accounts receivable and billing (arb) presenters: debbie talley [email protected] financial...
TRANSCRIPT
Accounts Receivable and Billing(ARB)
Presenters: Debbie Talley [email protected] Operations Sponsored Programs Supervisor of Fund Requests and Collections
Mary Byrkit [email protected] Financials CPUApplication Manager for GL, AR and Billing
2Agenda
ARB Benefits
ARB Business Process
ARB key concepts and terminology
Walkthrough of month-end ARB reports See handouts of report samples
3ARB Benefits Invoices and payments are posted daily to the
General Ledger.
Reduced billing time improves cash flow.
Integration with other M-Pathways modules improves processing and reporting.
Revenue is distributed directly to parent and sub Project/Grants based on their expenditures.
Managers of sub Project/Grants can directly monitor their Account Receivable activity.
4ARB Business ProcessInvoice Sent – Full Payment Received
General Ledger Land
Invoice
Dept Central AR
Accounts Receivable Land
General Ledger:
• Dept receives revenue (credit)
• Receivable increased (debit)
Customer
General Ledger:
• Cash increased (debit)
• Receivable decreased (credit)
Submits Invoice Pays
Invoice
Books Payment
BooksInvoice
MailsInvoice
5ARB Business ProcessInvoice Sent – No or Partial Payment Received
General Ledger Land
InvoiceDept Central AR
Accounts Receivable Land
General Ledger:
• Dept receives revenue (credit)
• Receivable increased (debit)
Customer
Submits Invoice
BooksInvoice
MailsInvoice
Attempts to receive payment:
• Corresponds with Customer• Works with Collection Agency
Still possible to collect ?
Yes
No
No/incomplete payment
General Ledger:
• Determine appropriate ChartFields for write off
• General: ShortCode on Invoice charged (debit)
• Sponsored: Billing P/G initially charged (debit) Transferred to Department discretionary ChartFields
• Receivable decreased (credit)
Write Off AR Item
6ARB Key Concepts & Terms AR/Billing Business Units
GNREC, GNPAY, GNMER, GNLNS
Customers General Receivables: Customer ID = GN12345
Invoices (Billing module) Invoice = Bill
Department invoices: 6-digit number (e.g. 123456)
Items (Accounts Receivable module) Item = Invoice
Open item converted from legacy to ARB: 6-digit legacy item number
7ARB Reports Three new reports:
SOA AR/BI Detail (new) Provides invoice detail for the billing journals on the
SOA.
Statement of Receivables (enhanced) Shows the open Accounts Receivable items and the
transactions (e.g. payments) affecting the balance for those items.
Aging Report (new) Displays the number of days the invoice has been
outstanding for open Accounts Receivable items.
8ARB Reports
Navigation in FinODS Go / Reports / AR Reports SOA AR/BI Detail is also accessible the via GL
Reports menu.
The reports can be run by Fund/Department/Program or Project/Grant
See separate handout with sample reports
9ARB Departmental InvoiceSingle Revenue Line
THE UNIVERSITY OF MICHIGAN F.E.I. NO. 38-6006309
INVOICE November 4, 2003INVOICE DATE
(3-8)
LEAVE ABOVE SPACE BLANK
BILL TO: D-U-N-S NO. 07-313-3571ORIGINATING DEPT, INDIVIDUAL, AND TELEPHONE NO.
CUSTOMER ORDER NO. InterviewUM Department
Allison Alero(734) 936-6198
Fox News Channel1211 Avenue of the AmericasNew York, NY 10036
INVOICE
NO
}
Expire Date: MAKE CHECK REMITTANCES PAYABLE TO AND ADDRESS TO
THE UNIVERSITY OF MICHIGANCardholder Signature: BOX 223131
Name Printed: PITTSBURGH, PA 15251-2131
FOR PROPER CREDIT TO YOUR ACCOUNT
PRICES, EXTENSIONS AND FOOTINGS CORRECT
LEAVE THIS SPACE BLANK ACCOUNTS CREDITED
ALPHA NUMBER NAME (ABBREVIATE) AMOUNT CLASS CODE
400125 1,350.00 7500UM Department A
10
Report ID: MGL02488Bus. Unit: UMICH--The University of MichiganMonthly Rpt Period: NOV-2003Fund: 10000 - GeneralDepartment: 123456 - UM Department Program: 10000 - Generic Program CodeDept Manager: TAURUS, TRACYMgr Address: UM RESEARCH BUILDING
1600 RESEARCH 2070
Journal ID Jrnl Dt TransRef Ln Journal Line Description Jrnl Ln Class Project/Grant Acct Account Descr Amount Fiscal YTDRef
Beginning Balance 01-JUL-2003 105,679.22
Total Appropriations 0.00 42,206.00General Income
BI01235170 10-NOV-2003 5 BI Billing 414350 Revenue From Depart Ac 1,350.00BI01235229 21-NOV-2003 16 BI Billing 414350 Revenue From Depart Ac 10,000.00BI01235230 24-NOV-2003 2 BI Billing 414350 Revenue From Depart Ac -250.00
Total General Income 11,100.00 15,800.00
Total Revenues 11,100.00 58,006.00Instructional Faculty Salaries
PYM0936176 26-NOV-2003 3 Payroll Monthly PYM 11100 F012234 500400 Professor 416.67
Statement of Activity (SOA)Single Fund/Department/Program Example
The BI Journal ID Mask identifies billing journals in the ARB systems.
