UNIVERSITY OF OTTAWA Financial Resources. UO - SMARTStream System Theory - Purchasing and Accounts Payable
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1 UNIVERSITY OF OTTAWA Financial Resources UO - SMARTStream System Theory - Purchasing and Accounts Payable version May 1999
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3 Theory Purchasing and Accounts Payable Table of Contents 1. Foreword Introduction Definitions Administrative Processes for the Acquisition and the Payment of Goods and Services Introduction Basic Principles Role Players Local Invoice Entry with no Purchase Order Planning the purchase Ordering Receiving the goods or services & approving the paper invoice Entering the invoice in SMARTStream Payables Approving the invoice electronically Central Invoice Entry with a Purchase Order Planning the purchase Creating and approving a requisition in SMARTStream Purchasing Verifying and attaching the requisition Ordering Receiving the goods or services & approving the paper invoice Forwarding all supporting documents to Financial Services Receiving in SMARTStream Purchasing and entering the invoice in SMARTStream Payables Central Invoice Entry with a Purchase Order for Encumbrance Only Planning the purchase Creating and approving a requisition in SMARTStream Purchasing Verifying and attaching the requisition Receiving the goods or services & approving the paper invoice Forwarding all supporting documents to Financial Services Receiving in SMARTStream Purchasing and entering the invoice in SMARTStream Payables I Local Invoice Entry and Central Approval Planning the purchase
4 4.5.2 Ordering Receiving the goods or services & approving the paper invoice Entering the invoice in SMARTStream Payables Approving the invoice electronically (local approval) Forwarding all supporting documents to Financial Services and approving the invoice electronically (central approval) Central Invoice Entry with no Purchase Order Entering the invoice in SMARTStream Payables Requests for Bank Drafts with Central Invoice Entry Planning the purchase Ordering the goods or services Receiving the goods or services and approving the paper invoice Forwarding all supporting documents and entering the invoice in SMARTStream Payables (Financial Services) Vendors Vendor Identifier Trade vendors Individual vendors Vendor Location Vendor Payables Information Vendor Purchasing Information SMARTStream Basic Concepts and Policies Enterprise Payables Concepts Diagram Purchasing Concepts Diagram Currency Currency Defaults Currency Conversion Rates Payments Payment Controls Payable Entity Payment Methods Payment Terms II Purchasing Introduction Integration of the Purchasing Module With Other SMARTStream Products
5 6.5.3 Defining Sites Calendar Purchasing Reference Information Requisition Entities Requesters Ship-to, Deliver-to and Ship-via Codes FOB Terms and Freight Terms Commodities and Purchase Commodities Buyers Cataloged Vendor Items and Uncataloged Vendor Item Description Only Item Standard Phrases Purchase Entities Payables Introduction Integration of the Accounts Payable Module with other SMARTStream Products Defining Payable Entities Taxes Tax Rate Code Tax Reclaimable Code Tax Rules Tax Defaults SMARTStream features For Purchasing Requisition Defaults Requisition Line Exceptions Requisition Approval Process Requisition Statuses Purchase Order Purchase Order Defaults/Overrides Purchase Order Statuses For Payables Invoices Defaults/Overrides System Payments On-Demand Payments Statuses III - 8. Documents: verification, printing, distribution and safekeeping Purchase Orders Blanket Orders
6 8.3 Cheques Bank Drafts Invoices and Supporting Documentation General safekeeping guidelines Lost Invoices Appendix A. Commonly Used Keywords B. Requisition Entities C. Ship-to Code D. Ship-via Code E. Commodity Code F. Standard Phrases 1. Foreword - IV - This manual was produced in the context of the Millénium Project by members of the Project Management Foreword 1-1
7 Team - most of the material was written as a team effort by Chantal Lanthier and Yves Jobin with some assistance from Francine La France, Liliane Kanaan, and Jean-Marc Dubé. Please note that the masculine is used for certain adjectives and pronouns. While this convention was adopted to keep the style light, it should be interpreted to infer both genders. Parts of the manual were taken directly from the Reference Manual: Theory for the Acquisition of Goods and Services and Payment of Invoices originally published during the Administrative Simplification project in Here and there throughout the text, we ve inserted this symbol to draw your attention to a particular statement; for example, it is used to underline a new convention or a way of things that has been changed. An up to date electronic version of this manual will be maintained on our web site in WordPerfect 6/7/8 format. You may download a copy by pointing your browser to: We would appreciate your feedback on the documentation that we ve prepared; please your comments and questions to this address: sfst@uottawa.ca Foreword 1-2
8 Introduction 1-3
9 2. Introduction This manual addresses a variety of topics. These range from defining the s administrative processes for the acquisition and payment of goods and services, to more system specific chapters that address UO - SMARTStream policies, concepts and features for Purchasing and Accounts Payable. You will also find the definitions of new terminology specific to SMARTStream or to the underlying administrative processes. Please note that throughout this document, wherever a word or a series of words is written in bold italics (e.g. Invoice), these refer to windows (activities) in the SMARTStream Purchasing or Payables modules. The material that is presented in these chapters is based on version 6.0 of Geac s SMARTStream system. For reference purposes, the number associated with this documentation is version May This document is one of a suite of manuals written to support our users. Figure 2.1 positions it within the series of manuals that were written for financial administrators at the University. Fig. 2.1 For your information, a complete set of the tables of contents of the other reference guides is available in Appendix C of the General Concepts manual. The General Concepts and Theory : Budget, General Ledger, and Funds Control modules are considered as pre-requisites to all other activities. In addition to these, we expect that all users of the Accounts Payable and Purchasing modules will master the material that is presented here and in the three accompanying User s Guides (Purchasing, Accounts Payable, and General Ledger and Funds Control); you are also expected to attend the corresponding courses. Depending on your professional duties, you may also be required to familiarize yourself with the other User s Guide (Budget), and follow the course that is associated with it. Introduction 2-1
