The accounting for the Dowdy Student Stores is performed in the store, and the accounting records for the store are kept in the Wright Building.
All monies due on receivable accounts are paid to the order of the Dowdy Student Stores. All claims for monies due other parties by the Dowdy Student Stores should be addressed to Student Stores accountant for payment.
Cost of Purchases
When merchandise is picked up at either Student Store location, the charge tickets are to be signed by the authorized department representative. At the time of billing, all items are extended at retail prices and are then discounted ten percent, except computer software and books, which are sold at retail price.
Statements are produced monthly reflecting the merchandise purchased from the Dowdy Student Stores. A statement for each department on a purchase order is produced every month for the Accounts Payable Department which lists the purchases for that department giving the date, charge ticket number and the total amount of each purchase. This is sent to the Accounts Payable Department for payment, along with a copy of each signed charge ticket which lists the quantity, description, unit price and extended price. Standing order charges are charged on an interdepartmental transfer to the ten-digit account number given at the time of purchase.
Any questions pertaining to accounting matters should be discussed with the personnel in the accounting department.