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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