In this section of the accounting for expenses and payments book, we delve into process of accounting for payments to individuals at IU.

From honorarium payments to independent contractors, contest prizes, and research participant compensation, understanding the nuances of these transactions is crucial for maintaining financial transparency and accuracy. Not only do these payments impact operations at IU, payments to individuals also play a significant role in shaping IU’s income statement. By comprehensively analyzing the financial implications of these transactions, departmental units at IU can effectively manage their resources while adhering to regulatory standards and fulfilling their commitment to stakeholders.

POLICIES

Review the below policies related to payments to individuals:

• FIN-ACC-590: Expenditures: Gifts to Employees, Non-Employees, and Students
• FIN-ACC-630: Determination of Employee or Independent Contractor Status
• FIN-ACC-640: Expenditures: Incentives, Contests, Drawings, Games, and Prizes

STANDARDS

There are no standards related to this portion of the book at this time. Please check back in the future!

CHECKLISTS

There are no checklists related to this portion of the book at this time. Please check back in the future!

TRAINING MATERIALS

There are no training materials related to this portion of the book at this time. Please check back in the future!

OTHER RELATED MATERIALS

Review the below other materials related to payments to individuals:

• Form: Chrome River Non-Employee Traveler Supplier Form
• Form: Check Request Form

IU Financial SYSTEM REPORTS AND PROCEDURES

There are no IU financial system reports and procedures related to this portion of the book at this time. Please check back in the future!