Purchase Order - Step 6
Once an invoice has been entered and approved, and any holds appropriately cleared in the University's business and financial system (BEN Financials) in step 5, payment activities are completely automated. Each evening, the system selects invoices from the queue for payment according to supplier terms—typically 30 days for most suppliers and 7 days for EDI (electronic data interchange) suppliers. A University check is produced according to terms and sent the next day.
Adherence to the P2P process outlined in these simple steps makes it easier to conduct business at the University. Deviations from the process (e.g., orders placed by phone, invoices sent to the customer's department rather than to A/P, etc.) are not acceptable. They create unnecessary "invoice holds," delaying payment and negatively affecting the University's relationships with its suppliers.