FIS Accounts Receivable System. Accounts Receivable Defined Represents money which is owed to the...

FIS Accounts Receivable System

Accounts Receivable Defined Represents money which is owed to the

University from a customer for products and services provided to the customer on credit

Examples: any product sales, sponsorships, advertising, rent, conference registrations, Contracts & Grants

FIS Accounts Receivable module used to invoice external customers

Internal Billing or Service Billing used to invoice other IU departments

IU Policy I-490 IU departments billing for goods and services

MUST use FIS A/R unless pre-approved independent A/R system

A/R balances over 12 months old without productive activity are to be written off

Year end reporting requirements Total credit sales for the year June 30 Aged Receivable Report Write-off Report

Link to policy: http://www.indiana.edu/~vpcfo/policies/accounting/i-490.html

Introduction to the FIS AR System

Module in the FIS Non-Student Receivables Three docs – Invoice (INV), Credit Memo

(CRM), Customer (CUS) Accounting entries generated by system Payment received by the lockbox – no

payment handling

FIS A/R System UsesWho to bill?

External customers that pay by check, credit card or wire

Examples IU Foundation Conference registrations Outside entities

Who can use FIS AR? Any University dept that bills

outside entities Requirements:

FIS access Training by AR staff

Users: over 150 orgs including SPEA, Sch of Music, PARK, EDUC,

Motor Pool,

FIS AR Benefits Invoices are created in the

FIS and accounting entries are recorded in the General Ledger the next day

User friendly and accommodates sub-accounting

Campus processing organization applies all payments

Minimizes cash receipt points to comply with Treasury’s Revenue Processing Policy

Accepts cash, check, credit card and wire payments

Receivables are easily tracked through FIS and IUIE Reports

FIS AR Real Time Aged Receivable report

23,000+ customer base that

is increasing daily which can be auto-uploaded from departmental systems after transition to Kuali

Processing and Billing Orgs Processing Org

One for each campus using the AR system

Apply payments Reconcile clearing

accounts Set up new billing orgs

Billing Org Each department that

bills Print and mail invoices Monthly analysis of

receivables Responsible for

collection of invoices Write–off of un-

collectible invoices

FIS – Invoice Screen

Printed Invoice

IUIE AR Reports Invoice Summary – Listing of all invoices

open and paid for selected time period Aged Receivable by Customer or Chart-Org Invoice Payment History by Customer or

Chart-Org Customer Billing Statement – excellent

collection tool !!

More Information FIS A/R Web Page (next screen)

FIS A/R Training Class to be held in February or March – watch for e-mail announcement from FMS Training

A/R e-mail list is used for communicating information relevant to FIS Accounts Receivable system. Sign-up through FIS A/R web page after training.

FIS AR Web Page

http://www.fms.indiana.edu/ar/

Contacts on the Bloomington Campus

Accounts Receivable Supervisor

Kathy Cochard 855-8033 Accounts Receivable Coordinator

Martha Barnhill 855-5704 Contracts & Grants AR Contact

Tereasa West 855-7079