Chapter 2. Accounting Services
Section 2.11. Credit and Collections

2.11.4. Interaccount Bill

Interaccount Bill (IB): A form used as a source document for transferring charges and credits between department or project accounts.

An Interaccount Bill (IB) form is available from Accounting Services for use by all departments of the University, or can be found on the Web (refer to section 2.11.5. Instructions on How to Use the Web IB Form). Accounting Services will normally defer the posting of Interaccount Bills for two working days after receipt to allow for any challenge by the financial manager of the index being charged. Should such a challenge be issued, Accounting Services will defer posting of the document until the issues have been resolved between the two parties.

It is usually the financial manager of the account index to be credited that initiates the IB. To initiate an IB, do the following:

1. Complete an IB form, available from Accounting Services, with the following information:



1. Account index number(s) to be charged.



NOTE: Obtain from Accounting Services the name of the person in charge of the account index to be debited if that information is unknown.

2. Account code(s) for the transaction.



3. Account index number(s) to be credited.



4. The complete description of the reason for any charges/credits levied, and if for supplies, a complete description of the supplies with quantities, prices, etc., must be presented.



5. The name and address of person(s) to whom copies have been submitted.



6. The name and address of the person initiating the bill as well as that person’s signature.




2. Forward the original to Accounting Services and the duplicate to the financial manager of the account index to be charged.



3. Retain the triplicate copy of the Interaccount Bill for the department/ project as reference.