This Section Is Currently Under Construction - Check Back in the Future!
Receipts flow to Indiana University through multiples sources, both internal and external, and can come in multiple forms such cash, check, wires and credit cards. Since IU follows the accrual method of accounting, just because there is a receipt, does not mean it is automatically recorded as revenue. This section will discuss the following topics:
- The different forms of receipts.
- The internal controls surrounding receipts to ensure proper recognition and accounting. This will include information on when entries are recorded and who has the ability to record, along with the review and approval process.
- The entries associated with entering receipts.
- Any other important information that users will need to know prior to receiving money.