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6-6-2 Invoice Payment Process

Table of Contents

  1. Introduction
  2. Area Commission
  3. Information Technology
  4. Plans and Analysis
  5. Marketing
  6. Financial Affairs

    6-1-1 Annual Report

    6-1-2 Travel Authorization & Reimbursement

    6-1-4 Student Travel, Authorization & Reimbursement

    6-2-1 Professional Development Program

    6-2-2 Memberships in Professional Organizations

    6-2-3 Tuition Assistance

    6-3-1 Funds, Receipt and Deposit

    6-5-1 Budget Transfers

    6-5-2 Federal Funds, Expenditure & Control Of

    6-6-1 Budget Administrator Responsibility

    6-6-2 Invoice Payment Process

    6-7-1 Funds, Investment of Surplus

    6-8-0 Refunds Policy

    6-8-1 Refunds

    6-9-1 Authorized Signatures/Bank Withdrawals

    6-12-1 Capital Plant Fund

    6-13-0 Educational Fee Waiver Policy

    6-13-1 Educational Fee Waiver

    6-14-0 Student Fees Policy

    6-14-1 Checks - Information Required, Returned Checks and Credit Card Chargebacks

    6-15-0 Expenditure of Auxiliary Income

    6-15-1 Expenditure of Auxiliary Income Procedure

    6-16-1 Internal Auditing Department

    6-18-1 Red Flags Rule Identity Theft Prevention Plan

  7. Facilities Management
  8. Human Resources and Employee Relations
  9. Development
  10. Procurement and Inventory Control
  11. Auxiliary Enterprises and Printing Services
  12. Public Safety
  13. Division of Education
  14. Intentionally Left Blank for Future Use
  15. Intentionally Left Blank for Future Use
  16. Admissions and Registrar
  17. Student Services

NUMBER: 6-6-2 APPROVED DATE: 01-30-2006


PURPOSE:  To define TTC's invoice payment process.

    1. The Finance department should process payments within the terms of the authorizing documents and should take advantage of allowable discounts when economically advantageous.  All vendor invoices must be sent directly to the Accounts Payable function in the Finance department.
    2. Vendors should be instructed to reference the purchase order number on the invoice and to send invoices directly to Accounts Payable.  
    3. A Check Request (TTC Form T3-50) is used to authorize payment for items that are not required to be purchased through Procurement, such as registrations or grant-related stipends.  Check Request approvals should be consistent with the Colleague Finance requisition approval authority.
    4. Accounts Payable initiates the payment process after verification of supporting documents such as:
      • Purchase Order
      • Vendor’s invoice
      • Notice of receiving (i.e., acceptance of goods or services)
      • Contract
      • Check Request (TTC Form T3-50)
    5. Accounts Payable notifies the requestor within two days after the invoice is received if supporting documentation is missing.  If the requestor does not take action within the next five working days, a follow-up email is sent to the requestor’s supervisor.  If the supervisor takes no action within five working days, a notice will be forwarded up the line of supervision and to the Director of Procurement every five working days.  
    6. Accounts Payable is responsible for payment within 30 workdays after the acceptance of goods or services and proper invoice, whichever is later.  Accounts Payable will add late payment charges on the voucher beginning on the 31st work day after the date goods or services are received or the date the invoice is received, whichever is later. The vendor must specify either on their statement or on the invoice that a late penalty is applicable. The maximum interest expense/late payment amount allowed is established by the Comptroller General's Office. For 10- and 51- ledger departments Accounts Payable will charge the department account on the purchase order or check request and use object code 54360. For grant accounts (2# ledger), Accounts Payable will charge the late fee to 10-6581000-54360-0 General Institutional expense.
    1. Make procurements in accordance with TTC Procedure 10-2-1, “Purchasing Authority.”
    2. Ensures the material has been received or the service has been performed in accordance with the terms of the contract.  Notifies the Receiving department within two days if goods are not acceptable.
    3. Records the order as “accepted” or received in the system for items they pick up, items that are delivered directly to them, and items that the Receiving department delivers where there is no purchase order number on the receiving delivery ticket.    
    4. Ensures that duplicate payment requests are not submitted.
    1. Records the order as “accepted” or received in the system if the purchase order number is provided on the packaging.  Delivers items to the requestor.
    2. Enter adjustments to quantities received under advisement from the requestor or procurement.
    1. Enters invoices into the system and follows up on invoices with items that have not been received.
    2. Pays per the invoice when the invoice amount is less than the amount of the purchase order.
    3. Notifies the appropriate buyer in the Procurement department when the invoice unit price exceeds the purchase order unit price in accordance with established operating procedures.
    4. Returns invoice to the vendor if a purchase order number is not referenced and the originator cannot be determined.
    5. Notifies the Requestor via e-mail if an invoice cannot be entered into the system due to a missing, incomplete or unapproved purchase order.

Reviewed: 04-14-2008

Updated: 05-09-2013

Reviewed: 04-27-2018