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Home :: Policies :: Acc.Payable-Disbursement of Funds

Acc.Payable-Disbursement of Funds

Responsible Department
Comptroller
Effective Date
10/01/2015
  1. .

    Purpose

    The purpose of this policy is to clearly state the circumstances and timing in which the University of North Georgia will disburse funds to vendors for products and services.

  2. .

    Definitions

    Please see the University System of Georgia Business Procedures Manual at:  http://www.usg.edu/business_procedures_manual/

  3. .

    Statement

    1. In order for the University to disburse State funds in payment of obligations, the following documentation must be assembled in the Accounts Payable Office:

      1. Copy of the purchase request signed by the department head

      2. Copy of the purchase order issued by the Purchasing Department

      3. The original invoice from the vendor

      4. The receiving report from Receiving showing that goods or services were received and are acceptable

        Once these items are assembled in the Accounts Payable Office, a voucher is created for payment thru the Peoplesoft System. Once all vouchers are created in the system a “Check Run” is completed. The check run is then verified against attached documents to ensure all amounts and documentation is accurate and attached to each voucher. After the check run is complete and verified it is given to the Business Office for disbursement of checks.

    2. Checks will be disbursed from the Business Office directly to the vendor by mail or held for pick up if requested.

    3. If circumstances arise that vary from the above procedures such as the purchase of tags for University vehicles, then these transactions must be coordinated with Procurement, Accounts Payable, and the Business Office.
  4. .

    Support Info

    1. For any additional clarification, please contact the Comptroller’s Office or Accounts Payable.

    2. This document replaces North Georgia College & State University/University of North Georgia Policy and Procedure 708.3 which was in effect from July 1, 2009 through the effective date of this policy.
  5. .

    Procedures

    Any related operating procedures must comply with and reference this policy.

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