What is ARBI?
ARBI is an acronym for Accounts Receivable Billing. It is the Accounts Receivable program in the PeopleSoft software system. The customer and the revenue deriving from that customer are the responsibility of the billing department; however, the Cashier’s Office does perform a back-up accounting function. Departments on campus use ARBI to create invoices and PeopleSoft will post the invoices to their financial statements and mail the invoices. The Cashier’s Office will monitor, age and reconcile the receivables and aid in the collection of the payments.
When to use ARBI
ARBI is to be used when a unit of the University has the need to invoice outside individuals and entities. ARBI is NOT to be used for student billing, inter-departmental or inter-campus billing.
Section 207 of the University of Missouri System Finance & Accounting Business Policy & Procedure Manual states:
Special permission must be granted from the Vice Chancellor of Managerial & Technological Services in order for a department not to use ARBI when creating an invoice.
Advantages of using ARBI
- Revenue is posted to your financial statements when the invoice is created. The invoice is documented in PeopleSoft.
- Back end administration done by the Cashier’s Office – We will collect and process payments, make sure everything has posted correctly, send past due notices, age and reconcile receivables.
- Customers can pay by credit card (Visa, MC, Discover and American Express) with no fee to them or to your department
- Departments do not have to process or deposit payments (unless they prefer to). There is a payment coupon with instructions as part of the invoice created.
- The Cashier’s Office will notify the billing department and send past due notices.
- Invoices which are not paid can be sent to the University’s collection agency if deemed appropriate by the billing department.
- No cost for postage, printing, mailing or accounting services to the billing department.
For more information about ARBI or for training, please contact Nancy Cook or Dan Tracy