- oProvide 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.
- oFARIAGE Invoice Aging
- Printer: Database
- As of date: today
- Save
- Related > Review Output > select file name
- Tools > Show Document (Save and Print File)
- oResolve vendor credit balances.
- Apply credits to current vendor invoices, where applicable.
- Request a refund from the vendor in writing and schedule to follow-up.
- oResearch and resolve any remaining items before closing the month.
- oEscalate any unresolved payment issues >60 days to Controller/VP including issue, transaction details, and recommended action.
Printing Checks and Sending ACH Payments
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):
Required documents and access:
- Banner
- Check stock
- Bank access
Frequency and timing:
- Minimum twice weekly, generally Tuesdays and Thursdays
Steps:
- Match approved invoices with receivers.
- oFABMATC Receiving Matching Process
- Printer: Database
- Exclude future receipts: No
- Save
- Related > Review Output > select file name
- Tools > Show Document (Save and Print File)