Accounts Payable

POLICY STATEMENT

 

Accounts Payable is responsible for overseeing payments to vendors for goods and services required by the University and processing refunds and reimbursements to vendors and employees to include providing accurate, dependable, and timely services to personnel involved in business related travel.

 

DEFINITIONS

 

None

 

PROCEDURES and RESPONSIBILITIES

 

Receiving Procedures

All invoices received that are tied to a purchase order must be processed following the procedures listed below.

·        Once merchandise is received, immediately review the purchase order (PO) to determine if it is complete and if an equipment number is required.

·        If a PO is incomplete, mark the items and indicate the quantity of the items. Make a photocopy of the PO and sign and date the copy and forward it to Accounts Payable.

·        If a PO is complete, sign and date the yellow copy of the PO and forward to Accounts Payable.

·        If the PO contains equipment, please contact the University Property Officer to obtain a DSU inventory number to be used for identification of equipment. Then record the equipment inventory number on the yellow copy of the PO and forward to Accounts Payable.

·        If you receive an invoice, forward it to Accounts Payable. Original invoices are required for payment.

 

Overpayment of Purchase Order Items

The Accounts Payable Department is authorized to overpay a purchase order item with department head approval of an invoice if budget is sufficient and the overpayment is equal to or less than 10% or $100, whichever is less, and does not violate any purchasing limits. Overpayments that exceed budget or exceed the above limits must follow same authorization as the original requisition through purchasing.

 

Check Writing Cut-Off Date

Accounts Payable checks are generally written on Wednesday and Friday, and are usually mailed the same or next day.

 

Approved travel reimbursement requests that reach Accounts Payable department by 2:00 p.m. on Tuesday or Thursday will normally be written the next day unless there is a problem.

 

Other payment requests (approved receiving reports or requisitions) also received by 2:00 p.m. on Tuesday or Thursday will normally be written the next day unless there is a problem.

 

Please note these cut offs help us make timely payments to you and all our other vendors

 

RELATED DOCUMENTS

 

None

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