Accounts Receivable

What happens if my customer makes a duplicate payment against their account? Will he/she receive a refund?

When a customer makes a duplicate payment, it is placed “On Account”(an Oracle term) indicating the amount is due to the customer. The credit is available for the customer to use against future invoices or to apply to the net balance reflected on their monthly statement.

An AR cash applicator reviews the customer’s account each month to determine if the “on account “ credit has been or may be used against current charges. If, at the end of three months, the credit has not been applied to any charges, the amount will be refunded or held for another thirty days. The decision whether...

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I received an invoice/statement billing me personally for charges that should be paid by my department, what should I do?

You may have an authorized signer (for the account to be charged) sign the invoice or statement requesting us to charge the account. Please write down the 33 digit account number to be charged and return the invoice/statement via university mail. You may also fax the request to (617) 496-5632. Please remember to include a legible signature and a contact telephone number so that Central AR may contact you for further information if needed. Remember that the authorized signer cannot be the individual incurring the charge.

When are invoices charged back to bad debt expense?

The bad debt write-off policy will affect unpaid invoices once they become 270 days old. In Short, invoices become eligible for bad debt write-off 9 months from the original invoice date. Therefore, to ensure that your invoices are not written off to bad debt expense, local units should be reviewing the status of their accounts on a regular basis. If prior to the write off, a local unit believes that an invoice will be collect in the near future, the local unit may request than an invoice remain open for an additional thirty days. These requests must be submitted to and approved by...

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