Accounts Receivable and Billing - University of Michigan

Accounts Receivable and Billing - University of Michigan

Accounts Receivable and Billing (ARB) Presenters: Debbie Talley [email protected] Financial Operations Sponsored Programs Supervisor of Fund Requests and Collections Mary Byrkit [email protected] MAIS Financials CPU Application Manager for GL, AR and Billing Agenda Benefits of the PeopleSoft Accounts Receivable and Billing systems ARB key concepts and terminology Walkthrough of month-end ARB reports See handouts of report samples 2 ARB Benefits Invoices and payments are posted daily to the General Ledger. Reduced billing time improves cash flow. Integration with other M-Pathways modules improves processing and reporting. Revenue is distributed directly to parent and sub Project/Grants based on their expenditures. Managers of sub Project/Grants can directly monitor their Account Receivable activity. 3 ARB Key Concepts & Terms AR/Billing Business Units Customers SPFED SPNON Sponsored: Customer ID = Billing Project ID (e.g., F012234) Invoices (Billing module) Invoice = Bill

Sponsored invoices: 7-digit number (e.g. 1234567) Items (Accounts Receivable module) Item = Invoice Open item converted from legacy to ARB: 6-digit legacy item number 4 ARB Reports Three new reports: SOA AR/BI Detail (new) Statement of Receivables (enhanced) Provides invoice detail for the billing journals on the SOA. Shows the open Accounts Receivable items and the transactions (e.g. payments) affecting the balance for those items. Aging Report (new) Displays the number of days the invoice has been outstanding for open Accounts Receivable items. 5 ARB Reports Navigation in FinODS Go / Reports / AR Reports SOA AR/BI Detail is also accessible the via GL Reports menu. The reports can be run by Project/Grant or Fund/Department/Program See separate handout with sample reports 6 Statement of Activity (SOA) 7 Standalone Project/Grant Example Report ID: Bus. Unit: Monthly Rpt Period: P/G: P/G Eff. Status: P/G Director: P/G Administrator: Adm Address: Journal ID

Gifts and Grants BI01235250 BI01235301 MGL00158 UMICH--The University of Michigan NOV-2003 F000000-Federal Sponsored Project Grant Standalone Example Active LEXUS, LARRY A LEXUS, LARRY A UM RESEARCH BUILDING 1600 RESEARCH 1075 Jrnl Dt TransRef Ln Journal Line Description Fin Ops Coordinator:TUNE,LEA M 764-9591 [email protected] P/G Status: Approved P/G Start/End: 01-OCT-2000 to 30-SEP-2005 P/G Department: 123456-UM Research Department Sponsor/Donor: National Science Foundation-Subcontracts Jrnl Ln Ref Fund Dept A 15-NOV-2003 22-NOV-2003 Prgm Class Acct Account Desc Beginning Balance 01-JUL-2003: Fund 20000 18 BI Billing 22 BI Billing BI BI 20000 20000 123456 123456 10000 10000 22000 22000 405900 405900 Fed Grants Revenue Non Fed Grants Revenue Non Total Gifts and Grants: Fund 20000 Total General Income: Fund 20000 B Total Revenues: Fund 20000

Total Instructional Faculty Salaries: Fund 20000 Staff Salaries PYB1243016 PYB1251826 03-NOV-2003 17-NOV-2003 Amount 2 Payroll Bi-weekly 2 Payroll Bi-weekly PYB PYB 20000 20000 123456 123456 10000 10000 22000 22000 510600 510600 Other Professional Other Professional Fiscal YTD -14,533.75 5,278.96 4,989.02 10,267.98 39,438.57 0.00 1,300.00 10,267.98 40,738.57 0.00 2,000.00 538.47 538.47 The BI Journal ID Mask identifies billing journals in the ARB systems. AR/Billing Detail Report 8 Standalone Project/Grant Example Report ID: Bus. Unit: Monthly Rpt Period: P/G: P/G Eff. Status: P/G Director: P/G Administrator: Adm Address: A MAR03621 UMICH--The University of Michigan NOV-2003 F000000-Federal Sponsored Project Grant Standalone Example Active LEXUS, LARRY A

LEXUS, LARRY A UM RESEARCH BUILDING 1600 RESEARCH 1075 Journal ID: BI01235250 Fund: 20000 Inv. -----100522 Inv. Date -------11-20-2003 Inv. -----100529 Inv. Date -------11-20-2003 Journal Date: 15-NOV-2003 Line: 18 Dept: 123456 Program: 10000 Class: Fin Ops Coordinator: P/G Status: P/G Start/End: P/G Department: Sponsor/Donor: 22000 TUNE,LEA M 764-9591 [email protected] Approved 01-OCT-2000 to 30-SEP-2005 123456-UM Research Department National Science Foundation-Subcontracts Account: 405900, Fed Grants Revenue Non-LOC Type ---------Regular Bill BU ----SPFED Bill Rev Inv. Line Line Line Seq Seq Award/Dept Ref ---- ---- ---- --------------1 1 1 JOI Subaward No Customer ID --------------F000000 Customer Name ---------------------------------------Joint Oceanographic Institutions Dir of PO/Contract Reference ------------------------- Amount Journal Total ------------- --------------5,078.96 Type ---------Regular Bill BU ----SPFED Bill Rev Inv. Line Line

