Accounts Payable

1. Accounts Payable Nancy Henley Pam Frazier, MBA, CPA

2. The Vendor • Is the vendor in the accounting system? • Get the vendor in the system • New vendor request form • Packet to vendor • Vendor information form • W-9 • Credit information sheet • Tax exemption certificate to vendor • No purchase requests without all information

3. W-9 FormAvailable at www.irs.gov • Verify for completedness • 9 digit EIN or Social Security number • Entity status • Signed and dated

4. The Vendor • Check Excluded Parties List System website for debarred vendors • www.EPLS.gov • Receive completed paperwork, update vendor list in software • Let building/department know vendor is available

5. PO, PO, PO, PO, PO, PO • Requisition • Purchase order approved • Product ordered • Product received • All products should be checked in • Save packing slips • Mark product received in system

6. Invoices • Exact procedures vary by district • Enter invoice in accounting software • Scan invoices and send to locations for approval • Building/Department approval • Pay only from invoice, not a statement • Checks for approved invoices only • Check and balance on checks and invoices before leave district

7. Purchasing Cards • Again, procedures differ by district • Recommend PO for all purchases, even with P-Cards. • Make sure vendor is approved & in system • All receipts turned in to AP department • Label receipt with “VISA” • PO Number • Itemized receipt • No sales tax • Online purchases

8. Travel and P-Cards • Need to follow District procedures for travel • Tracking expenditures for travel in total • Maintain a spreadsheet or other document that contains all the costs of a trip • Original detailed receipts for expenditures

9. E-Verify • No business entity or employer shall knowingly employ, hire for employment, or continue to employ an unauthorized alien to perform work within the state of Missouri. • Public Employers • All public employers must enroll and actively participate in E-Verify beginning January 1, 2009. • Public employers include every department, agency, or instrumentality of the State or political subdivision of the State.

10. E-Verify • Not for goods or products • Applies if services >$5,000 • Sworn affidavit affirming that vendor does not violate prohibition on employing unauthorized aliens • Proof that vendor enrolled in E-Verify • E-Verify screen printout

11. 1099 Forms • Determining 1099 vendors • Not Incorporated • Tracking 1099 activity • $600 or more • Services only, not goods • Tracking 1099 activity on P-Cards • 1099K completed by issuing bank, PayPal, etc. • Who is responsible for issuing 1099s • Answering “Why did you send me this form?”

12. Construction Projects • Competitively Bid • Newspaper ad if over $15,000 • Paper in general circulation, daily, tri-weekly, semiweekly or weekly • Published regularly and consecutively for three years • At least once a week for two consecutive weeks

13. Construction • Check State Statutes and Board Policy • Advertising • Bid Specifications • Application and Certification for Payment • Serves as invoice • Completed • Notarized • Verify work completed • Verify retainage

14. Construction • Backup Documentation • Description of work completed • Lien Waiver • Certified payroll records • Prevailing wage • E-Verify • >$5,000

15. E-Payables • Marketing the service to your vendors • Educating vendors on the benefits • Educating staff on the benefits • Vendor Resistance • Using the rebate savings

16. Electronic Approvals-Workflow • Gather your team – who needs to approve based on your district policies • Multiple layers of approvals • No purchase order generated till approvals are in place • Streamlines process and eliminates paperwork

17. Changes in Accounts Payables Processing • More automated • Moving from paper to electronic • P-Cards • Staff responsibilities changing

18. Questions? • Nancy Henley - nhenley@psdr3.org • Pam Frazier – frazierpj@warrencor3.k12.mo.us