From: Renata Hale (Renata.Hale@royalroads.ca)
Date: Tue Feb 12 2002 - 14:22:50 EST
Hello all!
I work for Royal Roads University in Victoria, BC, Canada. We focus on
distance MBA programs with intermittent short residency periods and
therefore have many people for whom fees are paid on their behalf by
employers and various other (usually government) agencies.
In the past, invoices were issued to third parties; however, this became
difficult to track and payments were often late. We currently maintain that
as our relationship is with the student only, we do not do direct invoices
to third parties. The responsibility to arrange payment therefore remains
with the student, regardless of the source of funds. Rather than an
invoice, we provide confirmation of enrolment and a copy of the Payment
Option form that applies to that student's program of studies. Third
parties are asked to note payment due dates and amounts and to send any and
all payments on behalf of our students with a notation of both student name
and number so that these payments may be properly applied. All receipts for
payments made on behalf of the student are also sent directly to the
student, again to clarify that our relationship is solely with the student
and is not dependent on who pays their fees.
This is a topical issue for us as well as we are currently re-vamping our
student accounts process to make it more efficient and reduce outstanding
receivables! All insights into the processes used elsewhere are gratefully
received!
Cheers,
Renata Hale, CGA
Senior Accounting Associate - Student Accounts
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