Line Seq Seq Award/Dept Ref ---- ---- ---- --------------1 1 1 JOI Subaward No Customer ID --------------F000000 Customer Name ---------------------------------------Joint Oceanographic Institutions Dir of PO/Contract Reference ------------------------- Amount Journal Total ------------- --------------200.00 Total Jounral ID BI01235250, Line B Journal ID: BI01235301 Fund: 20000 Inv. -----101404 Inv. Date -------11-24-2003 Type ---------Regular Journal Date: 22-NOV-2003 Line: 22 Dept: 123456 Program: 10000 Bill BU ----SPFED Bill Rev Inv. Line Line Line Seq Seq Award/Dept Ref ---- ---- ---- --------------1 1 1 JOI Subaward No Class: Customer ID --------------F000000 22000 18 5,278.96 Account: 405900, Fed Grants Revenue Non-LOC Customer Name ---------------------------------------Joint Oceanographic Institutions Dir of PO/Contract Reference ------------------------- Amount Journal Total ------------- --------------4,989.02 Total Jounral ID BI01235301, Line 22 4,989.02 The billing detail is displayed in the same order as on the SOA. The Journal Total matches the Amount of the journal line on the SOA.

Statement of Receivables 9 Standalone Project/Grant Example Report ID: As of Date: P/G: AR Business Unit: MAR03686 30-NOV-2003 F000000-Federal Sponsored Project Grant Standalone Example SPFED--Federal Sponsored Activity P/G P/G P/G Adm Active LEXUS, LARRY A LEXUS, LARRY A UM RESEARCH BUILDING 1600 RESEARCH Eff. Status: Director: Administrator: Address: 1 FinOps Coordinator: 2 TUNE,LEA M 764-9591 [email protected] Approved 01-OCT-2000 to 30-SEP-2005 123456-UM Research Department National Science Foundation-Subcontracts P/G Status: P/G Start/End: P/G Department: Sponsor/Donor: 3 Cust ID (Main P/G) Customer Name Item ID Orig Item ID Sponsor Vchr Num Award/Dept Reference --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------F000000 1 1. 2. 3. 4. Joint Oceanographic Institutions Post Date --------17-NOV-2003 17-NOV-2003 Entry Type ---------Invoice Payment 100522 4 Entry Reason

-----------Regular 421965 Payment Check# -------------- 8 JOI Subaward No Total Amount Total Amount for all P/G for F000000 for this Item ------------------------5,078.96 5,078.96 -1,500.00 -1,500.00 ------------- ------------- Receivable 3,578.96 3,578.96 For a stand-alone P/G, the Main P/GRemaining equals theAmount P/G in the report header. This report is run with an Account Receivables Business Unit. Customer ID is the billing Project/Grant ID. The Customer Name is the Sponsor. Entry type = transaction type. Other values include Credit Memo and Write Off. Converted legacy items have an Entry Type of Invoice Conversion. (See report samples for additional examples). Statement of Receivables 10 Standalone Project/Grant Example Report ID: As of Date: P/G: AR Business Unit: MAR03686 30-NOV-2003 F000000-Federal Sponsored Project Grant Standalone Example SPFED--Federal Sponsored Activity P/G P/G P/G Adm Active LEXUS, LARRY A LEXUS, LARRY A UM RESEARCH BUILDING 1600 RESEARCH FinOps Coordinator: Eff. Status: Director: Administrator: Address: TUNE,LEA M 764-9591 [email protected] Approved 01-OCT-2000 to 30-SEP-2005 123456-UM Research Department National Science Foundation-Subcontracts P/G Status: P/G Start/End: P/G Department: Sponsor/Donor: Cust ID (Main P/G)

Customer Name Item ID Orig Item ID Sponsor Vchr Num Award/Dept Reference --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------F000000 Joint Oceanographic Institutions Post Date --------17-NOV-2003 17-NOV-2003 Entry Type ---------Invoice Payment 100522 421965 5 Entry Reason -----------Regular 8 Payment Check# -------------- 6 Remaining Receivable Amount JOI Subaward No Total Amount Total Amount for all P/G for F000000 for this Item ------------------------5,078.96 5,078.96 -1,500.00 -1,500.00 ------------3,578.96 ------------3,578.96 5. Item ID = the Invoice ID on the AR/BI Detail report. 6. Subtotals for the report Project/Grant. 7. Totals for all Project/Grants billed for the Item ID. For a stand-alone P/G, this total equals the subtotal for the report P/G. 7 Aging Report 11 Standalone Project/Grant Example Report ID: As of Date: P/G: AR Business Unit: MAR03697 30-NOV-2003 F000000-Federal Sponsored Project Grant Standalone Example SPFED--Federal Sponsored Activity P/G P/G P/G Adm Active LEXUS, LARRY A LEXUS, LARRY A UM RESEARCH BUILDING 1600 RESEARCH FinOps Coordinator:

