ACCOUNTS RECEIVABLE BILLING AND MONITORING
Effective:  6/1/2008
Revised:  6/1/2008
Review Date:  6/1/2008
Related Procedure

Policy

Clemson University will collect payment for goods and services in a timely manner. University Departments that extend credit by invoicing will use the university's Billing and Accounts Receivable System or another pre-approved billing and accounts receivable system to allow prompt collection and accurate reporting of the University's accounts receivable transactions. Invoices should be entered into the system in a timely manner.

Discussion

The University Accounts Receivable Office is responsible for monitoring, processing and recording the collection of
all payments due the University for goods or services rendered by departments. The billing processes of all departments that extend credit are subject to the review and approval of the Chief Financial Officer or his designee through Accounts Receivable.

All approved departments must use the CUBS web invoice as a standard invoice. Attachments may be included with the standard invoice as deemed appropriate by the billing department.

No invoices less than $10 will be issued. Departments with charges less than the minimum amount should require payment at the time the goods/services are provided, create a minimum order amount, or accumulate charges for a specific customer until the minimum amount is reached.

Interdepartmental invoicing through the receivable process is not permitted. All interdepartmental transactions resulting from providing goods and services to University departments are to be processed by Interdepartmental Orders (IDO).

When an account is deemed uncollectible, approval to write-off the outstanding debt must be obtained from the Comptroller. This will be coordinated by Accounts Receivable after all normal collection actions have been taken. Departments will be notified by Accounts Receivable of all pending write-offs. Upon execution, the write-off will offset previously accrued departmental revenues associated with the uncollectible invoices.

High volume departments with established subsystems may be authorized by the Chief Financial Officer or his designee through Accounts Receivable to process and collect their own invoices. However, these departments will provide a quarterly summary (as of September 30, December 31, March 31, and June 30) of aged accounts receivable and a report on collection efforts for past due accounts to the University's Accounts Receivable Office. These departments must follow the same general collection procedures that are followed by Accounts Receivable.

The University Accounts Receivable Office will periodically monitor departmental accounts receivable processes to assure the prompt collection of payments, accurate accounts receivable reporting, and adherence to University policies and procedures.