CATS

FIN-ACC-I-460, Depositing of Revenue for the Sale of Goods and Services at the IU Foundation

• Deposit of Revenue to IU Foundation Form and Instructions

Things to Know:

Deposit of revenue to the IU Foundation to cover unallowable expenses in connection with workshops/conferences or other revenue producing activity.

Instructions for Depositing Revenue to IU Foundation:

• An IU account has been created to receive income and expense associated with a revenue producing activity; such as, conference/workshops or selling of products/services.
• An expense associated with the activity has being unallowable under the IU policy such as purchase of alcohol, this expense may covered through IU Foundation.
• Create and attach IUF Check Request payment or reimbursement with original receipts.
• Create a DV associated with the account that received the income for the activity.
• The DV will be used to transfer a portion of the revenue to the IU Foundation to cover only the unallowable expense.
• Once the DV is complete, print the document, attach to the receipt(s) and to theform that needs campus budget office approval.
• Complete the transfer approval form, attach all receipts and a copy of the DV together.
• Electronically send the DV on for appropriate routing.
• Send the documents to Rozzie Gerstman, Bryan Hall 212 for further review – which may include discussion with an RC fiscal officer otherwise the documentation will go on to Accounts Payable (Charles Sinex) for processing.
• On the DV always use object code 4026 and the reason of “reimbursement for out of pocket expenses.
• Note: Be sure to check the box for ATTACHMENTS. This alerts Accounts Payable to send supporting documents to IUF.