Introduction

Accounts receivable is a crucial aspect of financial management at UT Austin, allowing the university to effectively manage its finances and provide necessary services to students and faculty. In this blog post, we will explore the various aspects of accounts receivable at UT Austin and how it impacts the university's operations.

Contact Student Accounts Receivable (SAR)

One of the primary points of contact for any accounts receivable inquiries at UT Austin is the Student Accounts Receivable (SAR) department. SAR is responsible for managing and processing student account payments, issuing refunds, and providing essential financial information to students.

Texas One Stop

For comprehensive assistance with accounts receivable and other financial matters, UT Austin offers Texas One Stop. Texas One Stop serves as a centralized resource for students, providing guidance on student accounts, financial aid, registration, and other important university processes.

Perkins Loan Services

UT Austin's accounts receivable department also manages Perkins Loan Services. This program provides low-interest loans to eligible students to help them finance their education. SAR plays a crucial role in administering and collecting payments for these loans.

Nurse Faculty Loan Program

Another important aspect of accounts receivable at UT Austin is the Nurse Faculty Loan Program. This program offers loan forgiveness opportunities to nurses pursuing advanced degrees in order to increase the number of nursing faculty members. SAR assists in managing the accounts receivable associated with this program.

Student Accounts Receivable Resources

UT Austin offers a range of resources to help students navigate their accounts receivable. These resources include online guides, FAQs, and helpful contact information. Students can access these resources to get answers to their questions and ensure a smooth financial experience.

Related Services

In addition to accounts receivable, UT Austin provides a wide range of related services. These include accounting and financial management, bursar (cashier) services, cash management services, payment information, and tax services. These services are crucial for the efficient management of the university's finances and ensuring a seamless financial experience for students and staff.

Handbook of Business Procedures

UT Austin follows the guidelines outlined in the Handbook of Business Procedures (HBP) for accounts receivable management. The HBP provides comprehensive information and procedures related to accounts receivable, ensuring consistency and compliance across the university.

Centralized Receivables

The HBP's Part 5.3 focuses specifically on accounts receivable. Within this section, Centralized Receivables are discussed, detailing the processes and best practices for managing receivables in a centralized manner.

Other Accounts Receivable

The HBP also addresses Other Accounts Receivable, providing guidelines for managing non-centralized receivables. This section covers unique scenarios and processes associated with accounts receivable that fall outside the scope of centralized management.

Operating Accounts

As part of the university's financial operations, UT Austin maintains various operating accounts. Accounts receivable plays a crucial role in managing these accounts, ensuring accurate recording of financial transactions and timely collection of payments.

Cash Handling and Deposits

One of the essential aspects of accounts receivable management is cash handling and deposits. UT Austin has established specific protocols and procedures to ensure the secure handling of cash and efficient processing of deposits.

Conclusion

Accounts receivable is a vital component of financial management at UT Austin. The Student Accounts Receivable department, along with various resources and programs, ensures efficient management of student accounts and related financial services. Adhering to the guidelines outlined in the Handbook of Business Procedures, UT Austin maintains a centralized approach to receivables while also addressing unique scenarios through its Other Accounts Receivable policies. By effectively managing accounts receivable, UT Austin can continue to provide quality education and support to its students and faculty.