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
Approve all AP invoices for the month (this is ongoing).
Review supplier statements and check all invoices are secondary approved/or current (i.e. not due for payment).
Review employee expense claims/advances to ensure they are up-to-date and processed
Review credit card statements to supporting receipts/vouchers and journal expenditure from the department suspense account to relevant cost centre.
Run Invoice Register (CAPSA) report to identify invoices not primary approved.
Run Invoices on Hold (CAPSA) Report to list invoices placed on hold and then action all holds, as necessary.
Review and approve any invoices that are coded to a project and are now "unapproved" as a result of the AP Tie Back process.