1. Session ID 2019PSFT-101930 David Laden July xx, 2019
Streamline payment processing and collections with PS Accounts Receivable
Session ID 2019PSFT
David Laden
July xx, 2019

2. David Laden Director Non-Sponsored Accounts Receivable
University of Minnesota
Mr. Laden is currently Director of Non-Sponsored Accounts Receivable at the University of Minnesota where he oversees customer maintenance, billing, receivables, collections, and credit card operations and compliance. Previous to this he served as the Accounts Receivable and Billing Functional Lead for the University’s implementation of PeopleSoft Financials. Mr. Laden has previously held positions as Management Information and Business Analyst and as an Information Systems Consultant.

3. University of Minnesota
Land grant University founded in 1851
Five campuses (Twin Cities, Crookston. Duluth, Morris, Rochester)
20+ off campus locations including Extension offices, Research and outreach centers
66,880 Students
20,389 Faculty & Staff
$3.7 billion total operating expenses (FY2018)

4. University of Minnesota and Oracle
PeopleSoft Financials
July Implemented version 8.9
April 2015 – Upgraded, version 9.2 (currently on Image 25)
Modules used: General Ledger, Billing, Accounts Receivable, Treasury, Grants, Contracts, Project Costing, Procurement, Accounts Payable, Expenses, Commitment Control
PeopleTools version
Oracle database version 12.1
Other software in financial system environment:
Perceptive Content
CLEAN_Address®
Approximately 3750 financial system users

5. Abstract
This session will explore the use of the PeopleSoft Accounts Receivable module for processing your organization’s receivables. Topics to be covered include customer maintenance, receiving payments (cash, check, EFT, and credit card payments), payment application, handling unidentified and unapplied payments, collections processes including statements of account, dunning correspondence, and customer conversations. The presentation will include discussion of design considerations, tips and tricks, and methods to monitor payment processing and open receivables. This session is applicable whether you are beginning your use of PeopleSoft Receivables or you have been using receivables and want a fresh look at some of the features.

6. Learning Objectives
Learn how the use of PeopleSoft Accounts Receivable can improve efficiency and internal controls.
Learn about design considerations for the use of PeopleSoft Accounts Receivable module.
Learn how you can monitor activity in the PeopleSoft Accounts Receivable module.

8. Session Outline Introduction Customer Maintenance Accounts Receivable
Receiving Payments
Payment Application
Collections
Monitoring
Payment Processing
Open Receivables
Concluding Thoughts
Design Considerations  Internal Controls  Future Plans  Tips & Tricks

9. Session Outline Introduction Customer Maintenance Accounts Receivable
Receiving Payments
Payment Application
Collections
Monitoring
Payment Processing
Open Receivables
Concluding Thoughts
Design Considerations  Internal Controls  Future Plans  Tips & Tricks

10. Order to Cash Process Credit Analysis and Customer Maintenance
Process customer set-up/maintenance requests & credit applications
Request credit checks
Maintain customer records
Order Processing and Fulfillment
Receive purchase order from customer
Manufacturing, printing, picking, packing, shipping
Consultation
Provide services
Leasing/renting
Billing
Prepare and enter billing information
Generate and distribute invoices
Payment Application
Receive payments via cash, check, EFT, or payment card
Enter payment information
Apply payments
Reconciliation
Collections
Generate and distribute statements of account
Contact customers to collect past due amounts
Research and resolve AR discrepancies
Generate and distribute dunning correspondence
Compile aging reports
Accounting
Research and resolve short-pays
Process write-offs and adjustments
Sales Tax Reporting
GL reporting and reconciliation
Order to Cash Process

11. Customers and Contacts
PeopleSoft Modules
Customers and Contacts
Billing
Receivables

12. Receivables Parameters
Collector
Credit Analyst
Statement Group
Dunning Group
Payment Predictor Method

13. Questions?

14. Session Outline Introduction Customer Maintenance Accounts Receivable
Receiving Payments
Payment Application
Collections
Monitoring
Payment Processing
Open Receivables
Concluding Thoughts
Design Considerations  Internal Controls  Future Plans  Tips & Tricks

