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Vendor Payments Using ePayables

Vendor Payments Using ePayables. ePayables – What is it ?. A process to pay vendors via virtual credit cards A program that generates credit card rebates for the University from vendor payments A payment method that reduces paper and its related handling requirements.

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Vendor Payments Using ePayables

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  1. Vendor Payments Using ePayables

  2. ePayables – What is it ? • A process to pay vendors via virtual credit cards • A program that generates credit card rebates for the University from vendor payments • A payment method that reduces paper and its related handling requirements

  3. ePayables Process

  4. ePayables – What Stays the Same at UK • For vendors not in ePayables program – nothing changes • Purchases are still made via Purchase Order (PO) or Payment Request Document (PRD) • Vendors invoice is received and processed in SAP

  5. What changes occur because of ePayables ? • UK eliminates paper checks and related processing costs • UK receives a rebate from the bank • Vendors receive their paymentsmore quickly than if paid by check

  6. What’s happened so far with ePayables • 358 vendors have joined ePayables program • Two more enrollment phases remain to enroll vendors with a goal of 500 vendors enrolled

  7. Payment Information Lookup

  8. Questions

  9. EXCEPTION REQUESTS FY 2013 - 2014

  10. EXCEPTION REQUESTS Total Request Forms Received FY 2013-2014 564 FY 2012-2013586 Total Number of Exception Reasons FY 2013-2014 622 FY 2012-2013 635 Number 1 Reason ………. Travel reimbursement over 60 days 22%

  11. APPROVAL RATES

  12. Requests by Unit

  13. REQUEST REASONS 70.3% are Travel Related !

  14. Questions

  15. PRD Statistics

  16. PRD Statistics Based on creation date

  17. PRD Statistics 1,304 more PRDs rejected 38.9% increase In FY 2013 33.4% of all rejected PRDs were caught by the department Compared to only 19.2% in FY 2014 79.2% of PRDs with errors were not detected until the Accounts Payable review Based on creation date

  18. PRD Statistics 63,232 PRDs APPROVED 9,759 increase from FY 2013 up 18.3% 88% paid within 10 days compared to 92% in FY 2013 98% Approved by AP within 10 days of receiving the document compared to 98% in FY 2013 Based on creation date

  19. Questions

  20. Travel Policy Changes

  21. Uninterrupted Flight Service8 Hours Or More Business Class tickets and/or seat charge expenses will be reimbursed when travel requires uninterrupted flight service of 8 hours or more Example – From Detroit to Shanghai nonstop (no connections) taking 14 hours

  22. Seat Assignment Expenses related to seat charges to secure a confirmed seat assignment will be reimbursed

  23. Questions

  24. Office of the TreasurerProject Update • TRIP • Change in base pay • Approval table in SAP • Discretionary Spending • Student Payments/Awards

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