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PROCESSING PRIORITIES #4 – WOULD YOU LIKE TO SAVE SOME MONEY THIS YEAR?

Did you know that you can save your department and University of Florida money by taking advantage of cash discounts offered by vendors? 

To assist you with this effort we have prepared and attached a list of vendors offering cash discounts under the condition that invoices are PROCESSED and APPROVED and CHECKS ARE ISSUED within the number of days specified. 

A Microsoft Excel formatted list of approved vendors can be found here.

Example:  If a vendor’s terms are 21040, this means that UF will receive a discount of 2% if our check is dated within 10 calendar days of the invoice date (includes weekend days).  However, no discount applies if payment is made after 10 calendar days and up to 40 days after the invoice date.  After 40 days, the payment is considered late by the vendor.

In order to take advantage of vendor discounts, we have to work together.  We ask that you:

• Write and highlight the word “DISCOUNT” on your invoice prior to submission to Processing for payment.

• Allow a minimum of two business days from the time the invoice is delivered to our office, so that we can process and approve the payment before the discounted due date.

Example:  An invoice is dated Wednesday, 8/16/06.  Since the due date to receive the discount is Saturday, 8/26/06, the invoice marked “DISCOUNT” must be in our office no later than 12:00 Noon, Wednesday, 8/23/06. We will process the invoice the same day we receive it, approve it the next day (Thursday, 8/24/06), and a check will be issued (dated) the following day (Friday, 8/25/06).

Keep in mind that any omitted or incorrect chartfield information or budget problems will interfere with meeting the deadline for discounts.

We hope you find this information to be helpful and as always, feel free to contact us if ever you have questions or concerns. We are here to assist you!

PROCESSING PRIORITIES #3

WARNING!!

Please make sure that receipts submitted with UFF-PA (Payment Authorization) forms are LEGIBLE.  If the Foundation staff cannot verify that the amount requested on the UFF-PA form matches the amount on the accompanying receipts, they will not be able to approve the request and issue a reimbursement.

PROCESSING PRIORITIES #2

When requesting a reimbursement for an individual, the following documents are required:

1. The ORIGINAL receipt with the required supporting documentation for reimbursement. For example: Employee reimbursement for a membership requires an Open Record Certification for Payment of Membership form.
2. A completed Transaction Authorization Form.
3. One complete copy of the above listed items.

The link for this form which has been modified for Engineering's use is:
http://www.eng.ufl.edu/home/pro/links/transactionauth.pdf

You can also access it from our Web site at www.eng.ufl.edu/pro under "On-line Forms."

PROCESSING PRIORITIES #1

In order to avoid problems at the vouchering stage of the purchasing cycle, it is very important to establish your requisition properly.

If you select a "Quantity" PO when creating a requisition, remember that the number you insert in "Quantity" should be equal to the number of times against which the PO may be vouchered.

Examples:

1. If you need to initiate a PO to ABC Company for monthly charges for the entire fiscal year, there are two correct ways to do so. The first would be to establish a Quantity PO for a quantity of 12. This would allow the PO to be vouchered against no more than 12 times, i.e., once a month for 12 months. The second correct way is to establish an "Amount" PO, however this can only be done if there are no items to be "received," such as services or space rental payments.
2. If you would like to order one (1) computer from XYZ Company, be aware that oftentimes the one computer arrives in multiple shipments (monitor, hard drive, keyboard, etc.) and multiple invoices are generated by the vendor. If you were to establish the PO quantity as one (1), the PO could only be vouchered against one time.* Therefore, the correct method would be to establish a Quantity PO with detailed line items for each piece of the computer and make the quantity on the PO equal to the total number of pieces.

* If you have already issued a Quantity PO for an incorrect quantity, the quantity can be changed by Purchasing via a Change Order as long as the PO has not been vouchered against.

Note: Change Orders are not necessary for shipping/freight charges. These charges can be paid unencumbered.

Remember, if you have any questions, please do not hesitate to contact the College of Engineering Processing Section at 392-5891 or e-mail all-processing@eng.ufl.edu.