The Collections and Accounts Receivable (CAR) Team has been embedded in another team for a long time. SPAC felt it needed its own stand-alone structure so that more focus could be put on the collection of revenues for the departments. There are two succinct areas: Collections and Accounts Receivable
- Collections (C )
- Review aging report
- Monthly report contacting sponsors, dept for payment.
- Issue dunning letters to sponsors.
- Maintain and update vendor registration and ACH forms.
- Maintain and update collections payment plans.
- Accounts Receivable (AR)
- Claim, process and apply payments from UMB’s central clearing accounts for all sponsored project invoices.
- Research payments without adequate reference information.
Contact: spaccollections@umaryland.edu
Questions for CAR Team
- Banking information
- ACH or vendor form needs to be filled out
- Have you received my payment
- Why is my payment not showing posted
- How do I obtain a W-9 for a sponsor
- Can I receive the original invoices with my collection letter
- Are you sending a Dunning Letter to this sponsor
- Can you stop dunning a sponsor
- I have a payment in my office how do I get it applied
- My sponsor wants to institute a payment plan
