Accounts Payable

Procedure Statement 2: Leases, Rentals and Service Agreements

Monthly Fixed Payments

The Accounts Payable Office will pay monthly invoices for leases, rentals and service agreements upon approval of those standing orders set forth by the Materials Management Department. Payments of such charges will be made until such time as the standing order expires or notification is received from the Materials Management Department to discontinue payment. The Accounts Payable Office will forward a copy of the invoice as support for the charge to the department.

I. Recurring Lease/Rental Payment System-The Accounts Payable Office maintains an access database for Lease/Rental payment. This system is referred to the Auto Pay System. Policy and Procedures as follows:

Policy and Procedures
Effective November 1, 2007

• Purchase orders will be processed by Materials Management and forwarded to Accounts Payable.
  
• FOAPAL information will not be changed unless a change order has been issued.
  
• Blanket order must indicate when payment is due. (1st, 15th etc.).
  
• If contract should be terminated, Materials Management will issue a change order to cancel the order with an effective date of cancellation.
  
• Leases, rentals and service agreements cannot exceed 12 payments per year.
  
• Information will print on the check stub representing the month payment is due.
  
• Incorrect payments will be the responsibility of the Accounts Payable office.
  
• The Accounts Payable’s office (via US postal service) will mail checks.