Did you know?
General Accounts Receivable, part of Financial Services, prepares invoices for goods provided or services performed by the university community for external parties.
General Accounts Receivable is usually referred to by its acronym, GAR.
Let’s use an example to illustrate what this means
ABC Company (i.e. an external party) contracts the School of Industrial Design (i.e. a Carleton department) to build a panel display.
In order for the department to receive compensation, the Industrial Design administrator must request that GAR prepare an invoice for ABC Company. This will ensure the university is meeting its sales tax obligations and will allow GAR to follow up if the invoice is unpaid.
Here’s how it works …
- YOU initiate the request by filling out an invoice requisition form.
- YOU email the completed form to General.AR@carleton.ca.
- GAR reviews the completed form to ensure that it has been filled out correctly (read next week’s tip to find out more) and will create your invoice in FAST. The invoice will be e-mailed to the customer and the requestor (i.e. ABC Company and the School of Industrial Design administrator).
- Once the invoice has been created, funds will be automatically transferred to the revenue FOAPAL that you specified on the invoice requisition form. This typically takes 2 to 3 business days.
- GAR takes care of the collection and deposit of receivables (i.e. payment from ABC Company).
One very important thing to remember …
In this process you receive payment for your services directly from GAR (step 4 above). If the external party (e.g. ABC Company) sends you a cheque for services rendered, the cheque MUST to be forwarded to 301 Pigiarvik, Receipt Accounting. This is because you have already received payment from GAR.
Where to find out more
If you’d like to find out more, email General.AR@carleton.ca.
Invoicing for some enterprise funds is handled by the Controller’s Office. If you have previously had invoices for your enterprise fund issued through the Controller’s Office or if you were instructed at the time of fund opening, then you should continue to contact your fund administrator for Accounts Receivable inquiries.