How vendor payments are processed
After a requisition is initiated in the Finance System, it is forwarded to Purchasing where a purchase order is issued.
The invoice is received by Accounts Payable and entered into the Finance System.
General Ledger entries are created and the department is charged. General Ledger entries for scheduled payments are created when the check is issued.
Payment requests and credit memos that pass the audit process are set up for payment.
Payment requests are routed for Fiscal Officer approval; credit memos are routed for Fiscal Officer FYI; or invoices are auto-approved.
If issues arise between the time the department is charged and the invoice is approved, they will be handled by Accounts Payable on a case-by-case basis.
Finance System Training
Training is available in the Enterprise Business System to help you process Accounts Payable transactions. Depending on the role assigned to you in the Finance System, you will learn to do some or all of the following
- Document routing for payment requests and credit memos
- The process for payment requests and credit memos
- Find and view vendor payments and credit memos
- Check the status of vendor payments and credit memos
- Approve payment requests
- Edit accounting line information
- Review a credit memo FYI message
- Create, approve, hold, or cancel a payment request
- Change the accounting string