VENDOR PAYMENTS AND CREDITS INTRO

Transcription

3 VE ENDOR PAYMENT P TS PROCESS Vendor payments at Michigan State University (MSU) are processed in this way: A requisition is created and forwarded to Purchasing, where a purchase order is issued. The invoice is received by Accounts Payable; it is then entered into the Finance System. Upon entry, General Ledger entries arecreated and the department is charged. General Ledger entries for scheduled payments are created when the check is issued. ebsp.msu.edu 3

4 ENTS PR ROCESS (C CONTD.) ) VENDO OR PAYM Payment requests and credit memos that pass the audit process are set up for payment. Paymentrequests arerouted routed forfiscalofficerapproval; approval; creditmemosarerouted routed for Fiscal Officer FYI, or invoices are auto approved. (Note: Auto approval is similar to the negative approval process used today and is covered in the Vendor Payments and Credits Advanced course.) If issues arise between the time the department is charged and the invoice is approved, they will be handled by Accounts Payable on a case by case basis. ebsp.msu.edu 4

5 AND PR OCEDURES POLICIES P Invoices and credit memos will be sent to Accounts Payable for processing. The payment request is the method of capturing payment information against a purchase order. All users may look up values in the payment request. Only users with a specific role may create, approve, hold or cancel a payment request. ebsp.msu.edu 5

7 Kauli Finance System FLOW Main Menu VEND DOR PAY YMENTS SCREEN S Payment Requests Lookup Search Lookup Click the Link to the Document to View Payment Request ebsp.msu.edu 7

8 Main Menu Screen MENTS DOR PAYM VEND For vendor payments, click on the Payment Requests link. ebsp.msu.edu 8

9 Kuali Finance System Main Menu EDIT ME EMOS SC CREEN FL LOW CR Credit Memos Lookup Search Lookup Click the Link to the Document to View Credit Memo ebsp.msu.edu 9

10 Main Menu Screen EDIT MEMOS CRE For credit memo processing, click on the Vendor Credit Memos link. ebsp.msu.edu 10

11 Payment Requests and Credit Memos ONS OMPARISO CO The payment request and credit memo are very similar documents and route in a similar il fashion. The payment request document contains three extra tabs that are unique to the payment process. Those tabs include: 1. Special Handling 2. Wire Transfer 3. Payment Information ebsp.msu.edu 11

12 Payment Requests and Credit Memos ) (CONTD. COMPARISONS ( Credit memos route to the Fiscal Officer for an FYI acknowledgement, whereas the payment request routes for approval. ebsp.msu.edu 12

13 Vendor Tab PAYMEN NT REQU EST/CRE EDIT MEMO TAB BS (CONTD..) In the vendor tab, the vendor name, remit to address, customer number, payment terms, shipping title and shipping payment terms are all defaulted from the purchase order. Accounts Payable will add check stub notes and special handling instructions as needed. ebsp.msu.edu 13

14 Invoice Info Tab EST/CRE EDIT MEMO TAB BS (CONTD..) PAYMEN NT REQU Invoice Number: populated with data provided on the vendors invoice. Pay Date: Dt calculated l dbased on date dt received, then calculated l per purchase order payment terms. Immediate Pay Flag: checked by Accounts Payable when same day processing is required. Invoice date: the date on the vendor invoice. PO End Date: populated from the purchase order and identifies when a new purchase order is needed. (Note: not all purchase orders have an end date.) Payment tattachment t Indicator: checked dby Accounts Payable to indicate documents must be sent with payment. ebsp.msu.edu 14

15 Invoice Info Tab (contd) EST/CRE EDIT MEMO TAB BS (CONTD..) PAYMEN NT REQU Extract Date: the date the payment was processed and sent to the Pre Disbursement Processor. Purchase Order #: the purchase order number associated with the payment. PO Notes: will be indicated if notes are added to the purchase order. Payment Request Cost Source: specified on the purchase order. AP Processed Date: date and time payment was submitted by Accounts Payable. ebsp.msu.edu 15

