MANAGING ACCOUNTS
RECEIVABLE
OPAFS Forum
April 21, 2015

Agenda
Understanding the General Ledger
Accounts receivable tools
Shared collections process

Agenda

Money comes in different ways. Today is about those we invoice, typically:

Private contracts

Federal flow thrus

Some Federal awards

Understanding the General Ledger

Review

Chart of Accounts (COA) Report

General Ledger Trial Balance

Chart Query Report
FinancialLink  Reports  Chart of Account Reports  Chart Query Report

General Ledger Trial Balance
FinancialLink  Reports  Ledger and Detail Reports  General Ledger Trial Bal
Accounts to use when running the General
Ledger
Transaction

General Ledger Transactions
FinancialLink  Reports  Ledger and Detail Reports  General Ledger Transactions

General Ledger Transactions
Invoices Posted
When the invoice is posted to the ledger, the financial entries are:
Debit – Billed A/R (112615)
Credit – Unbilled A/R (112678)

General Ledger Transactions
Paid and Unpaid Invoices
When payment is received and posted to the ledger, the entries are:
Debit Cash
Credit Billed A/R (112615)
Invoice
Payment
Total Unpaid

General Ledger Transactions
Total Cash Received

General Ledger Transactions
Total Cash Received
Total Cash
Payments
Received

Accounts Receivable Tools

Chart Query Report

General Ledger Trial Bal

General Ledger Transactions

Sponsored Projects AR Aging

Accounts Receivable Aging

Accounts Receivable Transactions

Payments Receivable

AR/AR Aging Queries

Sponsored Projects AR Aging

Sponsored Projects AR Aging

Sponsored Projects AR Aging

Sponsored Projects AR Aging

Sponsored Projects AR Aging

Accounts Receivable Transactions

Accounts Receivable Transactions

Accounts Receivable Transactions

Shared Collections Process
OPAFS





Create and submit invoices timely and according to the terms and conditions of the award
Follow up by 60 days outstanding with the sponsor
Communicate regularly with department if any potential payment issues
Escalate as needed
Process write off/bad debt entries

Shared Collections Process http://blink.ucsd.edu/go/collections
Departments





Work with OCGA to ensure clear billing terms and conditions prior to agreement on the award. Try to get payment in full up front
Work with PI to ensure that he/she submits all necessary reports and documentation such as progress reports so payments are not delayed
As needed, review outstanding invoices (A/R) using the General
Ledger Trial Balance, General Ledger Transaction and/or the AR
Aging report in Financial Link
Ask your OPAFS accountant or use the Document Lookup Tool for any correspondence regarding A/R
If there is outstanding A/R, work with your PI to slow/stop work until payment resolution

Reminders



Please send a copy of Department prepared invoices to OPAFS
Checks need to be made payable to “Regents of the University of
California” and sent to the Cashier’s Office at:
Regents of the University of California
UCSD – Cashiers Office MC 0009
9500 Gilman Dr.
La Jolla, CA 92093-0009
Do not send checks to OPAFS


Consult with your OPAFS Accountant on how to complete a deposit advice
Do not deposit to 637670 CASH RECEIPTS-EXPENDITURE CREDITS