A
B
11AR/Billing Detail ReportSingle Fund/Department/Program Example
A
B
The billing detail is displayed in the same order as on the SOA.The Journal Total matches the Amount of the journal line on the SOA.
Report ID: MAR03623Bus. Unit: UMICH--The University of MichiganMonthly Rpt Period: NOV-2003Fund: 10000 - GeneralDepartment: 123456 - UM Department Program: 10000 - Generic Program CodeDept Manager: TAURUS, TRACYMgr Address: UM RESEARCH BUILDING
1600 RESEARCH 2070
Journal ID: BI01235170 Journal Date: 10-NOV-2003 Class: Project/Grant: Account: 414350, Revenue From Depart Activity
Bill RevInv. Bill Inv. Line Line
Inv. Date Type BU Line Seq Seq Award/Dept Ref Customer ID Customer Name PO/Contract Reference Amount Journal Total------ -------- ---------- ----- ---- ---- ---- --------------- --------------- ---------------------------------------- ------------------------- ------------- ---------------550125 11-03-2003 Regular GNREC 1 1 1 GN01042 Fox News Channel 1,350.00
Total Jounral ID BI01235170, Line 5
Journal ID: BI01235229 Journal Date: 21-NOV-2003 Class: Project/Grant: Account: 414350, Revenue From Depart Activity
Bill RevInv. Bill Inv. Line Line
Inv. Date Type BU Line Seq Seq Award/Dept Ref Customer ID Customer Name PO/Contract Reference Amount Journal Total------ -------- ---------- ----- ---- ---- ---- --------------- --------------- ---------------------------------------- ------------------------- ------------- ---------------551134 11-19-2003 Regular GNREC 1 1 1 GN02827 Daimler Chrysler 5,000.00
Bill RevInv. Bill Inv. Line Line
Inv. Date Type BU Line Seq Seq Award/Dept Ref Customer ID Customer Name PO/Contract Reference Amount Journal Total------ -------- ---------- ----- ---- ---- ---- --------------- --------------- ---------------------------------------- ------------------------- ------------- ---------------551135 11-19-2003 Regular GNREC 1 1 1 GN02827 Daimler Chrysler 5,000.00
Total Jounral ID BI01235229, Line 16
Line: 16
Line: 5
1,350.00
10,000.00
12Statement of Receivables Single Fund/Department/Program Example
1. This report is run with an Account Receivables Business Unit.
1
2. Customer ID identifies who was billed.
2
3
3. Entry type = transaction type. Other values include Credit Memo and Write Off. Converted legacy items have an Entry Type of Invoice Conversion. (See report samples for additional examples).
A
Report ID: MAR03683As of Date: 30-NOV-2003Fund: 10000 - GeneralDepartment: 123456 - UM Department Program: 10000 - Generic Program CodeAR Business Unit: GNREC--General Receivables
Dept Manager: TAURUS, TRACYMgr Address: UM RESEARCH BUILDING
1600 RESEARCH 2070---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Cust ID Customer Name Item ID Orig Item ID Sponsor Vchr Num Award/Dept Reference
GN01042 Fox News Channel 550125Total Amountfor all F/D/P
Post Date Entry Type Entry Reason for this Item--------- ---------- ------------ ---------------09-NOV-2003 Invoice Regular 1,350.0010-NOV-2003 Payment -1,200.50
---------------Remaining Receivable Amount for this Item 149.50
1,350.00
149.50---------------
-1,200.50
Total Amount Payment Check# for this F/D/P -------------- ----------------
13
Report ID: MAR03683As of Date: 30-NOV-2003Fund: 10000 - GeneralDepartment: 123456 - UM Department Program: 10000 - Generic Program CodeAR Business Unit: GNREC--General Receivables
Dept Manager: TAURUS, TRACYMgr Address: UM RESEARCH BUILDING
1600 RESEARCH 2070---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Cust ID Customer Name Item ID Orig Item ID Sponsor Vchr Num Award/Dept Reference
GN01042 Fox News Channel 550125Total Amountfor all F/D/P
Post Date Entry Type Entry Reason for this Item--------- ---------- ------------ ---------------09-NOV-2003 Invoice Regular 1,350.0010-NOV-2003 Payment -1,200.50
