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Accounts Payable
Processing Schedule
Processing time for check requests requiring prompt payment follows. Invoices and other payments are paid according to terms. University terms are net 30 days.
(1):
Documents received are date stamped and sorted by type of payment and alphabet.
Utilities, Telephone, Cable, Freight, and Travel receive priority.
(2):
Documents are vendor coded and made ready for input into PeopleSoft.
New Vendors, documents that have erroneous coding (account, fund, org etc.) or missing approvals are delayed until the vendor is added, and /or proper approvals obtained, and/or correct information is supplied.
(3):
Documents that have been successfully input are sorted by Calls, Enclosures, and
Mail status.
Each category is then sorted by vendor number for a check process audit.
(4):
Tuesdays and Thursdays, all input items are processed in payment runs.
(5):
Wednesday and Friday mornings, checks are printed and electronic payments are
made.
(6):
Checks are mailed on the same date as the date on the check.
