Receipts
Review this portion of the book for information surrounding receipts.
Understanding receipts at Indiana University is crucial because it details how financial transactions flow into the institution, impacting revenue recognition and IU’s overall financial health. The different forms of receipts, including cash, checks, wires, and credit card payments, must be properly documents and controlled to prevent errors or fraud. Internal controls surrounding receipts ensure accuracy and compliance with accounting standards. It is important to follow the accrual method of accounting at IU, meaning that even though a receipt is received, the funds do not automatically translate into revenue until it is properly recorded.
POLICIES
Review the below policies related to receipts:
- FIN-ACC-1: Role of Fiscal Officer, Account Manager, and Account Supervisor
- FIN-ACC-10: Ranking of Fiscal Officer, Account Supervisor, Account Manager, and Delegation of Signature Authority
- FIN-ACC-350: Accrual Accounting
- FIN-ACC-460: Depositing of Revenue for the Sale of Goods and Services at the IU Foundation
- FIN-ACC-470: Internal Controls
- FIN-ACC-650: Financial Compliance: Authority & Accountability
- FIN-TRE-100: Signature Authority and Delegation
- FIN-TRE-110: Accepting Electronic Payments
- FIN-TRE-120: Processing Revenue
- FIN-TRE-121: Establishing and Modifying Revenue-Producing Activities (RPA)
STANDARDS
Review the below standards related to receipts:
CHECKLISTS
There are no checklists related to this portion of the book at this time. Please check back in the future!
training materialS
Review the below training materials related to receipts:
Other Related MaterialS
Review the below other materials related to receipts:
- Reference Document: Information for Establishing IU as a Supplier
- Reference Document: Payment Processing Org Contact Information
IU financial system reports and procedureS
Review the below IU financial system reports and procedures related to receipts:
