Office of Financial Services Accounts Payable Office of Financial Services

Agenda Definition Responsibilities Payment Terms & Methods Payment Timetable Invoice Flowchart Exceptions Stats Staff Forms

Definition Responsible for Payment process Payment methods Approval process Disbursement control PO payment released only when a 3-way match complete PO Receiver Invoice

Responsibilities Vendor payments Internal payments Purchase Orders Payment Request Internal payments Reimbursements Business travel expense

Payment Terms & Methods Net 30 No late fees Tax exempt ACH (electronic payment) Credit Card (no fees) Wire (same day) Paper Check *at the discretion of AP dept.

Payment Timetable Reimbursement check requests Within 5-6 business days Vendor Invoices Net 30 All payments issued: Tuesdays and Thursdays Paper Check Pickup or USPS No Campus Mail

Invoice Invoice number Invoice date Terms Dollar Amount Statements, pro-forma invoice, quotes, estimates are NOT invoices

Payment Request Form Invoice/Receipt Supporting documents ACH form Wire form

Examples: Membership fees Insurance premiums Conference/seminar fees with a registration form or invoice attached Courier charges Postage Required licenses and permits with an invoice attached (excludes Information Technology) FIT visitors-travel and expense related reimbursements Travel advances Short term (1 time) consultant services Honorarium and stipends Unclaimed property Personal service contracts, legal counsel, financial advisors, and others deemed appropriate by the Chief Financial Officer.

Volume Stats Fiscal Year 17 Payment Request/CC 3,798 Travel Expense Paper: 990 TEM: 668 ACH/Wire 611 PO Invoices 10,190

Staff All non-PO request review against budget & approval for payment Emergency payment Maria Suarez xt.8150 All PO Invoices Payment processor Wire/ACH request Aleyda Bullen xt.8025 Travel expense/TEM review Credit card vendor payment Payment request Kayla Krause xt.7582

Forms Payment Other forms Payment Request (budget review) ACH Wire Transfer Other forms Trip Itinerary Approval Travel Promissory Note Travel Expense Report ACH Enrollment