Accounting Office / Accounts Payable

Signatures are Required

As cash, gift certificates, or other property are distributed, the recipients must sign a form to acknowledge receiving the distributed property.

Research participants need to sign a Research Participant Receipt Form (RPRF). There are different RPRF forms, depending on whether the amount is less than $100.00, or $100.00 and above.

For recipients not participating in research studies, please use the Property Receipt Form.

Gift certificates are considered a cash equivalent, and must be handled and accounted for in the same method required for petty cash.


Retaining and Submitting Documentation - Property Purchased by Intramurals or Purchasing Cards

If the cash, gift certificates, or other property were purchased by intramurals or Purchasing cards, the RPRFs or Property Receipt forms must be retained by the department as supporting documentation for those charges.

Exception: Amounts of $100.00 and above require making a photocopy to be submitted to Bill Cahill in the Accounting Office, 3606 ASB, for tax reporting. Please include the ISU account number, reference number, and date, so that we can trace each RPRF or Property Receipt Form to the original accounting transaction.


Retaining and Submitting Documentation - Property Purchased by Petty Cash Advances

If the cash, gift certificates, or other property were purchased by means of a petty cash advance, the original RPRFs or Property Receipt Forms must be attached to the KFS document used to clear the advance.

  • If the expenses submitted are less than the petty cash advance, enter a Distribution of Income (DI) document for the amount of the expenses submitted. (Your department's account will be on the From side, and the petty cash account will be on the To side.) Do a Deposits Online transaction for the amount of unspent cash, using the same account number and object code used to issue the petty cash advance.

  • If the expenses submitted are exactly equal to the petty cash advance, submit a Distribution of Income (DI) document for the amount of the expenses submitted. (Your department's account will be on the From side, and the petty cash account will be on the To side.)

  • If the expenses submitted are greater than the petty cash advance, submit a Simple Disbursement Voucher payable to the person who needs to be reimbursed the extra amount. (Your department's account will be charged for the gross amount of the expenses submitted, and a credit will be given to the account number and object code used to issue the petty cash advance.) If cash is needed to replenish a petty cash fund, rather than to reimburse an individual, please use a Non-Check Disbursement instead of a Simple Disbursement Voucher.


Tax Reporting and Withholding

Distributed cash, gift certificates, and other property of $100.00 or above must be recorded as taxable income, which requires obtaining a Social Security Number and a permanent address on the form.

Non-resident aliens who receive taxable distributions of cash, gift certificates, or other property can be subject to 30% withholding for federal taxes, unless certain conditions are met. Please contact Bill Cahill (294-5124) or Carole Gill (294-5181) before distributing property to non-resident aliens, as your department's funds will be responsible for any required withholding.



This page was last updated on August 16, 2016.



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