Accounts Payable (AP) describes the procedure for processing supplier invoices and employee expense claims, and other disbursements processed via the AP module. A summary of the AP cycle is given as:
- Invoice Entry - Enter invoice using the batching system
- Coded to an Account - Matching invoices to purchase orders (where raised); coded directly to relevant account/project
- Approval - Primary and secondary approval of purchase invoices
- Payment - Payment of Supplier/Employee by cheque: Finance Division.
Month End Guidance
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Approve all AP invoices for the month (this is ongoing).
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Review supplier statements and check all invoices are secondary approved/or current (i.e. not due for payment).
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Review employee expense claims/advances to ensure they are up-to-date and processed
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Review credit card statements to supporting receipts/vouchers and journal expenditure from the department suspense account to relevant cost centre.
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Run Invoice Register (CAPSA) report to identify invoices not primary approved.
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Run Invoices on Hold (CAPSA) Report to list invoices placed on hold and then action all holds, as necessary.
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Review and approve any invoices that are coded to a project and are now "unapproved" as a result of the AP Tie Back process.