Unearned Revenue (Deferred Revenue) Special Revenue Fund

Posting Unearned Revenue (you received MORE cash than you expended for a grant)

CURRENT YEAR PROCEDURES: (MUST be completed BEFORE the year-end rollover)

1. In Budget >>>  Revenues  >>>  Receipts create a negative receipt for the amount of the unearned revenue  (The entry the system will post is DEBIT  Revenue Account   CREDIT  Cash)
2. In Account Maintenance  >>>  Adjustments  create a Balance Sheet adjustment to DEBIT Cash and CREDIT Unearned Revenues for the amount of the unearned revenue

SUBSEQUENT YEAR PROCEDURES: To apply the unearned revenue

1. In Budget >>>  Revenues  >>>  Receipts create a positive receipt for the amount of the unearned revenue  (The entry the system will post is DEBIT  Cash   CREDIT  Revenue Account)
2. In Account Maintenance  >>>  Adjustments  create a Balance Sheet adjustment to DEBIT Unearned Revenue and CREDIT Cash for the amount of the unearned revenue

Posting Accounts Receivable (you received LESS cash than you expended for a grant)

CURRENT YEAR PROCEDURES: (MUST be completed BEFORE the year-end rollover)

1. In the Invoice module, create an invoice for the receivable amount.
2. Ensure the invoice is rolled over as part of the year-end roll over.

SUBSEQUENT YEAR PROCEDURES:  To post the cash receipt

1. In Budget >>>  Revenues  >>>  Receipts create a create a positive receipt for the amount of the accounts receivable and post it to the accounts receivable balance sheet that you posted the receipt to in the prior year.