10 Introduction 2-2
11 3. Definitions Buyer: Buyer Workgroup: Cataloged Vendor Item: A SMARTStream buyer is responsible for purchasing the items indicated on a requisition line. When requisitions are approved, SMARTStream Purchasing notifies the buyer specified on each requisition line. It can also refer to purchasing officers of Materials Management Services. A group of buyers responsible for purchasing items for all requesters assigned to a requisition entity. When requisitions are approved, SMARTStream Purchasing notifies the buyer workgroup assigned to each requisition line. Vendor Items defined in the SMARTStream vendor item database. Description Only Item: Documents without an invoice number: Description Only Items are items to which no identifier is attached whereas Vendor Items are those to which identifiers are attached. Using description only items always results in a requisition line exception. For documents that do not bear an invoice number (e.g. Bell Canada invoices), the payer should create such a number by adding to the client number (phone number in the case of Bell Canada) a suffix representing the year and the month in order to make the number unique - a unique number is required in the system. For example this will yield a number such as If no client number applies, then the order number should be repeated in the invoice number field - e.g Finance buyer: Garnishee: Item: Log Book: Manager: Refers to the financial officers at Financial Services. Finance buyers are responsible for encumbering all requisition line amounts related to invoices that follow the Central Invoice Entry with a Purchase Order for Encumbrance Only process. (refer to section 4.4 of this manual) From time to time, Revenue Canada will issue a garnishee against a vendor. A garnishee consists of collecting monies owed to a vendor and paying this amount directly to Revenue Canada instead of the vendor. An item designates a good or a service. It can also designate a description only item or a vendor item. An internal book where all transactions are recorded for a particular requisition entity along with the specific details for each transaction. The log book controls the unit s order numbers and contains useful information for management purposes such as the date of purchase, requester, supplier, brief description of the goods or services ordered, amounts, date of reception, date of payment, etc. The person accountable for the unit s budget. Definitions 3-1
12 Order Number: A unique 10 character identifier assigned to each purchasing transaction not originating from a SMARTStream purchase order. This identifier corresponds to the requisition number. The first 3 characters refer to the unit element of the accounting key (administrative unit), the fourth character indicates the transaction currency (1 for Canadian Currency, 2 for a US currency), the next 2 characters usually identify the person who initiates the transaction and the last 4 represent a sequential number, required to make the entire number unique. The following is an example of an order number: Administrative Unit of the Canadian Currency Person s Initials Faculty of Education Sequential number GL 0001 Payable entity: Purchase entity: A logical unit with a common set of processing rules and defaults that control the payment and handling of payment requests sharing certain common properties. A set of processing options and defaults that control how purchase orders are generated and sent to vendors. Purchase Order Number: Purchasing Officers: A unique identifier assigned to each purchasing transaction requiring the issuance of a SMARTStream purchase order. The purchase order number contains 11 characters. The first 10 characters come from the requisition number while the eleventh character is always M. This distinguishes the transactions handled by Materials Management Services. Purchasing officers at Materials Management Services Regional buyer: Requisition Line Exception: Requisition Number: Members of faculties or services to whom the Director of Materials Management Services has delegated the authority to purchase goods and services for an amount not exceeding $20, These individuals are defined as Buyers in SMARTStream Purchasing and have been granted security to print purchase orders for their respective unit only. An approved requisition added with description only items results in a requisition line exceptions. These can only be reviewed by purchasing officers. A unique 10 character identifier of assigned to requisitions. Requisition numbers have the same numbering convention as the Order Number described above. Definitions 3-2
