From: McCue, Cathy (CMcCue@iona.edu)
Date: Mon Aug 06 2001 - 08:44:23 EDT
We currently use a traditional method of aging our receivables (0-30, 31-60,
61-90, etc) but will be switching to aging our receivables by semester. It
made a lot more sense based on the way colleges do business.
The problem we have with traditional aging is that the aging is based on the
last transaction date. If a payment or adjustment was made (after the
account reached the over 360 period, for example), we would lose the "real"
age of the account. Using the semester basis would not have this affect.
Using this method for determining our Reserve and write-offs would also be
more accurate and more in line with the way we do business.
Cathy J. McCue
Bursar
Iona College
715 North Avenue
New Rochelle, NY 10801
(914) 633-2125
-----Original Message-----
From: Jacqueline White [mailto:jwhite@postoffice.providence.edu]
Sent: Friday, August 03, 2001 11:36 AM
To: bursar-l@virginia.edu
Subject:
I would appreciate hearing from any schools regarding collections policy.
o How do you age your student receivables? What periods do you use (30,60,
90 day or 1 semester, 2 semester,etc.)
Also, what periods do you evaluate to determine your Reserve for doubtful
student accounts?
Thanks.
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