Accounts Payable Description and General Functions

Accounts Payable Description and General Functions

Background

Accounts Payable is an integral part of the ECSU Fiscal Affairs department
As a full service center, the unit is responsible for issuing all non-payroll disbursements in accordance with State and University policies.
Our objective is to provide the highest level of customer service to faculty, staff, and external customers while performing the following duties:

  • Process all vendor payments within established terms for goods and services acquired through the University’s purchasing system.
  • Apply all available discounts.
  • Resolve client and vendor inquiries.
  • Monitor the distribution of expenses to the appropriate Index and account code.
  • Track and expedite the close of completed purchase orders.
  • Facilitate timely employee reimbursements and Direct Pay expenses.

POLICIES AND PROCEDURES:

All vendor invoices must be sent directly to the accounts Payable department.
This step allows the department to monitor all outstanding amounts against vendor purchase orders, while reducing the risk of receiving and paying duplicate invoices. Copies of the original invoices are forwarded to the initiating department for approval.
As of 2007, Purchase Orders have been noted with the Accounts Payable information to inform vendors of the appropriate billing address. This procedure is extremely important at the end of the fiscal year. All expenses for that year must be captured and recorded accurately in order to maintain proper accounting records.

Reimbursement of expenses
The University’s policy regarding the reimbursement of out-of-pocket expenses up to $100.00, and other miscellaneous vendor payments is outlined in ECSU’s Direct Pay Policy. To provide clarity on some of the document’s provisions, and expand upon “Allowable vs. Non-Allowable” expenses, the Policy has been revised as of 6/30/2008.
Items such as the non-reimbursement of CT sales tax and other non-reimbursable items are discussed.

Cash Advances
Requests for cash advances must be pre-approved by the department budget authority. An ECSU Cash Advance Memorandum form must be completed and signed before the advance check is disbursed by Account Payable. Attach all receipts to a copy of the Request for Payment and submit to the Accounts Payable Department within 15 calendar days. A completed reconciliation must be received by the 15 day deadline or future advance requests may be denied.
For travel advances, refer to the CSU travel policies through the Travel Information Link.