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Payments
Payments take place weekly. All invoices have to be secondary approved in the system by 10h00 on Tuesdays. All payments are made electronically.
The payment selection process commences at 10h00 on Tuesday for payment on the following Monday. This includes all invoices with a due date up to Friday of the following week.
BACS payments
All Sterling University Suppliers are paid via BACS (Bankers Automated Clearing System). This is an electronic payment system whereby money can be paid directly into a supplier's UK bank account on a specified day, without the need to wait for funds to clear.
A remittance advice, with a redacted bank account number, is emailed listing all the invoices the payment relates to. Contact telephone numbers are provided against each invoice paid which will enable the supplier to contact the relevant department directly with any queries.
Direct debit payments
Currently, there are a few instances where suppliers are being paid by direct debit. However, these are exceptional cases, and this method of payment is not encouraged as it is increasingly difficult to control.
If there is an exceptional need, contact the Head of Accounting Services, Finance Division.
Cheque Payments
We no longer make payments by cheque.
Copy supplier invoices
Amounts above GBP £10K require additional verification.
To ensure payments are processed efficiently and accurately, a copy of the invoice must be sent to the Accounts Payable Payments Administrator as soon as it has been processed. If additional approval is required from Procurement services for advance payments, please ensure that it has been obtained before the copy is sent to Accounts Payable.
Urgent Payments
In exceptional circumstances, the Accounts Payable Team can arrange for an urgent payment. For the team to be able to process this payment, the specific invoice needs to be entered into UFS. Please contact the Accounts Payable Team to discuss your requirements.
Latest version 4.3, updated July 2024