15. Customer Maintenance Design Considerations
Single vs. multiple customer “files”
Distributed vs. centralized maintenance function
Level at which customer is set-up
Attributes set at customer level
Collector, Credit Analyst
Statement Group
Dunning Group
Attributes optional at customer level

16. Customer Maintenance Billing Parameters AR Parameters
Payment Predictor Method
AR Parameters
Collector
Credit Analyst
Statement Group
Dunning Group
Groups
Attachments

20. 7

21. Navigation: Customers > Contact Information

22. Customer Maintenance Single customer file for entire University system
Sponsored and non-sponsored
All campuses
All colleges/administrative units
Set-up maintained by single central group
Customer typically set at highest organizational “level” address locations used for subsidiaries, divisions, etc.
Bolt-on customer request process
Address validation against USPS database

25. Customer Maintenance Future Considerations
Rethinking “level” at which customers set-up
Utilizing hierarchy built into PeopleSoft
Proactive maintenance
Incorporate additional features into custom customer request screen
Automatic assignment of tax code
Validate address earlier in process
Systematic duplicate checking

26. Questions?

28. Questions?

29. Session Outline Introduction Customer Maintenance Accounts Receivable
Receiving Payments
Payment Application
Collections
Monitoring
Payment Processing
Open Receivables
Concluding Thoughts
Design Considerations  Internal Controls  Future Plans  Tips & Tricks

30. Payments and Remittance Information Invoices (from Billing)
Accounts Receivable
Payments and Remittance Information
Open AR Items
Invoices (from Billing)
Apply Payments
Closed Items

31. Payments and Remittance Information
Accounts Receivable
Payments and Remittance Information

32. Accounts Receivable Design Considerations – Receiving Payments
Which payment types to accept?
Cash, Check, EFT (ACH or Wire Transfer), Credit/Debit Card, Virtual Payment Card, Direct Debit
Check payments
Distributed or centralized check receiving and depositing, or
Outsource check processing to lockbox service
EFT payments
Load via bank statement processing, separate bank file, or manually key
Credit/debit card payments
Use PS delivered functionality, eBill Pay, or capture credit card payments via another means
Credit card fees
Absorb centrally, allocate to colleges/departments, charge convenience fee

33. Navigation: Accounts Receivable > Payments > Online Payments > Regular Deposit

35. Accounts Receivable
Accept cash, check, EFT (ACH and Wire Transfer), and credit/debit card (non-sponsored only)
Cash payments are an exception process
Utilize bank lockbox service for check processing
Receive daily data file and image file
Load separate EFT file from bank into AR module
Use locally developed web application to accept credit/debit card payments
Credit card fees allocated back to departments

39. Accounts Receivable Future Considerations
Continue reinforcing throughout U community to send checks to bank lockbox
EFT payments represent big opportunity for improvement
Credit card payments – whether to continue maintaining our own web application
Implement Direct Debit functionality

40. Questions?

41. Payments and Remittance Information
Accounts Receivable
Payments and Remittance Information
Open AR Items
Apply Payments

42. Accounts Receivable Design Considerations – Applying Payments
Distributed or centralized payment application
Method of application
Oldest item, specifically referenced item
Manually apply via payment worksheet
Utilize payment predictor for automated payment application

43. Navigation: Accounts Receivable > Payments > Apply Payments > Create Worksheet

45. Accounts Receivable Utilize Payment Predictor with basic rules
Minor modifications to “pre-process” payment data
Fix problem with invoice numbering (leading zeros)
Manually apply remaining payments via payment worksheet
Always apply payments based on customer’s direction.

46. Accounts Receivable Future Considerations
Continued refinement of the payment predictor methods
Investigate using MICR information to identify Customer ID for use on payment worksheet

47. Accounts Receivable Design Considerations – Unidentified payments
Leave as unapplied payment on worksheet
Create On-Account item (OA entry type)
Place all on a control customer record, or
Identify customer and place on that customer’s account
If item referenced already closed, apply to other items or refund?
Design Considerations – Refunds
Keep balances on account? For how long?
What is trigger to refund to customer?
Use delivered integration with Accounts Payable module?

