Procedure: 402-Revenue Accounting
Date: 05/31/02
Statement of Procedure:
Many departments have receipts and refunds because of the sale of goods and services, gifts, and grants. Cash receipts from a large variety of sources and for a wide range of purposes require that departments use proper accounting procedures. This chapter focuses on accounting procedures for cash receipts. Refer to the policy on revenue producing activities which includes instructions regarding revenue from non-University sponsored activities.
Related Policy:
Table of Contents:
- Definitions
- General Rule for Cash Receipts
- Exceptions to the General Rule
- General Program Revenue (GPR) Funds - Fund 101, etc.
- Auxiliary Enterprises - Fund 128, Activity 8
- Grants and Contracts - Funds 133,142,143,144
- Refunds of Expenditure
- Revenue Deposits
- Bursar Deposits
- Deposits to University Deposit Account - Bank Deposit Slips and Deposit Transfer Forms
- Six Part Invoice
- Extramural Support Transmittal Form
- Correction of Coding Errors
- Processing Refunds of Receipts/Sales Credits
- Setting up a Visa/MasterCard Operation
- Accounting for Sales Tax Collections
- Appendix 1 - General Rule for Coding
- Appendix 2 - Examples
- Appendix 3 - Coding for Prior Year Vendor Refunds (Checks)
- Appendix 4 - Tax Rates
Who should know this procedure?
Deans, Directors, and staff dealing with revenue.
Related Documents:
Receipts Deposit Form
Receipt/Sales Credit Deposit Form
Contacts: