Student Stores (STU)
POLICY 1
Effective Date: 07/01/1996
Last Modified Date: 02/10/1997
Accounting
All accounting records of the Student Stores are kept within the Accounting Department of Student Stores in the Daniels Building or within its designated warehouse location.
Cost of Purchase
Books are sold at publisher's list price and special order furniture is billed at State contract price. Sales tickets show the original price, discount, tax, and a ticket total. When computer sales tickets cannot be produced, a handwritten charge ticket will be made out which shows only the list price of each item; discounts, tax, and total will appear on the monthly statement.
Billing
Monthly statements reflect the merchandise purchased by each department from the Student Stores. Items are listed by business date, with sales or charge ticket number (store reference) and requisition number (customer number) if any. A "C" following a requisition number indicates that the requisition has been completed. The items on each ticket are then listed, with a summary line showing the Student Stores selling department, University object number, ticket total, and balance due for the month.
Payment
For University departmental customers, these statements are paid and posted automatically to the designated account and object number(s) by University Accounts Payable. Any problems or questions concerning a statement should be directed to the Student Stores Accounts Receivable Office.
Monies
All monies due on non-departmental (e.g., NC Hospitals, student groups) receivable accounts are paid to the order of Student Stores, and presented to the Student Stores accountant. All claims for monies due other parties by the Student Stores should be addressed to the Student Stores accountant for liquidation.
FBM090/91
Each statement and invoice total will appear on the monthly FBM090/91 reports distributed to each department, and will be charged to the account number indicated by the department on the sales or charge ticket or Purchase Requisition. No departmental action is necessary to effect payment.
Scholarships
Student Stores realizes profits on sales to students and faculty members. These earnings are used to provide scholarships and grants to qualifying University students.
Questions
Questions regarding specific billings to University accounts should be discussed with the Student Stores Accounts Receivable Office (962-2412).
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