13 Restricted items: Goods and services that requires the issuance of a SMARTStream purchase order regardless of the dollar value of the order. Statement Type Invoices: Unit: Invoices grouped onto one single document by a vendor for services rendered to most units across campus. To simplify their billing process and to cut down on administrative costs, Courier service companies regularly invoice this way. Designates the administrative unit or department of a faculty or a service. Vendor Item: Sourcing: Uncataloged Vendor Item: Items that have been sourced by Materials Management Services. These items have an identifier, a description, a price, and a unit of mesure. The process of source selection which includes the negotiation of all terms affecting the product, pricing, warranty, carrier selection, payment terms, service, etc. Vendor Items that do not exist in the SMARTStream vendor item database. Voucher Number: Vendor Identifier: A unique 10 character identifier of assigned to each transaction following the Local Invoice Entry with no Purchase Order process. (refer to section 4.2 of this manual). Voucher numbers correspond to the Order Number and must be entered in the voucher number field of the Invoice activity. One of the alphanumeric user-defined key fields used to identify and search for a particular vendor. The other key field is the Location. Definitions 3-3
14 Definitions 3-4
15 4. Administrative Processes for the Acquisition and the Payment of Goods and Services 4.1 Introduction This chapter describes the redesigned processes for the acquisition and payment of goods and services following the Administrative Simplification project that was undertaken at the University in It has been slightly modified from its original version to include all necessary references to the UO - SMARTStream financial system installed in When the need to purchase goods or services arises, you must choose and follow the appropriate process. In this chapter, you will find a detailed description of the six administrative processes that exist at the University of Ottawa. Their descriptions should be read in conjunction with the following flow diagram in order to determine which one applies to your specific situation. The same numbering scheme is used in the descriptions and in the diagram. Administrative Processes for the Acquisition and the Payment of Goods and Services 4-1
16 4.1.1 Basic Principles The principle of two signatures for each financial transaction should be respected at all times. Two distinct, knowledgeable, and responsible individuals must participate in every financial transaction. Both of these individuals must understand the business principles that apply and be familiar with the technical aspects of the process. Only original invoices must be used to initiate a payment; account statements must never be used as reference for a payment. Rather, they should be forwarded to Financial Services for follow up. Invoices must be entered in UO - SMARTStream as promptly as possible in order to benefit from any applicable discounts and to post the expense to Funds Control and to the General Ledger. The approval process engaged upon by the approver is the last step taken before finalizing the payment request; no other verification or control will be done by central services before the cheque is actually produced. Under no circumstances should someone divulge their password to someone else. The use of an unauthorized userid is a reprehensible act of fraud and subject to disciplinary action Role Players Every person involved in an administrative process assumes one of the roles listed below. Even though it is possible for a single person to assume more than one of these roles, it is not possible for one person to be both payer and approver for a particular transaction. Always consider that two distinct, knowledgeable, and responsible individuals must intervene in every single financial transaction. Managers (Deans, directors, researchers, or their delegates) Buyers/Requesters (Faculties and Services) Purchasing Officers (System Buyer) (Materials Management) Payers (Faculties and Services, Financial Officers) Approvers (Faculties and Services, Financial Officers) Financial Services Materials Management Service Suppliers Administrative Processes for the Acquisition and the Payment of Goods and Services 4-2
17 4.2 Local Invoice Entry with no Purchase Order This process applies to purchases of non-restricted goods and services for a value not exceeding $5,000 (before taxes) Planning the purchase Once a need for such a purchase has been identified, the buyer plans the acquisition of goods or services in compliance with policies and methods of the University and regulations of granting agencies (if applicable). He must make full inquiries in order to obtain the best combination of product, supplier, price, warranty, payment terms, and delivery options. The manager accountable for the project s budget must approve the purchase of the goods or services either in writing or verbally. He must verify that the required funds are available and that any University and/or granting agency rules that should apply in the purchasing process are in fact respected Ordering The buyer records the order number and all other pertinent information in the unit s log book. He conveys the order to the supplier by telephone, fax, letter, or , indicating the order number, article, quantity, price, delivery and payment terms, delivery address, invoicing address, Receiving the goods or services & approving the paper invoice Upon reception of the ordered goods or services the buyer or the manager examines them, initials the invoice or packing slip, (to indicate that the goods or services received correspond to the invoice/packing slip) and sends it along to the payer thereby indicating that the payment process should be initiated Entering the invoice in SMARTStream Payables After receiving the initialized original invoice or the invoice and initialized packing slip, the payer initiates the payment process in SMARTStream Payables. The packing slip and original invoice documents must be matched if they have been sent as separate documents. Aside from a short predetermined period of time at the end of the year, there is no need to create batches of invoices for processing. All invoices are entered and saved as independent transactions. There are three types of invoices: regular invoices, credit memos and debit memos, all of which can be added using the Invoice activity in SMARTStream Payables. In this activity, the payer enters the details of the transaction and saves the completed invoice. Administrative Processes for the Acquisition and the Payment of Goods and Services 4-3
