Financial Services

Disputed Invoices Policy

Disputes over invoices should be dealt with as speedily as possible.

Policy statement

In the situation where a customer disputes the amount invoiced, Financial Services will refer this to the Business Unit for advice. This request for further information will be forwarded to the School Manager / equivalent concerned.

If a response is not received within 28 days, a reminder will be sent copying the Head of School / equivalent. A credit note will be initiated reversing the transaction where no response is received within seven days, pending further instructions from the Business Unit.

Key controls

  • Segregation of duties: responsibilities for billing (raising invoice) adequately segregated from those for collection, deposit of funds and credit issuance.
  • Reviewing and approving of credit notes as per University Financial Delegation.
  • Prompt investigation of credit issuance and disputes with billing amount.
  • Establishment of a documented Revenues and Receivables procedures and controls to ensure all staff know the processes they are expected to follow.
  • Periodic review and approval by legislative bodies of rate of taxes, fines, fees, programs of tax exemption, rate schedules and the like.
  • Regular review on delinquent accounts and take prompt action to collect or consider them for write-off on a timely basis.
  • Retention of records for audit purposes.