Procurement
publishes SmartStream policy
Policy:
Effective June 1, purchase orders (including blanket order releases)
established for $1,500 or less (including freight and/or miscellaneous
expenses but excluding tax) will be received by Systems Accounting upon
entry of vendor’s invoice into SmartStream by Accounts Payable.
These purchases will no longer require a receiver sent to Systems Accounting
or entered in SmartStream by the receiving department.
Procedures:
Invoices for above referenced policy will be entered into SmartStream
in the same manner as other invoices. The following day a report will be
generated to inform Systems Accounting of invoices entered by Accounts
Payable which meet the above policy criteria. Systems Accounting will enter
receivers for these invoices within a 24-hour period using the entry date
as the receipt date. Please note: Systems Accounting will receive “all”
purchases under $1,500 even for those areas currently doing their own receiving.
If there are no problems (discrepancies) with the invoice, a check will
be issued once the payment terms (net 30, immediate, etc.) listed on the
purchase order are met.
Discrepancies:
If there are discrepancies with the invoice after Systems Accounting
enters the receiver, SmartStream will generate an exception (i.e., invoice
quantity exceeds quantity available for invoicing, invoice unit price exceeds
unit price tolerance {MUSC uses a 1percent tolerance}, etc.). The buyer
assigned to the purchase order will be notified to resolve the exception.
After discrepancies are resolved by Procurement, checks will be issued
once payment terms listed on the purchase orders are met. Any departmental
discrepancies such as shipping errors, damaged items, etc. on such orders
should be brought to the attention of Systems Accounting at 792-0237 immediately
upon receipt of goods and/or services.
Incorrect Payments and Resolution:
If for any reason a payment is made and it is incorrect, the department
must contact Procurement within 30 days after receipt of the Monthly Transaction
Detail Report listing the incorrect payment. When notified by the requestor
within the 30 day period, Procurement will work with the vendor to resolve
the contested payment with the assistance from the department. If there
are payment disputes after the 30 day period, Procurement will assist the
department in resolving the contested payment with the vendor.
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