OAR 166-475-0050
Fiscal — Payables/Receivables Records
(1)
Accounts Aging Records Records document a cumulative listing by accounts receivable number of all receivables on the Accounts Receivable master file in the Banner Student Information System. For each receivable, the amounts that are not yet due, currently due, and overdue are indicated by fiscal year. Records consist of account listings sorted numerically by customer showing balances. Listings are generated at the end of the fiscal year and at other times upon request. (Retention: (a) 10 years for year-end listing, destroy (b) 4 years for other listings, destroy).(2)
Accounts Payable Records Records document a department’s expenditures and purchases. The series may also be used to research, evaluate, and monitor prior transactions and/or track the budget. Records may include but are not limited to departmental purchase orders; contract release orders; balance sheets; bills; invoices; invoice vouchers; journal voucher/entry forms; price quotes; State of Oregon “B” Purchase Orders; departmental requisitions; justifications of purchases; payment authorizations; reports of receipt of goods or services; and related documentation and correspondence. (Retention: 6 years, destroy).(3)
Accounts Receivable Records Records document a record of billings and collections for the office and units/programs which report to the office. It is also used to provide a record of customers owing monies and to reconcile the account. Records may include but are not limited to Account Edit sheets; classified advertisement forms; credit card payment forms; invoices; journal vouchers; receipts; returned checks: and related documentation and correspondence. (Retention: 6 years after collected or deemed uncollectable, destroy).(4)
Accounts Receivable Subsidiary Records Records document history of charges and payments recorded for each customer on the Banner Student Information System. Records consist of customer lists sorted by account number with charges and payments recorded for each customer in chronological sequence. (Retention: 6 years, destroy).(5)
Accounts Receivable Write-off Records Records document debts of Accounts Receivables written off with the approval of the Institution’s business office. Records include accounts receivable invoices; write-off worksheets; and due diligence documents. (Retention: 6 years after write-off, destroy).(6)
Canceled Checks Records Records document redeemed checks written on university accounts. Information on each check may include check number, date, amount, endorsement, account number, validation data, and related documentation. (Retention: 6 years, destroy).(7)
Check Conversion Records Records document checks received from customers that are electronically deposited after being imaged and converted to an Automated Clearing House (ACH) transaction or Image Replacement Document (IRD) (Retention: (a) Retain original paper instrument 30 days, destroy (b) Retain ACH transaction or IRD 6 years, destroy).(8)
Check Stubs Records documents the issuance of checks for payment in exchange for goods and services including payroll. Records include check stubs. (Retention: 6 years, destroy).(9)
Collection Records Records document the office’s efforts to collect unpaid accounts. Records include collection letters; notices; letters of transmittal; and bankruptcy records. (Retention: 6 years after account is paid in full or written off, destroy).(10)
Credit and Debit Receipts Records document credit or debit card receipt documenting payment received by agency. Records include customer’s name and account information (Retention: Retain 36 months after transaction, destroy).(11)
Credit Card Administration Records Records documents administration of credit cards issued to institutional staff and units. Records may include applications; master monthly billing statements; individual card holders’ statements; billing summaries; reports including vendor analysis by code; number of charges and stores; use summaries; related correspondence. (Retention: (a) 6 years after card expiration for applications, destroy (b) 6 years for all other records, destroy).(12)
Moving Expenses Records Records document new employees’ moving and travel expenses paid by the institution. Records may include but are not limited to requests for approval-travel and moving reimbursement of new employee forms; purchase orders; travel reimbursement requests; vendor invoices; and receipts. (Retention: 6 years, destroy).(13)
Refund/Disbursements Request Records Records document requests and disbursements made for overpayment and refunds. Records include accounting data for refunds from parking violation fines paid and successfully appealed; tuition and fee refunds when courses are dropped; refunds for event tickets, loan overpayments, change-of-residence, and canceled courses; a log of refunds and requests for reissue of lost checks. (Retention: 6 years, destroy)(14)
Registration Fee Records Records document the payment of registration fees, which are considered travel expenses. Records may include but are not limited to completed registration forms; journal vouchers; invoices; purchase orders; and wire transfer forms. (Retention: 6 years, destroy).(15)
Revolving Charge Agreements Records Records document a student’s agreement with the provisions of the accounts receivable revolving account and his/her intent to attend the institution. Records include agreement forms signed by each student. (Retention: 3 years after last enrollment and account paid in full, destroy).(16)
Travel Records Records document requests for and approval of travel by employees of the institution or the agency; to monitor travel expenditures; for planning purposes; to document changes in dates of travel, changes in the name of the traveler, changes in itinerary, or changes in funding sources within an out-of-state travel authorization; and to document approval for vehicle rental. Records may include but are not limited to out-of-state travel authorization forms, travel itineraries, travel advance forms, travel reimbursement requests (employee and non-employee), receipts, approval memos, vehicle mileage reporting records, memos in place of itemized receipt, affidavits of lost receipt memos, authorizing signatures, airfare documentation and related documentation and correspondence. (Retention: 6 years, destroy).(17)
Unclaimed Property Report Records Records document annual reports submitted to the Department of State Lands of financial assets being held for a person or entity that cannot be found. Series includes Holder Report, owner information, correspondence and other related documents. Note: Unclaimed property is not real estate, abandoned personal property, or lost and found items. (Retention: 3 years after the property is remitted to the Department of State Lands).
Source:
Rule 166-475-0050 — Fiscal — Payables/Receivables Records, https://secure.sos.state.or.us/oard/view.action?ruleNumber=166-475-0050.