The collection of income (and any subsequent debts) is the responsibility of the institution raising the sales invoice. The Financial Regulations state, “With the exception of research grant claims, institutions are responsible for debt collection in respect of invoices issued to third parties. Advice must be sought from the Director of Finance where legal action to recover monies is considered.” ¹⁰

The procedures detailed in this section outline best practice in relation to the collection of overdue debts from external customers (debtors). Institutions should take a structured, recorded, and pro-active approach to collection as soon as an invoice is raised.
 

¹⁰ Financial Regulations 2012, Income and Expenditure [1], 12.2

Latest version 17 April 2024