Accounts Payable Procedures
To comply with generally accepted accounting principles, the College pays for goods and services only after acceptance by an authorized representative of the College and a proper invoice or claim has been rendered by the seller. One of the following procedures are required for payment of an invoice.
1. Purchase Orders:
a. Paid Net 30 - 30 day from invoice date.
b. Invoices attached to a purchase order are paid without department approval when:
i. Invoice is within 10% of the original purchase order AND
ii. Proper receiving documents are presented to the Accounts Payable Office.
c. All other invoices attached to purchase orders are paid when presented to the Accounts Payable Office with proper budget manager or authorized signer approval.
d. Checks are not issued against statements.
2. Invoices from Vendors:
a. Paid 30 day from invoice date unless due date is specified on invoice.
b. Invoices sent directly from vendors without purchase orders are paid when presented to the Accounts Payable Office with budget manager or authorized signer approval and department/expense account information is written directly on the invoice. Invoices received with a check request are paid 30 days from the invoice date.
c. Checks are not issued against statements.
3. Other Payments (non-invoice payments):
a. Properly prepared and approved check request forms received by noon on Friday are paid within 10 business days.
b. Expenses requiring payment without an invoice require a completed check request form and appropriate documentation.
4. Employee Expense Reimbursement Forms:
a. Received by noon on Friday are paid by the following Friday.
b. Must have proper approval and receipts attached.
1. All checks are mailed with appropriate documentation within 48 hours of processing date.
2. Approval from the Controller is needed when a situation requires special handling of a check.
Issued By: Business Office Services Director Approved By: Vice President for Finance Effective Date: July 1985 Revised: February 1993; March 1997; March 1999; September 2003, April 2007
The College of St. Scholastica
1200 Kenwood Avenue
Duluth, MN 55811