Accounts Payable

Accounts Payable is one of the primary functions provided by the Accounting Office. Our office audits and processes payments to vendors, students, faculty and staff.

General Accounting

The Accounting Office is responsible for maintaining the university's general ledger and preparation of the annual financial report in accordance with generally accepted accounting principles. The office is responsible for reconciling the general ledger and subsidiaries and other supporting documentation. University departments need to contact the Accounting Office to establish a new fund or project on the accounting system.

Asset and Debt Management

The Accounting Office is responsible for the university's cash and investment management; maintaining property, plant and equipment records; long-term debt records and compliance with bond indentures; assisting in refinancing or new bond issues; work with bond credit rating agencies.

Financial Reporting

The Accounting Office is responsible for providing university departments with the accounting information that is necessary for their management information purposes. This is done through either distribution of monthly accounting reports and providing on-line access to departmental accounting information.

Audits

The Accounting Office is the primary contact for the annual financial audit by the North Dakota State Auditors Office. Along with the Payroll Office, we are the primary contact for audits by the Internal Revenue Service. The university also has an internal auditor whose web site is currently under construction.

Taxes

The Accounting Office is responsible for the university's IRS form 1099 reporting. We prepare other tax returns for unrelated business income taxes (IRS form 990-T). We also prepare the North Dakota sales tax return and remit the taxes.

Other

The Accounting Office performs cost accounting studies, as required by federal and state regulations. We assist the university's Budget Director with preparation of annual and biennial budgets.