Reconciliation

Each IFR account receives the same basic monthly report package sent to State Purpose accounts. Special reports regarding revenue transactions are also sent to IFR account managers to aid them in administering their account(s). Account activity can also be monitored through system inquiry. Project records should match the official records of the University.

In addition to monitoring account transactional activity, the following items should be verified monthly by the project to ensure that account information is accurate. Any discrepancies should be resolved with the Accounting Office.

1. All deposits made during the month appear on the Cash Receipts Report.
   
   
2. All invoices for which the project has received the Yellow copy of the receipt appear on the Cash Receipts Report.
   
   
3. Departmental records of outstanding receivables should agree with the Accounts Receivable Status Report.