Financial Services

Issuing an Invoice Policy

All official University invoices must be raised by Financial Services (Revenue) or Business Units that have online access to the AR system.

This is not only to ensure all monies due and payable to the University are recorded in the books of account for audit and control purposes, but also to ensure proper compliance with the GST legislation.

Policy statement

As a general practice invoices should be raised in Australian dollars to avoid the risk of currency fluctuations. For further information please refer to the foreign currency expenditure policy.

The University raises invoices for the sale of goods and services to outside bodies and individuals. The authority to enter contracts and agreements to sell goods and services is governed by financial authority and delegations.

The supply of goods and services often involves work carried out in schools, laboratories, technical units, and workshops. It is essential therefore that Business Units maintain suitable records to ensure that all costs incurred on behalf of outside parties can be quickly and accurately assessed. In the case where work may take a long time to complete, amounts owing should be invoiced progressively – at the end of each accounting period. Obtaining payment on this basis will assist in matching the cash flows with the associated costs.

When requesting an invoice to be raised, there are several requirements which, if adhered to, will result in the timely dispatch of your request and facilitate payment.

  • The request has been reviewed and properly authorised.
  • All requirements under any contract or letters of agreement have been met and communicated to the customer.
  • The amount is due and payable at the time of raising the request; that is, it is not a demand for payment in advance.
  • Customer account details are included on the form otherwise customer credit application where considered necessary and request to create a customer form should also be attached.
  • A meaningful description of the charge for the customer including any references to contracts or purchase orders. This information will be reflected on the invoice to the customer and is limited to 250 characters.
  • GST has been correctly recorded. GST should equal 1/11th of the gross amount in all cases. Exempt components should be shown as separate lines with the appropriate account code.
  • A copy of the purchase order or other documentation from the organisation to be invoiced, indicating a commitment to pay the amount. This could be a copy of a course registration form or a payment schedule within a contract.
  • Working papers detailing the basis of any calculations, the source of supporting data and the name of the preparer of the calculations to assist in follow up or collection.
  • Invoices which have a research component have been approved by Research Services. Direct your invoice requests in the first instance to Research Services (M455).
  • All other requests should be forwarded to Revenue, Financial Services (M449).

A copy of the invoice request should be kept on file with reference to the invoice number issued or a reprint of the invoice created.

Key controls

  • Segregation of duties: responsibilities for billing (raising invoice) adequately segregated from those for collection and accounting
  • Controls to provide assurance customer database and where appropriate, usage records are accurately maintained to ensure amounts due are billed.
  • Periodic review and approval by legislative bodies of rate of taxes, fines, fees, programs of tax exemption, rate schedules.
  • Prompt investigation of credit issuance and disputes with billing amount.
  • Regular review on delinquent accounts and take prompt action to collect or consider them for write-off on a timely basis.