Invoices may be received electronically or in hard copy. Hard copy invoices or credit notes should be date stamped immediately. 'Copy' invoices or credit notes should be stamped appropriately.
Check the following details to ensure the invoice or credit note is legally valid:
- Address details - invoices must be addressed either to the University of Oxford or to the department.
- PO Number - where relevant, the purchase order number should be shown.
- Document status – the document must be an invoice rather than a delivery note, order acknowledgement or statement. If the word ‘invoice’ appears on the document then it should be treated as an invoice.
- VAT details - Invoices that charge VAT must also contain all of the following details:
- Supplier VAT number, trading name and address.
- Description of goods or services.
- Invoice number and invoice date (required for invoices over £250; desirable in invoices below £250).
- Time of supply (‘tax point’) if different from the invoice date.
- Analysis of VAT charged, including value and rate used.
- The supplier's VAT number is shown (where they are VAT registered).
- Totals - the invoice totals are correct.
Any invoices that do not meet the criteria should not be input to Oracle Financials but, if necessary, queried with the supplier. Any uncertainty over VAT treatment of should be checked with the Tax Team.
Invoices that relate to a forward currency contract must be handled as per the Foreign Currency Management process.