18 When saving the invoice, SMARTStream Payables: Verifies the existence of the accounting key and displays an error message when the key does not exist in the Chart of Accounts window in SMARTStream Ledger; Verifies the availability of funds for the transaction and adjusts the corresponding Funds Control records. When there are insufficient funds for the transaction or if the accounting key used is valid but not included in Funds Control, a Funds Control Exception occurs and the payer receives an informational message to indicate that an error has occurred. The Funds Control records will not be updated. At this stage, further processing of the invoice document is blocked and an exception message is routed to Financial Services for remedial action. In cases where for administrative reasons, Financial Services cannot release an invoice with a Funds Control Exception, the payer is required to amend the invoice to remove the exception or delete the invoice altogether. Once these exceptions are resolved, saving the suspended document reassesses funds availability and enables the corrected documents to be further processed; Generates all of the appropriate entries to be posted to the General Ledger; Triggers the approval process by sending an electronic informational message to the approver s New To Do List and submitting the corresponding invoice to the approval process. The payer must also forward to the approver the (physical) invoice thereby indicating that it is ready to be approved in SMARTStream Payables Approving the invoice electronically The workflow component of SMARTStream Payables sends the completed invoice to the designated approver, or to a designated approval workgroup. Upon receiving the informational message in their New To Do List and the paper invoice, each approver must review, then approve or reject the invoice from either the Invoice Approval window or the Invoice Approval Status window. To approve each individual invoice, the approver must first verify the pertinence of the request for payment and compare it to the physical documents in hand. After the invoice is approved, its status changes to Complete. Payables can process it for payment. If the approver refuses to approve the invoice, it acquires a status of Rejected and is not eligible for payment; the approval process stops. SMARTStream Payables will send a message to the payer to Review Rejected Invoices. In order for a rejected invoice to be eligible for approval again, the payer can make a few modifications either by changing the existing accounting key(s) or the payment method, or by adding new accounting distribution lines to the invoice. The invoice once again becomes available for approval. If an invoice is posted to the General Ledger before the approver processes it, and the approver subsequently refuses to approve it for administrative reasons, the approver must ask the payer to cancel the invoice; when this is done, SMARTStream Payables generates reversing entries for all of the entries it created when posting the original document. Administrative Processes for the Acquisition and the Payment of Goods and Services 4-4
19 4.3 Central Invoice Entry with a Purchase Order This situation arises when the value of a purchase exceeds $5,000 (before taxes) or the goods or services being purchased are considered restricted Planning the purchase Once a need for such a purchase has been identified, the buyer in consultation with the requester, plans the acquisition of goods or services in compliance with policies and methods of the University and regulations of granting agencies (if applicable). He must make full inquiries in order to obtain the best combination of product, supplier, price, warranty, payment terms, and delivery options. The manager accountable for the project s budget must approve the purchase of the goods or services either in writing or verbally. He must verify that the required funds are available and that any University and/or granting agency rules that should apply in the purchasing process are in fact respected Creating and approving a requisition in SMARTStream Purchasing After the sourcing for the goods or service is done, the requester creates a requisition in SMARTStream Purchasing. From the log book, the requester selects the next available number for the requisition and enters all of the required information about the requested goods or services. The requester also ensures all other pertinent information is recorded in the log book for each transaction. Once the requisition is completed, the requester must forward and save the requisition in order to make it available for approval. Saving the requisition first triggers the validation of the accounting key and subsequently verifies that funds are available for this purchase. Should the accounting key be invalid or funds be insufficient, an error message will be displayed and the requester must take appropriate action. When saved, a SMARTStream Workflow will automatically route the requisition to the assigned approver by delivering the message Requisition Forwarded for Approval in the approver s New To Do List. From the New To Do List, the approver selects the task and approves or rejects the requisition. If the requisition is rejected, the requester receives the message Requisition Rejected in his New To Do List. In this case, no changes can be made to the existing requisition and a new requisition must be resubmitted, if desired Verifying and attaching the requisition Once approved, the requisitions are routed automatically to the Buyer Workgroup MMS of Materials Management Services. Also, approved requisitions with open requisition lines created with the Buyer Workgroup MMS appear on a daily report used to convert the requisitions into purchase orders. A designated purchasing officer, who is a member of this Buyer Workgroup, verifies the details of the requisitions with all of the supporting documents for the transaction. He converts the requisition into a purchase order, at the same time making any required adjustments. Once completed, the purchase order is saved in SMARTStream Purchasing. Administrative Processes for the Acquisition and the Payment of Goods and Services 4-5
