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Mission Statement - University Receivables and Collections

Mission Statement - University Receivables and Collections 2025

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The document outlines the Purdue University Credit and Collections Business Process for departments wishing to maintain either a Stand-alone or Feeder Accounts Receivable (A/R) system for Non-Student accounts. It details procedures for extending credit, billing, and the responsibilities of departments in managing A/R transactions. The document emphasizes the need for proper documentation, customer agreements, and compliance with university policies. Additionally, it provides guidelines for departments that wish to request exceptions to use a Stand-alone A/R system that does not integrate with the university's main financial system.

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2020	4.8 Satisfied (69 Votes)

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What is an example of a mission statement for accounts receivable?

An accounts receivable mission statement will be less broad than a corporate statement, given its focus. For example, an AR mission statement might be: To process customer billing in a timely, accurate and cost-effective way and to collect the funds owed to the company in a responsible and respectful manner.

What is the mission of accounts receivable?

The primary goal of managing accounts receivable is to accelerate cash flow by ensuring timely payments. And to achieve that, you need to set effective accounts receivable goals and objectives. But setting AR collections goals is only half the battle.

What are some examples of a mission statement?

Accounts receivable focuses on managing and tracking customer payments and invoices to streamline cash flows in the business. The role involves: Maximizing payment recovery for sales. Tracking overdues and mitigating bad debts.

How do you write a mission statement for a university?

The mission statement should define the broad purposes the program or office/department is aiming to achieve, describe the community the program or office/department is designed to serve, and state the values and guiding principles which define its standards.

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