Private Bag X1290, Potchefstroom
South Africa 2520

Tel:	018 299-4503
Fax:	018 299-4502
Web:	http://www.nwu.ac.za

IO Financial administration
Tel:	+2718 299-4503
Fax:	+2718 299-4502
Email:	riaan.prinsloo@nwu.ac.za

MEMO

To:	FMC

From:	Johan Schoeman

Date	5 August 2014

Re:	Accounts Receivables

To all concerned

Within the KFS environment, Accounts Receivables will change as follow:

Accounts Receivables Customers – The Customer will change to make use of the Party System of the University that will generate a US number for the Customer. Changes include that if the Customer is an Individual that an Identity Number will be required when created and in the case where the Customer is an Institution then a VAT Registration number is required if the Institution is registered for VAT.

A Customer cannot be duplicated on KFS but multiple Billing Addresses can be loaded per Customer to indicate different Divisions or Branches an Institution might have that the University delivers a services to.

Customer will also only be created by the Campus AR Managers and no Accounts Receivables Initiators will be able to create a Customer.

Accounts Receivables Pro Forma Invoice - A Pro Forma Invoice can be generated before an Invoice is issued to the Customer. This will reduce the current quantity of Invoices that have to be cancelled which have been issued incorrectly since the Customer can first confirm that the service that they require is correct.

Accounts Receivables Collections – When the terms of the Invoice is reached a notification will be sent out to the initiator informing them that the Invoice terms has been reach if no payment has been allocated on the Invoice. The Initiator can then follow up with the Customer as to why the payment was not received in the allotted terms and notes can be added onto the invoice and a follow-up date can be specified.

4.	Accounts Receivables Statements – Each Campus will be able to do a Statement run on their own instead of having one central point where it is done and then distributed to the other campuses. This will reduce the waiting time for Statements to be sent out to the Customers

Accounts Receivables Item Codes – Previously Item Codes were created centrally at the Institutional Office and in KFS will be created on Campus level by each Campus AR Manager since the setup has changed that does not include the control accounts and tax setups.

Accounts Receivables Credit Memo / Invoice Write-Off – Previously we used the Credit Memo to cancel the full invoice. Within KFS the Credit Memo is used to change either the amount or quantity being billed to the Customer while the Invoice Write-Off is used to write-off a complete Invoice.

For more information you are welcome to contact Johan Schoeman (johan.schoeman@nwu.ac.za)

KFS Project Team