Data Dictionary
Item Number J851
OTHER ASSETS: PREPAID EXPENSES: OTHERCall confidentiality applies to FFIEC 031/041.
| Series | Start Date | End Date | Confidential? | Reporting Forms |
|---|---|---|---|---|
| FRBSJ851 | 1989-12-31 | 9999-12-31 | Yes | FR 34 |
Data Description:
This account reflects all prepaid expenses not specifically covered by paragraphs 4.30 and 4.33. As noted in paragraph 1.20, all prepayments of $25,000 or more are entered into this account or the deferred charges account (see paragraph 4.20) including assessments by the Board of Governors. Additionally, some inventory type items other than materials and supplies, such as airline tickets, are also recorded in this account when they are received with the offset to Sundry Items Payable and expensed when the travel is completed. At the Reserve Bank's option, items which will be consumed within the month may be expensed and not entered to this account. This account may also be used for various control purposes, such as recording travel advances to employees and salary advances prior to the date of regular salary payment. Individual ledger accounts should be maintained as necessary to permit effective control. Advance payments for vendor purchases held in this account pending delivery should not be amortized.