7000-7299 Series: Miscellaneous Deductions
| 7000 - Payroll Adjustments | |
|---|---|
| Adjustments coded only by the Payroll Department. | |
| 7005 - Payroll Withholding Remit | |
| Payroll withholdings remitted to governmental agencies, insurers, etc. Examples include Blue Cross Blue Shield, dental insurance, federal, FICA and state income taxes, IPERS and TIAA/CREF, major medical insurance and unemployement insurance. | |
| 7020 - Prior Period Adjustments | |
| To record adjustments applicable to a prior period. For Accounting & Financial Reporting use only. | |
| 7030 - Non-Recurring Adjustments | |
| Expense adjustment that is non-recurring and a material amount to warrant using this account to distinguish it from recurring operating expenses. | |
| 7055 - Gain Loss On Sale Of Cap Asset | |
| Used to account for the deposit of proceeds from the sale of capitalized equipment. | |
| 7065 - Disposal Of Plant Facilities | |
| Used to record the deletion of fixed assets retired during the year. | |
| 7075 - Retirement Of Indebt Prin Bond | |
| The payment of the principal portion of an obligation out of Retirement of Indebtedness Plant Funds. | |
| 7080 - Retirement Of Indebt Prin Note | |
| The payment of the principal portion of an obligation out of Retirement of Indebtedness Plant Funds. | |
| 7085 - Capital Leases Principal | |
| The payment of the principal portion of an obligation on a Lease Purchase agreement. | |
| 7100 - Med Dental Serv Plan Close Out | |
| Year end close out only and to be used within fund 980 through 994 by the College of Medicine and the College of Dentistry.
(Must be recorded with account 3100 MEDICAL/DENTAL SERV PLAN CLOSE OUT) |
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