Departmental A/R Responsibilities & the Open Item Aging Report

Duration: 2 hours
Format: Lecture + Demonstration

This workshop provides a review of departmental A/R responsibilities when processing external revenues and recoveries and an introduction to the Accounts Receivables Open Item Aging Report.

Topics Include:

• Identify your departmental Accounts Receivable (A/R) financial management and accounting responsibilities
• Understand the Cost, Benefits and Risks of Invoicing External Customers
• Generate the Open Item Aging Report using required and optional Selection Criteria
• Use the Open Item Aging Report to ensure that invoices are paid in a timely manner and to prevent chargebacks
• Locate overdue A/R invoices posted to your departmental accounts

Note: This workshop focuses on external sources of revenue and expense recoveries. If you are interested in learning about internal revenue and expense recoveries (i.e., between U of T departments), please attend the G/L Account Posting – Basic Data Entry course.

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