Standard accounts payable policies and procedures
Refer to PPL 9.40.05 Purchasing for further instruction. Refer to PPL 9.10.09 Corporate Credit Cards for further instruction.Īll other goods and services purchased by the University from external providers should be purchased using a requisition, which once approved is dispatched to the supplier as a Purchase Order.
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Low value items (with a value of less than $5,000) are to be purchased using a University Corporate Credit Card. The Accounts Payable process commences upon receipt of an invoice in respect of goods or services provided to the University. These procedures do not apply to payments made through the HR system ( Aurion), or one of the University's Corporate Cards programs.
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These procedures apply to all University staff who participate in the payment cycle on behalf of the University. Terms - Agreed upon rules governing the number of days between delivery and payment, discounts for early payment and penalties for late payment. It must show other information, including the Australian Business Number (ABN) of the seller. It shows the price of a sale, indicating whether it includes GST, and may show the amount of GST. Tax invoice - A type of invoice document which shows the supplier charges for goods delivered or work done and is required from Australian suppliers. Supplier – An entity from which the University buys goods or services. Sending a purchase order to a supplier constitutes a legal offer to buy products or services. Purchase Order - A commercial document issued by the University to a supplier, indicating types, quantities, and agreed prices for products or services the supplier will provide to the University. Invoice - Document which shows the supplier charges for goods delivered or work done. This includes the approval of payment vouchers and the processing of transactions using the UniFi Accounts Payable system.Īccounts Payable – What the University owes another party for goods or services delivered.Īdjustment Note – An adjustment made by a supplier that can be issued as a debit or a credit to the University.ĭelivery Docket - A document produced when goods are received into the company/factory. The purpose of these procedures is to outline the process of payments to external suppliers of the University.