Accounts Receivable and Collections Accounting Changes [8/4/09]
As of July 1 the Accounts Receivable Collections System (ARCS) was replaced with the PeopleSoft Student Information System (SIS). All of the former ARCS accounting and reporting functionality is now handled by SIS. Below are highlights of the changes you will see. Click specific items to skip to a section of interest .
- NEW PROCEDURE TO TRANSFER CHARGES TO ACCOUNTS RECEIVABLE
- IMPROVED RECEIVABLE REPORTS
- NEW RECEIVABLE ONLINE INQUIRIES
- RECEIVABLE GENERAL LEDGER ACCOUNT NUMBER CHANGE
- RECEIVABLES TRANSFER OF CHARGES FROM ARCS TO SIS
- TRANSFER OF PAST DUE TUITION & FEES - NO LONGER NEEDED
NEW PROCEDURE TO TRANSFER CHARGES TO ACCOUNTS RECEIVABLE:
The method of transferring charges from departments to Accounts Receivable has changed. Paper forms have been replaced by the input of the information into SIS using online screens. However, departments that previously sent electronic files may still do so along with any department that would like to begin sending electronic files can as well. Contact sis@osu.edu for more information on submitting electronic files to Account Receivable.
Click the link below to view detailed instructions and general information about the Accounts Receivable system.
https://xpedio.oit.ohio-State.edu/xpedio/groups/public/documents/trainingdocs/deptcollectionsuserguide.pdf
Two new receivable reports are available via eReports. Both are in the SFB000 SIS-GL Financial Reports group (Financials > Student Financials > SFB000) and can be used for variety of purposes.
Receivables Detail (Trial Balance and Aging Report) – SFB020
Previously, a "Department Report" was emailed each month to departments with receivable activity during that month. Beginning in July, there will be a new SIS report that the departments can produce themselves. It will be similar to the Department Report but it will contain more information--including past due aging, as well as have the ability to be printed or downloaded to Excel. This report will be available two days after month end, which for July will be around August 4. Click below to view a mock Receivables Detail report:
https://xpedio.oit.ohio-state.edu/xpedio/groups/public/documents/job_aids/ja_mock_rpt_sfb020.pdf
Reconciliation Report – SFB010
In ARCS, there was no easy way to get the supporting detail behind the ARCS General Ledger journal entry. With the SIS, you will now be able to run your own report by Chartfield or journal ID to get supporting detail by debtor. The detail can be output as a report or Excel worksheet. In addition, this report will work for all SIS General Ledger Journals and Chartfields, not just Accounts Receivable. Click below to view a mock Reconciliation report: https://xpedio.oit.ohio-state.edu/xpedio/groups/public/documents/job_aids/ja_mock_rpt_sfb010.pdf
NEW RECEIVABLE ONLINE INQUIRIES:
Previously with the ARCS, only the Bursar's Office was able to view online debtor activity. In SIS, departments with the proper security will be able to view debtor activity online. With the combination of new reports and online inquiries, departments will now be able to answer many questions thereby reducing calls to the Bursar's Office.
RECEIVABLE GENERAL LEDGER ACCOUNT NUMBER CHANGE:
In the SIS, receivables transferred to the Bursar's Office by departments will reside in General Ledger Account 13025 (formerly 13020). Returned checks will reside in 13035 (formerly 13030).
RECEIVABLES TRANSFER OF CHARGES FROM ARCS TO SIS:
- As of July 1, all valid unpaid receivable charges in ARCS were transferred to SIS. General Ledger journal entries were automatically made to record the transfer to account 13025 for overdue receivables and 13035 for returned checks.
- Some ARCS transactions could not be moved to the SIS because of missing or incorrect information on the ARCS accounts. The charges not transferred remain in General Ledger accounts 13020 and 13030.
- The Bursar's Office will review the charges not transferred:
- Charges that can be collected will be manually recorded in the SIS and journal entries will transfer the charges to the appropriate Accounts.
- Uncollectible charges will be written-off. Journal entries will remove these changes from Accounts 13020 and 13030.
- The Student Accounting and Reconciliation department will provide detail to support the charges remaining in the old ARCS 13020 and 13030 accounts when requested. This is needed since the Department Report that was produced by ARCS is no longer available. Student Accounting and Reconciliation contacts include Frank Woodall, woodall.20@osu.edu and 8-3313 or Jasmine Anderson, anderson.923@osu.edu and 2-5923.
TRANSFER OF PAST DUE TUITION & FEES - NO LONGER NEEDED:
Prior to July 2009, when student charges became 90 days past due, the charges were physically moved from the BARS student receivable system to ARCS. When this occurred, General Ledger journal entries were made to move the charges from BARS Accounts (e.g., 13722, 13725, 13666) to Account 13020.
In the SIS, past due tuition and fees charges will stay in the same General Ledger Account to which they were originally posted and will not be moved to 13020.
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