Regular Purchase Orders
Regular Purchase Orders are for items over $2,000 and are issued by the Purchasing Department following established policies and procedures. A purchase requisition is required to originate the regular purchase order. Vendor contact is made by the Purchasing Department and the vendor's invoice must comply with the terms and requirements specified on the Purchase Order. The procedure for processing an invoice relating to a Regular Purchase Order is as follows:
Vendor: The vendor must send the original invoice to the Accounts Payable Department per the printed instructions on the Purchase Order.
Ordering Department - $5000.01 and over: When the goods or service is received, the authorized individual must go into TUmarketplace Settlement to enter receiver. Once receiver is entered, receiver will feed into Banner and match up against the invoice to release payment to the vendor. Note: Items under $5,000 do not require a receiving report for payment.
In some cases, vendors erroneously mail their invoices to the department ordering the goods. When this occurs, it is essential that the department forwards the invoice to Accounts Payable immediately.
Accounts Payable: Upon receipt from the vendor, Accounts Payable will process the invoice. The A/P System performs a match between the purchase order, invoice, and receiving report (if required). When this match is successful, payment will automatically be made to the vendor on the due date. If any of the required documents are incorrect or missing, the match will not take place and the vendor will not be paid. Therefore, timely receipt of a receiving report from the ordering department is essential for payment. Accounts Payable will initiate the proper action in the event that the match is not successful, so that the vendor can be paid in a timely manner.