2,654
edits
Accounts Receivable Management: Difference between revisions
Jump to navigation
Jump to search
no edit summary
mNo edit summary |
No edit summary |
||
| Line 28: | Line 28: | ||
Effective Date: '''09/26/13'''<br /> | Effective Date: '''09/26/13'''<br /> | ||
Revised Date: '''DRAFT'''<br /> | Revised Date: '''DRAFT'''<br /> | ||
Reviewed Date: '''07/ | Reviewed Date: '''07/20/16'''<br /> | ||
<br /> | <br /> | ||
<big>'''Accounts Receivable Management Policy'''</big> | <big>'''Accounts Receivable Management Policy'''</big> | ||
| Line 72: | Line 72: | ||
*greater than 180 days – A/R will send a revised invoice with service charges to vendor | *greater than 180 days – A/R will send a revised invoice with service charges to vendor | ||
:*Invoices outstanding greater than 180 days will be assessed service charges at the rate of 16% per annum from the invoice due date | :*Invoices outstanding greater than 180 days will be assessed service charges at the rate of 16% per annum from the invoice due date | ||
===Write-off of Delinquent Balances=== | ===Write-off of Delinquent Balances=== | ||
*Delinquent balances greater than 240 days will be written off from the A/R system. Write-offs must be submitted to the Vice Chancellor of Business and Finance (VCBF) for approval. The VCBF will determine if written off balances will be: | *Delinquent balances greater than 240 days will be written off from the A/R system. Write-offs must be submitted to the Vice Chancellor of Business and Finance (VCBF) for approval. The VCBF will determine if written off balances will be: | ||