How do I handle reporting Seller Account expenditures under an ISA?
Seller accounts (sometimes referred to as child account) under Interdepartmental Service Agreements (ISAs) will have the same appropriation and ARRA coding as the Buyer; therefore, all spending activity will roll up to the chart of account elements created upon appropriation set up. Therefore, it is critical that ISAs are signed prior to any ARRA obligations and the child accounts are established in time for all ARRA costs to be properly coded in the ISA accounts. Since MMARS has been designated as the central reporting system, all ARRA activity (including Higher Education Departments that provide or receive ARRA funds through ISAs) will be required to conduct all ARRA activity on MMARS.
Related Questions
- Since ISA accounts have the same 8 digit appropriation account number for both the seller (child) and the buyer (parent), does the seller account follow the Chart of Accounts methodology of the buyer?
- What if the delivered game account does not match the seller’s description in their For Sale Offer?
- How do I handle reporting Seller Account expenditures under an ISA?
