29. Collection of debts

29.1. The Director of Finance should ensure that:

• Debtors invoices are raised promptly on official invoices, in respect of all income due to the University;
• Invoices are prepared with care, recorded in the finance system, show the correct amount due and are credited to the appropriate income account;
• Any credits granted are valid, properly authorised and completely recorded;
• VAT is correctly charged where appropriate, and accounted for;
• Monies received are posted to the correct debtors account;
• Swift and effective action is taken in collecting overdue debts, in accordance with the protocols noted on Finance Services webpages;
• Outstanding debts are monitored and reports prepared for management.

29.2. Only the Director of Finance can implement credit arrangements and indicate the periods in which different types of invoice must be paid.

29.3. The Director of Finance has the authority to write off any debt incurred in the ordinary course of business, except for those having a material impact on the University’s position. The write off of material debts will be referred to Council.

29.4. Requests to write off debts must be referred in writing to the Director of Finance.