Eff. Status: Director: Administrator: Address: 3 1 Due Date ---------- Terms ----AB3ON Total amt for All P/G for This item --------------- Item ---------- As of Date ---------- Cust ID/Name: F000000--Joint Oceanographic Institutions 100522 100529 101404 722048 11/20/2003 11/20/2003 11/24/2003 08/31/2003 12/19/2003 12/19/2003 12/21/2003 09/30/2003 AB3ON AB3ON AB3ON AB3ON 3,578.96 200.00 4,989.02 5,278.96 2 Total for Total for F000000 SPFED Business Unit P/G Status: P/G Start/End: P/G Department: Sponsor/Donor: Total Amt for F000000 --------------- 3,578.96 200.00 4,989.02 5,278.96 TUNE,LEA M 764-9591 [email protected] Approved 01-OCT-2000 to 30-SEP-2005 123456-UM Research Department National Science Foundation-Subcontracts

Aging for Current 31-60 -------------- -------------- F000000 (in days) 61-90 91-120 121-150 Other -------------- -------------- -------------- -------------- 3,578.96 200.00 4,989.02 5,278.96 --------------------------------------------------------------------------------------------------------------------------14,046.94 8,767.98 5,278.96 --------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------------14,046.94 8,767.98 5,278.96 1. The As of Date and Due Date determine the age of the open AR Item. 2. Total remaining amount of the open Accounts Receivable (AR) Item for all associated P/Gs. 3. The amount due for the report P/G on the open AR Item. Statement of Receivables 12 Parent Project/Grant example Report ID: As of Date: P/G: AR Business Unit: MAR03686 30-NOV-2003 F012234 - 012345 Parent Project/Grant Example SPFED--Federal Sponsored Activity P/G P/G P/G Adm Active LEXUS, LARRY A LEXUS, LARRY A UM RESEARCH BUILDING 1600 RESEARCH 1 FinOps Coordinator: Eff. Status: Director: Administrator: Address: TUNE,LEA M 764-9591 [email protected] Approved 01-OCT-2000 to 30-SEP-2005 123456-UM Research Department Health and Human Services, Department of-Office of the P/G Status: P/G Start/End: P/G Department: Sponsor/Donor: Cust ID (Main P/G)

Customer Name Item ID Orig Item ID Sponsor Vchr Num Award/Dept Reference --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------F012234 1 MI Dept of Community Health Agencies Post Date --------05-SEP-2003 08-SEP-2003 Entry Type ---------Invoice Payment 100656 Entry Reason -----------Regular 572950 1 20031129 Payment Check# -------------- 2 Remaining Receivable Amount Total Amount for F012234 ------------51,633.53 -12,450.00 Total Amount for all P/G for this Item --------------62,305.84 -15,000.00 ------------39,183.53 --------------47,305.84 1. For a parent Project/Grant, the Main P/G equals the P/G in the report header. 2. Subtotals for the report Project/Grant (i.e., Parent P/G). 3. Totals for all Project/Grants billed for the Item ID. This includes any sub-P/Gs. 3 Statement of Receivables 13 Sub-Project/Grant example Report ID: As of Date: P/G: AR Business Unit: MAR03686 30-NOV-2003 F012345 - 123654-Sub of F012234-Parent Project/Grant Example SPFED--Federal Sponsored Activity P/G P/G P/G Adm Active TAURUS, TRACY TAURUS, TRACY UM RESEARCH BUILDING 1600 RESEARCH

1 FinOps Coordinator: Eff. Status: Director: Administrator: Address: TUNE,LEA M 764-9591 [email protected] Approved 01-OCT-2000 to 30-SEP-2005 123456-UM Research Department Health and Human Services, Department of-Office of the P/G Status: P/G Start/End: P/G Department: Sponsor/Donor: Cust ID (Main P/G) Customer Name Item ID Orig Item ID Sponsor Vchr Num Award/Dept Reference --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------F012234 1 MI Dept of Community Health Agencies Post Date --------21-NOV-2003 21-NOV-2003 Entry Type ---------Invoice Payment 100656 Entry Reason -----------Regular 572950 1 Payment Check# -------------- 2 Remaining Receivable Amount 20031129 Total Amount for F123456 ------------10,672.31 -2,550.00 Total Amount for all P/G for this Item --------------62,305.84 -15,000.00 ------------8,122.31 --------------47,305.84 1. For a sub-Project/Grant (i.e., the report P/G), the Main P/G is the parent P/G. 2. Subtotals for the report Project/Grant (based on expenditures). 3. Totals for all Project/Grants billed for the Item ID. This includes the Parent P/G and other sub-Project/Grants for that parent. 3

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