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The Accounts Payable module interrelates with the Accounts Receivable, Grants, Fixed Assets and General Ledger modules. It is essential that all supplier invoices and all expense claims, whether from employees, students or individuals, are processed in the correct accounting period.

Tasks required

Final date for completion

Process all 2016-17 internal trading AP invoices

Mon 14 Aug

 

Run the Invoices on Hold and Invoice Register reports

Mon 14 Aug

 

Identify remaining internal trading invoices in dispute and notify Finance Division

Mon 14 Aug

 

Process all July AP invoices

Wed 16 Aug

 

Process all staff and visitors’ expenses

Wed 16 Aug

 

AP Module closes at 5pm

Wed 16 Aug

 

Return supplier statement reconciliations to Fin Div.

Fri 25 Aug

 

 



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In case of queries please contact the Accounts Payable Helpdesk,

Tel. 66888 or email UFS_AP@admin.cam.ac.uk

ON THIS PAGE

Accounting for AP invoices

Please ensure that all supplier invoices received after 31 July are accounted for in the correct period.

From 10 August, the AP Team will be issuing daily reports listing:

  • August invoices posted in July; and

  • July or earlier invoices posted in August (if applicable).

This enables users to check these invoices have been accounted for in the correct period. In all cases please ensure that invoices are only processed in July if the goods were received in July, if you see an invoice processed in the wrong period please correct this before AP closes on 16 August.

Reports will be sent to the same users as the supplier reconciliation notifications – please notify UFS_AP@admin.cam.ac.uk if this should be any different.

The Accounts Payable module will close at 5pm on Wednesday 16 August. Invoices relating to 2016-17 processed after this date should be accrued, if material in value (see Accruals).


Review of outstanding invoices

Departments are reminded to please ensure that both the Invoice Register and Invoices on Hold Report reports are reviewed and all holds/queries are dealt with accordingly.

  • Run and review the Invoice Register (UFS) report showing all invoices not yet primary approved (i.e. validated). Validate and Secondary Invoice Approve (SIA) or cancel as appropriate.
  • Review the Invoices on Hold Report (UFS) and remove the holds/receipt delivered goods or services where appropriate.

NB “Invoices on hold” (other than those only awaiting secondary approval) at period end will not be ‘accrued’ or charged in General Ledger. The AP Team will regularly distribute the “AP Holds and Unaccounted Transaction Report (UFS)” to departments.


Review Internal AP invoices for 2016-17

  • To be processed by 14 August with a GL date of July 2017 or before.
  • Invoices that have not been reviewed and validated by 5pm Monday 14 August will be automatically approved.
  • For invoices in dispute, the department should process and validate these, but should also place an internal dispute hold on the invoice.
  • All invoices in dispute which cannot be resolved should be referred to the AP Helpdesk by Monday 14 August for advice.
  • Any necessary accounting entries for disputed invoices will be agreed with both departments and posted by the Finance Division.
  • Disputes resolved by the Finance Division will be notified to departments by Wednesday 16 August.

Enter and approve purchase (AP) invoices for 2016-17

Invoices processed after 31 July should be classified between:

  • July 2017 or earlier purchases (ie. ONLY goods/services received on or before 31 July should be recorded in July accounts. The purchase order date is irrelevant).
  • August 2017 purchases (for the new accounting year). For invoices dated July that relate to August purchases (eg. equipment rental payable in advance), the GL date should be changed from July to August.

Goods/services ordered in July or earlier but delivered/received in August are August purchases and must be recorded in August.

For invoices dated August that relate to July purchases (where the goods/ services were delivered/received prior to the end of July)

  • Ensure that the GL date on the invoice header screen and the invoice line screen is amended to 31 July 2017, prior to approval of the invoice.
  • Do not change the GL date shown against the VAT line.

For invoices dated August that relate to August purchases

  • Invoices for August purchases should retain the August GL default date.

NB: The Accounts Payable module will continue to accept July and prior purchase invoices until 16 August. Thereafter, all invoices will have to be processed in the new accounting year 2017-18. Invoices relating to the 2016-17 year received after 16 August should be ‘accrued’ as creditors – based upon the guidance issued within Creditors.


Barclaycard statements


The July statements will be available to print from 14 August.

Each cardholder will have a statement but departments should be able to print / download into PDF all statements in one go.

The statement dated 11 August 2017 will be posted into the July 2017 accounting period. Any grants expenditure should be journalled from the control account onto the research grant by the 16 August (close date of the Grants module is 18 August).


Staff and visitors’ expenses

Expenses need to be processed in the appropriate financial year. As expenses are paid in arrears, please ensure July (or earlier) expenses have a July 2017 GL date and an appropriate Expenditure Item Date if charged against a grant.


Review and return supplier statements

All supplier statements should be reviewed for invoices relating to 2016-17 to ensure they have been processed.

  • Statements from suppliers should be requested, retained and checked to AP invoices.

  • Records should be kept for audit purposes.

On Monday 10 July, Finance Division will issue a list to each department of their Top 20 suppliers, by value for the year. From this list you will be required to select ten of these suppliers (having considered both the value and number of transactions) to reconcile and return to the Finance Division.

  • The statements from suppliers should be requested, retained and checked to Accounts Payable invoices.

  • Records should be retained for audit purposes.

  • The Department’s ten supplier statements should be returned to the AP helpdesk, Finance Division by Friday 25 August.

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