These represent allowances or credits for merchandise returns, price adjustments, damages, overpayments, rebates, etc. given to the University by a vendor
It is the Department's responsibility to make sure that any credits due are received by the University.
Upon receipt of a credit memo:
- Verify its correctness.
- Note the reason for the credit if it is not clear on the credit memo itself
- Indicate the FOAPAL where the credit should be applied.
- Forward all credits to Accounts Payable immediately so that the credit can be applied to your FOAPAL and deducted from the next payment to the vendor. DO NOT HOLD CREDITS IN THE DEPARTMENT FOR ANY REASON.
- Accounts Payable will apply the credit against any open invoices in the system.
Check Run Schedule Direct Deposits (ACH) are done daily and Disbursements (Paper Check Runs) are done on Monday, Wednesday and Friday each week.
TEMPLE ADMINSTRATIVE SERVICE BUILDING
Temple University (083-07)
Accounts Payable Department
1852 N. 10th Street
Philadelphia, PA 19122-8307
Phone: (215) 926-2049
Fax: (215) 926-2022