Payment requests are reviewed to ensure that payments comply with internal and external rules and regulations governing the use of University funds. (312) 362-5336 Thanks for your visit! POLICY STATEMENT . The Accounts Payable department is responsible for processing payment requests for approved goods, services and travel expenses incurred on behalf of the University. Section 1 – Introduction to Accounts Payable . Background The Accounts Payable Department is the culminating area for the flow of processes to acquire and pay for goods and services throughout the University (with the exception of payroll). Accounts Payable. Approval for Payment 3 C. Receipt of Goods and Services 4 Section 2 – Authoritative References for Disbursing State Funds 2 Section 3 – Disbursement Policy A. For key policies related to payment of invoices through AP, see Related Information. Accounts Payable is responsible for ensuring that payments for all purchases and expense reimbursements are processed and reported in accordance with university policy, state and federal laws and regulations. Adequate Documentation 3 B. This section manages and ensure compliance for vendor/supplier information for University payments and assists in facilitating payments to nonresident aliens. The Accounts Payable Team strives to provide professional and courteous service to both internal and external customers, helping to ensure an efficient process, while complying with University policies and procedures, as well as federal and state regulatory requirements. 1. Accounts Payable is also responsible for the Voiding and Reissuing of Payments made by the University. Accounts Payable (AP) is the central unit within Corporate Financial Services that provides disbursement of non-payroll expenditures for the campus community, excluding vendor payments for the hospitals. To provide operating policies for the handling of accounts receivable as needed for operations of the University; To minimize risks as related to accounts receivable Because all activity relating to these payments is identified with an individual or organizational vendor, the Accounts Payable Office also maintains the university… Consequently, it is imperative that the all processes prior to reaching Payables be complete and accurate. UNIVERSITY OF NORTH CAROLINA SCHOOL OF THE ARTS Accounts Payable Policies and Procedures . 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. Accounts Payable is responsible for: Payments for goods and services that University employees and students procure through purchase orders, requisitions, and other means Reimbursements for expenses incurred by University employees and students in the conduct of University business Accounts Payable is responsible for processing invoices and issuing payments for Companies and Individuals. These policies and procedures are applicable to all McNeese employees who participate in the management and collections of accounts receivable. Accounts Payable Policies and Procedures I. ROWAN UNIVERSITY POLICY . Objective. This includes payments to Foreign Nationals, students, faculty, staff, and independent contractors. Title: AP General Payment Policy (previously called Invoice Processing and Disbursements) Subject: Accounts Payable Policy No: FIN: 2014:05 Applies: University-Wide Issuing Authority: President Responsible Officer: Senior Vice President for Finance and CFO Adopted: 01/24/2010 Last Revision: 12/22/2020 Last Reviewed: 12/7/2020 At UCR, although many purchases are decentralized, all invoices for payments must be submitted to Accounts Payable. Accounts Payable is responsible for safeguarding public assets, maintaining internal controls, and ensuring that all payables-related proceedings fall into compliance with Federal, State, and University policies. The Accounts Payable Office is responsible for processing payments for goods, services and other non-salary expenses. Accounts Payable is responsible for the payment of goods and services to vendors as well as reimbursements to individuals for costs incurred as part of University business. Page . 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