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<p class="MsoNormal">Good morning,<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">The Business Affairs Office 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 be recognized when the product is delivered or the services are provided, not when payment is received.
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><a name="_Hlk42246150">Departments that sell products or provide services should accrue amounts owed to them by customers external to the UO. Due to business interruptions from COVID19, extra scrutiny of accounts receivable balances is
necessary - amounts that are not collectible should be written off. <o:p></o:p></a></p>
<span style="mso-bookmark:_Hlk42246150"></span>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Accounts receivable for revenue earned during FY21 and write offs of uncollectible amounts should be recorded in Banner before fiscal period 12 (FP12) closes
<b>Thursday, July 8th at 5:00 p.m.</b> Our goal is to have all June and remaining FY21 activity recorded in FP12. 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.
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><b>Monday, July 19th is the deadline</b> for departments to submit the required detail and aging report of non-SIS AR.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<ul style="margin-top:0in" type="disc">
<li class="MsoNormal" style="mso-list:l0 level1 lfo1">The report total should match FY21 Banner general ledger ending non-SIS AR balances.<o:p></o:p></li><li class="MsoNormal" style="mso-list:l0 level1 lfo1">Submit revised reports for any additional FP14 activity.<o:p></o:p></li><li class="MsoNormal" style="mso-list:l0 level1 lfo1">The report must include the amount, who it is due from, a description of the goods or services, and the date they were provided.<o:p></o:p></li><li class="MsoNormal" style="mso-list:l0 level1 lfo1">To review general ledger accounts, use FGITBAL/FGIGLAC or FWIGLDD.<o:p></o:p></li><li class="MsoNormal" style="mso-list:l0 level1 lfo1">Please email reports to <a href="mailto:rchoward@uoregon.edu">
rchoward@uoregon.edu</a><o:p></o:p></li></ul>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Common non-SIS AR account codes:<o:p></o:p></p>
<ul style="margin-top:0in" type="disc">
<li class="MsoNormal" style="mso-list:l1 level1 lfo2">A3101 - Misc Advances Receivable-Non SIS<o:p></o:p></li><li class="MsoNormal" style="mso-list:l1 level1 lfo2">A3103 - Misc A/R<o:p></o:p></li><li class="MsoNormal" style="mso-list:l1 level1 lfo2">A3106 - Sundry Receivable<o:p></o:p></li><li class="MsoNormal" style="mso-list:l1 level1 lfo2">A3110 - Travel Advance Receivable-Non SIS<o:p></o:p></li><li class="MsoNormal" style="mso-list:l1 level1 lfo2">A3702 - AR from Affiliated Foundation<o:p></o:p></li></ul>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">For more information, please visit our websites listed below.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Year End closing deadlines, procedures, forms and year end training:
<a href="https://ba.uoregon.edu/finance-and-accounting/closing-procedures">https://ba.uoregon.edu/finance-and-accounting/closing-procedures</a>
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">2021 AR Year End Report Form: <a href="https://pages.uoregon.edu/baoforms/bao_drupal_6/sites/ba.uoregon.edu/files/forms/yearendar.xlsx">
Year End Accounts Receivable Form</a> <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">General AR instructions: <a href="https://ba.uoregon.edu/content/accounts-receivable-non-student">
Accounts Receivable (non-student) | Business Affairs</a><o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Thank you,<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">BAO Financial Services Department<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Robbin Howard, 6-1115, <a href="mailto:rchoward@uoregon.edu">
rchoward@uoregon.edu</a><o:p></o:p></p>
<p class="MsoNormal">Jill Ritz, 6-1256, <a href="mailto:jritz@uoregon.edu">jritz@uoregon.edu</a><o:p></o:p></p>
<p class="MsoNormal">Phil Davis, 6-3524, <a href="mailto:pdavis@uoregon.edu">pdavis@uoregon.edu</a><o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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