6. State agencies must conduct an annual analysis of current Agency Annually accounts receivable activity and recent trends to determine the appropriate amount to be reported as the allowance for doubtful accounts at fiscal year-end. Agencies should document and retain the analysis and justification of all allowance for doubtful accounts estimates. 7. State agencies who routinely bill for goods or services not yet Agency As needed received (advance billings) should contact MMB Financial Reporting for additional reporting instructions. 8. Obtain written approval from MMB General Accounting at for Agency As needed not using the Statewide Integrated Financial Tool (SWIFT) Accounting Accounts Receivable Module. Coordinators 9. All accounts must be formally reconciled by receivable type Agency Quarterly and receivable system at least once each calendar quarter. 10. A state agency should charge simple interest on debts owed Agency As needed in accordance to MMB Operating Policy 0502-01 - Debt Collection. 11. Agencies that do not have accounts receivable activity must Agency June 15th submit an Annual Certification Form. The form will be sent out by MMB General Accounting and must be returned via email to . Related Policies and Procedures
6. State agencies must conduct an annual analysis of current accounts receivable activity and recent trends to determine the appropriate amount to be reported as the allowance for doubtful accounts at fiscal year-end. Agencies should document and retain the analysis and justification of all allowance for doubtful accounts estimates. Agency Annually 7. State agencies who routinely bill for goods or services not yet received (advance billings) should contact MMB Financial Reporting for additional reporting instructions. Agency As needed 8. Obtain written approval from MMB General Accounting at for not using the Statewide Integrated Financial Tool (SWIFT) Accounts Receivable Module. Agency Accounting Coordinators As needed 9. All accounts must be formally reconciled by receivable type and receivable system at least once each calendar quarter. Agency Quarterly 10. A state agency should charge simple interest on debts owed in accordance to MMB Operating Policy 0502-01 - Debt Collection. Agency As needed 11. Agencies that do not have accounts receivable activity must submit an Annual Certification Form. The form will be sent out by MMB General Accounting and must be returned via email to . Agency June 15th Related Policies and Procedures
0501-01-01-managing-reporting-ar-procedure.docx