A-to-Z Index

4225 - Revenue Refunds

Effective Date:  November 15, 2011

Table of Contents:

    .100 General
    .200 Control Responsibilities
       .210 University Business Office
       .220 Department
    .300 Processing Procedures
       .310 Department
       .320 University Business Office
    .400 Form Preparation and Submission
       .410 Revenue Refund Voucher
          .411 Required
          .412 Where to Obtain Blank Forms
          .413 Number of Copies
          .414 Where to Send Completed Forms
          .415 Form Preparation Instructions

.100 General

This section addresses the responsibilities and procedures for refunding state and local funds to individuals and businesses after the funds have been deposited and recorded in the University Financial Information System. Revenue refunds are usually necessary to correct overpayments or to return improper collections to the appropriate source.

.200 Control Responsibilities

.210 University Business Office

  • Authorizes departments to approve and process revenue refunds.
  • Provides departments with forms and instructions for processing revenue refunds.
  • Provides departments with specific instructions when large numbers of refunds are needed simultaneously.
  • Ensures the timely processing and recording of the transactions in the State and University Financial Information Systems.

.220 Department

  • Complies with this procedure when authorized by the University Business Office to initiate and process revenue refunds.
  • Maintains appropriate documentation to support receipt of revenue and justification for a refund of revenue.
  • Prepares appropriate forms and submits them to the University Business Office or to the Accounts Payable Office for processing (See subsection .414).
  • Contacts the University Business Office for procedures if necessary to process large numbers of refunds simultaneously.
  • Ensures that the individual that approves the refund does not have physical access to the checks when received by the department for distribution.
  • Establishes adequate procedures to ensure the propriety of all requested refunds.

.300 Processing Procedures

.310 Department

  • Requests authorization from the University Business Office to process revenue refunds.
  • Maintains documentation verifying receipt and deposit of revenue and justification for any refund.
  • Prepares and submits appropriate forms in accordance with instructions in subsection .400 of this section.
  • Maintains copies of submitted forms for departmental records.

.320 University Business Office

  • Authorizes departments to approve and prepare revenue refunds, when appropriate.
  • Provides authorized departments with appropriate forms and instructions.
  • Reviews submitted forms for completeness, accuracy, and propriety.
  • Processes transaction documents to generate a refund check.
  • Records transaction in the University Financial Information System.

.400 Form Preparation and Submission

This subsection outlines the form preparation and submission procedures for revenue refunds.

.410 Revenue Refund Voucher – use the Standard Accounting Voucher

.411 Required

The University requires this form to refund monies to individuals or businesses after the original revenue has been deposited and recorded in the University Financial Information Systems.

.412 Where to Obtain Blank Forms

Blank forms are available online.

.413 Number of Copies

2 copies are needed.

.414 Where to Send Completed Forms

Send the original form, with supporting documents to the University Business Office if an authorizing signature is needed or send to Accounts Payable if the department has signatory authority for the Department number entered on the form. Retain the second copy with the department's backup documentation.

.415 Form Preparation Instructions

Following are detailed instructions for the preparation of the Accounting Voucher. Enter the following information only; all other areas should be left blank.
Print a copy of an accounting voucher (with numbers to coincide with the instructions) to assist you with completing your voucher. For International Wire of Foreign Currency sample, click here. For sample of foreign wire of US Dollars, click here

#1 - Agency Name/Delivery Address: Enter the name and address of the department being charged.

#2 - Vendor Information: Enter the Vendor’s name, Address, City, State, and Zip Code. Enter the Federal Identification Number of the vendor, including the suffix or the Social Security Number of the individual being paid. Enter the Peoplesoft Vendor number, if known. For services provided by individuals not employed by James Madison University, a completed W-9 form must be on file before a payment is processed. Contact System Support @ x82941 to determine if the W-9 form is on file.

For International Wires, the Vendor Information section should be completed as follows:

Name - JMU
Address - PK to Cash & Investments
PeopleSoft Vendor # - 5432.5 remaining fields left blank.

#3 - Date Voucher Prepared: Enter the date the voucher was prepared.

#4 - Contact Person: Enter the name of the person to call if questions arise.

#5 - MSC: Enter the Mail Stop Code (MSC) for the department preparing the voucher.

#6 - Phone No.: Enter the telephone number of the person to call, if questions arise.

#7 - Vendor Invoice: Enter the vendor's invoice number. Only 1 invoice number may be paid on this form. If no invoice # is present, enter a "meaningful" short description which will appear on the check advice.

#8 - Invoice Date: Enter the date of the vendors invoice.

#9 - P. O. No.: Enter the number of the Purchase Order, if applicable, or the Travel Authorization Number, if applicable.

#9a - eVA exclusion #: Select the exclusion number from the "pulldown" box (by using the "arrow" to display your selections) that matches the allowable, excludable items/categories that do NOT need to be procured through the eVA Procurement System.

#9b - Non-eVA purchase explanation Provide an explanation of non-eVA purchase if no exclusion # is provided in #9a.

#10 - Approving Signature and Date Signed: Enter the signature of the individual responsible for the departmental budget being charged. This signature must be an approved one on the Signature Authorization Listing maintained by the Office of Finance. The signature attests that the goods and services were received in good condition. Enter the date the individual signed as "approving signature".

#11 - Description: Enter a complete description of each item or service provided.

For International Wires, the description field must include all of the following:
beneficiary bank name
            beneficiary bank address
            beneficiary bank branch and address/number (if applicable)
            beneficiary account number
            the exact name of the beneficiary account
            the purpose of the wire
            the amount to be wired
            the type of currency the payment is to be made in
The SORT and/or SWIFT code(s) or IBAN must also be included in this space.

#12 - Quantity: Enter the quantity received.

#13 - Unit Price: Enter the price for each unit received.

#14 - Amount: Enter the amount. (Leave blank for international wires - Cash & Investments will complete after wire is finalized.)

#15 - Department ID #: Enter the Departmental ID Number.

#16 - Acct. #: Enter the expenditure account code that best describes the goods or services provided.

Total Amount: All total amounts are calculated. (Both places on the form)