University Billings - Interdepartmental Transfer (IDT)
REG 07.30.05
Financial Reporting and Accounts Receivables
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Authority: Vice Chancellor for Finance and Business
History: First Issued: November 1, 2001.
Additional References: University Controllers Website
Contact Info: University Controller (919-515-3824)
1. Purpose
This Statement provides guidelines for departments processing bills to other
University departments or activities.
2. General Guidelines
All payments for materials or services between activities or departments
must be handled on Interdepartmental Invoices (IDT), or Service Unit Billing
Invoices. These forms are used by the Accounting Office to create journal
entries between the billing and customer departments.
The billing department is responsible for follow-up on unpaid invoices. The
billing and customer departments are responsible for keeping copies of all
billings and reconciling them to the departmental monthly transaction reports
(AM091).
3. Procedures
Billing units may elect to either obtain an account number to be charged
and approval prior to billing or send a bill to the customer department for
approval. In either case, the IDT should be the vehicle for the charge.
4. Form
Form JVS-7, Interdepartmental Transfer Invoice, may be purchased from Central
Stores.
5. Instructions for Completion of Form
5.1. Billing Department
5.1.1. Enter data the IDT is prepared.
5.1.2. Enter name and address of the billing department.
5.1.3. Enter name and telephone extension on individual who prepares forms.
5.1.4. Enter name and address of the customer department and provide name of
individual to receive IDT, if appropriate.
5.1.5. Enter description and cost of items(s) being charged.
5.1.6. Enter account to be credited. Only one account may be credited on each
IDT form.
5.1.7. Enter account(s) and amount(s) to be charged (applicable only when prior
approval and account number have been given for charges).
5.1.8. If prior approval obtained from customer:
1a. Send original (white copy) to Accounting.
1b. Keep billing copy (blue and/or pink) - an extra copy is provided.
1c. Send copy (goldenrod) to customer.
If prior approval has not been obtained from customer:
2a. Keep billing copy.
2b.Send all others to customer.
Customer Department (applicable when billings are sent to department
for approval)
5.1.9. Enter account(s) and amount(s) to be charged. The total amount must equal
the total charges shown at center portion of page.
5.1.10. Sign the IDT form to indicate approval for the charges.
5.1.11. Send original to Accounting.
