Here are the accounts receivable services available at Texas A&M Engineering Experiment Station (TEES) and the Texas A&M College of Engineering.
Account Reconciliation
We do monthly account reconciliations to ensure financial records are accurate, complete, and aligned with both external and internal system data. Reconciliations are performed within Cadency for many accounts, while others are completed manually. This process includes all local and state bank accounts, as well as various general ledger clearing accounts.
Banking
We provide a variety of banking-related services to support TEES financial operations. These include processing outgoing wire transfer requests, depositing incoming checks, and providing accurate banking information for vendor setup on the customer’s end. We also manage returned payments, process Stop Payment and Positive Pay items, handle check cancellations, monitor automated clearing house (ACH) fraud activities, and maintain all banking documentation for audit and compliance purposes.
Collection
We manage collection efforts for past due receivables by compiling outstanding invoice reports, sending monthly notices, and collaborating with the billing departments. We are also responsible for initiating state holds on customers with significantly overdue invoices and processing write-off requests for invoices deemed uncollectable in accordance with applicable system policies.
Credit Card Payment Management
We administer all credit card payment processes across TEES. This includes integrating external payment gateways with various registration platforms, applying payments, issuing refunds, and resolving payment-related issues. We also coordinate with Texas A&M University Accounting Services (UAS) and the System Office Treasury to ensure compliance with Payment Card Industry (PCI) standards and promote adherence to industry’s best practices.
Deduction from Income Processing
A deduction from income (DFI) is processed to issue refunds to other Texas A&M system members and external customers in the event of an overpayment. For assistance with processing a DFI, please contact teesar@tamu.edu.
Gift Handling
We ensure that all gifts (monetary or in-kind) received from The Foundation or other external donors are processed into the appropriate accounts in compliance with Texas A&M system policies and procedures. In-kind gifts are reviewed, documented, and valued in accordance with established guidelines to ensure accurate reporting and accountability.
Interdepartmental Transfers
Interdepartmental Transfers (IDT) are used to transfer funds between TEES internal accounts via iPayments. For assistance with processing IDT, please contact teesar@tamu.edu.
Invoice Modification and Correction
We are responsible for modifying invoices and invoice corrections. Invoice amounts can be reduced, increased, or cancelled altogether. Please email us at teesar@tamu.edu with these requests.
New Customer Number Creation
We are responsible for establishing and maintaining customer accounts to support accurate billing, payment tracking, and financial reporting. New customer accounts are initiated through requests submitted by internal TEES departments using the Customer/Sponsor Number Request Form (Internal/External).
Non-Sponsor Billing
The TEES Fiscal Office provides shared services to other Texas A&M system members and manages various rental agreements with both System members and industry partners. We are responsible for issuing invoices according to the agreed-upon terms and tracking payments to ensure timely collection.
Payment Application and Inquiry
We ensure that all payments received (via ACH, check, wire, credit card, or other methods) are processed accurately and promptly. This includes applying payments to the appropriate accounts, processing payments for invoices, reducing expenses, and handling other applicable financial transactions. If you have any payment questions, please reach out to teesar@tamu.edu.
Payroll Tax Remittance
We ensure that biweekly and monthly payroll taxes are submitted to the appropriate federal and state agencies in a timely and accurate manner, maintaining compliance with all relevant regulatory requirements.
Reduction to Expense Processing
A reduction to expense is initiated when a reimbursement is received for a transaction that was previously expensed. To ensure accurate accounting, the reimbursement must be associated with the original expense voucher so that the appropriate TEES departmental account is properly credited. We are responsible for confirming receipt of payment, verifying the original expense account, processing the reduction, and maintaining the required documentation.
Unclaimed Property
Issued checks that remain uncashed for over one year for payroll or three years for external vendors must be reported to the State of Texas as unclaimed property. We collaborate with the Payroll and Business teams to manage the outstanding check list and are responsible for remitting unclaimed property annually in June.
Wire Transfer Handling
Wire transfer requests are submitted through AggieBuy or via email to facilitate payments to foreign entities for products or services provided to TEES. We are responsible for verifying the completeness and accuracy of supporting documentation and beneficiary bank details, processing foreign exchange and wire transactions through Wells Fargo, providing final approval for fund transfers, and notifying the System Office Treasury of daily wire activity.
Working Fund Processing
We verify the accuracy of information submitted on temporary working fund requests form, obtain the necessary approvals from designated authorities, and create a corresponding invoice based on the temporary working fund request form. In addition, we monitor and track the repayment of working funds and proper reconciliation.