The Off-Campus Receivables office manages and maintains receivables for off-campus customers for several departments around campus. This page outlines specific tasks that our office can provide your department.
Setting up and Managing Receivables
In order to begin working with our office to manage your off-campus receivables, you need to determine the following:
- To whom we should direct our questions within your department.
- Where you would like us to transfer revenue to. (Operating Unit, Account, Class Field)
- If and when you want us to actively collect on customer accounts
Using the information determined above, fill out the PDF file "Accounts Receivables Plan" and email it to firstname.lastname@example.org. After receiving this information, our office will create an invoice template specific to your department. We will email you a copy of this invoice template as soon as the system is ready to accept your receivables.
Upon receipt of your department's invoice template, you are prepared to invoice your clients. When preparing an invoice please save one copy for your records, send one copy to the client, and send one copy in Excel format to email@example.com (for a detailed walkthrough on the process of filling out the invoice template, please refer to the document, "Invoice Template Tutorial.")
The invoice template is used for two main reasons:
- Readability of invoices is vital in avoiding added confusion for clients. The less confusion and difficulty for a client, the more willing they are to continue working with Brigham young University in the future.
- Manageablility of invoices is improved as all departments use the same format for their invoicing. Through the excel document we are able to automate the invoicing process in order to reduce human transcription error.
Your Monthly Receivable Update
Off-Campus Receivables will perform two important tasks for your department on a monthly basis. Through Active Collections as well as Monthly Aging Reports, your department will stay informed on collection of your receivables.
Dependent upon your department's preferences, we can start contacting customers in order to facilitate payment of overdue invoices. The methods in which we use to collect payment from customers include the following:
- Contacting responsible personnel within the organization via telephone, email or fax.
- Sending out monthly statements to customers informing them of their overdue invoices.
- Depending upon the desires of the department we can also turn the collections over to a collections agency. These agencies provide clients with an added incentive to pay their overdue charges. Although effective, this method is usually used after we have found that our interval collections have proven ineffective.
Monthly Aging Reports
At the beginning of each month, our office will prepare an Aging Report tailored to your department. Within this report, you will be informed of which invoices are not paid and how many days they are overdue. This report is best used to stay informed of the collection progress of your receivables.
Off-Campus Receivables Office