Common use of Accounts Payable Processing Clause in Contracts

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. 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.. Client Initials: CI Initials: Charter Impact Management & Accounting Services Agreement