FLUNCH - Valid for: Closed

242204 Board Plan - Valid for: Closed

242205 Faculty Charge Adjustments - Valid for: Closed

242206 Merchants on Points Clearing - Valid for: Univ

(Created 12/2014)

242207 DS - Food/Flex Clearing - Valid for: Univ

242208 DS - FLUNCH Clearing - Valid for: Univ

242209 DS - Board Plan Clearing - Valid for: Univ

242210 Faculty Charge Clearing - Valid for: Univ

Dining Services' clearing account for faculty charges. (created 11/2014)

242211 Dining Services - Deposit Clearing - Valid for: Univ

242212 Fuqua Fox Center POS Clearing - Valid for: Univ

242220 Athletic Concessions Points Clearing - Valid for: Univ

To capture points sales from Quadpoint and match to collected funds from Transact.

242221 Athletic Concessions Credit Card Clearing - Valid for: Univ

To capture credit card sales from Quadpoint and match to deposits from Merchant Bank.

242300 Dining Services: Deferred Revenue Board Plan - Valid for: Closed, Univ

Represents deferred revenue obtained by Dining Services through the mandatory board plan. Revenue will be recognized as meals are eaten.

242301 Deferred Revenue - Board Plan - Marine Lab - Valid for: Univ

Represents deferred revenue obtained by Dining Services through the mandatory Board Plan at he Marine Lab in Beaufort, NC. Revenue will be recognized as meals are eaten.

242400 Deferred Revenue: Flexible Spending Accounts - Valid for: Closed

Represents deferred revenue from flexible spending plans prepaid by students for expenses such as copying, textbooks, etc. (Closed 3/2016)

242401 Deferred Revenue: FLEX: Cash Deposits - Valid for: Closed

(Closed 3/2015

242402 Deferred Revenue: FLEX: VTS Parking Garage II - Valid for: Closed

This GL is used to account for deferred revenue for FLEX VTS Parking Garage II.(Closed 3/2015)

242403 Deferred Revenue: FLEX: VTS DCO - Valid for: Closed

(Closed 3/2015)

242404 Deferred Revenue: FLEX: VTS Divinity - Valid for: Closed

(Closed 3/2015)

242405 Deferred Revenue: FLEX: VTS Fuqua East - Valid for: Closed

This GL is used to account for deferred revenue for FLEX VTS Fuqua East.(Closed 3/2015)

242406 Deferred Revenue: FLEX: VTS Law - Valid for: Closed

(Closed 3/2015)

242407 Deferred Revenue: FLEX: VTS Lilly - Valid for: Closed

(Closed 3/2015)

242408 Deferred Revenue: FLEX: VTS Perk - Valid for: Closed

(Closed 3/2015)

242409 Deferred Revenue: FLEX VTS South Hospital Food Court - Valid for: Closed

This G/L is used to account for deferred revenue for FLEX VTS Duke South Hospital food court.(Closed 3/2015)

242410 Deferred Revenue: FLEX VTS North Pavilion - Valid for: Closed

This G/L is used to account for deferred revenue for FLEX VTS Duke North Pavilion.(Closed 3/2015)

242411 Deferred Revenue: FLEX VTS North Hospital Cafeteria - Valid for: Closed

This G/L is used to account for deferred revenue for FLEX VTS Duke North Hospital cafeteria.(Closed 3/2015)

242412 Deferred Revenue: FLEX VTS Duke Regional Hospital - Valid for: Closed

This G/L is used to account for deferred revenue for FLEX VTS Durham Regional Hospital.(Closed 3/2015)

242413 Deferred Revenue: FLEX Kiosk DCO - Valid for: Closed

This G/L is used to account for deferred revenue for FLEX Kiosk DCO.(Closed 3/2015)

242414 Deferred Revenue: FLEX Kiosk Fuqua - Valid for: Closed

This G/L is used to account for deferred revenue for FLEX Kiosk Fuqua.(Closed 3/2015)

242415 Deferred Revenue: FLEX Kiosk Perkins - Valid for: Closed

This G/L is used to account for deferred revenue for FLEX Kiosk Perkins Library.(Closed 3/2015)

242416 Deferred Revenue: FLEX Kiosk Wilson - Valid for: Closed

This G/L is used to account for deferred revenue for FLEX Kiosk Wilson Library.(Closed 3/2015)

242430 Duke Card - Payroll Ded Clearing - Valid for: Closed

242431 DukeCard - Bursar Transfer Clearing - Valid for: Closed

242500 Duke University Athletic Association - Valid for: Univ

Represents deferred revenue of the Athletic Association, i.e., ticket sales, program advertisement, etc. collected in current fiscal year for next fiscal year. Revenue is distributed to proper game code or advertising revenue after beginning of new fiscal year.

