Tips and Tricks for the Accounts Receivable Feed to Finance

Presented by: Richard “Rick” Gerry, Finance ConsultantAntonio Trepesowsky, Student Consultant

Session Goal

The goal of this session is to provide you with knowledge and information regarding:• Best Practices of Feeding AR

Transactions

• Additional Tips and Tricks for AR to Finance

• Parent Plus Loans

Agenda

Best Practices of Feeding AR Transactions:• Past Method• Current Method

Additional Tips and Tricks:• Void Refund Detail Code• Third Party Payment Portals• Population Selection needed with Un-

application of Payment Process (TGRUNAP)• Exemption processing with distinct Contra-

Revenue FOAPParent PLUS LoanQuestion and Answers

Best Practices of Feeding AR Transactions

Past Method

Current Method

Best Practices of Feeding AR Transactions

Past Method• Cashier Session Review (TGACREV)• Automatic Cashier Session Process (TGRCLOS)• Cashier Detail Report (TGRCSHR)• Cashier Supervisory Form (TGACSPV)• Application of Payments Process (TGRAPPL)• Accounting Feed Process (TGRFEED)• Aging Analysis Report (TGRAGES) X 2 • Exclude the students with zero dollar accounts by

adjusting the min and max amounts.

Best Practices of Feeding AR Transactions

Past Method (Continued)• AR Reconciliation Report (TGRRCON)• Finance Accounting Feed Process

(FURFEED)• Refund Interface Process (FURAPAY)• Finance Interface Process (FGRTRNI)• Transaction Error Report Process

(FGRTRNR)• Posting Process (FGRACTG)

Best Practices of Feeding AR Transactions

Past Method (Continued)• Why is this method no longer accurate?

• Un-application of payment is not addressed.

• No longer does un-application of payment in mass undue everything in accounting.

• With the greater importance of Title IV refunds, application of payment needs to be accurate.

• Student Accounts needs to be unapplied.

Best Practices of Feeding AR Transactions

Past Method (Continued)• Why is this method no longer accurate?

• Financial Aid repackaging is ignored at the end of the day.

• Does not allow for final apply credit mode of TSRCBIL before application of payment is run.

• TGRRCON now has the G/L reconciliation on the report.

Best Practices of Feeding AR Transactions

Current Method• Cashier Session Review (TGACREV)• Cashier Detail Report (TGRCSHR)

• Cashiers run this to aid them to balance their session.

• Cashier Supervisory Form (TGACSPV)• Registration Fee Assessment Process (SFRFASC)

• Run for all active terms• Batch Room/Meal/Phone Assess Report

(SLRFASM) • Run for all active terms

Best Practices of Feeding AR Transactions

Current Method (Continued)• Disbursement Process (RPEDISB)

• Run for all active financial aid years• Application of Payment (TGRAPPL)• Student Billing Statement (TSRCBIL)

• Run in APPLYCRED mode for all active terms

• Population Selection Extract (GLBDATA)

• See Additional Tips on Population Selection needed

• Un-application of Payment Process (TGRUNAP)

• Run in mode (B)oth select and un-apply

• Always automatically un-apply

Best Practices of Feeding AR Transactions

Current Method (Continued)• Application of Payment (TGRAPPL)• Cashier Session Close (TGRCLOS)

• Used to close sessions that do not contain cash transactions.

• Set the detail category code exception to CSH for cash, checks, and credit cards and set Deposits and Miscellaneous to “Y”.

• Recommend running before Midnight so it will correspond with your Bank Statement.

Best Practices of Feeding AR Transactions

Current Method (Continued)• Accounting Feed Process (TGRFEED)• Aging Analysis Report – (TGRAGES)

• Use min account balance -999,999,999.99• Use max account balance 999,999,999.99• Run it as of today

• A/R Reconciliation Report (TGRRCON)• Run as soon as TGRAGES has been submitted

– Key!• Leave Starting and Ending dates blank

Best Practices of Feeding AR Transactions

Current Method (Continued)• Cashier Detail Report (TGRCSHR)

• Always update finalized cashiers to R• Finance Sweep Process (FURFEED)• Refund Interface (FURAPAY)• Interface Process (FGRTRNI)• Transaction Error Report (FGRTRNR)• Posting Process (FGRACTG) • A/R Reconciliation Report (TGRRCON)

• (Optional) G/L is updated with the posted feeds

Additional Tips and Tricks

Void Detail Codes

Third Party Payment Portals

Population Selection needed with Un-application of Payment Process (TGRUNAP)

Exemption processing with Distinct Contra-Revenue FOAPALS

Additional Tips and Tricks

Void Detail Codes• Required if refunds are voided • Recommend not to use a negative RFND refund code

• Creates a credit memo which can lead to a zero dollar check situation requiring SQL to mark as paid

• Decide if you want them to be a negative charge or a payment• If a charge - set up the accounting like RFND• If a payment - switch line A and B of the RFND

Additional Tips and TricksThird Party Payment Portals

• For Web Payment transaction• Current Method: Load into TBRACCD with a

TBRACCD_FEED_IND = ‘Y’• New Method:

• Load into TBRACCD with a TBRACCD_FEED_IND = ‘N’• Develop script to mass update ‘N’ to ‘Y’ for all

transaction which is part of bank reconciliation• This approach lets you always keep the web payment

portal active.

Additional Tips and Tricks

Population Selection needed with Un-application of Payment Process (TGRUNAP)

Additional Tips and TricksExemption processing with Distinct Contra-Revenue FOAPALS

• Application of payment will use cross-reference data (as seen on TSADETL) to associate Exemption waiver detail codes to Account charges

• If Exemption rules are defined using detail code logic (rather than source or category), then the application of payment records will have all the necessary information

• FHDA has developed a process to extract that information and feed it into Finance using FUPLOAD as part of the nightly feed.

Parent PLUS Loans

Refunds

Parent PLUS Loans

• Released in Banner 8.0

• Allows refunds to be released to the parent if the refund was the result of a PLUS refund and the parent did not authorize the refund to the student.

• Unique refund detail code in TSADETC with a P (Parent Plus) in the Refund Code field

Parent PLUS Loans (Continued)

• Fund codes established on the Fund Base Data Form (RFRBASE) with the Federal Fund ID equal to PLUS must have the Direct Loan Indicator, Electronic Loan Indicator, or Manual Loan Indicator set to an appropriate value on the Fund Management Form (RFRMGMT). Parent refunds are created only when the value is P (Parent PLUS).

Parent PLUS Loans (Continued)

• For the refund to go to the parent, do not select the Parent PLUS to Student indicator on the Direct Loan Origination form (RPALORG) for direct loans, the Electronic Loan Application form (RPAELAP) for electronic loans, or the Loan Application form (RPALAPP) for manual loans.

• Be sure to provide a complete and accurate mailing address for the parent with the loan record on the Direct Loan Origination form (RPALORG), Electronic Loan Application form (RPAELAP), or Loan Application form (RPALAPP).

Parent PLUS Loans (Continued)

• Auto Refund Credit Amt-Student (TSRRFND) PLUS refunding is enabled if an active detail code exists on TSADETC/TFADETC with Refund Code set to P.

• Each PLUS credit is handled independently. If there is more than one credit (due to multiple borrowers or multiple disbursements of a loan received together), multiple refund transactions will be created.

Questions and Answers