1. Completing the Procurement Cycle at Framingham State University
Accounts Payable
Completing the Procurement Cycle at Framingham State University

2. INVOICES All invoices must be addressed to: Accounts Payable
Here’s why!
Review and validation
Vendor relationship maintenance
Timely payment policy of Mass/OSC
“…the default payment date will be on or before the statutory requirement calculated from the later of:
The date services were rendered or goods received, or
The date of receipt of an invoice”
The OSC require that the date of payment is 42 days after the above

3. INVOICES Additional measures to provide accuracy and support
Accounts Payable Invoice Logs govern
Regular invoices by business office date of receipt
Utility Invoices by vendor and date of receipt
Direct payment and special processing requests
Pick-up checks after 3 PM
Pre-arranged special items with minimum 7 days notice

4. APPROVALS Two types of completed purchase orders
Receipt Required Orders
Require a receiving document in Banner
Standing Orders
Require an approval
Approval requests by s (Standing Orders)
Accounts Payable staff scan invoices and send to the department (chairs) approver and the requisition creator on Day 1 of invoice receipt in the Business Office.
A second request to recipient(s) named above plus the Dean/Asst. VP/Director will be sent on Day 8 if no reply from the first request.
A third request to will be sent on Day 11 and will include the Vice President associated with the particular function.
Department approver must reply with their approval, denial or other information regarding the payment status of the invoice in question.
Only authorized department approvers may approve payment of invoices

5. RECEIVERS Proof of product delivery Completes the 3-way match
Receivers are started by the mailroom/dock staff
Receivers are completed by the requisition creator
Receiving workflow to requisitioner automatically occurs
Completes the 3-way match
Confirms the loop from requisitioner to purchase order processesor to receipt of goods
Meets the Banner controls for payment

6. Banner Receiving Cycle
Requisition Processed
Purchase Order Dispatched
Receipt of Goods at FSU
Receiving Process starts with Mail/Dock and completes with Requisition Creator
Processed through Approval Queues and Purchase Order Issued
Order Processed
and Shipped

7. PAYMENTS Valid Vendor Payment Address Commonwealth’s Terms
Departments are responsible for the confirmation of accurate data for each purchase
Commonwealth’s Terms
Standard payment term is N/42 days
FSU Payment Terms
Our terms unless pre-negotiated are N/30 days
Prompt pay discounts
It’s your money!
Biggest issue – invoices don’t arrive on time to take the discount

8. Timeline of Payment Processing
Approval of Standing Purchase Order Invoices

9. Timeline of Payment Processing
Key Dates

10. “How to” Handouts Banner Proof of Payment AppXtender FOIDOCH FAIVNDH
Workflows
AppXtender
Copies of invoices & checks at your desk
Viewer status is available upon request
Viewer training is available from the Business Office

11. QUESTIONS