242502 Deferred Football Revenue - Valid for: Univ

242503 Deferred Ticket Revenue - Valid for: Univ

242600 Duke University Artists Series - Valid for: Closed

Represents revenue received from sales of Duke Artist Series season tickets applicable to the following fiscal year.

242700 Golf Course: Gift Certificates - Valid for: Univ

Represents deferred revenue received from the sale of gift certificates at the golf course. Revenue is recognized when the gift certificates are redeemed.

242800 DS - Defer Rev - Food - Valid for: Univ

242810 Duke FED Funds for Distribution - Valid for: Univ

To track Food points donations available for distribution to recipients.

242825 Defered Revenue - Faculty Charge - Valid for: Univ

242830 Deferred Revenue - House Staff - Valid for: Univ

created 1/15

242850 DS - Defer Rev Board Plan - Valid for: Univ

242900 Defer Rev - Flex Spend - Valid for: Univ

242901 Def Rev - Flex - Cash - Valid for: Univ

242902 VTS - PG II - Valid for: Univ

242903 VTS - DCO - Valid for: Univ

242904 VTS - Divinity - Valid for: Univ

242905 VTS - Fuqua East - Valid for: Univ

242906 VTS - Law - Valid for: Univ

242907 VTS - Lilly - Valid for: Univ

242908 VTS - Perkins - Valid for: Univ

242909 VTS - So Hosp Food Ct - Valid for: Univ

242910 VTS - No Pavillion - Valid for: Univ

242911 VTS - No Hosp Cafeteria - Valid for: Univ

242912 VTS - Durham Regional - Valid for: Univ

242913 Kiosk - DCO - Valid for: Closed

242914 Kiosk - Fuqua - Valid for: Closed

242916 Kiosk - Wilson - Valid for: Closed

242917 Kiosk - Med Ctr Office - Valid for: Closed

(Created 12/2014)

242918 Kiosk - Perkins - Valid for: Closed

243000 Deferred Revenue - Stores Charge - Valid for: Univ

To track the stored value account balances for Stores charge payroll deduction transactions. This account will be reconciled to the balances in the DukeCard Blackboard Transact system.

243001 Internal Charge SV Balance - Valid for: Univ

243100 Duke Press: Credit Card Clearing - Valid for: Univ

This is a clearing account used to record all credit card purchases of Duke Press Publications.

243156 Duke University Press: Books All - Valid for: Univ

243200 Duke Press: Books (Not Yet Published Orders) - Valid for: Univ

Represents revenue from orders received for Duke University Press books that have not yet been published.

243201 Duke Press - Subvention - Valid for: Univ

This G/L is used to record deferred revenue for subvention monies received.

243202 Duke Press: Deposits Clearing Account - Valid for: Univ

243300 Duke Press: Shipping Revenues - Valid for: Univ

Represents unearned revenue received for payment of shipping charges on Duke Press journals not yet shipped.

243301 Duke Press: Sub Right - Valid for: Univ

243302 Duke Press: Rights & Permission - Valid for: Univ

To deposit and distribute royalties earned by authors/editors for rights and permissions

243400 Duke Press: Subscription Revenue - Valid for: Univ

Represents unearned revenues resulting from subscriptions to Duke Press journals.

243456 Duke University Press: Journals All - Valid for: Univ

243462 Duke University Press: Journals All - Valid for: Univ

243500 Duke University Press - Valid for: Univ

Represents subsidies to be applied to production costs for books published by Duke Press.

243556 Duke Press: Special Projects - Valid for: Univ

243557 Art History Publication Initiative Support Fund - Valid for: Univ

To track expenses and revenue related to the Art History Publication Initiative.

243561 Rights and Permissions Agent Payable - Valid for: Univ

To record expenses related to the sale of rights and permissions that will be payable to our agents.

243562 Duke Press: Project Euclid - Print on Demand - Valid for: Univ

Changed in FY2013 to track Print On Demand for Project Euclid. This account was titled Duke Press: All Journals.

243563 Environmental Humanities - Support Fund - Valid for: Univ

243565 Duke Press: DMJ 100 Reserve for Upgrade - Valid for: Univ

243566 Duke Press: Deposits Not Yet Distributed - Valid for: Univ

243569 Journal Societies - Valid for: Univ

243600 Gift Records Office Clearing Account - Valid for: Closed

This is a clearing account for all non-security gifts received by the Gift Records Office. It is cleared at month end when the specific cost object is credited. (Closed 2012)

243601 Gift Records Office Clearing Account - Valid for: Univ, DUHS

This is a clearing account for all non-security gifts received by the Gift Records Office. It is cleared at month end when the specific cost object is credited.

