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Accounts Receivable | Finance Department
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Accounting & Reporting</a></li> <li class="active last">Accounts Receivable</li> </ol> </div> <div class="row"> <div class="col-md-12 col-lg-12 uw-content-area"> <!-- Main content area --> <span id="main-content"></span> <h1 class="page-header">Accounts Receivable</h1> <div class="region region-content"> <div id="block-system-main" class="block block-system block-no-title"> <article class="node-311 node node-page clearfix" about="/finance/cash-and-accounts-receivable" typeof="foaf:Document"> <header> <!-- <h1>Accounts Receivable</h1> --> <span property="dc:title" content="Accounts Receivable" class="rdf-meta element-hidden"></span><span property="sioc:num_replies" content="0" datatype="xsd:integer" class="rdf-meta element-hidden"></span> </header> <div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"><h2>Mission & Vision</h2> <p>The Accounts Receivable department is responsible for the processing of non-student payments and invoices for the University.<br /> All forms are in PDF format unless otherwise noted.</p> <p> </p> <hr /> <h2>Deposit Funds</h2> <p>If you wish to deposit your departmental revenue, use the <strong><a href="https://www.uwindsor.ca/finance/sites/uwindsor.ca.finance/files/ar01_ardeposit_20200309.pdf">Deposit Form</a></strong>. Please ensure that you are following the <strong><a href="https://www.uwindsor.ca/finance/sites/uwindsor.ca.finance/files/cash_handling_policy_-_2020-08-14__0.pdf">Cash Handling Policy</a>.</strong></p> <p> </p> <hr /> <h2>AR Invoice Request</h2> <p>If you have provided goods or services to a customer, and require an invoice to be sent, please use the <a href="https://www.uwindsor.ca/finance/sites/uwindsor.ca.finance/files/ar_02_invoice_request_form_20200309.xls" target="_blank"><strong>Invoice Request Form (Excel format)</strong></a> to request this invoice. Once the invoice request is received and processed, your account will be immediately credited for the invoice amount and is no longer considered payable to you. </p> <p>On the invoice, your customer is given instructions to send their payment directly to the Accounts Receivable department.<strong> If you receive a payment for an invoice directly, please contact the Accounts Receivable office prior to depositing</strong>. Send all completed invoice request forms to <strong><a href="mailto:arinv@uwindsor.ca">arinv@uwindsor.ca</a></strong></p> <p>The University receives revenues from a variety of different sources all across campus. Revenue is recorded in the system in 4 ways depending mainly on materiality. For the most part, each department is responsible for recording their revenue whether that be through an integrated system, a deposit summary form, an invoice request, a deposit form or a journal entry.</p> <h3><strong>Here are the 4 ways Revenue is Recorded:</strong></h3> <div aria-multiselectable="true" class="panel-group" id="collapse1712924907200" role="tablist"> <div class="panel panel-default"> <div class="panel-heading" id="heading1712924907200_1" role="tab"> <div class="panel-title"><a aria-controls="collapse1712924907200_1" aria-expanded="false" class="collapsed" data-parent="#collapse1712924907200" data-target="#collapse1712924907200_1" data-toggle="collapse" href="javascript:void(0)">Invoices </a></div> </div> <div aria-labelledby="heading1712924907200_1" class="panel-collapse collapse" id="collapse1712924907200_1" role="tabpanel"> <div class="panel-body">The first way that revenue is recorded is through an invoice. This is by far the most preferred method for a variety of reasons. Invoice forms should be filled out in their entirety and sent to ARINV@uwindsor.ca. They can be found under AR Invoice Request. Research invoicing is sent to RESINV@uwindsor.ca and should always be sent to research finance prior to sending to Accounts Receivable. The main reasons why finance and your departments should prefer recording revenue through an invoice are: Your department receives the revenue in their account as soon as it is invoiced so you do not have to await payment before recording the revenue Follow-up for payment resides within the A/R department and Finance (unless additional support is required and you will be notified as such) Most cheques and payments come directly to finance so there is no delay in the University trying to apply payment to a department they are unaware is owed the money. The Accounts Receivable system allows for more detailed information for you and better means of reporting for the University as a whole. It is increasingly necessary to have accurate records of revenue received due to our SMA3 government funding metrics. NOTE: It is very important that any invoicing done by ANY department at the University be recorded through Accounts Receivable. There should NEVER be an invoice sent to an external party on behalf of the University of Windsor outside of UWinsite Finance and the A/R department.