Receipting and debit invoices

1. Receipting

Cash receipting procedures are in place to ensure that all University monies are accurately collected, recorded and banked.

Examples of cash receipts include:

• Students Association revenue (other than fees)
• Fundraising revenue
• Revenue from medical clinics

All monies must be deposited to the Finance and Planning Office in a timely and efficient manner and accounted for through the University’s finance system – Tech One.

• A Banking at Finance Form must be completed and lodged with university monies
• The University encourages reducing cash transactions and prefers payments to be made via EFT or through approved E-Payment Gateways
• Payments received in cash or cheque should be minor and infrequent or incidental
• Minimise cash handling by using electronic payment systems whenever possible
• Cash must be kept to a minimum and kept securely on campus
• Foreign currencies must be converted into AUD before being receipted as cash
• If your business unit wants to have online payments set up, please raise a service central request for ‘New Web Form’

All receipting and banking enquires can be forwarded to finance.banking@acu.edu.au or directed to 02 9739 2928

2. Invoicing

Overview

An invoice is raised to recover monies from external organisations in return for goods or services which have been provided by the University. 

Invoices are raised for a wide variety of goods and services including:

• Hire of facilities and equipment (e.g.: student residences, lecture theatres, chapels)
• Research grants awarded for specific projects
• Consulting services
• Non-compulsory field trips
• Student loans
• Recovery of salaries from other organisations
• Rental of University premises

Raising an Invoice

When goods or services have been provided on credit, an Invoice Request is completed to enable a University invoice to be sent to the client Debtor. To raise the Invoice request, please navigate to the TechOne login and log in AR Requisitioner workplace.

An official University invoice will be raised and recorded in the financial management system (Technology One), thereby allocating income to the project code indicated in the invoice request. Finance will be responsible for follow up of outstanding invoices. Should Finance encounter difficulty in recovering a debt, the area that requested the invoice may be called upon for assistance. Should this be unsuccessful the University will consider legal action or write back the debt. Any write back will result in a correction of the original in come entry back to the originating project code.

Any debt that is to be written back must comply with the Financial Delegations policy.

3. Income Levies 

University will implement a 15% levy on all funds received from external organisations. This levy will be deducted upon recording of revenue and retained centrally by the University.

The purpose of this central levy is to support the University’s infrastructure, administrative services, and strategic initiatives that enable and facilitate externally funded activities.

Please note that the following Policies contain separate levies that may also apply.

Commercial Activities Procedure / Document / Policy Library

External Research Costing Policy / Document / Policy Library