Accounts Payable Invoice Approval Process Clause Samples

Accounts Payable Invoice Approval Process. Goods: UTMB requires a 3-way match for payment on Purchase Orders for goods. The 3-way match includes a UTMB Purchase Order, a UTMB Materials Management Receipt, and a Supplier Invoice. All items must match with respect to quantity, price, and receipt in order for a payment to successfully remit to a Supplier. Invoices submitted by suppliers with prices higher than referenced on the associated Purchase Order will cause payment delays. Suppliers can avoid such delays by settling the pricing discrepancy at the time of Purchase Order issuance/acknowledgement. Suppliers should contact the buyer named on the Purchase Order to initiate such price discrepancy discussions. Services: UTMB requires a 2-way match for payment on Purchase Orders for services. The 2-way match includes a UTMB Purchase Order and a Supplier Invoice. In addition, complete performance of services must be verified by an appropriate UTMB representative before an invoice for such services will be paid unless otherwise stated in the Agreement. All items must match with respect to quantity, price, and verified acceptable performance of services in order for a payment to successfully remit to a Supplier. Accounts Payable staff will release payment to the supplier only upon written approval from the ordering department.