purchase to payment process at vanderbilt n.
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Purchase to Payment Process at Vanderbilt. Overview. Business-to-business purchasing and payment does not follow the same process as personal purchasing and payment. Purchases at Vanderbilt are planned and approved before the supplier is notified of the purchase. Overview.

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Presentation Transcript
overview
Overview
  • Business-to-business purchasing and payment does not follow the same process as personal purchasing and payment.
  • Purchases at Vanderbilt are planned and approved before the supplier is notified of the purchase.
overview1
Overview
  • The supplier should bill (i.e., invoice) Vanderbilt’s Disbursement Services department for the purchase at the same time it ships the goods to you.
  • Disbursement Services usually has 45 days from the date of the invoice to pay it.
the purchasing process
The Purchasing Process
  • Three steps:

Disbursements

Procurement

Shop

Buy

Pay

Purchase item(s)

eProcurement, Requisition

Pay the supplier.

Identify supplier(s). Choose supplier and product.

purchase to payment process
Purchase to Payment Process
  • Step 1: You create a requisition containing the item(s) you want to purchase.
    • Paper requisition- A-req, C-req
    • eProcurement requisition
  • Requisition with proper signatures goes to Procurement Services.
purchase to payment process1
Purchase to Payment Process
  • Step 2: A Purchasing Agent uses your approved requisition to create a Purchase Order (PO).
  • The purchase order is sent to the supplier.
purchase to payment process2
Purchase to Payment Process
  • Step 3: The supplier sends the goods to you and the bill (invoice) to Vanderbilt’s Disbursement Services department.

Goods go to you.

Invoice goes to Disbursements.

purchase to payment process3
Purchase to Payment Process
  • Step 4: You check the shipment against the packing slip.
  • Step 5: Disbursements creates a voucher for the invoice and pays it if it matches the PO.
summary purchasing to payment process
Summary: Purchasing to Payment Process
  • Department creates requisition and sends to Procurement.
  • Procurement uses req to create PO and sends PO to supplier.
  • Supplier ships goods to you and sends invoice (bill) to Disbursements.
  • Disbursements enters invoice into AP/PO system and creates voucher; Disbursements pays invoice if it matches PO.
for p card purchases
For P-Card Purchases…
  • The transaction steps are similar to the PO process, but condensed:
    • Purchases are approved in advance by the department.
    • The receipt of goods and payment happens simultaneously, instead of in two separate steps.
    • The vendor provides the purchaser with the invoice (or bill) instead of sending it to Disbursement Services.