243800 Deferred Credit: Gift Records Suspense - Valid for: Closed

Represents gifts received by the Gift Records Office for which either a cost object has not been established or the donor has not yet designated the purpose of the gift.

243900 Gift Records Office Clearing Account: Securities - Valid for: Closed

This is a clearing account for gifts of stocks and bonds received by the Gift Records Office. It is cleared at month end when the specific cost object is credited.

244000 Housing Management - Valid for: Univ

Represents revenue received for summer housing programs (other than regular summer sessions) which cross between two fiscal years.

244100 Parking Deferred Revenue - Valid for: Univ

To establish a means for Duke University Parking to sell parking permits in one fiscal year, but defer the revenue until the following fiscal year.

244200 Stores IR Clearing Account - Valid for: Closed

Represents the revenue clearing account for Interdepartment Requests (IR) used at Duke Stores. This G/L account should only be used by the Auxiliaries Finance Office. This account should reconcile to zero at the end of each fiscal month.

244300 Duke Stores: Deferred Revenue - Valid for: Univ

Represents unearned revenue earned on office machine repair contracts and gift certificates sold but not redeemed.

244301 Stores Gift Card Clearing - Valid for: Univ

244302 Duke Stores Sequoia Gift Card Clearing - Valid for: Univ

(created 12/2014)

244400 Stores Deposit Clearing - Valid for: Univ

Represents the revenue clearing account for Duke Stores. Entries to this G/L account should only be prepared or expressly authorized by the Duke Stores Business Office.

244401 Stores Points Clearing - Valid for: Closed

To split 24400 and establish a new G/L for Points transactions will facilitate tracking and reconciliation. (Closed June 2016)

244402 Parking Deposit Clearing - Valid for: Univ

Clearing account to be used for deposits related to Parking only.

244403 Event Management/Duke Card Office Deposit Clearing - Valid for: Closed

Clearing account to be used for deposits related to Event management and the Duke Card Office only. (Closed June 2016)

244404 Stores Deposit Clearing - Valid for: Univ

244405 Stores Points Clearing - Valid for: Univ

244406 Stores Points Clearing - R&R - Valid for: Univ

244407 DukeCard Office Clearing - Valid for: Univ

244408 Parking Services - Deposit Clearing - Valid for: Univ

244409 Vending - Canteen Clearing - Valid for: Univ

244410 Vending - Coke Clearing - Valid for: Univ

244411 Vending - Pepsi Clearing - Valid for: Univ

244412 Laundry Clearing - Valid for: Univ

244500 Retail Stores: Inventory Accruals - Valid for: Closed

Represents the accrual of purchases received by the retail stores for which an invoice has not yet been received and recorded by Procurement Services.

244522 Textbook Invoice Clearing - Valid for: Closed

Used to track Stores invoices for textbooks. These invoices are processed differently than other Stores invoices. (Closed Jun 2016)

244523 Textbook Invoice Clearing Account - Valid for: Univ

Used to track Stores invoices for textbooks. These invoices are processed differently than other Stores invoices. (added 8/2014)

244524 Inventory Merchandise Returns - Valid for: Univ

This G/L account is used to track inventory returns for merchandise sold by Duke Stores for an easier reconciliation to the Sequoia system.

244525 Stores Accruals & Shrinkage - Valid for: Univ

To record monthly accruals and inventory shrinkage.

244600 Student Loans: Wachovia Services Plus Loans Clearing Account - Valid for: Univ

This is a clearing account used to record student Plus Loan payments received through Wachovia Services, Inc.

244700 Student Loans: Wachovia Services Clearing Account - Valid for: Univ

This is a clearing account used to record student Stafford Loan payments received through Wachovia Services, Inc.

244800 Student Loans Office Clearing Account - Valid for: Univ

This is a clearing account used for student loan payments made directly to Duke University.

244900 Student Loans: Advance Payments - Valid for: Univ

Represents student loan payments that have been made in advance of their due date. As payments become due, they are transferred to the student's account.

245000 Summer Session - Valid for: Closed

Represents summer school student revenue applicable to term II and III which is being deferred until the fiscal year for which it is applicable.

245100 Foreign Abroad Summer Programs Deferred Revenue - Valid for: Univ

Represents revenue for summer abroad programs which is received in the fiscal year prior to which it is applicable.

