Accounts Receivable Management: Difference between revisions

Accounts Receivable Management (view source)

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 *Retainage balances are exempted from this procedure
 ===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 for business, finance and business development for approval. The vice chancellor 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 for business, finance and business development for approval. The vice chancellor will determine if written off balances will be:
-:*Assessed service charges
+*Assessed service charges
-:*Turned over to campus legal counsel
+*Turned over to campus legal counsel
-:*Turned over to a collection agency
+*Turned over to a collection agency
-:*Retained by UNMC General Accounting Office
+*Retained by UNMC General Accounting Office
 ==Non-compliance==
 Payments received by UNMC outside of this policy (not invoiced via the UNMC Management Resources system) may not be recorded to departmental accounts in a timely manner. Complications arise when electronic payments are received with no supporting backup.