Expense Refunds, Revenue Refunds, and Credit Memos

Directive Statement

Departments must ensure that monies received from suppliers, either in the form of expense refunds, revenue refunds, or credit memos, are processed accurately.

Reason for Directive

It is essential to distinguish between the three to ensure that the proper procedures are followed and the monies accurately accounted for.

Who must comply?

All University Departments.

Procedures & Best Practices

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