20 4.3.4 Ordering Once a day, the purchasing officers will print and mail all purchase orders to the suppliers. In addition to being mailed, some purchase orders will occasionally be sent by fax as well Receiving the goods or services & approving the paper invoice Upon receipt of the goods or services, the requester or the manager of the requesting unit examines their condition if it s a good, and initials the invoice or the packing slip to indicate that the goods or services received correspond to the invoice/packing slip information Forwarding all supporting documents to Financial Services The signed invoice/packing slip is forwarded to Financial Services thereby indicating that the invoice matching process should be initiated Receiving in SMARTStream Purchasing and entering the invoice in SMARTStream Payables A designated financial officer at Financial Services initiates the payment process upon receiving the original invoice duly approved. The officer verifies the information on the invoice/packing slip against the Receiving activity making the purchase order lines available for payment. The officer then carries the corresponding purchase order line(s) into the Invoice window to complete the invoice entry process. Once a day, a SMARTStream process will match the invoices with the purchase orders and the corresponding receipt information. This is known as 3-Way Matching. Discrepancies from the matching process will result in a matching exception. These exceptions need to be resolved in order to allow a cheque to be printed. Matching exceptions messages are automatically routed to the purchasing officer s New To Do List; he reviews each case and takes appropriate actions. 4.4 Central Invoice Entry with a Purchase Order for Encumbrance Only This process is invoked when purchasing goods or services whose value exceeds $5,000, which are explicitly exempted from policy 36, and for which an encumbrance is required in order to reserve funds Planning the purchase When such a case arises, the buyer in consultation with the requester, plans the acquisition of goods or services in compliance with policies and methods of the University and regulations of granting agencies (if applicable). He must make full inquiries in order to obtain the best combination of product, supplier, price, warranty, payment terms, and delivery options. Administrative Processes for the Acquisition and the Payment of Goods and Services 4-6
21 The manager accountable for the project s budget must approve the purchase of the goods or services either in writing or verbally. He must verify that the required funds are available and that any University and/or granting agency rules that should apply in the purchasing process are in fact respected Creating and approving a requisition in SMARTStream Purchasing Once the sourcing for the goods or service is done, the requester creates a requisition in SMARTStream Purchasing. From the log book, the requester selects the next available number for the requisition and enters all of the required information about the requested goods or services. The requester also ensures all other pertinent information is recorded in the log book for each transaction. Once the requisition is completed, the requester must forward and save the requisition in order to make it available for approval. Saving the requisition first triggers the validation of the accounting key and subsequently verifies that funds are available for this purchase. Should the accounting key be invalid or funds be insufficient, an error message is displayed and the requester must take appropriate action. When the requisition is successfully saved, a SMARTStream Workflow will automatically route the requisition to the assigned approver by delivering the message Requisition Forwarded for Approval in the approver s New To Do List. From the New To Do List, the approver selects the task and approves or rejects the requisition. If the requisition is rejected, the requester receives the message Requisition Rejected in his New To Do List. In this case, no changes can be made to the existing requisition and a new requisition must be resubmitted, if desired. The original requester must cancel his rejected requisition in order to free the committed funds Verifying and attaching the requisition Approved requisitions with all open requisition lines created with the buyer FIN appear on a daily report used to convert the requisitions into purchase orders. A financial officer, verifies the details of the requisitions with all of the supporting documents for the transaction. The officer converts the requisition into a purchase order, at the same time making any required adjustments. Once completed, the purchase order is saved in SMARTStream Purchasing. This purchase order exists only as an electronic document and it is assumed that the actual order was placed using another mechanism Receiving the goods or services & approving the paper invoice Upon receipt of the delivered goods or services, the requester or the manager of the requesting unit examines their condition, and initials the invoice or the packing slip to indicate that the goods or services received correspond to the invoice/packing slip information Forwarding all supporting documents to Financial Services The signed invoice/packing slip is forwarded to Financial Services thereby indicating that the invoice matching process should be initiated Receiving in SMARTStream Purchasing and entering the invoice in SMARTStream Payables A designated financial officer at Financial Services initiates the payment process upon receiving the original Administrative Processes for the Acquisition and the Payment of Goods and Services 4-7
