300.3 Billings & Statements

The University is responsible for sending periodic billings and/or statements to customers.  The central business office must document policies that determine the frequency and tracking methods for periodic billings. The University business officer determines the following:

• Design of billings and statements. 
• Most effective and efficient process (e.g., mail, email, website updates) for sending billings and/or statements, and the number of copies to be sent. 
• The frequency of billings and statements may vary depending on the types of receivables and the dollar amount. 
• The business officer or designee must track when billings and statements are sent. 
• The content and timing of the billings and statements will comply with federal and state laws and regulations.
• Internal business office policies shall specify under which circumstances billings or statements are not generated.

RECEIVING AND PROCESSING PAYMENTS: Cash receipts shall be deposited promptly and entered into the accounting records in accordance with requirements established. For more information, please see the procedures manual.