Accounts Payable Procedures

INVOICE MAIL ROUTE

Mail is delivered twice daily to the Research Foundation.  Invoices are directed to Purchasing.  Purchasing reviews invoices to verify that invoices $5000.00 or over contain a purchase order number (K#) or a sub contact number (S#).  Invoices $5000.00 or over without a purchase order number are held by Purchasing.  Purchasing contacts the Principal Investigator to submit an order requisition. Invoices from TAMUS are exceptions to the $5000.00 rule.

Invoices that pass Purchasing's review are stamped with the Purchasing stamp and delivered to Accounts Payable by 4:00 pm.  Invoices are distributed to Accounts Payable based on the AP Vendor Distribution List.  

Accounts Payable reviews the mail for priorities and sorts the invoices for copying and classing. AP circles the customer PO number on the invoice and writes the Project Administrator’s name on the invoice.

INVOICE PROCESSING

Accounts Payable sorts incoming mail for priority items.  Priorities are processed as quickly as possible. Verbal approvals are obtained from the Principal Investigator when necessary and are followed by a request for written approval.

The following are examples of invoices processed as priorities:

• Gasoline credit card statements
• Reimbursement to individuals
• Service invoices from individuals
• Subcontract invoices
• Telephone and utility invoices
• Tuition

Invoices are sent to the Project Administrators for budget expense code assignment.  Copies of invoices are stamped with the certification stamp and sent to Principal Investigators for approval to pay.