Transcript FIS Accounts Receivable System

Non-student (External)
Accounts Receivable System
NON-STUDENT A/R
Current A/R Processing Functions
• Decentralized system allows departments to manage
their own receivables
• Payments are sent to a lockbox which is processed
centrally
• Accounting entries are automatically generated through
Edocs which can be routed for approval or as an “FYI”
NON-STUDENT A/R
• Billing Organization:
Department that provides goods and/or services to external
customers. Responsible for creating and mailing invoices to
customers. Each Billing Organization reports to a Processing
Organization.
• Processing Organization:
Centralized unit that processes payments for Accounts Receivable
invoices created by one or more Billing Organization. Each
Processing Organization has a bank lockbox to which customer
payments are sent.
NON-STUDENT A/R
• A/R Processing Flow
– Billing Org generates & mails invoice
– “Remit to” address with tear strip is provided
with invoice
– Customer mails payment with strip to lockbox.
– Bank transmits funds to appropriate clearing
account sends paperwork to processing org
– Processing Org applies funds to invoice or
allocates to an account
NON-STUDENT A/R
• A/R DOCUMENTS
– Customer (CUS)—Billing or Proc Org
– Invoice (INV)—Billing or Proc Org
– Credit Memo (CRM)—Billing or Proc Org
– Cash Control (CTRL)—Proc Org
– Application (APP)—Proc Org
– Organization Options and Accounting
Defaults (OOPT & OADF) – Proc Org
Customer Document – FIS
Version
Routes for approval through central administration.
Customer History Inquiry – FIS
Version
Kuali Invoice Mockup
Kuali Credit Memo Mockup
NON-STUDENT A/R
• Cash Control Document (CTRL)
– Auto-generated by bank if check matched to
invoice
– Links deposit of funds in lockbox to App doc
– Routes to proper processing org
– CTRL does not create any general ledger
entries (App & Ref docs create entries)
– Works with various payment types:
• Cash
• Credit Card
Wire
Check
Kuali Cash Control Mockup
NON-STUDENT A/R
• Reference Document
– Creates general ledger entry for total amount of Cash Control Document
GL entry:
Cash (Proc Org)
Debit
Unapplied Cash (Proc Org)
Credit
– Type of document created is driven by the medium type
• Check = CR, Credit Card = GEC, Wire = DI, Cash = No ref doc created
• Application Document (APP)
– Applies funds and credit memos to invoices and can also designate
funds as “non-AR”
GL entry:
Unapplied Cash (Proc Org)
Debit
Cash (Proc Org)
Credit
Cash (Billing Org)
Debit
Accts Receivable (Billing Org)
Credit
Application Document – FIS
Version
Quick Apply – FIS Version
Apply Detail – FIS Version
Kuali Application Document
Mockup
Kuali Org Options Mockup
Kuali Accounting Defaults
Mockup
NON-STUDENT A/R
• A/R Functions
– On-screen Aged Customer Listing
– Customer Search
– Lockbox Processing
– Create Invoice Item Codes
– Print Invoices in Batch
NON-STUDENT A/R
Release 3.0 Enhancements
Data Enhancements
• (AR/H2) Convert Customer Data to KFS
A/R in bulk
• (AR/H3) Retrospective Aging Report
Statement (AR/H4)
(AR/H1) Additional enhancements to the body slated for Release 4.0
A/R Objt/Acct Flexibility
• Add an institutional setting:
– Permit the user to enter a receivable
accounting line on the invoice document, or
– Use the A/R object code from the Chart table
and the chart/account from the revenue
accounting line (traditional IU FIS behavior) or
– Set the A/R object code based on the Sub-fund
group of the revenue account (designated in
System Parameters)
Invoice-level receivable
Based on an
institutional
setting, a new
“receivable” tab
may be available
to the user.
Credit Memo
• Control enhancement
– Requires entry of the original invoice before
any processing allowed
• Streamline processing
Write-Off
• Augments existing batch write-off with
invoice-level write-off
Recurring Invoices
Enhancements After Release 3.0
Requested for Release 4.0
• Statement/Invoice design (1,400 hrs)
– Primarily to support extramural receivables
• Invoice feeding (1,000 hrs)
• Support for centralized collection activity (1,800
hours)
• Streamline of customer duplicate/overpayment
processing (700 hours)
• Tracking of memo “unbilled” amounts (400
hours)