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Comprehensive Guide to Purchasing and Accounts Payable Procedures

This comprehensive guide outlines the financial affairs agenda, detailing purchasing methods, eProcurement processes, accounts payable practices, and vendor selection strategies. It highlights important considerations for special purchasing situations, such as gift purchases, international payments, and large acquisitions. It also specifies approval processes for purchase orders over $2,500, requirements for various asset acquisitions, and links to additional resources. Understanding these procedures is crucial for effective financial management within the university.

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Comprehensive Guide to Purchasing and Accounts Payable Procedures

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  1. Budget Manager II Financial Affairs

  2. Agenda • Purchasing Methods • eProcurement • Additional Purchasing Resources • Accounts Payable

  3. Purchasing Methods

  4. Purchasing Methods • Vendor Selection / Preferred Vendors • Direct Buy Methods • ProCard • Reimbursements • Voucher check • Purchase Orders

  5. Special Situations Additional consideration should be given to: • Gift purchases (e.g. gift cards, other taxable income) • International payments • Crossing fiscal years • Grant purchases • Large purchases • Conflicts of Interest • Vehicle purchases/leases

  6. Purchase Orders • Required if over $2,500 • Or if technology over $500 • If over $25,000 • Contract review process • Bidding policy

  7. Purchase Orders • Approval Processes: • Over $25,000  Requires Procurement Director approval • Over $75,000  Requires Treasurer’s Approval • Grants  Requires OSPR and/or Restricted Accounting approval • Fixed Assets  Requires Financial Accounting approval • Technology Over $10,000  Requires IS and EVP/Provost approval • Vehicles  Requires Risk Management Approval

  8. eProcurement Start in Campus Connection

  9. Additional Purchasing Resources

  10. Additional Resources Procurement Services & Accounts Payable Website http://www.depaul.edu/~procure • More information on purchasing/payment processes • Preferred vendors • News • Forms • Personal discount programs

  11. Additional Resources Financial Affairs http://www.depaul.edu/~faffairs/ University Policies and Procedures http://policies.depaul.edu Office of Institutional Compliance http://compliance.depaul.edu Office of the General Counsel http://condor.depaul.edu/~ogc/ Office of Sponsored Programs and Research (OSPR) http://ospr.depaul.edu Advancement http://giving.depaul.edu

  12. Accounts Payable

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