Accounts Receivable (AR) are funds owed to an entity (Queen’s) by customers (individuals or corporations) for goods and/or services that have been delivered or used, but not yet paid for. This page refers to processes and guidance related to using the AR module in PeopleSoft.
An invoice will be required to be issued by Queen’s University to a customer when goods/services are delivered. By issuing an invoice it improves transparency into the funds that are owed to the University and improves the chance of collection of those funds as an invoice is a legal document. There are different types of invoices that can be created in the AR module of PeopleSoft.
- Recurring Billing - Can be used for automated monthly billing. (PDF, 476KB)
- Installment Billing - Used to bill customers in segments, can be divided equally, by percentage, or a set schedule. (PDF, 428KB)
The new AR module will automatically generate the journal entry (post the AR and corresponding revenue to the general ledger) an internal approval process is recommended. Entries should be reviewed and approved by a knowledgeable approver. Evidence of approval should be maintained.
AR Review and Approve Invoices (PDF, 1MB)
There are numerous inquiries and reports for accounts receivable (AR). These reports and queries can show outstanding invoices and aging reports, payments posted, status of invoice plus transactions posted during a specified period.
New Customer and Update Request Template (xls, 27KB)
Agency Fund - Invoicing (PDF, 1.1MB)
Agency Fund - Credit Note Template (XLS, 39KB)
Agency Fund - Invoice Template (XLS, 40KB)