| AR module closes at 5pm on Friday 15 August |
On this page
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Final date for completion |
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|---|---|
| Submit invoice write off forms to Credit Control >£25k | Wed 18 Jun |
| Identify and bank all cash/cheques received up to end of July (this includes vending machines, collection tins and drawers) |
Thu 31 Jul |
| Submit invoice write off forms to Credit Control £10k-£25k | Tue 5 Aug |
| Receipt all cash/cheques and PDQ income up to 31 July 2025 | Thu 7 Aug |
| Raise all 2024/25 Internal Trading invoices and send backing | Tue 12 Aug |
| Submit invoice write off forms to Credit Control <£10k | Tue 12 Aug |
| Review and then receipt any remaining BACS income | Fri 15 Aug |
| Last date for issuing invoices to Group Defined organisations | Fri 15 Aug |
| Complete and dispatch all remaining external invoices | Fri 15 Aug |
| Review for bad debts and notify Credit Control | Fri 29 Aug |
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Key date |
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|---|---|
|
Bank charges and small balance adjustments |
Thu 14 Aug |
|
Full individual debt statements distributed to institutions |
Mon 18 Aug |
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First posting of bad debt provision |
Mon 18 Aug |
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Final posting of bad debt provision |
Fri 29 Aug |
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It is essential that customer and internal trading invoices are processed in the correct accounting period and all receipts are identified and applied to outstanding invoices |
The AR module for the new financial year (August 2025/26 period) opens on 7 August. Do not raise August-dated invoices until after this date. The delayed opening date will allow institution accounts staff to concentrate on the closing of the July period.
The 2024/25 AR module close date is Friday 15 August.
Identify all monies received up to close of business on 31 July, whether received via the post or over the counter. This includes monies from the emptying of all vending machines, key deposits and other collection items.
Institutions should bank cash and cheques received in relation to the August 2025 but will not be able to enter receipt batches on CUFS until 7 August, when the AR module is opened for August 2025.
For all AR receipt transactions, ensure the correct dates are used.
NB. All cheques need to be dated July 2025 or earlier.
NB. If forwarding cheques to the cashier for banking, email the receipt batch details. Specify which financial year it relates to.
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. BACS from July or earlier, any previously unclaimed PDQ bank deposits and counter credits can be claimed by receipting them in the usual way. Ensure a July 2025 receipt and GL date is used.
| Invoices for 2024/25 |
Must be raised with both an invoice date and a GL date of July 2025 on or before 12 August. NB. Internal Trading AR invoices should, wherever possible, be raised in relation to the period up to 31 July so that the paying institution recognises the charge in full in 2024/25. Therefore, institutions should raise their sales invoices as soon as possible to give receiving institutions time to process them. |
| Invoices for Aug 2025 |
May not be raised until after the close of the AR module for the current financial year. NB, Internal trading transactions cannot be raised from Tues 12 Aug (5pm) to Fri 15 Aug 2025 Therefore,18 Aug will be the first possible invoice date |
To send backup documentation to receiving institutions, use the relevant contact from the list of email addresses [1].
Ensure that all external sales invoices, together with credit memos, have been raised to correctly record all income due and all monies owed to the institution.
Run the Incomplete Invoices Report to check there are no un-posted invoices.
Review all AR invoices pulled into the Accounts Receivable module through the Auto-Invoice process to ensure there are no errors. Adjust if these invoices need to be dated 31 July or earlier.
A bad-debt provision will be posted into the General Ledger by the Finance Division Credit Control team on 18 August once AR has closed on the 15 August. The value of the bad-debt provision posted against an invoice is determined by the age of the invoice and the balance due, as per the table below.
| Days past due | Bad debt provision |
|---|---|
| 60 - 182 days | 25% of the balance due |
| 183 - 364 days | 50% of the balance due |
| 365+ days | 100% of the balance due |
The bad-debt provision is posted to the original sale's cost centre and source of funds using a transaction code of FJNA.
| The dates for the processing of the bad debt provision for July 2025. | |
|---|---|
| 18 Aug | Initial Bad Debt Provision |
| 29 Aug | Final Bad Debt Provision (takes account of August cash receipts and adjustments) |
On 18 August, Credit Control will distribute the full individual debt statements to institutions. These statements detail all overdue debt and should be reviewed in conjunction with the Ageing–7 Buckets–by Account Report (CUFS). Notify Credit Control [2] about any additional doubtful or irrecoverable debtor items on or before 28 August.
Institutions who manage their unpaid debts via a Debtors Control GL Account in CUFS must reconcile this in full, ensuring that the balance of this account matches the total of unpaid debtors.
Ensure that the bad debt statements and Ageing–7 Buckets–by Account Report (CUFS) have been reviewed to identify any debts established as being uncollectible. Uncollectible debts are an expense against the Institution and posted using a transaction code of FJNB.
The submission dates for write off requests requiring processing prior to the 2024/25 AR modules close date as below.
| Final submission date | Value of write off |
|---|---|
| Wed 18 June 2025 | >25,000 |
| Tue 5 Aug 2025 | £10,000 - £25,000 |
| Tue 12 Aug 2025 | <£10,000 |
Ensure the write off request is received by Credit Control by the dates shown and using the below guide for the level of authorisation and supporting information needed.
| Amount of debt (including VAT) | Authorisation level required | Action for key date |
|---|---|---|
| Debtors up to £10,000 | Head of Institution | Complete a 'Wite Off' form and send to Credit Control |
| Debtors of between £10,000 and £25,000 | Director of Finance | Complete a 'Write Off' form sent with an email containing supporting information |
| Debtors over £25,000 | Finance Committee | Formal paper to be prepared and submitted |
Refer to FPM 8a External Trading and Credit Control [3] for full details of the information needed.
For write offs exceeding £10,000, when the Head of Institution approval has been obtained, submit the request and supporting information to Credit Control who will obtain the required authorisation on the institution's behalf and action the write off in CUFS prior to the close of the 2024/25 AR module.
Contact Credit Control [2] with any enquiries concerning write offs.
| In case of queries please email the Accounts Receivable helpdesk [4] or Tel. 32215 |