</div> </div> </div> <div class="panel panel-default"> <div class="panel-heading" id="heading1712924907200_2" role="tab"> <div class="panel-title"><a aria-controls="collapse1712924907200_2" aria-expanded="false" class="collapsed" data-parent="#collapse1712924907200" data-target="#collapse1712924907200_2" data-toggle="collapse" href="javascript:void(0)">Receipts </a></div> </div> <div aria-labelledby="heading1712924907200_2" class="panel-collapse collapse" id="collapse1712924907200_2" role="tabpanel"> <div class="panel-body"> <ol> <li>The second way revenue is recorded is through processing a receipt. This is done when you are receiving a cheque <strong>and have not previously invoiced</strong>. <ol> <li>You may receive cheques for a variety of payments. Depending on your monthly volume of revenues, you may have been issued a deposit summary form by the finance department to be sent weekly to Accounts Receivable.</li> <li>If you receive cheques infrequently or smaller amounts (below $10,000 per month), you are required to send the money to Accounts Receivable along with a filled out Deposit form. This can be found under <a href="https://www.uwindsor.ca/finance/sites/uwindsor.ca.finance/files/ar01_ardeposit_20200309.pdf">Deposit Funds</a>. All non-cash deposits can be sent the Accounts Receivable, CHT 4th Floor.</li> <li>Any cheques you receive that you’ve sent an invoice request in can simply be forwarded to Accounts Receivable. No forms are necessary.</li> <li>Any cheques exceeding $10,000 will also be recorded as an invoice for reporting purposes.</li> </ol> </li> </ol> <p>NOTE: For everyone’s safety, please do not send cash through inter-office mail. Please note our <a href="https://www.uwindsor.ca/finance/sites/uwindsor.ca.finance/files/cash_handling_policy_-_2020-08-14__0.pdf"><strong>Cash Handling Policy</strong></a> if you have any questions or concerns.</p> </div> </div> </div> <div class="panel panel-default"> <div class="panel-heading" id="heading1712924907200_3" role="tab"> <div class="panel-title"><a aria-controls="collapse1712924907200_3" aria-expanded="false" class="collapsed" data-parent="#collapse1712924907200" data-target="#collapse1712924907200_3" data-toggle="collapse" href="javascript:void(0)">Journal Entry or Deposit Summary </a></div> </div> <div aria-labelledby="heading1712924907200_3" class="panel-collapse collapse" id="collapse1712924907200_3" role="tabpanel"> <div class="panel-body"> <ol> <li>The third way to record revenue is through a journal entry or deposit summary. This would apply to those departments that have applied for their own deposit forms with brinks night deposit bags and/or have their own POS machines. Your deposit will be done through a deposit summary (which finance would provide) if the volume of revenue exceeds $10,000 per month on average. Otherwise, for each deposit form a journal entry form will need to be submitted preferably within 5 business days and/or 4 days after the end of the month to ensure it is recorded as revenue in the appropriate month and matches the bank activity. The journal entry form can be found <a href="https://www.uwindsor.ca/finance/sites/uwindsor.ca.finance/files/journalentry.xlsx">here</a>. You may also be required to do a journal entry for any items received through EFT payments. *** NOTE – All remittances should at a minimum be copied to <a href="mailto:eftpmt@uwindsor.ca">eftpmt@uwindsor.ca</a>. A remittance is a notification from the party you will be receiving money from that notifies you that the money has been deposited/sent.