22 invoice duly approved. The financial officer verifies the information on the invoice/packing slip against the Receiving activity making the purchase order lines available for payment. The officer then carries the corresponding purchase order line(s) into the Invoice window to complete the invoice entry process. Once a day, a SMARTStream process will match the invoices with the purchase orders and the corresponding receipt information. This is known as 3-Way Matching. Discrepancies from the matching process will result in a matching exception. These exceptions need to be resolved in order to allow a cheque to be printed. Matching exceptions messages are automatically routed to the purchasing officer s New To Do List; he reviews each case and takes appropriate actions. 4.5 Local Invoice Entry and Central Approval This process is invoked when purchasing goods or services whose value exceeds $5,000, which are explicitly exempted from policy 36, and for which no encumbrance is required Planning the purchase Once such a need has been identified, the buyer plans the acquisition of goods or services in compliance with regulations and methods of the University and/or granting agencies. He must make full inquiries in order to obtain the best combination of product, supplier, price, warranty, payment terms, and delivery options. The manager accountable for the project s budget must approve the purchase of the goods or services either in writing or verbally. He must verify that the required funds are available and that any University and/or granting agency rules that should apply in the purchasing process are in fact respected Ordering The buyer records the order number and all other pertinent information in the unit s log book. He conveys the order to the supplier by telephone, fax, letter, or , indicating the order number, article, quantity, price, delivery and payment terms, delivery address, invoicing address, Receiving the goods or services & approving the paper invoice The buyer or the manager examines the delivered goods or services, initials the invoice or packing slip, (to indicate that the goods or services received correspond to the invoice/packing slip) and sends it along to the payer thereby indicating that the payment process should be initiated. Administrative Processes for the Acquisition and the Payment of Goods and Services 4-8
23 4.5.4 Entering the invoice in SMARTStream Payables Upon receiving the initialized original invoice or the invoice and initialized packing slip, the payer initiates the payment process in SMARTStream Payables. The packing slip and original invoice documents must be matched if they have been sent as separate documents. Aside from a short predetermined period of time at the end of the year, there is no need to create batches of invoices for processing. All invoices are entered and saved as independent transactions. There are three types of invoices: regular invoices, credit memos and debit memos, all of which can be added using the Invoice activity in SMARTStream Payables. In this activity, the payer enters the details of the transaction and saves the completed invoice. When saving the invoice, SMARTStream Payables: Verifies the existence of the accounting key and displays an error message when the key does not exist in the Chart of Accounts window in SMARTStream Ledger; Verifies the availability of funds for the transaction and adjusts the corresponding Funds Control records. When there are insufficient funds for the transaction or if the accounting key used is valid but not included in Funds Control, a Funds Control Exception occurs and the payer receives an informational message to indicate that an error has occurred. The Funds Control records will not be updated. At this stage, further processing of the invoice document is blocked and an exception message is routed to Financial Services for remedial action. In cases where for administrative reasons, Financial Services cannot release an invoice with a Funds Control Exception, the payer is required to amend the invoice to remove the exception or delete the invoice altogether. Once these exceptions are resolved, saving the suspended document reassesses funds availability and enables the corrected documents to be further processed; Generates all of the appropriate entries to be posted to the General Ledger; Triggers the approval process by sending an electronic informational message to the approver s New To Do List and submitting the corresponding invoice to the approval process. The payer must also forward to the approver the (physical) invoice thereby indicating that it is ready to be approved in SMARTStream Payables Approving the invoice electronically (local approval) The workflow component of SMARTStream Payables sends the completed invoice to the designated approver, or to a designated approval workgroup. Upon receiving the informational message in their New To Do List and the paper invoice, each approver must review, then approve or reject the invoice from either the Invoice Approval window or the Invoice Approval Status window. To approve each individual invoice, the approver must first verify the pertinence of the request for payment and compare it to the physical documents in hand. If the approver or one person in the approval workgroup refuses to approve the invoice, it acquires a status of Rejected and is not eligible for payment; the approval process stops. SMARTStream Payables will send a message to the payer to Review Rejected Invoices. In order for a rejected invoice to be eligible for approval again, the payer can make a few modifications either by changing the existing accounting key(s) or the payment method, or by adding new accounting distribution lines to the invoice. The invoice once again becomes available for approval. Administrative Processes for the Acquisition and the Payment of Goods and Services 4-9