245200 Foreign Abroad Academic Year Programs Deferred Revenue - Valid for: Univ

Represents revenue for academic year abroad programs which is received in the fiscal year prior to which it is applicable.

245300 Student Loans: Medical School Direct Pay Clearing Account - Valid for: Closed

245400 Loan Repayment Assistant Program - Fuqua - Clearing - Valid for: Univ

Clearing account for the Fuqua Loan Repayment Assistance program.

245500 Student Loans: Divinity Loans Direct Pay Clearing Account - Valid for: Closed

245600 Student Loans: School of Environment Loans Direct Pay Clearing Account - Valid for: Univ

245700 Student Loans: Graduate Arts & Sciences Loans Direct Pay Clearing Account - Valid for: Closed

245800 Student Loans: Law Loans Direct Pay Clearing Account - Valid for: Closed

245900 Student Loans: Undergrad Loans Direct Pay Clearing Account - Valid for: Closed

246000 Student Loans: Nursing Loans Direct Pay Clearing Account - Valid for: Closed

These G/L accounts are used as clearing accounts for Stafford student loan funds received by bank wire directly from the guarantor. After student authorization, funds are transferred to the student's Bursar account.

246100 Student Loan Office Firstar Bank Clearing Account - Valid for: Univ

This is a clearing account used to record student loan payments received through Firstar Bank.

246101 Student Loan - Collection Cost - Valid for: Univ

This clearing account should be used to record agency collection costs.

246102 MVA FEES (CLEARING) - Valid for: Univ

This is a clearing account used to record Moore & Van Allen collection fees.

246103 Bursar Account Clearing - Valid for: Closed

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)

246104 Credit Balance Refunds (ECSI) - Valid for: Univ

This G/L is a clearing account for the refund transactions posited to ECSI. The adjustment is made in ECSI and a check is issued to the borrower through AP.

246105 Clearing Account - CFCU Payments - Valid for: Closed

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)

246200 Student Loans: Undergraduate 99/00 Direct Pay Clearing Account - Valid for: Univ

This is a clearing account for EFT loans designed for undergraduate students in the 99/00 academic year.

246201 Direct Loans Clearing Account - Valid for: Univ

To be used for wire transfers related to the DAL program

246202 NCSEAA Loans Clearing Account - Valid for: Univ

246203 Pell Grants Clearing Account -

246204 Veteran Benefits Clearing Account -

246205 NC Need Based Scholarships Clearing Account -

246300 Deferred Affiliation Revenue: Beaufort - Valid for: DUHS

246400 Deferred Affiliation Revenue: Naples - Valid for: DUHS

246500 Graduate Student Lending: Stafford - Valid for: Closed

To account for new loan fund program via sell of commercial paper. Proceeds to fund Stafford graduate student loans.

246600 Tuition Remission Clearing Account - Valid for: Univ

This G/L account is used as a clearing account for graduate student tuition remissions billed to projects.(opened 3/2015)

249000 Sundry Deferred Credits - Valid for: DUHS, Univ

Represents miscellaneous receipts applicable to the next fiscal month or year.

249001 Accounts Payable Business Area/Function Area Readjustment Account - Valid for: DUHS, Univ

249002 Tax Business Area/Function Area Readjustment Account - Valid for: DUHS, Univ

249003 Use Tax Bus Area/Function Area Readjustment - Valid for: Closed

249004 Business Area/Function Area Clearing Account - Valid for: DUHS, Univ

249005 Deferred Departmental Vendor Refunds - Valid for: Univ

249009 Sundry Deferred Credits - Valid for: DUHS

249010 OIT NC Utility Tax Clearing Account - Valid for: Univ

249011 Center for Living Prepaid Membership - Valid for: Univ

249014 DCRI Deferred Revenue - Valid for: Univ

249100 Deferred Tuition Revenue - Valid for: Univ

This GL account is used to defer tuition revenue

249500 TIP ED Programs Deferred Revenue - Valid for: Univ

Represents funds received from TIP students for ACT test registration fees. Fees are later transferred to the testing organization.

249600 TIP Holding Account for SAT Registration Fees - Valid for: Closed

Represents funds received from TIP students for SAT test registration fees. Fees are later transferred to the testing organization.

249700 Talent Identification Program - Valid for: Closed

Represents deferred revenue resulting from fiscal year revenue/expense matching in the Talent Identification Program.

249701 Identification & Support Services (ISS) Deferred Revenue - Valid for: Univ

Represents deferring ISS revenue received in one fiscal year when the corresponding workshops occur in the next fiscal year.

249705 Deferred Revenue Pre-College - Valid for: Univ