Policy and Procedure: 405-Deferred Revenue - Future Year Revenue

(Use policy and procedure only between February 1st through July 2nd each year)

Date: 07/07/15

Statement of Policy:

Deferred revenue accounting relates to revenue received from external parties only; not between UW-Madison Divisions or other University of Wisconsin campuses.

Examples include revenue received on or before June 30 for fall conferences, summer session tuition, tickets sales for a future fiscal year, prepayments for products yet to be delivered as of June 30, prepayment for services to be performed in a future fiscal year and down payments to be returned in a future fiscal year.

Who should know this policy?

Deans, Directors, and staff handling receipting related to future year activity.

Which form should be used?

Both forms are acceptable to be used. If you hav emore that 10 transfer lines please use the Deferred Revenue Jet Upload Template.

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