Chapter 2. Accounting Services
Section 2.7. Accounts Payable

2.7.1. Payment of Invoices

Upon receipt of an invoice by Accounts Payable, it is matched to the purchase order and the receiver (salmon copy of the purchase order). If there are no discrepancies, the invoice is set up for payment within any terms indicated on the invoice or within 30 days if there are no terms indicated. The University takes advantage of discounts when possible to realize cost savings. If payment terms have been agreed upon by the vendor and department for major equipment purchases (such as computer systems), it is up to the department to inform Accounts Payable of such circumstances.

Accounts Payable will automatically pay purchase orders that are less than $1,000. The department does not receive a salmon copy for purchase orders that are less than $1,000.

Price and/or quantity discrepancies are generally approved by the Purchasing department buyer prior to payment.