{"id":892,"date":"2013-10-04T14:44:01","date_gmt":"2013-10-04T18:44:01","guid":{"rendered":"http:\/\/carleton.ca\/facts\/?page_id=892"},"modified":"2017-05-30T14:03:53","modified_gmt":"2017-05-30T18:03:53","slug":"revenuerecovery","status":"publish","type":"page","link":"https:\/\/carleton.ca\/facts\/glossary\/r\/revenuerecovery\/","title":{"rendered":"Revenue\/Recovery"},"content":{"rendered":"<h3>What is it?<\/h3>\n<p>Revenue, also referred to as income, is the generation of assets through business activities.<\/p>\n<h3>Why is it important?<\/h3>\n<p>For the University, this would include tuition and grant revenue, sale of goods or services to external parties, donations received and investment earnings.\u00a0Revenues in the Carleton chart of accounts (COA) are found in account codes that start with 5.<\/p>\n<p>Revenue, technically, cannot be generated by providing services or sales to internal departments or units of the University.\u00a0There is no generation of new assets (i.e. cash) to the overall University and therefore internal sales\/services must not be recorded as external revenue (i.e. using revenue account codes that start with 5) but as an internal recovery.\u00a0There are several recovery accounts, depending on the nature, which are housed within the expense section of the general ledger.\u00a0The internal recovery will still provide a source of \u2018funding\u2019 to the unit providing the sale\/service, but the University\u2019s overall revenue\/income will not be overstated.<\/p>\n<h3>Where do I find more information?<\/h3>\n<p>For a list of commonly used revenue, internal recovery and expense account codes:\u00a0<a href=\"http:\/\/carleton.ca\/financialservices\/systems\/banner\/banner-finance\/commonly-used-account\/\" target=\"_blank\" rel=\"noopener noreferrer\">commonly used account codes<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is it? Revenue, also referred to as income, is the generation of assets through business activities. Why is it important? For the University, this would include tuition and grant revenue, sale of goods or services to external parties, donations received and investment earnings.\u00a0Revenues in the Carleton chart of accounts (COA) are found in account [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":0,"parent":98,"menu_order":198,"comment_status":"open","ping_status":"closed","template":"","meta":{"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","_mi_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":"","_links_to":"","_links_to_target":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Revenue\/Recovery - Financial Administration Community Training &amp; Solutions<\/title>\n<meta name=\"description\" content=\"What is it? 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