Accounts Receivable (A/R), Invoicing, Collections

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Policy Number:

UW-3028

Old Policy Number:

401

Responsible Office:

Accounting Services, Division of Business Services

University Policy

Scope:

Applies to deans, directors, and staff handling accounts receivable invoicing and collections.

Policy:

It is the responsibility of the University of Wisconsin to establish the terms and/or conditions for payment at the time an account is created and to follow up routinely and diligently on all accounts receivable. UW–Madison states that all invoices to external customers for the sale of goods or services must be collected within 30 days. Those invoices that have not been collected within 30 days are considered past due. Once an invoice is past due, follow accounts receivable collection procedures.

Refer to UW System Administrative Policy 326 – Collections and Write-Offs.

External References:

UWS 326 - Collections and Write-Offs

Policy Administration

Approval Authority:

Assistant Vice Chancellor & Controller

Policy Manager:

Director of Disbursement Services

Contact:

Compliance Specialist II -- Janet Hamm, janet.hamm@wisc.edu, (608) 265-2909

Effective Date:

05-05-2003

Revised Dates:

05-05-2003

Retrieved:

04-19-2024 23:11:31