- Purchase to Pay
- Obtain quotations or tenders
- Select a supplier
- Order via Internal Trade
- Order with a Purchase order
- Order without a Purchase Order
- Receive/reject goods or services
- Process Invoices
- Make payment
Invoices are selected for payment by Oracle Financial when they are due under the agreed payment terms with the supplier and are not on hold. All credit notes will automatically default to immediate payment terms. Invoices that reach their due date will NOT be selected for payment if they are on hold. The Invoices on Hold Report should be used to manage these invoices.
Payments of both UK and overseas suppliers normally take place on a weekly cycle. There are also facilities for urgent cheque payment and same-day electronic payment (for which there is a charge). Payment will not usually be made until the closest payment cycle prior to the due date. For more information see the Overview of Payments page.
Payments are made, wherever possible, using the most cost effective means available. Usually, this means via electronic funds transfer into the recipient’s account using the Banks' Automated Clearing System (BACS). Payments made by BACS will enter recipients' accounts the Wednesday following the payment run.
A payment advice document is sent to the recipient for information.
Most payments that the University makes to suppliers or other corporate bodies will be subject to UK VAT. The University must account for VAT through reference to the activity to which costs and income relate. It is important, therefore, in dealing with supplier payments, that the correct VAT code is assigned to the payment instruction.
Payments to suppliers and other bodies should also be considered in the context of whether they support the University's charitable objectives, as this has an important bearing on Corporation Tax implications.
The University Tax webpages contain further information on both VAT and Corporation Tax within the University.