24 If an invoice is posted to the General Ledger before the approver processes it, and the approver subsequently refuses to approve it for administrative reasons, the approver must ask the payer to cancel the invoice; when this is done, SMARTStream Payables generates reversing entries for all of the entries it created when posting the original document Forwarding all supporting documents to Financial Services and approving the invoice electronically (central approval) The signed invoice/packing slip is forwarded to Financial Services thereby indicating that it is now available for electronic approval. The workflow component of SMARTStream Payables sends the locally approved invoice to the designated approver at Financial Services. Upon receiving the informational message in their New To Do List and the paper invoice, the approver reviews, then approves or rejects the invoice from either the Invoice Approval window or the Invoice Approval Status window. To approve each individual invoice, the approver must first verify the pertinence of the request for payment and compare it to the physical documents in hand. After the invoice is approved, the status changes to Complete. Payables can process it for payment. If the approver refuses to approve the invoice, it acquires a status of Rejected and is not eligible for payment; the approval process stops. SMARTStream Payables sends message to the payer to Review Rejected Invoices. The local approver is also informed of the decision to reject the invoice he has approved. In order for a rejected invoice to be eligible for approval again, the payer can make a few modifications either by changing the existing accounting key(s) or the payment method, or by adding new accounting distribution lines to the invoice. The invoice once again becomes available for local approval and subsequently central approval. If an invoice is posted to the General Ledger before the approver processes it, and the approver subsequently refuses to approve it for administrative reasons, the approver must ask the payer to cancel the invoice; when this is done, SMARTStream Payables generates reversing entries for all of the entries it created when posting the original document. 4.6 Central Invoice Entry with no Purchase Order The following process applies to documents which are considered to be either Statement Type Invoices or Special Payroll Requests. The latter is a specific paper document submitted by the Human Resources Service when a special payroll cheque must be issued to an individual outside of the regular pay cycle. Statement Type Invoices are received by Financial Services from vendors that offer a service to most units across campus but choose to issue a single invoice for all services rendered. This often results in multiple small charges to various units on one invoice. To expedite the payment process, those invoices are entered by Financial Services. An example are the invoices received from most courier service companies. Administrative Processes for the Acquisition and the Payment of Goods and Services 4-10
25 4.6.1 Entering the invoice in SMARTStream Payables Upon receiving the Statement Type Invoice and all supporting documents from the vendor, the payer (financial officer) initiates the payment process in SMARTStream Payables. The financial officer will match the supporting documents against the invoice. The invoices are entered using the Invoice activity in SMARTStream Payables. In this activity, the payer enters the details of the transaction and saves the completed invoice. When saving the invoice, SMARTStream Payables: Verifies the existence of the accounting key and displays an error message when the key does not exist in the Chart of Accounts window in SMARTStream Ledger; Verifies the availability of funds for the transaction and adjusts the corresponding Funds Control records. When there are insufficient funds for the transaction or if the accounting key used is valid but not included in Funds Control, a Funds Control Exception occurs and the payer receives an informational message to indicate that an error has occurred. The Funds Control records will not be updated. At this stage, further processing of the invoice document is blocked and an exception message is routed to Financial Services for remedial action. In cases where for administrative reasons, Financial Services cannot release an invoice with a Funds Control Exception, the payer is required to amend the invoice to remove the exception or delete the invoice altogether. Once these exceptions are resolved, saving the suspended document reassesses funds availability and enables the corrected documents to be further processed; Generates all of the appropriate entries to be posted to the General Ledger; Triggers the approval process by sending an electronic informational message to the approver s New To Do List and submitting the corresponding invoice to the approval process. The payer must also forward to the approver the (physical) invoice thereby indicating that it is ready to be approved in SMARTStream Payables. 4.7 Requests for Bank Drafts with Central Invoice Entry This process is applied when a bank draft or a fund transfer is requested by a foreign supplier as payment for goods or services. This is usually the case when dealing with a supplier in a foreign country other than the United States. Regardless of the type of payment being issued, all purchases are subject to policy 36 which includes all foreign purchases of goods and services Planning the purchase Once a need has been identified, the buyer plans the acquisition of goods or services in compliance with policies and methods of the University and regulations of granting agencies (if applicable). He must make full inquiries in order to obtain the best combination of product, supplier, price, warranty, payment terms, and delivery options. The manager accountable for the project s budget must approve the purchase of the goods or services either in writing or verbally. He must verify that the required funds are available and that any University and/or Administrative Processes for the Acquisition and the Payment of Goods and Services 4-11
