Year-End Departmental Accounts Receivable Deadlines

[Business Affairs News]

Good morning,

The Business Affairs Financial Services Department would like to remind University of Oregon personnel of important year-end procedures regarding non-student information system (non-SIS) accounts receivable (AR). According to Generally Accepted Accounting Principles (GAAP), accrual accounting requires revenue to be recorded in the fiscal year and period when the product is delivered or the services are provided, not when payment is received.

Departments that sell products or provide services should accrue amounts owed to them by customers external to the UO.

Tuesday, July 11th 5:00 p.m. is the deadline to record accounts receivable for revenue earned during FY23 and write offs of uncollectible amounts in fiscal period 12 (FP12). Extra scrutiny of accounts receivable balances is necessary due to business interruptions from COVID19 and amounts that are not collectible should be written off. Our goal is to have all June and remaining FY23 activity recorded in FP12.

Wednesday, July 12th is the deadline for departments to submit the required detail and aging report of non-SIS AR.


  *   The report total should match FY23 Banner general ledger ending non-SIS AR balances.
  *   The report must include the amount, who it is due from, a description of the goods or services, and the date they were provided.
  *   To review general ledger accounts, use FGITBAL/FGIGLAC or FWIGLDD.
  *   Please email reports to rchoward at uoregon.edu<mailto:rchoward at uoregon.edu>

Common non-SIS AR account codes:

  *   A3101 - Misc Advances Receivable-Non SIS
  *   A3103 - Misc A/R
  *   A3106 - Sundry Receivable
  *   A3110 - Travel Advance Receivable-Non SIS
  *   A3702 - AR from Affiliated Foundation

Monday, July 24th is the deadline to submit the required updated department non-student accounts receivable detail and aging reports that include fiscal period 14 activity.

For more information, please visit our websites listed below.

Year End closing deadlines, procedures, forms and year end training:  Closing Procedures & Deadlines<https://ba.uoregon.edu/finance-and-accounting/closing-procedures>

AR Year End Report Form:  Year End Accounts Receivable Form<https://forms.uoregon.edu/document/launch/year-end-accounts-receivable>

General AR instructions: Accounts Receivable (non-student) | Business Affairs<https://ba.uoregon.edu/content/accounts-receivable-non-student>

Thank you,

Business Affairs Financial Services Department

Robbin Howard, 6-1115, rchoward at uoregon.edu<mailto:rchoward at uoregon.edu>
Jill Ritz, 6-1256, jritz at uoregon.edu<mailto:jritz at uoregon.edu>
Phil Davis, 6-3524, pdavis at uoregon.edu<mailto:pdavis at uoregon.edu>

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://lists.uoregon.edu/pipermail/ba-news/attachments/20230706/ac2ca063/attachment.html>