Accounts Payable
Finance
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ACCOUNTS PAYABLE

Accounts Payable is responsible for the efficient and timely payment of all non-salary expenditures of the University. A secondary function is to provide community support and customer service through information communication.

Documents required for payment by Accounts Payable

INVOICE
Must be original
Payment – University Policy, 30 days from date of invoice
Paid every two weeks

CHEQUE REQUISITION
Must have original receipts attached for all reimbursements
Paid weekly

Invoices are run every other Wednesday for invoices that are due. Invoices must be in Accounts Payable by Tuesday 12:00 noon.

Cheques are run every Wednesday for cheque requisitions. Requisitions must be in Accounts Payable by 4:30 p.m. the preceding Friday.

You as the authorized person approving payment are responsible for:
Ø checking if expense is valid charge against cost centre
Ø verifying that goods or services have been received
Ø verifying that goods or services have not been paid previously
Ø making sure that the request for payment is accurate
Ø assigning the account number and proving proper signature

Accounts Payable is responsible for verifying:
Ø the invoice against a Purchase Order
Ø that the expense is within University Policy guidelines – eg. Travel policy
Ø that the person approving payment has signing authority
and ensuring timely payment of invoices and cheque requisitions, verifying if charge is proper for sub account number, spot checking additions and extensions