Transcript FIS Accounts Receivable System - Indiana University Bloomington

FIS Accounts Receivable
System
Accounts Receivable Defined
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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
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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
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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
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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?
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External customers that pay by
check, credit card or wire
Examples
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IU Foundation
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Conference registrations
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Outside entities
Who can use FIS AR?
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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
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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
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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
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Processing Org
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One for each campus
using the AR system
Apply payments
Reconcile clearing
accounts
Set up new billing orgs
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Billing Org
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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
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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
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FIS A/R Web Page (next screen)
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FIS A/R Training Class to be held in February
or March – watch for e-mail announcement
from FMS Training
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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
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Accounts Receivable Supervisor
Kathy Cochard 855-8033
Accounts Receivable Coordinator
Martha Barnhill 855-5704
Contracts & Grants AR Contact
Tereasa West
855-7079