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Queen's University

Use of Account 480001

When using account 480001 to record a journal entry, the account 480001 must be used on both sides of the journal entry. In other words, the net impact to account 480001 must be nil. This is an internal revenue transfer account. Therefore, this account cannot be used to record transfers between Queen’s University Funds and Agency funds in the general ledger. An agency fund begins with a “9”. Agency funds are not included as part of the Queen’s University financial reporting framework and are considered separate reporting entities.

Please refer to for additional information relating to the use of the general ledger accounts.

Kind Regards,

Financial Services

Kingston, Ontario, Canada. K7L 3N6. 613.533.2000