New billing and accounts receivable module in Mosaic

July 19, 2018

McMaster has implemented the billing and accounts receivable modules of the Mosaic system across the University.

This new functionality within Mosaic, known as MacBill, ensures external customers are billed on a timely basis, and payments can be easily tracked and identified for customers.

  • Successful implementation will have many benefits to the University, including:
    • Billing units will be able to generate an official invoice (McMaster format, customizable by department/billing unit)
    • Issuing Billing Units can easily send reminder notices to customers until the invoice is paid.
    • Complete listings of aged outstanding amounts due from customers will be available by department and chartfield
    • Fewer ‘unclaimed payments’ are expected
    • Billings can be integrated with the Research Grants module.
    • Duplicate billings should be reduced
    • Revenue will be recognized at the time of invoicing
    • Research Project statement will have additional information on outstanding invoicing

Implementation

  • A phased rollout has begun with a small group of users who tested functionality and provided feedback and insight into the training, communications and rollout across the rest of the University.
  • Since June 1, 2018, over $200,000 in invoices have been issued by Phase One users in MacBill, 
  • A comprehensive training and communication plan have been developed to support a smooth rollout.
  • Over the summer the project team will be focused on Phase 1 User support and planning for Phase 2 (Fall) and Phase 3 (Winter) go lives.

Billing Units in Phase 1 currently using MacBill include:

  • FHS Research Finance
  • FHS Finance
  • Engineering
  • Conference Services
  • Student Accounts and Cashiers

Why do we need MacBill?

  • Currently, an estimated 20,000 invoices are issued annually by departments and research offices using various accounts receivable systems ranging from purchased software to excel worksheets.
  • Inconsistent invoicing and follow up is widespread, resulting in a large number ($829k- April 30, 2017) of ‘unknown’ payments being received each month in the Cashiers’ Office.
  • The Billing and Accounts Receivable module within Mosaic will eliminate inconsistencies and improve the university’s billing and accounts receivable process.

Project Support

  • Support will be available pre and post go-live to ensure users are comfortable working in the new system.

If you have any questions about the project, please contact Nancy Gray, Director of Finance,
graynan@mcmaster.ca . Additional Project Updates are available on Mosaic News.