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Departmental responsibilities and Financial Regulations

The collection of income (and any subsequent debts) is the responsibility of the Department raising the sales invoice. The Financial Regulations state:

"With the exception of Research Grant claims, departments are responsible for all aspects of credit control and for debt collection in respect of invoices issued to third parties. Heads of Department must ensure that proper procedures are in place to monitor all debts and follow up overdue accounts and must establish a provision for any debts considered irrecoverable. A debit is created whenever a credit sale is made, or any other obligation to pay money to the University arises. Advice must be sought from the Director of Finance where legal action to recover moneys due is considered."

The procedures detailed in this section outline best practice in relation to the collection of overdue debts from external customers (debtors). The risk of late or non-settlement can never be entirely eradicated and Departments should take a structured, recorded and pro-active approach to recovery as soon as an invoice is raised.

Tools exist within the Accounts Receivable module of UFS to assist with the management and monitoring of debts by enabling departments to track and record any contact with debtors. Departments are encouraged to contact the AR and CM Team for detailed advice and assistance on specific debts.

Refer to the Collections section on the UFS website for guidance on how to utilise UFS and record details of actions in relation to Debt Management.

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