Accounts Payable (“AP”) is the department responsible for disbursing non-payroll payments to students and employees. Non-payroll disbursements consist of student refunds, travel reimbursements, etc. Accounts Payable is also responsible for processing and paying vendor invoices in a timely and efficient manner. Since accurate and punctual payments are critical to maintaining excellent vendor relationships and protecting the College’s credit rating, it is imperative that invoices are thoroughly reviewed and approved by the department making the purchase, and submitted to AP for payment in a timely fashion.
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- Completing and Submitting the Check Request Form
Processing Time & Check Distribution
Properly authorized invoices and payment requests will be processed within ten (10) business days of receipt. It is the policy of the College to mail all checks unless it is clearly stated on the request that it should be held for pick-up. Vendor checks are mailed to the vendor’s address as shown on the invoice. If a department wishes to send the check to a different address, please indicate this on the “Special Handling” portion of the Check Request form.
Frequency of Check Runs / Checks Processed Outside Normal Cycle
Accounts Payable issues checks once each week on Thursdays. If checks must be printed outside the normal processing schedule, the department requiring the additional check processing must provide valid reason and receive approval from the Colleges Controller or Assistant Controller.
Discounts and Credits
Discounts represent a vendor’s agreement to reduce the price below the amount invoiced for the goods or services if payment is made within the discount period. The College benefits from these discounts, so please submit invoices before the discount period expires.
Credits represent a vendor’s written statement that money is owed to a department and that the College has the right to deduct such credit from the next payment to that vendor. Credits from credit memos are taken immediately. If a credit is received in the form of a refund check, the check must be deposited using the same Peoplesoft Chartfield values that the payment was charged against.
Past Due Amounts
Any amounts showing as “past due” on the invoice should be researched prior to submitting the invoice to Accounts Payable. If the amount showing as “past due” has in fact been paid, the past due amount should be removed from the invoice total.