General Billing and Accounts Receivable
The General Accounts Receivable area handles invoicing and collections for the sales of all types of goods and services. All U of M departments are eligible to process invoices through Sponsored Programs- General Accounts Receivable. There may be certain Funds that restrict or prohibit the use of sales invoices since outside revenue may not be appropriate to the Fund. Invoices must be greater than or equal to $100.00 for General Receivables to process and are generally processed within three business days of receipt. Units that do not currently have an alternative process for collecting revenue under $100.00 may contact General Receivables at (734) 763-1040 for help in determining an alternative method of collection. The originating department will be charged $20.00 for each general receivables invoice or credit memo that is processed. This $20.00 fee will be assessed against the Shortcode provided on the invoice. The processing fee offsets the cost of the monthly mailed customer statements and the collections efforts of the General Receivables office staff.
When an invoice is entered into the Accounts Receivable system, the originating department receives revenue immediately via an Accounts Receivable JE (BI Journal) to the designated Chartfields. This invoice will appear on the department's Statement of Receivable (SOR) Report. Please see the link below for instructions on how to read an SOR.
Credit card payments are accepted on General Receivables invoices. Credit card payments are offered as a customer courtesy. A fee will be charged to your department to offset the banks fee involved with credit card processing.
For questions and concerns, please contact General Receivables.
Effective July 1, 2012, the University of Michigan will be requiring auxilary units to begin paying a 10% surcharge of gross revenues associated when an external entity rents or leases U-M facilities. More information can be found in the news article as well as the Facilities Rental Revenue Sharing Policy and Procedures document, below.