Download - LIMITED PURCHASE CHECK ORIENTATION Accounts Payable 145 Park Sandy Jones 1-5748 [email protected]
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LIMITED PURCHASE CHECK LIMITED PURCHASE CHECK ORIENTATIONORIENTATION
Accounts Payablewww.ap.admin.utah.edu
145 Park
Sandy Jones1-5748
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AGENDAAGENDA• INTRODUCTION• PURPOSE• ACQUIRING CHECK STOCK• HOW TO USE THE CHECKS• DOCUMETATION• SENDING TO AP• POSITIVE PAY• PROHIBITIONS• VIOLATIONS• CONCLUSION
• Q & A• QUIZ
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PURPOSE OF HAVING A PURPOSE OF HAVING A CUSTODIANCUSTODIAN
• POLICY • to ensure that policies & procedures
are followed correctly
• SECURITY• keeping checks locked away, you are
the only one with access
• ACCOUNTABILITY • taking responsibility for your stock
and keeping it up-to-date
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THE PURPOSE OF HAVING LPC’s IS…
CONVENIENCE• Can be used for purchases
under $1,000.00• Vendors are paid immediately,
leaving room for negotiable discounts and tax exemption
• The departments have more control over petty purchases
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ACQUIRING THE CHECK STOCK
1
123
2
(1)
(1)(2)
(3)
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HOW TO USE THE CHECKS…HOW TO USE THE CHECKS…
(1)
(2) (2)
(3) (4)
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• APPROVALS • obtain proper signatures and approvals
(reimbursements, meals, alcohol)• DECRIPTION- who, what, when, where & why
• Leave no room for questions• Business meals & entertainments section
• DATES • date of function(s)
• DOCUMETATION• all receipts & invoices must be originals • ONE invoice per check - no exceptions
• W-9 & DOUBLE NAME VERIFICATION
HOW TO USE THE CHECKS…HOW TO USE THE CHECKS…
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HOW TO USE THE CHECKS…HOW TO USE THE CHECKS… & & TURNING THEM IN TO APTURNING THEM IN TO AP
• Send the yellow copy and the backup, nicely stapled with the receipts taped down.
• Double check!! • Is the information legible? Did everything
transfer over to the yellow copy? Is the chart field correct? Etc.
• YOU are responsible for: • making sure that Accounts Payable receives
your copies • Reconciling your management reports
frequently
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APPROVALS
• Reimbursements must be authorized and signed
by the payee’s direct supervisor
• Meals/entertainment must be authorized by the
dean or director
• New memberships must be authorized by the
dean, director, or hospital administrator
• Subsequent memberships may be signed by a
supervisor
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POSITIVE PAY…POSITIVE PAY…WHAT IT IS AND HOW TO USE IT
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POSITIVE PAYPOSITIVE PAY
• POSITIVE PAY is an on-line check register that connects directly to Wells Fargo
• Reporting checks to the bank on a daily basis helps to prevent fraud & helps with a more rapid bank reconciliation
• INNR & Reg $ Differs
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HOW TO USE THE POSITIVE PAY HOW TO USE THE POSITIVE PAY SYSTEMSYSTEM
• MAINTAIN
• Use maintain to enter new checks, undo and/or
update.
• VOID
• This can only be done after the file has gone to the
bank (otherwise, it’s a spoil)
• DISPLAY
• This is a list of all checks you have recorded into the
system; you may use this as your register.
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HOW TO USE THE POSITIVE PAY HOW TO USE THE POSITIVE PAY SYSTEMSYSTEM
• Entering the checks-
• Dates may be changed to six months ago
and up to a year in the future, the color will
show a change
• Any data can be undone or updated before
the file is sent to the bank
• The file is sent to the bank every day after
business hours
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HOW TO USE THE POSITIVE PAY HOW TO USE THE POSITIVE PAY SYSTEMSYSTEM
• VOIDS-• a check may be voided if the file has been
sent to the bank
• SPOILS-• you spoil a check if the bank has not
received the file or the check is otherwise unusable (un-spoil)
• STALE DATES-• checks that are dated more than six
months old are no longer valid and need to be voided and stopped
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PROHIBITIONSPROHIBITIONS
• ISSUING A CHECK FOR OVER THE $1,000.00 LIMIT
• PAYMENT ON BEHALF OF NON-RESIDENT ALIENS OR TO FOREIGN VENDORS
• EMPLOYEE TRAVEL - HOTEL DEPOSITS AND CONFERENCE PRE-REGISTRATIONS ARE THE ONLY TRAVEL RELATED PAYMENTS THAT ARE ALLOWED
**Prohibitions are defined within the user’s guide
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VIOLATIONSVIOLATIONS
• A $12.00 processing fee will be charged to the default chart field
• Three violation within a 90 day period
will result in a loss of privileges
• We all make mistakes, even me! Some of the most common include:• Missing information• Missing documentation• Amounts do not agree• Incorrect signatures or lack of
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CONCLUSIONCONCLUSION
• THESE CHECKS ARE YOUR RESPONSIBILITY
• READ THE USER’S GUIDE!!!• It is vital that you familiarize yourself and your
department with the University’s policies, procedures, and guidelines to avoid violations and loss of privileges.
• The user’s guide can be found on the Accounts Payable website
http://www.ap.admin.utah.edu/IDX/LPCIDX.html
• Q&A
• QUIZ