Accounts Receivable: Running Reports to Monitor Cash Balance

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Accounts Receivable:
Running Reports to Monitor Cash Balance
I. Overview
Description:
A receivable is recorded (at the time the invoice is processed) and the unit receives
revenue for the amount of the invoice on their Statement of Activity (SOA). When the
revenue appears on the SOA, it does not mean that the payment for the invoice has
been made and the unit should not view this transaction as cash being received. At
the same time the revenue is generated to the department SOA, a receivable is
recorded centrally for the University.
The following process should be completed on a monthly basis to ensure the unit
understands their current cash balance. There are two reports that can be run to
analyze the cash position. Both reports contain similar information, the output and
organization of the report differs. Each unit should determine which report fits their
needs. If any issues arise, the unit should work with Shared Services to resolve any
errors.
Note: Process changes will be minimal for those using the central receivables system
today.
Competency(ies)
Required:
M-Pathways FINPROD, Business Objects (Accounts Receivable), and M-Reports,
Email
Frequency:
Monthly
SSC Turnaround:
If unit contacts Shared Services, response within 3 days.
Accounts Receivable: Running Reports to Monitor Cash Balance
As of 6/9/2014
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Accounts Receivable:
Running Reports to Monitor Cash Balance
II. Process Flow
School/Unit/Department Detailed Process for Running Reports for Accounts Receivable
School / Unit / Department
Note: Process changes will be minimal for those using the central receivables system today
Monitor Cash Balance
1. Log into
Business
Objects or
M-Pathways
2. Run Statement
of Receivables
Report
3. Run Aging
Report
4. Review and
analyze results
5. Consult with
Shared Services if
questions arise
UM Shared Services
Note: See FIN Accounts Receivable Process Flows for detailed Shared Services steps
Resolve Issues
6. Work with unit
to resolve issue
End
III. Process Steps
Step
Description
Current
Staff
Future
Staff
Training
1
Log into M-Pathways FINPROD, Business Objects, or
M-Reports.
AR160
2
Run the Statement of Receivables Report. This report
shows the open receivables as of the date run and any
activity applied to those items (i.e., payments, writeoffs, or credit memos).
AR160,
MyLINC:
Statement of
Receivables
Report Field
Descriptions

In M-Pathways FINPROD, this report can be found
at:
Main Menu Reporting Tools AR Reports Stat
of Recv by Fund/Dept/Prog (or by Project/Grant).

In Business Objects, this report can be found at:
Accounts Receivable: Running Reports to Monitor Cash Balance
As of 6/9/2014
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Accounts Receivable:
Running Reports to Monitor Cash Balance
Public Folders UM-Maintained Financials
AR01 Accts Receivable and Billing AR01
AcctsRec Aging Detail by Fund,Dept,Program (or
by Project Grant)

In M-Reports, this report can be found at:
Research  Outstanding Receivables or
FinMgmt  Projects Outstanding Receivables.
For a description of the report fields, refer to the
Statement of Receivables Report Field Descriptions
available in MyLinc.
3
Run the Aging Detail Report. This report lists the open
receivables and shows the number of days the invoice
has been outstanding.

In M-Pathways FINPROD, this report can be found
at:
AR160,
MyLINC:
Aging Detail
Report Field
Descriptions
Main Menu Reporting Tools AR Reports
Aging Report by Fund/Dept/Prog (or by
Project/Grant).

In Business Objects, this report can be found at:
Public Folders UM-Maintained Financials
AR01 Accts Receivable and Billing AR01
AcctsRec Aging Detail by Fund,Dept,Program (or
by Project Grant)

In M-Reports, this report can be found at:
Research  Outstanding Receivables or
FinMgmt  Projects Outstanding Receivables.
For a description of the report fields, refer to the Aging
Detail Report Field Descriptions available in MyLinc.
4
Review and analyze results.
AR160
5
Consult with Shared Services if questions arise via
phone (734) 615-2000 or email at
AR160
Accounts Receivable: Running Reports to Monitor Cash Balance
As of 6/9/2014
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Accounts Receivable:
Running Reports to Monitor Cash Balance
accountsreceivableSSC@umich.edu.
IV. Document and Training Repository
Document Title
AR160
Description
This training will cover an overview on how to handle cash, checks, and
sponsor calls; rules about which funds you can bill on; running the
monthly statement reports; and understanding their role in the
collections process. This class is geared towards managers in the unit.
Statement of Receivables
Report Field Descriptions
This document includes definitions for the fields on the Statement of
Receivables report.
Aging Detail Report Field
Descriptions
This document includes definitions for the fields on the Aging Detail
report.
Accounts Receivable: Running Reports to Monitor Cash Balance
As of 6/9/2014
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