Manage Invoices for Payment

Purchase to Pay Introduction Identify Need for Goods or Services Purchasing Equipment over £100k Identify Potential Suppliers Check Correct Payment Route Tenders and Quotations Establish Purchasing Route No Purchase Requisition Order via Marketplace Payment Requests Receive (or Reject) Goods or Services Manage Invoices for Payment Open POs/Invoices on Hold Process Controls

Checking Invoices or Credit Notes

When you receive an invoice or credit note, you should date stamp it immediately and check the following details to ensure it is legally valid:

  • The invoice is correctly addressed to the University and relates to the department
  • (Where relevant) the purchase order number is shown
  • That the supplier's VAT number is shown (where they are VAT registered)
  • The invoice totals are correct

'Copy' invoices or credit notes should be stamped appropriately.

Note: Invoices which relate to a forward currency contract agreement must be handled as per the Foreign currency management process.

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Processing Invoices or Credit Notes

If all the above are correct, best practice recommends that the invoice or credit note should be signed by an authorised signatory. (It is the responsibility of the Departmental Administrator to ensure the signatory list is maintained.)

Invoices/credit notes should be entered onto Oracle Financials, depending on your department's agreement with the Payments Team, by either:

  • Sending the invoice to the Payments Team, or,
  • Processing it locally within your department

If your invoice is to be processed by the Payments Team and does not relate to a Purchase Order, before sending it:

  • Code the invoice - write the tax classification code, tax code, and full accounting string on the invoice; and an authorised signatory needs to sign and date the invoice.

If you are processing the invoice within your department, you should either:

  • Match an Invoice to a Purchase Order, or, 
  • Enter a Standard Invoice where there is no purchase order to be matched

In addition, for all invoices you should:

  • Code the invoice - write the tax classification code, tax code, and full accounting string on the invoice; and an authorised signatory needs to sign and date the invoice.

For details on processing a credit note, refer to the relevant document below:

  • Enter a Quantity Credit Note
  • Enter a Price Credit Note
  • Enter a Credit Note for an Invoice not Matched to a Purchase Order
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Handling Incorrect Invoices

Incorrect value
Where the total value on the invoice is greater than agreed, you should request a credit note from the supplier. The invoice should still be entered onto Oracle Financials, as detailed above, but put on 'hold' awaiting the credit note. For further guidance contact the Helpdesk.

Non-valid
If the details (other than the total value) are incorrect and the invoice is deemed to be invalid, you should return the invoice to the supplier, logging its receipt and return on a spreadsheet or similar. Do not enter the invoice onto Oracle Financials.

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Filing Original Invoices

For tax and audit purposes, original invoices must be retained for seven years in a suitable format and storage location. Further guidance on suitability of storage can be provided by the Payments Manager.

All invoices over £20k filed locally should be copied and this copy sent to the Payments Team for verification.

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Supplier Payments Notes

  • The main weekly payment run is each Thursday.
  • Foreign payments are processed each Monday.
  • The aim is to pay as many suppliers as possibly by BACS.
  • Payments deemed to be 'urgent' can be run on any day of the week. Contact the Payments team where urgent payment is required.
  • Invoices are only selected for payment when they are due under the agreed payment terms with the supplier (normally 30 days).  Note:  all credit notes will automatically default to immediate payments terms.
  • Due invoices will NOT be selected for payment if they are on hold - to resolve invoice holds refer to Open purchase orders and invoices on hold.
  • All invoices over £20k are checked by the Payments Team along with random spot checks
    • for such items, where invoices are filed locally within the department, you will be asked to provide the original invoice, where this is not possible, payment of the invoice will be delayed pending further investigation
  • US Dollar (USD) cheque payments made to an address in the US are paid using dollar cheques drawn against a University dollar bank account held in the US. This is also done on a weekly cycle, with cheques being produced on a Wednesday. Invoices received by the Payments team by noon on Wednesday (or input locally within departments before this deadline) will be included in the weekly run if they are due for payment.
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