Accounts Payable Policies & Procedures

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Accounts PayablePolicies Procedures

• Presented by
• Jessica M. ODonnell
• Jim Nielsen

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Accounts Payable
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Cash Purchase Orders(CPOs)

• For exact dollar amount only
• Not to exceed 300.00
• Attach original receipt
• Payee must be a business name, not an individual

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Costco

• Card available in Business Office
• Accepts DPOs CPOs

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Invoices / Statements

• All invoices statements need to be sent to
  Business Office.
• Copies of invoices will be routed to responsible
  department.
• Return copy of invoice with a BPA.

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Timing

• Invoices received in department should be
  processed within 2 weeks of receipt of the
  invoice.
• 2 week maximum turn-around time in Business
  Office.
• Vendor should receive payment within 45 days of
  issuing invoice.

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Banner Payment AuthorizationBPAs
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Independent Contractor v. Employee

• All BPAs reviewed for pay type.
• Behavioral Control
• Right to direct
• Control of work
• Financial Control
• Significant Investment
• Expenses
• Opportunity for profit or loss

• Relationship
• Employee benefits
• Written contract

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BPAs (Cont.)

• Paying individuals for services
• Make sure W9 is attached
• Attach original invoice
• Can NOT pay off of packing slip,
  acknowledgements, or statements

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Signatures

• Fund controllers need to be updated at Financial
  Services
• Fund controllers signature can NOT be signed by
  other persons
• If more than one signature is required, check
  that all signatures are on BPA before sending to
  Business Office.

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Paying through Foundation

• If you receive a copy of an invoice from the
  Business Office please inform us Foundation is
  paying and we will send the invoice to the
  Foundation.

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Hospitality Form

• If a department plans to pay for food or light
  refreshments and the cost will exceed 30.00, a
  Hospitality Form must be completed and approved
  prior to the time the expense is incurred.
• State funds CANNOT be used to purchase alcoholic
  beverages.

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Fiscal Year End

• Deadlines
• Expenditures paid in year incurred
• Accruals

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Questions

• Questions or problems
• www.msubillings.edu/boffice/
• or
• call Jim 2301