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Accounts Receivable policy and procedures

The Sundry Debtors System is used to recover monies from individuals or organisations in return for goods or services, which have been provided by the University. It is held on the Accounts Receivable module of the Finance One system. The Accounts Receivable Section is within the Revenue Services section of the Office of Financial services.

Student Debtors are recorded separately on the Student One system and managed by the Revenue Services Section of the Office of Financial services.

This document outlines the Policy and Procedures for Accounts Receivable (Sundry Debtors)

  • Offering of credit
  • Categories of goods and services that can be obtained from the university by credit
  • Terms of sale of goods and services
  • Issue of invoices

The purpose of this policy is to ensure that the University has an efficient and effective sundry debtors system.

The central debtors system

The University's Sundry Debtors System is used to invoice individuals and organisations for a wide variety of goods and services provided by the Divisions and Offices.

Typically the goods and services provided include:

  • Electricity charges
  • Hire of equipment and facilities
  • The provision of Educational Programmes
  • Payments to be made to the University in accordance with contracts and agreements
  • Postal charges
  • Property rentals
  • Printing
  • Recovery of other costs from organisations or individuals
  • Recovery of salaries from other organisations
  • Rent except student housing
  • Sale of publications
  • Telephone charges
  • Library services

Credit terms for sales

This topic covers:

  • Extending credit to debtors
  • Period of credit
  • Extending credit to debtors

Credit may be extended to an organisation if approved by the Head of the Budget unit.

The extension of credit facilities is only allowed when either of the following conditions is met:

  • The proposed debtor's credit worthiness is confirmed by an examination. This task is to be undertaken by the Budget unit.
  • Transactions form part of an agreement or contract approved by the Vice-Chancellor, Deputy Vice-Chancellors or senior officers (Registrar & Vice-Principal, Director of Financial Services, Director, of the Office of Facilities Management, Director of Human Resources, Librarian and Director of IT Services).

Period of credit

The following credit terms apply unless otherwise specified in an agreement or contract:

Debtor Credit period from date of invoice
Staff 14 days
Students 14 days *
All other debtors 30 days

*Excludes student loans which are based on written agreements

How to have an invoice raised

To request an invoice be raised:

  • Complete a Invoice Request form (Word) including:
  • Full details of goods or services as required on the invoice
  • Full contact details of the debtor including organisation name, address, phone and fax numbers, contact person within organisation, and ABN.
  • Amount owing including rates and totals
  • GST status and GST amount
  • Account to be credited
  • Contact name within the Division or Office
  • Authorisation by an officer with sufficient delegated authority

Forward the form and any supplementary documentation to the Accounts Receivable Officer, Revenue Services, Lincoln Building.

Revenue Services will:

  1. Raise an invoice and send it to the debtor, requesting payment according to the credit terms
  2. Credit the amount of the invoice to the nominated Cost Centre
  3. Forward a copy of the invoice to the Division or Office if requested.

If the Division or Office receives payment of an invoice directly, the payment must be forwarded immediately to the Cashier with all available payment details.  

How to raise a credit note

Credit notes may be raised to:

(1) Amend an invoice

(2) Cancel an invoice

All Credit notes must be approved by the Assistant Director - Revenue Services and must state the reason for the amendment or cancellation. Credit notes can only be raised by Credit note request form (Word).

Recovery of debts

The recovery of debts is the responsibility of the Revenue Services section of the Office of Financial Services.

The following procedure applies to collection of overdue accounts:

  1. All debtors receive a Statement issued at the end of each Month detailing all transactions on their account
  2. If payment of an invoice is 30 days overdue, a reminder letter is sent.
  3. If no adequate response is received after 60 days, Further correspondence and discussions follow.
  4. All items over 60 days are reviewed. Consideration is given to more stringent collection processes and sanctions:
  5. In the first instance the originating department will be consulted to determine if there are any mitigating circumstances or special arrangements which impact on the matter
  6. Referral of the debt to the University's debt collecting agency
  7. Legal action to recover the debt
  8. No further provision of credit.

Debts that are written off

The proposed write off of a Doubtful Debt must be authorised by the Director, Office of Financial Services, after exhausting all other options available for recovery.

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