Provide a list to clerks to contact the receiving department to confirm and enter receiver.
Review payable invoice aging weekly to resolve any invoices outstanding >30 days.
FARIAGE Invoice Aging
Printer: Database
As of date: today
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Resolve vendor credit balances.
Apply credits to current vendor invoices, where applicable.
Request a refund from the vendor in writing and schedule to follow-up.
Research and resolve any remaining items before closing the month.
Escalate any unresolved payment issues >60 days to Controller/VP including issue, transaction details, and recommended action.
For good internal controls, checks should not be returned to the requestor. They should be mailed directly to the vendor at the address on file in the vendor record as validated by Purchasing in routine vendor maintenance.
In rare instances when a check must be hand delivered, for example to a performer, the chain of custody of the check must be documented with signatures at each hand off.
Responsible position(s):
Accounts Payable Manager
Banner
Check stock
Bank access
Minimum twice weekly, generally Tuesdays and Thursdays
Steps:
Match approved invoices with receivers.
FABMATC Receiving Matching Process
Printer: Database
Exclude future receipts: No
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