Accounts Payable serves a vital support function to the procurement process at Florida Gulf Coast University. We are responsible for ensuring that all state, federal, and University Board of Trustees regulations and policies are followed regarding the receipt of and payment for goods and/or services. Our primary mission is to provide timely and accurate expenditure processing of university funds while maintaining an exceptional level of customer service.
For the purpose of determining the date an invoice was received, the university will be deemed to have received an invoice on the date an invoice is received in Accounts Payable. Accounts Payable will date stamp each invoice as it is received. In cases where the vendor invoice is incorrect and the vendor is required to furnish a revised invoice, the date the revised invoice is received in Accounts Payable will be the date an invoice was received.
Accounts Payable processes most invoices based on negative assurance. Invoices will be sent out to ordering departments, but will be paid UNLESS the department notifies Accounts Payable in writing that the invoice should not be paid. The department has five (5) working days to make this notification to Accounts Payable before the invoice is processed for payment. The following payments are not made with negative assurance:
- Payments against Standing Orders.
- Payments that are greater than the amount encumbered on a Purchase Order.
A Change Order will be required prior to payment processing if there is a dollar of quantity discrepancy between the purchase order and the vendor invoice that exceeds the greater of 10% or $100 of the initial Purchase Order Amount.
When a department returns merchandise for credit, Accounts Payable should be notified that a credit invoice/memo will be issued. If the credit is issued on a purchase that was originally made from a standing order, the credit memo may be applied to the next purchase against that standing order. If the payment was originally made from a one-time purchase order, a refund check should be requested. The refund check should be deposited into the same INDEX as the original expenditure if occurring in the same Fiscal Year. Prior-year refunds that cross Fiscal Years should be deposited into a Carry Forward INDEX. The Budget OFfice should be contacted to determine which Carry Forward INDEX is to be used.
Invoicing and Payment
Unless otherwise stipulated on the Purchase Order or contract, all invoices should be submitted directly to the University's Accounts Payable Department. Florida Gulf Coast University is exempt from Florida state sales taxes. The exemption number appears on the face of the vendor Purchase Order copy. Payment may be delayed if invoices or packages do not reference a University purchase order number.
Payment terms shall be Net 30.