Click to review the below policies related to other revenue:

FIN-ACC-350: Accrual Accounting

Click the above link to review the Indiana University policy on accrual accounting. This policy outlines accrual accounting, how this impacts departments at Indiana University, and clarifies which method of accounting is required by the AICPA Audit Guide.

FIN-ACC-490: Non-Student (External) Accounts Receivable, Annual Write-off Report

Click the above link to review the Indiana University policy on non-student external accounts receivable and the annual write-off report. This policy clarifies the standards for accounts receivable. The above policy states that all university operations billing for goods or services to external customers are required to use the Kuali Financial System Accounts Receivable module, unless the organization has an independent accounts receivable system first approved by the campus and then by the Office of the Treasurer. Accounting records and reports must be prepared on the basis of accrual accounting for interim and year-end close. Review this policy for detailed information about the annual write-off report, the scope of the policy, the reason for this policy, detailed procedures, and common definitions around accounts receivable. Following this policy ensures compliance with Generally Accepted Accounting Principles and helps ensure internal controls are in place.

FIN-ACC-500: Write-Off Accounts

Click the above link to review the Indiana University policy on write-off accounts. This policy outlines that accounts receivable balances over 12 months old lacking current productive activity are to be written-off. Debts may be written-off prior to 12 months if they are coded as deceased, bankrupt, or if collection efforts have been exhausted. It is encouraged that delinquent non-student accounts be turned over to external collection agencies after all collection efforts have been exhausted by the department and by any respective campus office charged with collecting delinquent accounts. The purpose of this policy is to ensure that uncollectible monies are written-off in a timely and expeditious fashion. This policy applies to all auxiliary enterprises, student, and non-student receivable accounts. This policy specifically excludes accounts being administered by the Student Loan Administration.

FIN-TRE-120: Processing Revenue

Click the above link to review the Indiana University policy on processing revenue. Review this policy to understand the revenue processing system and the importance of standardizing revenue processing within Indiana University as a means to reduce the risk of fraud and/or loss while increasing the efficiency of its cash.

FIN-TRE-121: Establishing and Modifying Revenue Producing Activities (RPA)

Click the above link to review the Indiana University policy on establishing and modifying a revenue producing activity. A revenue producing activity is established when revenue is generated from the sale of products and/or services provided by the university and/or university employees. All new activities must be approved prior to accepting revenue. This policy is intended to provide procedures and guidelines for the establishment of revenue producing activities by IU departments, units, and individuals, consistent with the university mission and that of the unit generating the revenue. The purpose of this policy is to determine alignment with the mission and to standardize revenue processing within IU across similar functions with solutions characterized by strong controls to reduce the risk of fraud and/or loss while increasing the efficiency of its cash.