RF Past Due Invoice

Description

Purpose

The Oracle Accounts Receivable (AR) module maintains detailed information on AR invoices that have been paid in full or have an outstanding balance due. The Research Foundation (RF) customized the RF Past Due Invoice Report to provide the total outstanding AR invoices based on an award, location, customer, collector, and/or balance due for a specified date.

This report can be sorted by customer or balance due (choose in order by parameter). When run by customer, subtotals are displayed by customer between each section.

A summary of parameters selected is provided at the beginning of the report. This report is used to monitor open AR invoices that have amounts past due and to determine appropriate action with the sponsor (e.g. collection call to sponsor, dunning letter, refund to sponsor, etc.).

Frequency

This report should be run on a monthly basis and as needed by the staff responsible for reviewing past due invoices.

Responsibilities with Access

Setting Report Parameters

The following table describes the required and optional parameters to use to run the report:

Parameter

Description
(click in the field to see the List of Values)

Required Parameters

Order By

The Sort Order option

Can be sorted either by Balance Due or Customer

Terms

The output options for data. Select one of the following:

  • ALL (All payment term types)
  • ALL BUT LOC (All payment term types but LOC)
  • LOC ONLY (LOC payment terms only)

Optional Parameters

Balance Due Low

The outstanding balance The top of range for criteria

 

Note: For all outstanding balances, leave blank.

Balance Due High

The outstanding balance The bottom of range for criteria

Note: For all outstanding balances, leave blank.

Customer Name Low

The customer name that is associated with the award for which the AR invoice was generated - Top of alphabetical range for criteria

Customer Name High

The customer name that is associated with the award for which the AR invoice was generated - Bottom of alphabetical range for criteria

Days Late Low

The number of days the AR invoice is past due (days late) Lowest value for range

Days Late High

The number of days the AR invoice is past due (days late) Highest value for range

Location

The three-digit location code assigned to a campus (operating location). Security will limit location access

Award

The award number associated with AR invoice

Understanding the Output

The following table describes the report output:

Column Heading

Description of Column

Invoice Number

The AR Invoice Number - The invoice number that the Accounts Receivable module assigns once an invoice is approved and released or the invoice number that is assigned to an advance invoice created in AR

Award Number

A unique sequential number assigned to an award. An award is the record established from the award notice or contract received from a customer. An award record contains a funding source (customer), award amounts (funds), start and end dates, terms and conditions, and other information. Awards are used to fund one or more projects.

Award Org

The department or organization associated with the award for which the invoice was generated

Billing Cycle

The frequency of AR invoice generation. For example: Last Day of the Month, Qtr End FEB, MAY, AUG, NOV, etc.

Invoice Date

The date the invoice was released in Grants or the date the advance invoice was created in AR.

 

Note: This field can be changed by user when releasing.

Due Date

A value based on the billing terms of the award and invoice date

Invoice Amount

The amount for which the AR invoice was originally generated

Current Balance Due

The amount remaining outstanding (either above or below the original invoice amount)

Days Past Due

The number of days past due based on the billing terms of the award and invoice date

Last Call Date

If one or more Customer Call records have been entered on the past due invoice, the date of the last call will appear.

Follow Up Date

If one or more Customer Call records have been entered on the past due invoice, the last follow up date entered will appear.

Helpful Tips

Effective Date: 4/26/2007 12:22:03 PM