---------------Remaining Receivable Amount for this Item 149.50
1,350.00
149.50---------------
-1,200.50
Total Amount Payment Check# for this F/D/P -------------- ----------------
Statement of ReceivablesSingle Fund/Department/Program Example
4. Item ID = the Invoice ID on the AR/BI Detail report.
4
5
6
5. Subtotals for the report Fund/Department/Program (F/D/P) combination.
6. Totals for all F/D/P combinations (ShortCodes) credited on the original invoice. If a single ShortCode is credited, the total equals the subtotal for the report F/D/P.
A
14
Report ID: MAR03695As of Date: 30-NOV-2003Fund: 10000 - GeneralDepartment: 123456 - UM Department Program: 10000 - Generic Program CodeAR Business Unit: GNREC--General Receivables
Dept Manager: TAURUS, TRACYMgr Address: UM RESEARCH BUILDING
1600 RESEARCH
Total amt for Total Amt for Aging for this F/D/P (in days)All F/D/P for this F/D/P
Item As of Date Due Date Terms This item Current 31-60 91-120 121-150 Other---------- ---------- ---------- ----- --------------- --------------- -------------- -------------- -------------- -------------- --------------
Cust ID/Name: GN01042--Fox News Channel
550125 11/03/2003 12/3/2003 AB3ON 149.50 149.50 149.50-------------------------------------------------------------------------------------------------------------------------------------------------
Total for GN01042 149.50 149.50
Cust ID/Name: GN02143--Wayne State University
551132 11/17/2003 12/17/2003 AB3ON -250.00 -250.00 -250.00-------------------------------------------------------------------------------------------------------------------------------------------------
Total for GN02143 -250.00 -250.00
61-90--------------
Aging ReportSingle Fund/Department/Program Example
2. Total remaining amount of the open Accounts Receivable (AR) Item for allF/D/P combinations (ShortCodes) credited on the invoice.3. The amount due for the report F/D/P combination on the open AR Item.
1. The As of Date and Due Date determine the age of the open AR Item.
1
2
3
A
15
PRICES, EXTENSIONS AND FOOTINGS CORRECT
LEAVE THIS SPACE BLANK ACCOUNTS CREDITED
ALPHA NUMBER NAME (ABBREVIATE) AMOUNT CLASS CODE
400125 245.09 7500PASSED BY FINANCIAL
OPERATIONS 400130 20.00 7500
990050
UM Department--Parking
UM Department--Parking
THE UNIVERSITY OF MICHIGAN F.E.I. NO. 38-6006309
INVOICE November 4, 2003INVOICE DATE
(3-8)
LEAVE ABOVE SPACE BLANK
BILL TO: D-U-N-S NO. 07-313-3571ORIGINATING DEPT, INDIVIDUAL, AND TELEPHONE NO.
CUSTOMER ORDER NO.
UM Department -- ParkingSkip Durango
(734) 936-6198
Madison LaBaron124 Auto CourtMilan, MI 48160
INVOICE
NO
}
ARB Departmental InvoiceMultiple Revenue Line
C
16
Report ID: MAR03683As of Date: 30-NOV-2003Fund: 40000 - DesignatedDepartment: 123456 - UM Department Program: 10322 - Unit Specific Program CodeAR Business Unit: GNREC--General Receivables
Dept Manager: TAURUS, TRACYMgr Address: UM RESEARCH BUILDING
1600 RESEARCH 2070---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Cust ID Customer Name Item ID Orig Item ID Sponsor Vchr Num Award/Dept Reference
GN01022 Madison LaBaron 564758 1Total Amountfor all F/D/P
Post Date Entry Type Entry Reason for this Item--------- ---------- ------------ ---------------04-NOV-2003 Invoice Regular 270.0904-NOV-2003 Payment -270.09
---------------Remaining Receivable Amount for this Item 0.00
GN01476 Mayo Clinic 560786Total Amountfor all F/D/P
Post Date Entry Type Entry Reason for this Item--------- ---------- ------------ ---------------06-NOV-2003 Invoice Conversion 13,104.00
---------------Remaining Receivable Amount for this Item 13,104.00
3,276.00
3,276.00-------------
Payment Check# for this F/D/P -------------- ----------------
245.09
0.00
Total Amount
-------------
-245.09
Total Amount Payment Check# for this F/D/P -------------- ----------------
Statement of Receivables Multiple Fund/Dept/Program combinations example
1. Subtotals for the report Fund/Department/Program combination.
2. Totals for all Fund/Department/Program combinations (ShortCodes) credited onthe original invoice.
1
2
C