16 Process Items Tab EST/CRE EDIT MEMO TAB BS (CONTD..) PAYMEN NT REQU The Process Items tab indicates the lines of the purchase order that this invoice relates to and the dollar amounts to be paid on the payment request. 1. Encumbrance, excluding freight and shipping & handling, will be calculated from the purchase order Total Encumbrance Amount Received and Total Paid Amount will be calculated based on payments processed to date. 4. Remaining encumbrance will be updated as payments are processed. ebsp.msu.edu 16

17 Processed Items Tab (contd) EST/CRE EDIT MEMO TAB BS (CONTD..) PAYMEN NT REQU Items displayed on the items sections will be those associated with this payment (not all the lines on the purchase order). Information in this section is only editable by Accounts Payable. The Fiscal Officer will have the ability to edit the account lines for which they are responsible. If additional charges have been applied, they will be displayed with a description. Note: Changing the accounting line on the payment request will not change the account on the purchase order. Due to tax reporting requirements, object codes should not be changed. ebsp.msu.edu 17

18 Special Handling Charge Tab PAYMEN NT REQU EST/CRE EDIT MEMO TAB BS (CONTD..) If a payment requires special handling, a processing fee is applied. The Fiscal Officer will have the ability to edit the accounting lines (on accounts for which they are responsible) that have been charged a special handling fee. (In this image, a fee of $15.00 is displayed in the amount field.) Note: Due to tax reporting requirements, object codes should not be changed. ebsp.msu.edu 18

19 Wire Transfer Tab PAYMEN NT REQU EST/CRE EDIT MEMO TAB BS (CONTD..) If wire transfer is the payment method used to disburse funds, information will be completed in this tab by Accounts Payable. Departments will be charged a processing fee for wire transfers. The Fiscal Officer will have the ability to edit (on their accounts) the accounting line used for the wire transfer fee. (In this image, a wire transfer fee of $25.00 is displayed in the amount field.) ebsp.msu.edu 19

20 Payment Information Tab EST/CRE EDIT MEMO TAB BS (CONTD..) PAYMEN NT REQU Payments that are processed on a schedule (such as a lease) can be set up by the requisitioner on the requisition, the buyers on the purchase order or Accounts Payable processors on the payment request. This tab contains the details of the schedule and is finalized by the Accounts Payable staff based upon the agreement established on the purchase order. For these types of payments, departments are charged (General Ledger entries are created) as the payments are made. ebsp.msu.edu 20

21 Account Summary Tab PAYMEN NT REQU EST/CRE EDIT MEMO TAB BS (CONTD..) Though accounting lines appear in several areas within the payment request, this tab displays the summary of the accounts and dollar amounts used on the document. Account information cannot be changed in this tab. Fiscal Officers will need to make necessary changes in the appropriate accounting line area. ebsp.msu.edu 21

22 View Related Documents Tab PAYMEN NT REQU EST/CRE EDIT MEMO TAB BS (CONTD..) This tab contains information about other documents that have an association with this payment request. Links are provided d to drill down and obtain more detailed d information. ebsp.msu.edu 22

23 View Payment History Tab PAYMEN NT REQU EST/CRE EDIT MEMO TAB BS (CONTD..) Information on all payments and credits issued against the purchase order associated with this payment can be viewed on the View Payment History tab. Users can click on the links shown here to obtain more detailed information. To locate a check number (disbursement number) for a processed payment, click on the disbursement info link. ebsp.msu.edu 23

24 General Ledger Pending Entries Tab PAYMEN NT REQU EST/CRE EDIT MEMO TAB BS (CONTD..) The General Ledger Pending Entries tab will not display data. Upon invoice entry, General Ledger records are created and the department is charged. ebsp.msu.edu 24

