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Accounts Receivable concerns income generated from sales for services rendered with the following steps being involved.

  • Invoice - Raise sales invoice.
  • Send to Customer - Invoice sent to Customer.
  • Receipts - Income collected and receipted.
  • Debt Management - Credit Control statements/dunning letters.

It will be necessary to raise sales invoices promptly to ensure income is collected quickly.

Internal Trading

Internal Trading refers to inter-department (internal to the University) purchases and sales - when one department trades (sells goods or services) to another department.

  • Dept A Sales Invoice - Raise Internal AR invoice.
    • Disputes - When invoices are disputed, queries should be resolved by referring to Head of Department in the first instance. Final arbitration is with the Finance Division.
  • Dept B Action Invoice - Locate Internal AP invoice on CUFS, code to appropriate department account and approve.
  • Dept A Sales Invoice - Raise Internal AR invoice.
  • Finance Division Reviews - Finance Division reviews matchin of AP and AR invoices.


It is important to ensure that all monies (cash and cheques) received during the month are banked and receipted promptly and at least weekly. It will also be necessary to balance your petty cash float each week.

Month End Guidance

Accounts Receivable (AR)

  • Complete AR invoices, credit notes and batch receipts for the month (this is ongoing).

  • Print and send AR invoices and customer statements.

  • Print and send Dunning letters as part of credit control.

  • Run Incomplete Invoices report to identify any incomplete sales transactions and complete/cancel transactions as necessary.

  • Run Unapplied Receipts Register to identify any receipts unapplied to specific invoices and match these receipts to the invoices report.

  • Run Ageing 7 Buckets by Accounts report to show invoices with no remittance, and review - use for credit control.

  • Review and write-off bad debts (with the Head of Department approval).

Internal Trading

  • Raise Internal Trading AR invoices promptly to departments in accordance with agreed terms.

  • Process Internal Trading AP invoices promptly (within the same month if possible)

  • Review and agree Internal Trading invoices in dispute and refer to arbitration as necessary.


  • Complete all receipt batches for cash and cheques received on or before the last day of the month.

  • Run the Receipt Register report for cash receipt batches.

  • rrange for banking of all monies received up to the last day of the month (including vending machines, photocopier sales, pay phones, key deposits).

  • Claim BACS receipts/bank transfers from the weekly Finance Division spreadsheet.

  • Process monthly petty cash journal for balancing your petty cash float.

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