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Accounting |Introduction |IFR Billing and Collections | IFR Billing and Collections - Adjustments to Billed Amounts

Financial Procedures Manual: IFR Billing and Collections

Adjustments to Billed Amounts

Once an invoice has been issued, the amount owed by the person or organization becomes an accounts receivable of New York State and they are legally liable to make full payment of the receivable. The University has the responsibility to ensure the invoice is deposited, properly collected, and recorded. At times, however, it is necessary to adjust an outstanding invoice. Such an adjustment can only be made through an IFR Invoice Adjustment Form (ATTACHMENT IV-4).

The IFR Invoice Adjustment Form should be used to record any adjustment to an outstanding invoice, such as an increase or decrease of a dollar amount, changes in customer information, complete invoice cancellation or cancellation of a partially paid invoice. In all cases, a clear explanation of why the adjustment is necessary should be written on the adjustment form and forwarded to the Accounting Office. If acceptable, the Accounting Office will adjust the oustanding invoice.

Adjustments to invoices will only be allowed when the issue is related to the situation at the time the original invoice was issued. Adjustments should not be used to reduce invoices, address collection issues, or offset amounts the project may owe to the person or organization.