The AR module interfaces with Accounts Payable, Grants and General Ledger modules.
It is essential that all customer / Internal Trading invoices are processed in the correct accounting period and all receipts are identified and applied to outstanding invoices.
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Tasks required |
Final date for completion |
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Complete and return Cash Holding Confirmation form for all petty cash, till floats and advance balances as at 30 June |
Fri 20 Jul |
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Empty all vending machines and identify cash/cheques received up to end of July 2018 |
Tue 31 Jul |
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Process all cash/cheques and, if possible, PDQ income up to end of 31 July 2018. Run the Receipts Register Report. |
Wed 1 Aug |
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Run and review Unapplied Receipts Register |
Wed 1 Aug |
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Raise / dispatch all 2017/18 internal trading invoices |
Fri 10 Aug |
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Run Ageing -7 buckets report and review for bad debts |
Tue 14 Aug |
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Receipt any BACS/bank transfers or unclaimed PDQ income |
Wed 15 Aug |
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Raise, complete and dispatch all external and group related invoices |
Wed 15 Aug |
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Run and review Incomplete Invoices Report (external trading) |
Wed 15 Aug |
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AR module closes at 5pm |
Wed 15 Aug |
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In case of queries please contact the Accounts Receivable Helpdesk
Tel. 32215 or email UFS_AR@admin.cam.ac.uk
| ON THIS PAGE | |
Accounts Receivable module
The AR module will not open for the August period until Tuesday 7 August 2018. You will not be able to raise August dated invoices until after this date; the delayed opening date will allow departmental accounts staff to concentrate on the closing of the July period which closes on Wednesday 15 August.
Confirmation of petty cash, till floats and advance balances
All departments need to confirm their petty cash, float balances and any advance balances as at 30 June 2018 by completing the 2018 Cash holding confirmation form. Completed forms (including NIL returns) should be returned to the Finance Division by Friday 20 July marked for the attention of the Cashiers.
In case of queries please contact the Accounts Receivable Helpdesk
Tel. 32215 or email UFS_AR@admin.cam.ac.uk
Cash and cheque receipts
Identify all monies received up to close of business on 31 July 2018, whether received via the post or over the counter. This will include monies from the emptying of all vending machines, pay phones, key deposits and photocopier card sales etc.
Departments should continue to bank cash and cheques received in relation to the new financial year but will not be able to enter receipt batches on UFS until 7 August, when the AR module is opened for the 2018/2019 financial year.
Receipt batches
For all Accounts Receivable transactions please ensure the correct dates are used:
For all AR transactions please ensure the correct dates are used:
- Receipt batches, receipts and transactions relating to the old financial year must have both GL and receipt/transaction dates of JUL-18.
- Receipt batches, receipts and transactions relating to the new financial year must have both GL and receipt/transaction dates of AUG-18.
- Complete all receipt batches for cash, cheques (and if possible PDQ transactions) received by the ‘University’ on or before 31 July 2018, using an accounting date of July 2018.
NB. All cheques need to be dated July 2018 or earlier. - Run the Receipt Register Report (UFS) for each receipt batch and bank as normal
NB. It may be that your first visit to the Cashier after the year end includes two receipt forms, one for each year. This is expected and acceptable. - Run the Unapplied Receipts Register report to see where receipts have not been matched to an invoice. Apply receipts created against customers to clear outstanding invoices as necessary.
Review for bad debts
Run the Ageing–7 Buckets–by Account Report (UFS) and review for doubtful / irrecoverable debtor items. Notify Credit Control on any such debtors : fincreditcontrol@admin.cam.ac.uk
BACS receipts, bank transfers and unclaimed PDQ receipts
Please ensure that all income is claimed and receipted from the twice weekly BACS list that Finance Division distribute for GBP, EURO and US Dollars, before AR is closed. July or earlier BACS, any previously unclaimed PDQ bank deposits and counter credits can be claimed by receipting them in the usual way. Ensure you use a July 2018 receipt and GL date.
Internal AR invoices
| Invoices for 2017/18 |
To be raised with both an invoice date and a GL date of July 2018 and dispatched to departments by 10 August. NB. Internal trading AR invoices should, wherever possible, be raised in relation to the period up to 31 July so that the paying department recognises the charge in full in 2017/18. Therefore, departments are encouraged to raise their sales invoices as soon as possible to allow time for the receiving department to process them. |
| Invoices for Aug 2018 |
These may not to be raised until after the close of the AR module for the current financial year. NB. As Internal Trading invoice and credit memo transaction types for 2018/19 should not be raised until after the close of July accounts, users will be temporarily disabled from raising internal sales invoices from Friday 10 August (5pm) to 15 August 2018. Therefore, Thursday 16 August will be the first possible invoice date. |
External invoicing – all departments
Ensure that all external sales invoices, together with credit memos, have been raised in order to record all income due and all monies owed to the department.
Run Incomplete Invoices Report to check there are no un-posted invoices.
Refer ‘Other Debtors’ if the final date for AR invoices has been missed.
Invoicing – departments with interfaces
Review all AR invoices pulled into the Accounts Receivable module through the Auto-Invoice process to ensure that there are no errors. Make adjustments if these invoices need to be dated 31 July or earlier.
In case of queries please contact the Accounts Receivable Helpdesk
Tel. 32215 or email UFS_AR@admin.cam.ac.uk