Vendor to Voucher Accounts Payable Workshop

Vendor to Voucher Accounts Payable Workshop
November 7, 2018

Corresponds to Vendor To Voucher Page 1
Accounts Payables Kim H. Kelley Assistant Controller Accounts Payable Yvette Walker - Manager Purchase Order Invoice Processing Vendor Processing Check Writing & Data Storage Terressa R. Yeakle Best - Manager Small Purchase Processing Travel Audit Training Corresponds to Vendor To Voucher Page 1 Who are the staff? How is AP broken up? November 7, 2018 University Controllers' Office

agenda for today How to get from Vendor To Voucher? Authorize It
Ways to Purchase Spending Guidelines Projects Review It Invoice Review Code It Expense Accounts Enter It Processing a Payment in Financials Corresponds to Vendor To Voucher Page 1 Vendors Invoice to a Voucher payment November 7, 2018 University Controllers' Office

1 Purchase Processing Structure Within a Department
*Must maintain a Separation of Duties between employees for these purchasing functions… Purchase Authorizations Ordering & Receiving of Goods/Services Voucher Processing & Approval Monitoring & Reconciling AP Transaction Corresponds to Vendor To Voucher Page 1 “Purchasing has delegated Purchasing responsibilities to Campus” “All departments are required by General Statute to purchase goods and services in accordance with polices and procedures established by the department of administration.” Does your department have segregation of duties? Review points on slide 1 November 7, 2018 University Controllers' Office

Responsible Business Unit
Ways to Make a Purchase Available Purchasing Tools Responsible Business Unit Market Place Purchasing Purchase Order /Requisition ~over $ PCard Small Purchase Voucher ~Under $ Controller’s Office Accounts Payable Corresponds to Vendor To Voucher Page 1 Review each section 1 November 7, 2018 University Controllers' Office

1 Ways to Make a Purchase Small Purchase Voucher
*Purchases Under $ Department Responsibilities Authorize purchase-applying N CSU spending guidelines Document 3 quotes Use state term contracts / better pricing options Do not split orders over $5,000-Process a purchase requisition Corresponds to Vendor To Voucher Page 1 Review slide Stress fiscal responsibility and business purpose Do not make purchases from MarketPlace vendors outside of marketplace i.e. Going to staples to make a purchase, and then process an employee reimbursement. Loss leverage with price negotiations 1 November 7, 2018 University Controllers' Office

1 Ways to Make a Purchase Small Purchase Voucher
*Purchases Under $ More Department Responsibilities Communication with the vendor Confirm order Tax exempt status Ship to/Bill to address University terms - net 30 Ordering and receiving merchandise/ services Verify merchandise received Document received date Voucher entry and Campus approval Scan Invoice to the voucher ,so that it will route to AP for approval Corresponds to Vendor To Voucher Page 1 Responsibility does not end with the purchase Department must see the payment through completion Must maintain open lines of comm. With vendor 1 November 7, 2018 University Controllers' Office

authorize it 2 Policy Resources
As an agency of the State of North Carolina, university polices are derived from, and mandated by, the State of North Carolina. The Office of State Budget Management provides the manual which lists and defines the State’s policies and procedures. North Carolina Budget Manual Basic Spending Guidelines by Fund Source Purchasing Policies and Procedures Corresponds to Vendor To Voucher Page 2 Show Controller’s Website Basic Spending Guidelines- Show Allowable & Unallowable Expenses Purchasing’s New Website –Source & Procurement Training, Buying goods, Debarred Vendors 2 November 7, 2018 University Controllers' Office

authorize it 2 Funding Your Purchase
All Funding Sources must be able to …pass the Appearance & Reasonableness Test …meet documentation requirements Corresponds to Vendor To Voucher Page 2 How are you going to pay for the purchase? No matter what the purchase the bullets must apply Show Example-N&O article of ECU Calls 2 November 7, 2018 University Controllers' Office

authorize it 2 Basic Spending Guidelines by Funding Source
– – General Operating Funds Follow State Guidelines Overhead Receipts Trust Funds Follow state guidelines 37xxxx Auxiliary & Sales and Service Trust Funds Follow state guidelines, except some funds can be used to purchase meals and/or refreshments as stated in the fund authority 5xxxxx Contract and Grants Follow all state guidelines, sponsor specific terms, and conditions noted in the award document. 6xxxxx Foundation Funds Expenditures must follow the restrictions set forth by the donor. 7xxxxx Gifts and Endowment Income Trust Funds 9xxxxx Agency Trust Funds Funds held by the university for accounting purposes. Funds are exempt from university and purchasing regulations and guidelines. Corresponds to Vendor To Voucher Page 2 Over these Mention spending guidelines and Budget office A list provided to hang up for easy access 2 November 7, 2018 University Controllers' Office

review it Corresponds to Vendor To Voucher Page 2
…so you’ve received an invoice Corresponds to Vendor To Voucher Page 2 So you’ve authorized your purchase, making sure appropriate, Placed order Received merchandise November 7, 2018 University Controllers' Office

