ARCHIVED Bulletin: Easy New Way to Release Invoices Held for Department Approval (Posted April 9, 2009)
Background: Once a purchase order is approved and goods or services are delivered, suppliers should send invoices directly to Accounts Payable. Invoices greater than $2,500 require department review to certify receipt of the goods or services and are therefore "held" until verification is received.
Effective April 10, 2009, the process for releasing holds on invoices has been improved. Here's how the new process works:
- Accounts Payable (AP) receives invoice directly from the supplier
- If invoice is less than $2,500, AP schedules payment per the terms of the purchase order
- If the invoice is greater than $2,500, AP "holds" the invoice pending department approval
- Purchase order originator receives an email notification with subject "Electronic Release of Department Approval Hold"
- If originator can certify receipt of goods / services, he/she clicks the link in the email to view invoice details and releases the hold by clicking the "Approve Release of Hold" button
- If originator does not have the authority to release the hold, he/she forwards the email to the appropriate approver to review and approve
- If there are no additional holds on the invoice, AP will schedule payment per the terms of the purchase order
Note – Accounts Payable scans all invoices received from suppliers. You can view the invoice image using the Requisition and Purchase Orders Query tool. To access the query tool, launch Oracle and open the SU Inquiry Tools folder. For instructions, see How To: View Requisitions, Purchase Orders or Invoices.
Although not recommended, some invoices may be sent directly to schools or departments and must then be forwarded to Accounts Payable. In these cases, be sure to use the Invoice Fax Cover Sheet. Follow How To: Mail an Invoice to Accounts Payable.
The Electronic Release of Department Approval Hold and Invoice Fax Cover Sheet are two of the enhancements being implemented by Accounts Payable and Purchasing and Contracts. Stay tuned for more as we work to improve the buying and paying process at Stanford.