FIS Accounts Receivable System
Accounts Receivable Defined n n 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 n n n 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 n n n 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 n n n 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 Uses Who to bill? n n External customers that pay by check, credit card or wire Examples n IU Foundation n Conference registrations n 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 subaccounting 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 n Processing Org n n One for each campus using the AR system Apply payments Reconcile clearing accounts Set up new billing orgs n Billing Org n n n Each department that bills Print and mail invoices Monthly analysis of receivables Responsible for collection of invoices Write–off of uncollectible invoices
FIS – Invoice Screen
Printed Invoice
IUIE AR Reports n n 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 n FIS A/R Web Page (next screen) n FIS A/R Training Class to be held in February or March – watch for e-mail announcement from FMS Training n 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 n n n Accounts Receivable Supervisor Kathy Cochard 855 -8033 Accounts Receivable Coordinator Martha Barnhill 855 -5704 Contracts & Grants AR Contact Tereasa West 855 -7079
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