review it 2 Invoice Review Review the vendor’s invoice for
Billing Accuracy Verify shipment has been received Complete Remittance Information Payment Terms *Never make an invoice for a vendor! Corresponds to Vendor To Voucher Page 2 Not all invoices are the same Some elaborate-some simple Never make an invoice for a vendor If you have to request payment for a stipend, honorarium, or award-type a memo requesting the payment No invoice number-use account number, invoice number-significant to vendor 2 November 7, 2018 University Controllers' Office

code it Corresponds to Vendor To Voucher Page 2
… What is the Business Purpose of the Purchased Item or Service? Corresponds to Vendor To Voucher Page 2 You should already know this from the authorization process November 7, 2018 University Controllers' Office

code it 2 Account Basics Corresponds to Vendor To Voucher Page 2
The Account Code is a 5 digit number used to classify the transaction. 1xxxx – Assets 2xxxx – Liabilities 3xxxx – Fund Balance 4xxxx – Revenue -Receivables 5xxxx – Expenditures -Payables Corresponds to Vendor To Voucher Page 2 Accounts to select from Expense accounts begin with a 5 2 November 7, 2018 University Controllers' Office

code it 2 Selecting an Expense Account
Question to Ask Yourself … What is the Business Purpose of the Purchased Item or Service? 51000 – Personnel Services 52000 – Supplies and Materials 53000 – Current Services (Travel, Utilities, Services) 54000 – Fixed Charges ( Rental, Maintenance) 55000 – Capital Outlay (over $5,000) 56000 – Aids and Grants Corresponds to Vendor To Voucher Page 2 Start with the general account then Review the chart of accounts to pinpoint which account to use Also lookup feature when entering the voucher 2 November 7, 2018 University Controllers' Office

code it 2 Selecting a Category ID
Question to Ask Yourself … What is the General Business Purpose of the Purchased Item or Service? Category ID”s are used by Purchasing for reporting to the State. *Abuse of these Categories can result in the loss of the Small Purchase voucher capability for your department. Most purchases fall under 888SP-Routine Small Purchases Corresponds to Vendor To Voucher Page 2 Some cat ID’s are used in conjunction with certain accounts 51950 & Honorarium & NA15 Stipend Review descriptions to see what is allowed Specific instructions Show must and may May: Athletics & University Payroll 2 November 7, 2018 University Controllers' Office

enter it …getting from invoice to payment Corresponds to Vendor To Voucher Page 3 November 7, 2018 University Controllers' Office

enter it Vendor Center Processing Does your vendor already exist? Does it need a remittance address change? Will you Need to add a Vendor? Vendor Verification US Citizen - Request W-9 Taxpayer Identification Number and verification Non US Citizen – Copy of VISA/PASSPORT required Three Types of Vendors Suppliers Employees Students *If a Student & an Employee, their student status supersedes their employee status Corresponds to Vendor To Voucher Page 3 3 November 7, 2018 University Controllers' Office

enter it Voucher Processing Originator will… Enter the following information from the vendor’s invoice under Voucher Entry… Vendor No. Vendor Remittance Address Invoice No. *if none listed, use account no. Invoice Date Goods & Services received date Project and Account Category ID Handling Preference Corresponds to Vendor To Voucher Page 4 Discuss Remittance Address (can’t change students or employees) Handling preference: NH, PU, AD 4 November 7, 2018 University Controllers' Office

enter it 4 Voucher Processing Campus Approver will…
Verify the following information from the vendor’s invoice under Voucher Approval… Vendor No. Vendor Remittance Address Invoice No. Invoice Date Goods & Services received date Project and Account Category ID Handling Preference Corresponds to Vendor To Voucher Page 4 Certifying that the expense is proper 4 November 7, 2018 University Controllers' Office

enter it Payment Methods *Scheduled Payment Dates are calculated 21 days from the vendor’s invoice date to meet the State’s terms Express check request Checks are printed in the Controller’s Office System check writing Checks are printed at our bank in Winston-Salem Domestic and Foreign Wire transfers NC State Agency payments Corresponds to Vendor To Voucher Page 4 5 November 7, 2018 University Controllers' Office

Enter Your Unity ID and Password
getting connected Click Desktop Icon ACS.NCSU Enter Your Unity ID and Password Select EP91TRN ALT Select the RED NCSU User ID: USER## Password: TRAINING PeopleSoft 8 Portal Site Vendor ID for Invoice 8390-Wolfe Industries Show how to look-up a vendor under Add/Update Use Wolfe November 7, 2018 University Controllers' Office

Vendor to Voucher Accounts Payable Workshop

Similar presentations

Presentation on theme: "Vendor to Voucher Accounts Payable Workshop"— Presentation transcript:

Similar presentations

About project

Feedback

Log in

Auth with social network:

Vendor to Voucher Accounts Payable Workshop

Similar presentations

Presentation on theme: "Vendor to Voucher Accounts Payable Workshop"— Presentation transcript:

Similar presentations

About project

Feedback