Vendor Payments Using e Payables e Payables What

Vendor Payments Using e. Payables

e. Payables – What is it ? 1. A process to pay vendors via virtual credit cards 2. A program that generates credit card rebates for the University from vendor payments 3. A payment method that reduces paper and its related handling requirements

e. Payables Process

e. Payables – What Stays the Same at UK • For vendors not in e. Payables program – nothing changes • Purchases are still made via Purchase Order (PO) or Payment Request Document (PRD) • Vendors invoice is received and processed in SAP

What changes occur because of e. Payables ? • UK eliminates paper checks and related processing costs • UK receives a rebate from the bank • Vendors receive their payments more quickly than if paid by check

What’s happened so far with e. Payables • 358 vendors have joined e. Payables program • Two more enrollment phases remain to enroll vendors with a goal of 500 vendors enrolled

Payment Information Lookup

Questions

EXCEPTION REQUESTS FY 2013 - 2014

EXCEPTION REQUESTS Total Request Forms Received FY 2013 -2014 FY 2012 -2013 Total Number of Exception Reasons FY 2013 -2014 FY 2012 -2013 Number 1 Reason ………. Travel reimbursement over 60 days 22% 564 586 622 635

APPROVAL RATES

Requests by Unit

REQUEST REASONS e ! d t a l e v a r 7 % 3. 0 T e ar R l e

Questions

PRD Statistics

PRD Statistics FY 2013 Total PRDs (Approved and Rejected) Increase from Prior Year FY 2013 Approve d 96. 3% 53, 473 Rejected 3. 7% 2, 045 55, 518 % FY 2014 % 66, 581 16. 6% FY 2014 Rejected 5. 0% 3, 349 Approve d 95. 0% 63, 232 Based on creation date

PRD Statistics FY 2014 Rejected 5. 0% 1, 304 more PRDs rejected 38. 9% increase In FY 2013 33. 4% of all rejected PRDs were caught by the department Compared to only 19. 2% in FY 2014 79. 2% of PRDs with errors were not detected until the Accounts Payable review Based on creation date

PRD Statistics 63, 232 PRDs APPROVED 9, 759 increase from FY 2013 up 18. 3% 88% paid within 10 days compared to 92% in FY 2013 98% Approved by AP within 10 days of receiving the document compared to 98% in FY 2013 Based on creation date

Questions

Travel Policy Changes

Uninterrupted Flight Service 8 Hours Or More Business Class tickets and/or seat charge expenses will be reimbursed when travel requires uninterrupted flight service of 8 hours or more Example – From Detroit to Shanghai nonstop (no connections) taking 14 hours

Seat Assignment Expenses related to seat charges to secure a confirmed seat assignment will be reimbursed

Questions

Office of the Treasurer Project Update • TRIP • Change in base pay • Approval table in SAP • Discretionary Spending • Student Payments/Awards