Revenue/Invoicing | KCTCS

Administrative Procedures

Revenue/Invoicing

Policy Number: 5.3.7-P

Current Effective Date: 12/01/2018

Original Effective Date: 07/01/2009

Revision Dates: 07/01/2009, 07/01/2013, 11/07/2018

Revision Number: 3

Revision Summary:

Responsible Official: System Director of Treasury Management

References:

1. Purpose

To provide guidance for the PeopleSoft Accounts Receivable and Billing Module.

2. Scope

This procedure applies to all colleges and the System Office.

3. Procedure

3.1

Invoicing:

  1. AllKCTCS units are required to use thePeopleSoft Accounts Receivable and Billing module to process all non-credit external billings including state government.
    1. A staff member will process invoices in the Billing module and a different staff member will enter payments in the Accounts Receivable module.
  2. A BA5 form is used to approve access for invoicing and recording payments.
    1. The BA5 form must be signed by the Chief Business Officer at the college level or by the employee’s supervisor at the System Office.
  3. Any organizational unit within a Business Unit is authorized to send aKCTCS invoice processed through the Billing module.
    1. The invoice should be sent within 5 working days of the provided service.
    2. A copy of the invoice should be sent to the business office who receives payment for the invoices.

3.2

Revenue Sources:

  1. The process of collecting tuition, fees, vending receipts, miscellaneous receipts and all other monies must provide safeguards so that all funds are collected and properly recorded.
  2. Each college must deposit all receipts directly into the local college depository.
    1. Cash receipt forms are completed to indicate amount received, date received and from whom.
    2. Cash receipts are entered in PeopleSoft Financials to be easily reconcilable with the monthly bank statements.
    3. Use the cash handling business procedure 3.9 to properly collect, deposit and record receipts.

3.3

Income Categories:

  1. Frequently used income sources are listed below.
    1. Tuition and Fees for Credit – Includes tuition and fees for fall, spring, and summer sessions.
    2. Tuition and Fees Non-Credit – Includes tuition and fees for continuing education classes, customized business and industry training, conferences, and seminars.
    3. Mandatory Fees – Includes fees for BuildSmart projects.
    4. Non-Mandatory Fees – Includes online course charge, security fees, course fees, student liability insurance, transcripts, returned check fees, late payment fees, ID replacement, and application fees.
    5. Food Services – Includes dining, grills, vending, concessions, and cafeteria sales.
    6. Sales and Services – Includes commissions, rental income, fines, and other miscellaneous sales.
  2. Refer to the KCTCS Chart of Accounts for detailed descriptions.