Creating New Accounts in Inventions – Cayuse Help Center

To create a new account, click on the Finances tab in the navigation header. From the drop-down menu, click on Accounts.
Click on New Account in the right-hand corner.
Complete the New Account form:
- Account Code (required field)
- Account External Code (optional field)
- Account Type (required field)
  - Select option from drop-down menu
  - See below for a list of common Account Types
- Description (optional field)

Click OK to create your new account. The system will redirect you to the Account details screen where you can view/edit more specific information.

Common Account Types

Contains all revenue (royalty) dollars that are linked to an agreement
Revenue payments that come from both revenue/compliance invoices and sales royalties, etc. that have no invoices go into this account
If the deposit is related to an invoice, the invoice date on the line item will be the date the invoice was sent out of the system.
If the money received was not an invoice (like a sales royalty), the invoice date field should be the same as the journal date (the date the money was posted to the GL or the period).
If an allocation schedule is created in the agreement, Inventions will split the revenue received per the schedule.
If there is no allocation schedule, the payments will only be linked to the agreement unless the user manually indicates how the revenue should be allocated.

Contains all reimbursement deposits that have been received against the related agreement.
Payments posted in a reimbursement account may or may not have an associated invoice.
If the payment from the licensee is related to an invoice, the invoice date on the line item will be the date the invoice was sent out of the system.
If the money received is not related to an invoice, the invoice date field should be the same as the journal date (the date the money was posted to the GL or the period).
For every reimbursement that exists in Inventions, there should be one or more expense line items that contain the same invoice number.

The line items in each account represents payments that were made.
The invoice date on these items should be the same as the journal date of the revenue that is being distributed for consistency.
The distribution account types are set up based on the individual needs of the organization.
Typical accounts in this category include: College, Department, Inventors, Cost Recovery, Other Internal (Centers, Divisions, Labs, Funds, etc.), Other External (co-owners).

Revenue received is sometimes used to pay expenses prior to distribution.
From the distributions function, a value is provided to the user that is the variance for the sum of expenses compared to the sum of reimbursements for the technology and the patents linked to the technology.

Credits to other parties.
The payment accounts should have a line item that offsets the credits in the payment accounts.
While the payments can be searched and viewed by external parties, they are only used for informational purposes and are not used to reconcile the general ledger.

Used for recording expenses that are owed to law firms and other groups and are related to technologies and/or patents.

Used for recording payments made to other organizations for reimbursement of their patent expenses.
This account type should only appear on an agreement with a type that is Inter-Institutional – Non-Lead.
Expenses within accounts of this type are not billable to other IIA’s but are billable to licensees.