Financial Services Procedure 7 – Departmental Sales Invoice

General

Form BANFIN-35, Departmental Sales Invoice, is utilized by departments, schools, and offices to bill for goods sold to and/or services performed for customers outside of the university.

Form BANFIN-35, Departmental Sales Invoice – Recording the Sale

Form BANFIN-35 initiated by the Academic and Administrative Departments as an invoice to bill for the sale of goods and/or services to customers who are not departments within the university.

(NOTE: Form BANFIN-33, Interdepartmental Invoice, is utilized for the sale of goods and/or services from one university department to another.)

The “INVOICE NO.” on Form BANFIN-35 is assigned by the department initiating the form. The invoice number is preceded by an acronym unique to the department. This acronym is designated by the Office of Services.

The department providing the goods and/or services completes all sections of Form BANFIN-35.

If the university is selling a tangible good to an outside party, then NC Sales Tax must be shown separately and charged at the current rate of 5%. This tax will be remitted to the North Carolina Department of Revenue by the Office of Accounting Services. Services are not taxable.

After completion of Form BANFIN-35, the department submits the original and duplicate to the customer, submits a copy to the Cashier’s Office, and retains a copy of the form for their records.

The customer transmits the duplicate of Form BANFIN-35 with his remittance to the Cashier’s Office. the department is responsible for reviewing its applicable funds and ensuring timely collection by each customer. As of June 30, each year, the department is responsible for preparing a list by invoice, invoice date, customer, and amount of all outstanding invoices. This lisst must be remitted to the Cashier’s Office and University Assistant Controller by July 15 to be included in the University’s financial statements.

Preparation of Form BANFIN-35, Departmental Sales Invoice

** TO BE COMPLETED BY CAMPUS VENDOR **

INVOICE NUMBER: The invoice number is preceded by an acronym unique to each department.

This acronym is designated by the Office of Accounting Services. If this invoice is to be a credit memorandum, enter the words “credit memo” below the invoice number.

DATE: Date of the billing transaction.

TO: Name and address of the customer being billed.

The customer must be outside the university. If the customer is within the university, refer to the procedures for the Interdepartmental Invoice.

DESCRIPTION/QUANTITY: Description and the quantity of goods and/or services that are being billed.

If this is a credit memorandum, enter either an explanation of invoice error or the description of the items returned. In addition, the original invoice number must be entered.

UNIT OF MEASURE/UNIT PRICE: Enter the unit of measurement for the goods/service being billed and enter the price per unit being charged.

EXTENDED PRICE: Quantity of item X unit price being charged.

SUBTOTAL: Sum of the extended prices.

SALES TAX: Enter the appropriate sales tax if the sale was a tangible item.

TOTAL AMOUNT DUE: Subtotal + Sales Tax.

FUND, ACCOUNT: Enter the fund number and account code which the monies are to be deposited to as revenues.

CUSTOMER NAME: Name of the customer being billed.

AMOUNT PAID: Fill in the amount that is to be paid, and the sales tax amount.

The customer then remits the payment and a copy of the Departmental Sales Invoice to the Cashier’s Office.