25 Notes and Attachments Tab PAYMEN NT REQU EST/CRE EDIT MEMO TAB BS (CONTD..) As the payment request routes through the system, users can add notes or attachments to the document. Accounts Payable will be attaching a copy of the invoice to all payment requests. Click on the attachment link to display the invoice. ebsp.msu.edu 25

27 AYMENT PA RCH REQUESTS: SEAR In order to do a payment request search, at the Main Menu tab, click on the Payment Requests link under Custom Document Searches. ebsp.msu.edu 27

28 PAYMENT REQUE ESTS: TYP PE P The Type field defaults to PREQ (Payment Request) to search for a payment request. You can search for a payment request by document number, purchase order number, etc. ebsp.msu.edu 28

29 Search Result Type PAYMENT REQUE ESTS: SEA ARCH RESULT TY PE P Thisfield searches for payment requests and credit memos by workflow or document data: 1. Document Specific Data shows information such as Vendor, Account Information, Organization Code and Total Amount. 2. Workflow Data shows the document status, initiator and date created. ebsp.msu.edu 29

30 PA AYMENT TUS STS: STAT REQUES Document Status in the Action List: In Process occurs when the Accounts Payable Processor has entered the paymentrequests, but they havenot completed the document. Awaiting Fiscal Officer Approval occurs after the Accounts Payable Processor has approved the payment requests. Auto Approved occurs when the batch process automatically approves a payment request that is due and pending approval in Fiscal Officer s action list. Fiscal Officers receive an FYI of this action. ebsp.msu.edu 30

31 OTIFICATION ID QUESTS: DOCUMENT/NO ENT REQ PAYM Click on the document identification number to review the selected document. ebsp.msu.edu 31

32 CUMENT STS: DOC REQUES OVERVIEW PA AYMENT In the previous slide, when you click on the document identification number, this screen displays, where you will then be able to view the selected payment request. ebsp.msu.edu 32

33 CREDIT MEMOS: SEARCH In order to do a credit memo search, at the Main Menu tab, click on the Vendor Credit Memos link under Custom Document Searches. ebsp.msu.edu 33

34 OS: TYPE T MEMO CREDIT The Type field df defaults ltto CM (Credit Memo) )to search for a credit memo. You can search by document number, vendor number, etc. ebsp.msu.edu 34

36 PA AYMENT REQUEST R APPRO OVAL Thisprocedure isused by FiscalOfficersto approvepaymentrequestspayment requests. All users may view payment request documents. Only users with a specific role may create, approve, hold or cancel a payment request. The Fiscal Officer has the ability to change the accounting string. ebsp.msu.edu 36

37 FISCAL N LIST R ACTION OFFICER PAYM MENT REQ QUESTS: In the Action List that displays, click on the number in the Identification column to open its corresponding payment request document. ebsp.msu.edu 37

38 PAY YMENT REQUEST R TS: FISCA AL OFFICER APPR ROVE Click the approve button to approve the payment request and return to the Main Menu. ebsp.msu.edu 38

39 FISCAL OFFICER O (CONTD..) NS OPTION CREDIT MEMO: M In the Action Ati List that t displays, click on the number in the Identification column to open its corresponding credit memo document. The Fiscal Officer can view accounts for which they are fiscally responsible. ebsp.msu.edu 39

40 FISCAL OFFICER O (CONTD..) NS OPTION CREDIT MEMO: M Fiscal Officers receive an FYI notification. Once the Fiscal Officer has clicked on the FYI button, they have acknowledged dthe FYI for the credit memo. ebsp.msu.edu 40

41 Q QUESTION NS The EBS Support site, at ebs.msu.edu, contains a wealth of information about EBS, such as: Training materials. Reference Guides and Quick Guides. FAQ (Frequently Asked AkdQuestions). Information on scheduled events such as educational sessions, training sessions, webcasts and site labs. Technical information and system availability. The MSU EBS Support tpth Pathway ispublished as needed ddand contains ti timely information about tebs. You can also call the Service Desk at (517) or them at ais311@msu.edu. ebsp.msu.edu 41