Accounts Payable
Completing the Procurement Cycle
at Framingham State University
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
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
APPROVALS
• Two types of completed purchase orders
– Receipt Required Orders
• Require a receiving document in Banner
– Standing Orders
• Require an e-mail approval
• Approval requests by e-mails (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 e-mail 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 e-mail 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
RECEIVERS
• Proof of product delivery
– 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
Banner Receiving Cycle
Requisition
Processed
Receiving Process
starts with Mail/Dock
and completes with
Requisition Creator
Receipt of Goods
at FSU
Processed through
Approval Queues and
Purchase Order Issued
Order Processed
and Shipped
Purchase Order
Dispatched
PAYMENTS
• Valid Vendor Payment Address
– 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
Timeline of Payment Processing
Approval of Standing Purchase Order Invoices
Timeline of Payment Processing
Key Dates
“How to” Handouts
• Banner Proof of Payment
– 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
QUESTIONS