Year-End Revenue Recognition and Reporting of Departmental Accounts Receivable

[Business Affairs Office News]

Good Morning,


Departments that sell products or provide services to non UO entities are required, by Generally Accepted Accounting Principles (GAAP), to recognize revenue and record accounts receivable when the products are shipped or the services are complete, not when the cash is received from the entity. Please read the instructions at http://ba.uoregon.edu/staff/accounts-receivable-non-student on how to do this on a continual basis or http://ba.uoregon.edu/staff/year-end-departmental-instructions-12#Accounts_Receivable for procedures on how to recognize the revenue at year end.


The entries detailed in the above procedures should be done before the close of period 12 on July 9th at 5:00 p.m. Please submit a detailed listing of accounts receivable to the Business Affairs Office by July 20th. An example of such a listing is athttp://ba.uoregon.edu/sites/ba/files/forms/yearendar.pdf . The total receivable on the listing should match the June 30, 2012 ending accounts receivable balance in Banner.


Please contact Bruce Abrahamson at 6-3032 or babraham at uoregon.edu<mailto:babraham at uoregon.edu> if you have any questions.


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