Accounts Receivable |
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Sales Transactions
Intramural Sales.
When an ISU fund account (selling department) sells services and/or products to another ISU fund account, the transaction, termed an intramural sale, is recorded within the ISU accounting system by monetary transfers between the ISU fund accounts.
Extramural Sales.
When an ISU fund account (selling department) sells services and/or products to any customer other than an ISU fund account, the transaction is termed an extramural sale. It is required that extramural sales to the general public, staff, and/or students be made on a charge basis through the centralized University Receivable System. The head of the selling department has primary responsibility for approving any extension of credit. The University Receivable Office is responsible for collection of any delinquent accounts due the selling department.
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