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Policy 2.29
General Accounts Receivable Policy

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Responsible Official: Vice President for Finance/Chief Finance Officer
Administering Division/Department: General Accounts Receivable
Effective Date: March 22, 2007
Last Revision: March 28, 2007

Policy Sections:

Overview

To ensure that the University is paid for services rendered by maintaining accurate billing and timely collection for services provided by University departments and services utilized by Emory affiliated organizations.

Emory University General Accounts Receivable department is responsible for billing and collecting on services provided by University departments and services utilized by Emory-affiliated organizations 

Policy Details

2.29.1 Emory Departments

2.29.1.1 Steps required for departments at Emory University to set up billing

2.29.2 Affiliates

2.29.2.1 Agency Fee

2.29.2.2 Agency Account Procedures

2.29.2.3 Steps required for Affiliates to set up billing

2.29.3 Georgia Sales Tax


2.29.1 Emory Departments

Departments are able to submit invoices to General Accounts Receivable for various services such as physician services, patent agreements and research supplies, etc.  The department prepares the invoices and sends the original to the customer.  A copy is then sent to our office for processing by the 25th day of the current month.   The department receives credit throughout the month as processing occurs in their FAS account.  Departments are responsible for providing a valid FAS account number on each invoice.  All invoices must be submitted to General Accounts Receivable by the 25th day of the month.  If the 25th falls on a weekend or university holiday, invoices must be submitted the preceding business day.

Payments are directed to General Accounts Receivable office for posting to the customer account.  We accept payment in the form of cash, check and wire transfer.

Wire Transfer Instructions:

Bank Name: Wachovia Bank
Domestic ABA: 061-000-227
International SWIFT:  PNBPUS33
Account Name: Emory University Operating
Account Number: 2000070083136
Reference: Include invoice number or Emory Contact Name

    

Monthly statements are generated and sent to customers having an outstanding balance.  Past due accounts are reviewed monthly and follow-up collection efforts are made.  Departments are provided Aged Receivable reports monthly for their review.  Once an account becomes 6 months past due, the invoice is charged back to the department.

 

2.29.1.1 Steps required for departments at Emory University to set up billing

  1. Departments must have a revenue/income account on FAS.  If not, then a “Request To Create An Account” form must be submitted by the sponsor to the Controller’s Office.  You can obtain this form at the Finance Division website.
  2. Contact Sonya Hearn in the Bursar's office for invoice forms.

 

2.29.2 Affiliates

 

Affiliates are companies which have a signed contractual agreement with Emory to utilize one or more University services.  The agreement is negotiated with the Emory legal department.  An Account Create form is submitted to the Controller’s Office to establish an agency (9-ledger) account with Emory University.   To find the form, please see the Finance Division website under Forms.  This account will allow charges to accrue and will be billed the following month.  Agency accounts are required to have an Emory department sponsor.  The sponsor’s primary role is to ensure that the account remain in good financial standing with the University.  This involves monitoring the activity within the account via the Emory Finance Division website, researching and resolving any questionable items and providing written notification of address changes.  Once the account is set up and the affiliate is given the account number, the account administrator(s) must contact the Emory Controller’s Office for access to the Finance Division website and online reports.

2.29.2.1 Agency Fee

The administrative and support costs incurred by Emory for maintaining the account is the agency fee.  This agency fee is assessed monthly at the current rate of 4.5% of the charges on the account.  The agency fee is subject to change annually.

 

2.29.2.2 Agency Account Procedures

Invoices are generated and mailed to the customer the first week of every month and payments are due by the 25th.  Monthly statements are sent to customers having an outstanding balance.

Payments are directed to General Accounts Receivable office for posting to the customer account.  We accept payment in the form of cash, check and wire transfer.

Wire Transfer Instructions:

Bank Name: Wachovia Bank
Domestic ABA: 061-000-227
International SWIFT:  PNBPUS33
Account Name: Emory University Operating
Account Number: 2000070083136
Reference: Include invoice number or Emory Contact Name

 

Monthly statements are generated and sent to customers having an outstanding balance.  It is also necessary to have access to our Finance Division website to view the FAS account transactions.

Past due accounts are reviewed monthly and follow-up collection efforts are made.   Agency accounts cannot carry a deficit balance; alternate funding must be available.

 

2.29.2.3 Steps required for Affiliates to set up billing

  1. Communicate with the Finance Division and Emory General Counsel to initiate the agreement.  The Affiliate must be sponsored by a department or dean at Emory University.
  2. Set up an agency account by submitting a “Request to Create An Account” form to the Controller’s Office.  Assign Account Administrators on this form.
  3. Set up access to the Finance Division website to view account transactions and details.

 

2.29.3 Georgia Sales Tax

Georgia State sales tax will be assessed on all purchases of tangible, personal property charged to the affiliate account.  Sales tax charges will normally appear in your account one month after the purchase of the goods.  In order to be exempt from the sales tax charges, a written exemption from the State of Georgia Sales Tax Commission must be on file with our office.  An organization does not qualify to be exempt from state sales tax simply by being a tax exempt organization under Federal Income Tax regulations.

Related Links

Contact Information

SubjectContactPhoneEmail
General Accounts Receivable  Sonya Hearn  404-727-4024  slhearn@emory.edu 

Revision History