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Business and Financial Policies and Procedures

Documentation Requirements

The unit is responsible for maintaining the following documentation, which is to be available for review upon request. Paper copies or computer files may be used for documentation. General documentation must be maintained by the service facility as required by 22 Self-Supporting/Revenue Generating Activities - Keeping Self-Supporting Activities Records

General documentation includes:

  • Documentation of calculation of user fees and markups (including any facilities or equipment depreciation)
  • Documentation that the goods or services were provided (i.e., invoice, system tracking report, usage log, etc.) (see Recommended Documentation Procedures section below)
  • Journal vouchers documenting the customers billed
  • Calculation of over/under recovery of costs

Equipment documentation must be maintained for four years after disposition of the equipment item(s). This documentation includes:

  • Banner P-tag Code (Property Control Tag number)
  • Description
  • Disposition Date and Method (traded-in, scrapped, or cannibalized for parts)
  • Amount of gain or loss on disposition

The following information is recorded in Fixed Assets by the unit and should be kept current:

  • Condition/code
  • Responsible Organization code

Updates to the following attributes must be reported to University Property Accounting and Reporting for review and update:

  • Entity code
  • Disposal code

For further equipment documentation requirements see 12 Property Accounting.

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Recommended Documentation Procedures

An authorized requisition (or its equivalent) is recommended before providing goods or services. The requisition should include the goods or services provided, the date, the name of the user, the unit, and the accounting string charged. This documentation may be in the form of a paper or electronic work order, requisition, or stores/services voucher authorized by appropriate unit official, principal investigator, or delegate.

Goods should be issued upon one of the following:

  • Submission of an authorized requisition (or equivalent) which includes the goods requested, the date, the name of the purchasing unit, and the accounting string charged.
  • OR
  • Signature or authorization of the user or messenger receiving the goods.

Either a form or a log may be used as documentation that the goods or services were provided. The form or log may be a hard copy or electronic media.

No signature is required by the seller on campus stores/services vouchers between units. In submitting stores or services transactions to OBFS, the selling unit is certifying that the goods or services have been delivered, the purchasing unit's approval to charge the accounting string is on file, and the source of funds charged is appropriate for the expense.

Review and Error Corrections

The unit receiving the goods or services is responsible for a timely review of the charge, including the amount and accounting string charged. The unit charged is responsible for notifying the storeroom or service facility of any billing errors in a timely manner. The storeroom or service facility is responsible for promptly providing the unit with copies of the documentation supporting the charge and promptly crediting any improperly billed amounts.

Last Updated: May 18, 2018

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