The principal function of Accounts Payable is to issue payment for services rendered on behalf of the AUI. AUI Accounts Payable items consist of vendor invoices, travel reimbursement requests, general reimbursements, and inter-company payments.
AUI has established that AUI Corporate checks are signed by the AUI Treasurer. Checks in excess of $50,000 require two signatures from among the three authorized signers (AUI President, AUI Treasurer and AUI Controller).
- Invoices and other requests for payment are received and date stamped by the AUI Administrative Assistant for review of accuracy, allowability/unallowability of costs and account coding.
- Appropriate account number is added.
- Once reviewed, these items are forwarded to the AUI Controller for approval.
- A copy of accounts payable items are maintained at the AUI Corporate Office.
- After approval, these items are sent to the AUI/NRAO Chief Accountant who enters the items into the JD Edwards accounting system.
- Checks are processed weekly or on an as-needed basis. Vendors are paid within 30 days of receipt, if payment terms are not specified, and travel/general expense reimbursements are paid within 15 days of receipt.
- The AUI/NRAO Chief Accountant prepares the checks with the electronic signature of the AUI Treasurer, but checks over $50,000 require an original signature and an additional signature from the AUI Controller or President. A copy of the checks and supporting documentation are filed.