26 granting agency rules that should apply in the purchasing process are in fact respected. The individual should obtain the appropriate exchange rate from Financial Services and convert the invoice amount into Canadian dollars before verifying the availability of funds Ordering the goods or services The buyer records the order number and all other pertinent information in the unit s log book. He conveys the order to the supplier by telephone, fax, letter, or , indicating the order number, article, quantity, price, delivery and payment terms, delivery address, invoicing address, Receiving the goods or services and approving the paper invoice The buyer or the manager examines the delivered goods or services, initials the invoice or packing slip to indicate that the goods or services received correspond to the invoice/packing slip. If any of the essential information fields are not present on the invoice (i.e. supplier s name, price, payment terms, accounting keys, and corresponding amounts), then a payment request form should be completed and attached to the original invoice Forwarding all supporting documents and entering the invoice in SMARTStream Payables (Financial Services) The signed invoice/packing slip is forwarded to Financial Services thereby indicating that the payment process should be initiated. Once a week, normally on Friday mornings, Financial Services initiates the payment process for all duly received original invoices and corresponding payment request forms (where applicable). The information is first entered in a stand alone system that produces the bank drafts or fund transfers as requested. Then the designated financial officer re-enters the invoice data in SMARTStream Payables; this generates the corresponding transactions that are subsequently posted to SMARTStream Ledger. Administrative Processes for the Acquisition and the Payment of Goods and Services 4-12
27 5. Vendors Vendors are used by both the Purchasing and the Payables modules of UO - SMARTStream. Purchasing uses vendor and vendor item information to process requisitions and purchase orders. Payables uses vendor payment information and defaults to process payments. Certain elements of data can be specified as defaults at the enterprise level, at the purchase entity and payable entity level, and at the vendor level; when any of these defaults are specified at more than one level, then entity defaults override enterprise levels, and vendor defaults override entity defaults. For example, when you enter a vendor identifier on a requisition, on a purchase order or on an invoice, the defaults selected for the vendor become the defaults for the requisition, purchase order, or invoice. Generally, most defaults can be overridden at the document level. The has identified three types of vendors: trade vendors, individual vendors and onetime vendors. Although, all of these vendors are kept in the same database, only trade vendors are involved in Purchasing activities, the two other types are only involved in Payables activities. Trade vendors are the commercial partners with whom the University conducts business. They are commonly called suppliers and are used in both SMARTStream Purchasing and Payables. For all of the vendors with whom the University does business on a regular basis, Materials Management Services signs a business relation agreement; this is a formal process where conditions for conducting business are stated formally. Individual vendors are employees of the University that may need to be reimbursed for travel expenses, to be personally paid a professional honorarium, or for whom a special payroll request was issued or other individuals. One-time vendors are students that may require a reimbursement of fees due to changes in their study program. This information is transferred directly from the Student Information System (SIS). They are called one-time vendors because historical summary information will not be maintained for these individuals in UO - SMARTStream. The process of creating and maintaining vendor information in UO - SMARTStream remains the responsibility of Financial Services in order to streamline operations and to avoid the duplication of vendor records in the vendor database. Certain elements of data related to purchasing activities are maintained by Materials Management Services. 5.1 Vendor Identifier The Vendor Identifier is one of two key fields used in UO - SMARTStream to search for a particular vendor. It is a mandatory field which can include up to 10 upper case, alphanumeric characters. Only one Vendor Identifier is created per vendor operating name. The second key field is the Location. If all transactions with a specific vendor are directed to a single address, then the Location field is left blank. On the other hand, if a vendor has multiple addresses, the Location field is used to identify them. We have adopted a clear naming convention for Location fields: the main address is identified by the Vendor Identifier coupled with a blank Location field; all other addresses are identified by a three character numeric value in the Location field (i.e. 001, 002, 003, etc). The combination of the Vendor Identifier with the Location makes each vendor record unique. The following example illustrates the use of this naming convention. Vendors 5-1
28 Operating Name Banque nationale du Canada Mailing Address Vendor Identifier Location 242, rue Rideau, Ottawa, ON (main address used by U of O) BNC Blank 1701, rue Bank, Ottawa, ON (used only occasionally) 282, rue Elgin, Ottawa, ON (used only occasionally) BNC 001 BNC 002 To facilitate the search for a vendor in UO - SMARTStream, each of the three types of vendor has been subjected to its own naming convention as explained below. The following rules are meant as guidelines, to make the search for a specific vendor easier for all UO - SMARTStream users Trade vendors Identifiers for trade vendors include: the first seven letters of the vendor name(s) - the three remaining spaces should be used only if they make the identifier more meaningful, e.g. Operating Name Vendor Identifier Aberback Lapointe & Associés Surgenor Pontiac Buick (1975) Limitée ABERBAC (7 letters) SURGENOR (8 letters) less than seven letters if this is sufficient to recognize the vendor, e.g. Operating Name Vendor Identifier Algoma District Medical Group ALGOMA Vendors 5-2
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