CATS December 12, 2007 Jennifer Foutty, Purchasing Purchasing Update CATS December 12, 2007 Jennifer Foutty, Purchasing

Agenda Paying Speakers, Lecturers, Honoraria Confirming Orders Receipt of Invoices Extending POs

Paying Speakers, Honoraria A recent audit was completed by Internal Audit One of the recommendations will be to move all compensation for services to EPIC Process can be found on the purchasing web site: www.indiana.edu/~purchase and look for Institutional Procedure Guidelines

Confirming Orders Any order: Where an invoice is received before the PO is issued Where the work has started or the goods are delivered before a PO is issued This will be a finding on the upcoming audit – Internal Audit can run reports by organization Please help us communicate to your organization: and order is not a valid order until the PO is issued to the vendor

Receipt of Invoices All invoices must go directly to A/P unless and exception has been made in writing This was the outcome of a previous Internal Audit because of: Timeliness of payment Internal Controls The Fiscal Officer can still see the invoice image on the PREQ

Extending POs There is no specific guidelines whether to extend a current PO or issue a new one For goods, it is best to issue a new PO For services, if the terms are the same, it might be best to extend the current PO

Q&A Jennifer Foutty jfoutty@indiana.edu