</li> </ol> </div> </div> </div> <div class="panel panel-default"> <div class="panel-heading" id="heading1712924907200_4" role="tab"> <div class="panel-title"><a aria-controls="collapse1712924907200_4" aria-expanded="false" class="collapsed" data-parent="#collapse1712924907200" data-target="#collapse1712924907200_4" data-toggle="collapse" href="javascript:void(0)">Integration of External Systems </a></div> </div> <div aria-labelledby="heading1712924907200_4" class="panel-collapse collapse" id="collapse1712924907200_4" role="tabpanel"> <div class="panel-body"> <p>The fourth way and the most efficient is through an integration of any external systems. This would include ecommerce websites, Azzier work order, Activenet, etc. These items flow through nightly in most cases automatically and get posted as a journal entry.</p> </div> </div> </div> </div> <p> </p> <p>Please keep in mind, if you are expecting a payment large or small through EFT, please email <a href="mailto:eftpmt@uwindsor.ca">eftpmt@uwindsor.ca</a> to ensure we know who the item belongs to and can watch for it for you. The University receives thousands of transactions daily through our banks and we rely on each department to remain up to date on their revenue recordings received in the bank.</p> <p>We are happy to assist you with any tax implications for your invoicing. Download the <a href="/finance/sites/uwindsor.ca.finance/files/quick_guide_-_taxable_revenue_and_exemptions.pdf" target="_blank"><strong>Quick Reference Guide for Taxes on Revenues</strong></a> to get help with correct tax treatment for invoices.</p> <p> </p> <hr /> <h2>Daily Exchange Rate for Deposit of US Funds</h2> <p>The Accounts Receivable department will apply the exchange rate posted on the website and applied in UWinsite. <strong><a href="/finance/cash-and-accounts-receivable/daily-exchange-rate" target="_blank"> View today's exchange rate</a></strong>.The rate is adjusted each week on Monday's (or the first available business day) at 11:00 am. The rate used is based on the Bank of Canada average of the previous week adjusted for risk of daily movement. If the number is greater than 1.00, the US dollar is worth more than the Canadian dollar. If the number is less than 1.00, the US dollar is worth less than the Canadian dollar.</p> <p> </p> <hr /> <h2>Contact Information</h2> <p><strong>Gail Puskas</strong><br /> Receivable Clerk<br /> University of Windsor<br /> Chrysler Hall Tower<br /> 401 Sunset Avenue<br /> Windsor, Ontario N9B 3P4<br /> (519) 253-3000, ext. 2125<br /> <strong><a href="mailto:Dannielle.Quenneville@uwindsor.ca">Gail.Puskas@uwindsor.ca</a></strong></p> </div></div></div></article><!-- /.node --> <div class="links"> </div> </div><!-- /.block --> </div> <div class="social-share-container hidden-xs hidden-sm"> <ul class="social-share-icon-container"> <li> <a href="https://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fwww.uwindsor.ca%2Ffinance%2Fcash-and-accounts-receivable" target="_blank" title="Share us on Facebook"> <em class="fa fa-brands fa-facebook"></em><span class="">share</span> </a> </li> <li> <a href="https://twitter.com/intent/tweet/?&url=https%3A%2F%2Fwww.uwindsor.ca%2Ffinance%2Fcash-and-accounts-receivable" target="_blank" title="Share us on X (Twitter)"> <em class="fa fa-brands fa-x-twitter"></em><span class="">post</span> </a> </li> <li> <a href="https://www.pinterest.com/pin/create/button" data-pin-do="buttonBookmark" data-pin-custom="true" target="_blank" title="Share us on Pinterest"> <em class="fa fa-brands fa-pinterest"></em><span class="">save</span> </a> </li> </ul> </div> </div> <!-- Mobile sidebar first --> <!-- right sidebar if it has blocks --> </div> </div> <div class="social-share-container container visible-xs visible-sm"> <ul class="social-share-icon-container"> <li> <a href="https://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fwww.uwindsor.ca%2Ffinance%2Fcash-and-accounts-receivable" target="_blank" title="Share us on Facebook"> <em class="fa fa-brands fa-facebook"></em><span class="">share</span> </a> </li> <li> <a href="https://twitter.com/intent/tweet/?&url=https%3A%2F%2Fwww.uwindsor.ca%2Ffinance%2Fcash-and-accounts-receivable" target="_blank" title="Share us on X (Twitter)"> <em class="fa fa-brands fa-x-twitter"></em><span class="">post</span> </a> </li> <li> <a href="https://www.pinterest.com/pin/create/button" data-pin-do="buttonBookmark" data-pin-custom="true" target="_blank" title="Share us on Pinterest"> <em class="fa fa-brands fa-pinterest"></em><span class="">save</span> </a> </li> </ul> </div> </div> </div> </div> <footer class="footer"> <div class="container hidden-xs hidden-sm"> <img src="/finance/sites/all/themes/uwindsor_bootstrap/images/uwindsor_shield.svg" onerror="this.onerror=null; 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