Cash Disbursement/Responsibility

Accounts Payable Clerk

• Receives invoices and/or supporting documentation in mail.
• Compares invoice quantities, prices, and terms with those indicated on the purchase requisition.
• Verifies invoice quantities with those indicated on the receiving report.
• Identifies department for which the goods were purchased.
• Indicates appropriate account code(s) to be changed on the invoice.
• Attaches second copy of purchase requisition, receiving report, etc., to the supporting documentation and forward to the Business Manager.

Chief Fiscal Officer

• Verifies documents by reviewing either prior documentation or other information in filesdetermine that the documentation is correct.
  
• Discusses questioned documentation with Dean/CEO
• Reviews all documentation
• Instructs Business Manager as to additional documentation needed, if necessary to verify cost.
  
• Reviews and initials those invoices authorized for payment.
  
• Informs Director of Administration which bills to pay immediately and which to file in accounts payable to be paid at a later time, based on payment terms, etc.
  
• Prepares a check and attaches check to documentation.
  
• Cancels invoice by stamping “PAID” and writing the check number on all documentation.
  
• Forwards all documents to Dean/CEO.
  
• Reviews for accuracy and completeness.
  

Dean/CEO

• Signs check and forward to Accounts Payable Clerk.
• Mails checks along with invoice copies to vendors.

Post checks to cash disbursement journal in check number order, denoting date, payee, amount and account code. Forwards other documents to Accounts Payable Clerk.

Files canceled invoices and attached documentation chronologically in paid vendor files.