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Refunds and Reimbursements

Refund of Participation Fees

Refunds of participation fees are recorded as reductions to revenues already received. Refunds paid during the same fiscal year in which a program or event will take place are recorded in 5886. Refunds paid in the current fiscal year for a program or event which will take place in the next fiscal year are recorded in 2490.

How to Process a Payment to be Charged to a Revenue Code

A revenue code is charged when a refund is made to an individual or organization from which Baylor University previously received income. An example is the refund of a program fee originally paid to Baylor by a student who later declined to participate in a study abroad program.

A transaction for an amount less than $5,000 should be processed on a PeopleSoft voucher by the requesting department.

A transaction for an amount of $5,000 or greater should be processed by the submission of a request to Accounts Payable so that a PeopleSoft voucher may be prepared for the requesting department. Sufficient explanations, justification and supporting documentation, as well as authorized departmental approval must be submitted.

Reimbursements

A reimbursement to Baylor should be recorded in the account where the actual expenditure was recorded.

Examples include:

  • Personal long distance phone calls reimbursed to 9376.
  • Overpayment of student group travel arrangements reimbursed to 9389.