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Non-student (External) Accounts Receivable System

Non-student (External) Accounts Receivable System. NON-STUDENT A/R. Current A/R Processing Functions Decentralized system allows departments to manage their own receivables Payments are sent to a lockbox which is processed centrally

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Non-student (External) Accounts Receivable System

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  1. Non-student (External)Accounts Receivable System

  2. NON-STUDENT A/R Current A/R Processing Functions • Decentralized system allows departments to manage their own receivables • Payments are sent to a lockbox which is processed centrally • Accounting entries are automatically generated through Edocs which can be routed for approval or as an “FYI”

  3. Billing Organization: Department that provides goods and/or services to external customers. Responsible for creating and mailing invoices to customers. Each Billing Organization reports to a Processing Organization. Processing Organization: Centralized unit that processes payments for Accounts Receivable invoices created by one or more Billing Organization. Each Processing Organization has a bank lockbox to which customer payments are sent. NON-STUDENT A/R

  4. NON-STUDENT A/R • A/R Processing Flow • Billing Org generates & mails invoice • “Remit to” address with tear strip is provided with invoice • Customer mails payment with strip to lockbox. • Bank transmits funds to appropriate clearing account sends paperwork to processing org • Processing Org applies funds to invoice or allocates to an account

  5. NON-STUDENT A/R • A/R DOCUMENTS • Customer (CUS)—Billing or Proc Org • Invoice (INV)—Billing or Proc Org • Credit Memo (CRM)—Billing or Proc Org • Cash Control (CTRL)—Proc Org • Application (APP)—Proc Org • Organization Options and Accounting Defaults (OOPT & OADF) – Proc Org

  6. Customer Document – FIS Version Routes for approval through central administration.

  7. Customer History Inquiry – FIS Version

  8. Kuali Invoice Mockup

  9. Kuali Credit Memo Mockup

  10. NON-STUDENT A/R • Cash Control Document (CTRL) • Auto-generated by bank if check matched to invoice • Links deposit of funds in lockbox to App doc • Routes to proper processing org • CTRL does not create any general ledger entries (App & Ref docs create entries) • Works with various payment types: • Cash Wire • Credit Card Check

  11. Kuali Cash Control Mockup

  12. NON-STUDENT A/R • Reference Document • Creates general ledger entry for total amount of Cash Control Document GL entry: Cash (Proc Org) Debit Unapplied Cash (Proc Org) Credit • Type of document created is driven by the medium type • Check = CR, Credit Card = GEC, Wire = DI, Cash = No ref doc created • Application Document (APP) • Applies funds and credit memos to invoices and can also designate funds as “non-AR” GL entry: Unapplied Cash (Proc Org) Debit Cash (Proc Org) Credit Cash (Billing Org) Debit Accts Receivable (Billing Org) Credit

  13. Application Document – FIS Version

  14. Quick Apply – FIS Version

  15. Apply Detail – FIS Version

  16. Kuali Application Document Mockup

  17. Kuali Org Options Mockup

  18. Kuali Accounting Defaults Mockup

  19. NON-STUDENT A/R • A/R Functions • On-screen Aged Customer Listing • Customer Search • Lockbox Processing • Create Invoice Item Codes • Print Invoices in Batch

  20. NON-STUDENT A/R Release 3.0 Enhancements

  21. Data Enhancements • (AR/H2) Convert Customer Data to KFS A/R in bulk • (AR/H3) Retrospective Aging Report

  22. Statement (AR/H4) (AR/H1) Additional enhancements to the body slated for Release 4.0

  23. A/R Objt/Acct Flexibility • Add an institutional setting: • Permit the user to enter a receivable accounting line on the invoice document, or • Use the A/R object code from the Chart table and the chart/account from the revenue accounting line (traditional IU FIS behavior) or • Set the A/R object code based on the Sub-fund group of the revenue account (designated in System Parameters)

  24. Invoice-level receivable Based on an institutional setting, a new “receivable” tab may be available to the user.

  25. Credit Memo • Control enhancement • Requires entry of the original invoice before any processing allowed • Streamline processing

  26. Write-Off • Augments existing batch write-off with invoice-level write-off

  27. Recurring Invoices

  28. Enhancements After Release 3.0

  29. Requested for Release 4.0 • Statement/Invoice design (1,400 hrs) • Primarily to support extramural receivables • Invoice feeding (1,000 hrs) • Support for centralized collection activity (1,800 hours) • Streamline of customer duplicate/overpayment processing (700 hours) • Tracking of memo “unbilled” amounts (400 hours)

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