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Purchasing Update

Purchasing Update. CATS December 12, 2007 Jennifer Foutty, Purchasing. Agenda. Paying Speakers, Lecturers, Honoraria Confirming Orders Receipt of Invoices Extending POs. Paying Speakers, Honoraria. A recent audit was completed by Internal Audit

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Purchasing Update

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  1. Purchasing Update CATS December 12, 2007 Jennifer Foutty, Purchasing

  2. Agenda • Paying Speakers, Lecturers, Honoraria • Confirming Orders • Receipt of Invoices • Extending POs

  3. Paying Speakers, Honoraria • A recent audit was completed by Internal Audit • One of the recommendations will be to move all compensation for services to EPIC • Process can be found on the purchasing web site: www.indiana.edu/~purchase and look for Institutional Procedure Guidelines

  4. Confirming Orders • Any order: • Where an invoice is received before the PO is issued • Where the work has started or the goods are delivered before a PO is issued • This will be a finding on the upcoming audit – Internal Audit can run reports by organization • Please help us communicate to your organization: and order is not a valid order until the PO is issued to the vendor

  5. Receipt of Invoices • All invoices must go directly to A/P unless and exception has been made in writing • This was the outcome of a previous Internal Audit because of: • Timeliness of payment • Internal Controls • The Fiscal Officer can still see the invoice image on the PREQ

  6. Extending POs • There is no specific guidelines whether to extend a current PO or issue a new one • For goods, it is best to issue a new PO • For services, if the terms are the same, it might be best to extend the current PO

  7. Q&A • Jennifer Foutty • jfoutty@indiana.edu

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