Policy: 401-A/R, Invoicing, Collections
Date: 11/05/03
Statement of Policy:
An accounts receivable system must be operated on a consistent basis to increase the rate of recovery of receivables. Regular invoicing on prenumbered, multipart invoices will reduce the likelihood of lost charges from nonpayment on services performed. The use of prenumbered, multipart invoices provides numerical control, supporting documents for follow-up, and an audit trail. Effective maintenance of an accounts receivable system also requires consistent, timely follow-up on unpaid invoices.
Related Procedure(s):
Who should know this policy?
Deans, Directors, and staff handling accounts receivable invoicing and collections.
Related Documents:
Collection Letter Word Document
Delegation of Collections Functions Word Document
Collection Agency Form Word Document
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