Before payment can be processed, a "proper" invoice must be received by Accounts Payable and the department must provide all required documentation.
Accounts Payable is required to follow the Prompt Payment statutes in the Code of Virginia when setting due dates for payments of invoices. Invoices must be paid 30 days after receipt of a proper invoice or 30 days after receipt of the goods or services, whichever date is later. Payments may be processed earlier than the required due date if the vendor's cash discount terms are advantageous or if there is a required payment due dated established by the terms of a contract. Therefore, it is very important for the receiving documents to be completed within 3 business days following delivery of goods or services and the date on the receiving document is the actual date the goods or services were received (not the current/defaulted date). Failure to prepare receiving documents timely could result in payment delays. Delays in receiving documents being completed have a direct and negative impact on Prompt Payment and the University's decentralized authority.
Accounts Payable cannot pay a vendor until a proper invoice is received and the appropriate receiving document is received. Banner will automatically do a 3 way match between the purchase order, invoice and receiving document. Once all 3 documents are matched, then payment will be made on the due date established.
Departments are responsible for ensuring that all goods and services are received and properly documented. Receiving documentation should be submitted as soon as you receive your goods/services. Commonwealth and University policy require that you submit your receiving document (either electronic or hard copy), within 3 working days after delivery. Receiving documents provide an auditable source of verification that goods or services are received in good condition and serves as departmental authorization to pay.
All invoices must be mailed to Accounts Payable - not departments.
Departmental staff with the appropriate access may view scanned and indexed invoices via Banner Document Management. The first digit of a check number indicates the type of payment that has been made.
- 0 = Paper manual check
- 1 = Paper check
- 7 = Electronic payment (e-Payables or PayMode)
- 8 = Travel or petty cash/small business expense reimbursement
- 9 = Electronic payment (EDI or Debt Set-off - for Debt Set-off, payment address will be ED99)
To view invoice images via BDM, you must:
- Have the appropriate Banner access
- Have the appropriate BDM access
- Have WebXtender pushed to your desktop
Accounts Payable is required to follow the Prompt Payment statutes in the Code of Virginia when setting due dates for payments of invoices. Invoices must be paid 30 days after receipt of a proper invoice or 30 days after receipt of the goods or services, whichever date is later. Payments may be processed earlier than the required due date if the vendor's cash discount terms are advantageous or if there is a required payment due dated established by the terms of a contract. Therefore, it is very important for the receiving documents to be completed within 3 business days following delivery of goods or services and the date on the receiving document is the actual date the goods or services were received (not the current/defaulted date). Failure to prepare receiving documents timely could result in payment delays. Delays in receiving documents being completed have a direct and negative impact on Prompt Payment and the University's decentralized authority.
Accounts Payable cannot pay a vendor until a proper invoice is received and the appropriate receiving document is received. Banner will automatically do a 3 way match between the purchase order, invoice and receiving document. Once all 3 documents are matched, then payment will be made on the due date established.
Departments are responsible for ensuring that all goods and services are received and properly documented. Receiving documentation should be submitted as soon as you receive your goods/services. Commonwealth and University policy require that you submit your receiving document (either electronic or hard copy), within 3 working days after delivery. Receiving documents provide an auditable source of verification that goods or services are received in good condition and serves as departmental authorization to pay.
All invoices must be mailed to Accounts Payable - not departments.
Departmental staff with the appropriate access may view scanned and indexed invoices via Banner Document Management. The first digit of a check number indicates the type of payment that has been made.
- 0 = Paper manual check
- 1 = Paper check
- 7 = Electronic payment (e-Payables or PayMode)
- 8 = Travel or petty cash/small business expense reimbursement
- 9 = Electronic payment (EDI or Debt Set-off - for Debt Set-off, payment address will be ED99)
To view invoice images via BDM, you must:
- Have the appropriate Banner access
- Have the appropriate BDM access
- Have WebXtender pushed to your desktop