RADAR

A correction to errors in amounts invoiced (e.g., incorrect rate charged for a service, incorrect quantity ordered).

The invalidation of an invoice when an error has been made on the bill. Examples include incorrect customer, contact, or location defined on the bill or a duplicate bill already invoiced.

A reduction to the customer account receivable balance. An example would be a discount for early payment.

An increase to the customer account receivable balance. An example would be a fee for a payment that was returned for insufficient funds.

A two-character numeric designation for each school/college or non-academic division within a Unit (UDDS). Division is the second and third characters of a UDDS.

Customers whose invoices generate an accounts receivable balance. Examples include all private companies, organizations, individuals, state agencies, external sponsors, and other UW institutions.

A period that an organization uses for accounting purposes and preparing financial statements. For the university, the fiscal year is from July 1 - June 30 (i.e., FY2016 = July 1, 2015 to June 30, 2016). Summer is the first term in the university fiscal year.

Customers whose invoices do not generate an accounts receivable balance when generated. Examples include all departments at UW-Madison.

A bill that is delivered to the customer with a balance due.

A transaction to match credit or debit memos with invoices or payments to zero out balances.

Money received from a customer for services rendered or products received.

Money received from the customer when it is unclear what the money is intended to pay, or is a duplicate payment. Money is placed on a customer's account until it can be determined what to do with the funds.

A process to transfer payments posted in Accounts Receivable to a department elsewhere on campus.

An uncollectible outstanding balance for an invoice that reduces the customer account receivable balance, can be processed with a credit memo. Examples include a customer in bankruptcy or deceased, or the debt has reached the age where we can no longer attempt to collect payment (statute of limitations).