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Accounting procedures

ISRS Accounting procedures

Programs Involving Multiple Institutions

Recording Revenue

If two institutions are sharing tuition or other revenue from a program, the revenue should be divided between the institutions. If one institution collects the revenue, they must reduce the revenue when remitting to the other institution. The accounting entries are as follows:

Institution 1 - Collects Revenue (for example - tuition)

Institution 1 pays Institution 2 a portion of the revenue

Note: PV2 or PV3 must be used if paying from a state
treasury account to another state treasury account

Institution 1

Institution 2

Recording Expenses

see section on Reimbursements

If you have questions or comments please email us (accounting@so.mnscu.edu) or refer to the staff directory link at the top of this page for additional contact information.