Year-End Departmental Accounts Receivable

[Business Affairs Office News]

Good afternoon,

The Business Affairs Office Financial Services Department would like to remind University of Oregon personnel of important year-end procedures regarding non-student system (non-SIS) accounts receivable (AR). According to Generally Accepted Accounting Principles (GAAP), accrual accounting requires revenue be recognized 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 UO.

Accounts receivable for revenue earned during FY19 should be recorded in Banner before fiscal period 12 (FP12) closes Tuesday, July 9th at 5:00 p.m.  Our goal is to have all June and remaining FY19 activity recorded in FP12.

Wednesday, July 17th is the deadline for departments to submit the required detail and aging report of non-SIS AR.

*         The report total should match FY19 Banner general ledger ending non-SIS AR balances.

*         Submit revised reports for any additional FP14 activity.

*         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>

It is important that receivable amounts are reviewed for accuracy and adjusted or written off as appropriate. If you find amounts that are not collectible, please contact us for assistance.

We recommend you reconcile non-SIS AR banner balances to detailed AR listings at the close of FP11 as preparation for the year-end requirements above.  FP11 closes Friday, June 7th.

Common non-SIS AR account codes:

Account Code

Title

A3101

Misc Advances Receivable-Non SIS

A3103

Misc A/R

A3106

Sundry Receivable

A3110

Travel Advance Receivable-Non SIS

A3702

AR from Affiliated Foundation


For information and procedures on how to recognize revenue and accrue AR please visit the Business Affairs website.

Year End closing deadlines, procedures, forms and closing of the books PowerPoint
Closing Procedures | Business Affairs<https://ba.uoregon.edu/finance-and-accounting/closing-procedures>

2019 AR Year End Report Form
Year End Accounts Receivable Form<file://files/bao-common/Accounting%20Dept/Misc%20AR/FY19/BAO%20News%20&%20group%20email%20AR%20rept%20request/AR%20Aging%20Report.xlsx>

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

Thank you,

BAO 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>

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