48. Accounts Receivable Unidentified payments Refunds
Leave as unapplied payment for short period of time
Move all unapplied payments to “on account” by end of month
On Accounts placed on customer record
Separate process through queries that monitors on-accounts.
Refunds
Always take direction from customer on how to handle payment.
Utilizing delivered integration with AP
Modification to capture additional fields for AP Voucher

49. Accounts Receivable Future Considerations
Refine methods of monitoring on-account payments
Investigate alternate methods of refunding customers

50. Questions?

51. Accounts Receivable Design Considerations – Collections
Statements of Account
Balance Forward or Open Item
Dunning Correspondence
Customer Conversations
Condition Monitor

52. Accounts Receivable Statements of Account Dunning Correspondence
Open item
Mailed to all customers with at least one invoice > 30 days overdue
Dunning Correspondence
Bolt-on modification to automatically dunning notices
Customer Conversations
Used to document all interactions with customers
Queries to monitor past due accounts

54. Accounts Receivable Future Considerations – Collections
Investigate whether additional queries paired with the Accounts Receivable WorkCenter could assist in the collection process
Learn how Condition Monitor could assist in monitoring past due accounts

55. Questions?

56. Order to Cash Process Shared Service Model
Credit Analysis and Customer Maintenance
Process customer set-up/maintenance requests & credit applications
Request credit checks
Maintain customer records
Communicate results to clusters
Order Processing and Fulfillment
Receive purchase order from customer
Manufacturing, printing, picking, packing, shipping
Consultation
Provide services
Leasing/renting
Billing
Prepare and enter billing information
Receive sales data & billing information from clusters
Generate and distribute invoices
Provide support to clusters in billing best practices and system configuration
Payment Application
Receive payments via cash, check, EFT, or payment card
Interface from third-party payment processors (lockbox, bank, payment card)
Apply payments
Reconciliation
Collections
Generate and distribute statements of account
Contact customers to collect past due amounts
Research and resolve AR discrepancies
Generate and distribute dunning correspondence
Compile aging reports
Accounting
Research and resolve short-pays
Process write-offs and adjustments
Sales Tax Reporting
GL reporting and reconciliation
Order to Cash Process Shared Service Model
Tasks completed in departments and clusters
Services provided by Accounts Receivable

57. Session Outline Introduction Customer Maintenance Accounts Receivable
Receiving Payments
Payment Application
Collections
Monitoring
Payment Processing
Open Receivables
Concluding Thoughts
Design Considerations  Internal Controls  Future Plans  Tips & Tricks

58. Monitoring Transactional Activity Open AR
Use delivered Billing and Accounts Receivable pages
Use WorkCenters
Open AR
Use delivered aging reports
Use queries

59. Navigation: Accounts Receivable > Receivables WorkCenter

63. Monitoring Future Considerations Make greater use of WorkCenters
Develop additional monitoring queries
Learn how Condition Monitor could assist in monitoring
Past due accounts, on-account payments

64. Session Outline Introduction Customer Maintenance Accounts Receivable
Receiving Payments
Payment Application
Collections
Monitoring
Payment Processing
Open Receivables
Concluding Thoughts
Design Considerations  Internal Controls  Future Plans  Tips & Tricks

65. Maximize your investment in PeopleSoft Other ways to use Billing and AR
Transfer of funds from Foundation
Recording point-of-sale credit/debit card activity
Departmental Deposits

66. My Oracle Support Communities Receivables & Billing – PSFT (MOSC)

67. My Oracle Support Communities Receivables & Billing – PSFT (MOSC)

69. Want further conversation
Attend Billing/AR Roundtable

70. Additional RECONNECT sessions:
AR Session
Date/Time
Previous RECONNECT session:
Payment Predictor

71. Please complete a session evaluation
Session ID:
Contact Info:
Tel: