Does your unit sell goods or services? If so, follow the guidelines below to help ensure proper financial reporting:
- Sales proceeds must be credited to an appropriate revenue account code (not an expense account code).
- Sales proceeds must be credited to an appropriate fund type (such as a self-supporting fund, service plan fund, or gift fund).
- The appropriate fund type will vary depending on the nature of the sale.
- Sales proceeds cannot be credited to State or ICR funds.
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For further questions, refer to UAFR’s Who to Ask list.