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Payments of Invoices Issued Against Purchase Orders

Procurement

View Official Policy: Payments of Invoices Issued Against Purchase Orders Policy

Purchase orders issued by the Procurement office for the purchase of goods and services will result in funds being encumbered in the University’s accounting system. When the goods are delivered to the University or the services are performed, the supplier providing these goods or services will send an invoice to the University requesting payment. Payments will be recorded as an expense and reduce the amount of the encumbrance for the purchase order.

The Accounts Payable staff will process payments to suppliers in a timely manner. Prompt payments foster good working relationships between the University and the suppliers that provide the goods and services needed to operate the institution. The prompt payment of invoices is a good business practice and an Executive Order of the Governor of the State of Georgia requires the payment of invoices within thirty (30) days from the latter of:

  • Date of the invoice
  • Date the invoice is received by the institution
  • Date goods and/or services are received by the institution

Accounts Payable must have completed a two-way match or a three-way match of purchase documentation in order to process payments. The components of a two-way match are a valid, University issued purchase order and invoice. Two-way matching is applicable to purchase orders with a total dollar amount of $2499.99 or less that procure goods only.

The components of a three-way match are a valid, University issued purchase order, invoice, and receiving report documenting receipt of goods or services by the end user department, or Central Receiving, when goods have been delivered directly to Central Receiving. Three-way matching is applicable to purchase orders issued for goods with a total dollar amount of $2500.00 or more and all purchase orders issued for regardless of dollar amount.

The appropriate match should be accomplished and payment processed within the timeframe indicated above. Discrepancies must be resolved before a payment can be processed.

Responsibilities

Responsible University Senior Administrator: Vice President for Finance & Administration

Responsible University Administrator: Associate Vice President for Fnance Division

Policy Owner: Accounts Payable

Policy Contact: Hall Gibson

Phone Number: 706-542-2786

Date Issued: 01/01/2016

Last Reviewed/Updated: