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Receipts-Adjustments

Receipts-Adjustments: Flowchart Start Receipt Creator Task #1 Decision Receipt Creator Task #2 Decision Receipt Creator Task #3 Decision Receipt Creator Task #4 Reverse Decision Receipt Creator Task #5 End Receipt Creator Task #6 Receipts Receipt Creator Task #7 End Receipt Creator Task #8 Flowchart 2 Flowchart 2

Receipts-Adjustments: Flowchart Decision Receipt Creator Task #9 Applications Receipt Creator Task #10 Receipt Creator Task #11 End Flowchart 1

Scope

This procedure covers receipt adjustments.

This procedure does not cover issuing Credit Memos or transaction adjustments. Refer to Transaction-Correction.

System References

Receipts-Entering and Applying

Receipts-Reversing

Receipts-Unapplying

Policy

Responsibility

The AR Receipts Specialist is responsible for entering receipt adjustments in the database.

The AR Manager is responsible for approving all corrections to receivable accounts.

Distribution

AR Administrator*

AR Manager*

AR Receipts Specialist

Ownership

The AR Manager is responsible for ensuring that this document is necessary, reflects actual practice, and supports University policy.

Activity Preface

This activity is performed whenever a receipt requires adjustment.

The field to be adjusted and the relationship to the GL posting date will determine the method of adjustment.

The job title Receipt Creator refers to the following:

Receipt Creator

1.   Determine why receipt requires adjusting.

If receipt requires adjusting due to non-sufficient funds, goto task #4.  Otherwise, goto task #2.

2.   Determine location of error.

If correction is to Receipt Amount in the receipt header information area, goto task #3.  Otherwise, goto task #8.

3.   Determine if the receipt has been posted to the General Ledger.

If the receipt has been posted to the General Ledger or was printed, goto task #4  Otherwise, goto task #9.

Receipts are posted to the General Ledger on a nightly basis.

4.   Reverse the receipt.

Receivables
N ® Receipts ® Receipts Summary
B ® Reverse
Reverse

Refer to Receipts-Reversing.

If you reversed the receipt due to non-sufficient funds, goto task #5.  Otherwise, goto task #6.

5.   Inform department responsible for the transaction.

Inform the AR Billing Specialist that the check was returned for non-sufficient funds.

End of activity.

6.   Create a new receipt.

Receivables
N ® Receipts
Receipts

Refer to Receipts-Entering and Applying.

7.   Apply the receipt.

End of activity.

8.   Determine if correction is in other fields in receipt header information area.

If correction is to information other than Receipt Amount in receipt header information area, goto task #4. 

If correction is to customer information or to correct misapplication of the receipt , goto task #9.

9.   Unapply the receipt.

Receivables
N ® Receipts ® Receipts Summary
B ® Applications
Applications

Refer to Receipts-Unapplying

10. Edit the information as necessary.

11. Reapply the receipt.

End of activity.

Effective: 08/13/04

Revision: 2

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