Accounts Payable Processing Clause Samples
The Accounts Payable Processing clause outlines the procedures and responsibilities for managing and settling amounts owed by one party to another under the agreement. It typically details the process for submitting, reviewing, and approving invoices, as well as the timelines and methods for making payments. By establishing clear steps and expectations for handling payables, this clause helps ensure timely payments, reduces disputes over outstanding amounts, and promotes efficient financial management between the parties.
Accounts Payable Processing a. Review all invoices sent to Charter Impact for proper approval and coding
i. Any discrepancies will be reported to the Client within three business days of CI becoming aware of the discrepancy. CI is not responsible for communicating any information to Client vendors. The fees described in Section 3.01 are based upon Client cooperation and compliance with CI processes and procedures. Time incurred to process payments outside of the pre-established timeline is subject to additional fees as described in Section 8.04 above.
b. Enter invoices for each reporting entity, process check payments, and send checks directly to vendors to reduce turn-around time
c. Provide weekly check registers, accounts payable aging reports, vendor payment history or other ad hoc reports on a recurring or as needed basis
d. On an emergency basis, same day payments can be processed in addition to the weekly cycle (*additional processing fees apply).
e. Complete 1099s for all independent contractors.
i. It is the Client’s sole responsibility to obtain and submit to CI the IRS Form W-9 for all vendors. Client acknowledges that CI is not responsible for processing of Form 1099 for any vendor for which CI has not received a Form W-9 or for any vendor that has not been paid through CI’s vendor payment process.
Accounts Payable Processing. The processing and payment of accounts payable.
Accounts Payable Processing. Entry and payment of ERA’s invoices and vouchers, initial matching of vouchers to PO receipts utilizing SEACOR’s Automated Vouchering System, maintenance of A/P sub-ledger, processing of special requests (i.e., rush checks, invoice maintenance, check requisitions, wire transfers, expense report processing, 1099 preparation, IRS filing, etc.), and processing of A/P reporting as done by SEACOR as of the date the Agreement is executed. The administration/reconciliation of ERA interface files from any card providers and payment to providers. This Service includes continuation of such Services commencing within 90 days after the date the Agreement is executed, in each case to the extent the bank account from which any such payments are to be made change (provided they stay within the same banking institution(s)). One check/ACH batch to be performed on a weekly basis for each business unit: • ERA • ERA Med; and • ERA Leasing Vendor Master Processing of vendor master additions/modifications and purchased item additions/modifications. Policy Updating of delegation of authority (DOA) levels in Oracle. Month end closing of Oracle A/P module. Services to be performed by existing dedicated A/P pool personnel. Certain latitude regarding the date the A/P module is closed, but no later than the 7th calendar day of each month. 1099 Reporting Preparation and distribution of 1099s to vendors and suppliers for disbursements made by SEACOR’s AP Shared Services. Preparation and electronically filing 1099 reporting required by the Internal Revenue Service. Schedules As set forth in: • AP Shared Services Agreement • AP Shared Services Disbursement Schedule Excluded: a) Requisitioning and receiving of purchases b) Any policy related decisions such as approval limits for employees and payment terms c) Booking of month end manual A/P accruals Cost $20,000 per month. Duration 12 months, (ERA agrees to provide SEACOR with 60 days’ notice of termination of service). Contacts SEACOR: ▇▇▇▇ ▇▇▇▇▇▇▇ ERA: ▇▇▇▇ ▇▇▇▇ ID # Description of Service Cost/Duration
Accounts Payable Processing. Upon receipt of the reimbursement request from a Supervising Attorney/Program Director, the Accounting Department shall process and reimburse requests to the employee in a timely manner, period not to exceed 10 working days.
Accounts Payable Processing. Payroll Administration Processing;
Accounts Payable Processing. The Accounts Payable delivery organization is aligned across six (6) delivery centers located in Endicott, New York; Bangalore, India; Budapest, Hungary; Buenos Aires, Argentina; Shanghai, China; and Dalian, China.
Accounts Payable Processing. FULL DESCRIPTION OF THE SERVICE: • Accounts payable processing.
Accounts Payable Processing. The processing and payment of accounts payable for the Plan.