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Accounts Receivable Management: Difference between revisions
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'''Invoice:''' A UNMC-generated document provided to an entity describing the products/services provided, the amount due, and the requested date for payment.<br /> | '''Invoice:''' A UNMC-generated document provided to an entity describing the products/services provided, the amount due, and the requested date for payment.<br /> | ||
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[http://wiki.unmc.edu/images/9/9f/SampleInvoice.pdf Sample Invoice] | |||
==Policy== | ==Policy== | ||
Invoices are to be created using the Accounts Receivable (A/R) subsystem available within the UNMC Management Resources on-line application. Billers using the system submit their invoice detail online, assign a cost object and G/L account to the invoice for deposit purposes (posting to SAP), and attach supporting documentation as needed for the customer to process/remit payment to UNMC.<br /> | Invoices are to be created using the Accounts Receivable (A/R) subsystem available within the UNMC Management Resources on-line application. Billers using the system submit their invoice detail online, assign a cost object and G/L account to the invoice for deposit purposes (posting to SAP), and attach supporting documentation as needed for the customer to process/remit payment to UNMC.<br /> | ||
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Departments are responsible for generating accurate, timely invoices to external customers for non-sponsored receivables. | Departments are responsible for generating accurate, timely invoices to external customers for non-sponsored receivables. | ||
Sponsored Programs Accounting (SPA) is responsible for generating accurate, timely invoices to external customers for sponsored receivables.<br /> | Sponsored Programs Accounting (SPA) is responsible for generating accurate, timely invoices to external customers for sponsored receivables.<br /> | ||
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Other specific invoicing requirements may render the A/R subsystem not applicable/efficient for use. For example, contractual terms may require wording, terminologies, etc. that are unworkable with the current invoice template. These exceptions will be reviewed on a case by case basis by the Controller & Finance Cashier’s Offices.<br /> | Other specific invoicing requirements may render the A/R subsystem not applicable/efficient for use. For example, contractual terms may require wording, terminologies, etc. that are unworkable with the current invoice template. These exceptions will be reviewed on a case by case basis by the Controller & Finance Cashier’s Offices.<br /> | ||
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The standard payment term to be applied to invoices generated in the A/R subsystem is net 30 days. | The standard payment term to be applied to invoices generated in the A/R subsystem is net 30 days. | ||
===Exceptions=== | |||
As mentioned above, the A/R subsystem is not designed for internal (on campus) or intercampus charges. Examples would include UNMC departments billing each other (Phone Charges, Copy Charges, Dietary Tickets, etc.) and intercampus charges (UNO, UNL, UNK, etc.). Transactions that can be accounted for solely within SAP via journal entry are not applicable to the intent of what is invoiced via the A/R subsystem. | |||
==Entering Invoices Within Management Resources== | ==Entering Invoices Within Management Resources== | ||
Billers can obtain access to the A/R subsystem with a request to the [mailto:accountsreceivable@unmc.edu Finance Cashier’s Office]. Once accessed, billers can enter customer and contact information for invoicing purposes, with the ability to then submit invoicing details to approved customer/contacts. Administered by the Finance Cashier’s Office, the subsystem is monitored daily for newly entered customers and contacts. In addition, they review, generate, and mail submitted invoices as instructed by billers. <br /> | Billers can obtain access to the A/R subsystem with a request to the [mailto:accountsreceivable@unmc.edu Finance Cashier’s Office]. Once accessed, billers can enter customer and contact information for invoicing purposes, with the ability to then submit invoicing details to approved customer/contacts. Administered by the Finance Cashier’s Office, the subsystem is monitored daily for newly entered customers and contacts. In addition, they review, generate, and mail submitted invoices as instructed by billers. <br /> | ||