ACCOUNTS RECEIVABLE

Abstract

Topic Financial Administration [1] Policy Number 300-11 Reviewed Date August 10, 2016 Responsible Office Office of the Senior Vice Chancellor, Finance and Administration [2] Purpose It is preferred that University departments accept payment before or upon delivery of a good or service. However, under certain circumstances, it may be necessary to provide a good or service prior to payment. This policy covers managing accounts receivable including granting of credit, invoicing, recording and reconciling the transaction in the financial records, collection efforts, and write-offs of delinquent accounts. Departments wishing to maintain their own accounts receivable must demonstrate the ability to comply with this policy. This policy does not pertain to hospital and sponsored research related receivables. Definitions Accounts Receivable