FAST Tips Newsletter

…it’s Impact on the CO Planning Process How to Locate the Exchange Rates within a Purchase Order, Goods Receipt and Invoice Receipt Avoid Returned Cheques!   January 2025 REMINDER of…

Purchase Order Invoices

…Authorizing Purchase Order Related Payments Receiving Reports Invoice Amount Exceeds Purchase Order Amount Returning Goods to Suppliers   Authorizing Purchase Order Related Payments The preconditions for issuing payment to a…

FIS Glossary

…to EITHER a Cost Center OR an Internal Order, but NOT both. Order datePurchase, sale or service order date. Order GroupAn alphanumeric code representing a group of related Internal Orders….

Travel and Other Reimbursable Expenses – Policies and Guidelines

…transportation for the most convenient, direct, timely route to and from the airport. 2. Receipt Requirement The original receipt required is the supplier receipt, not just a credit card receipt….

FAST Monthly Lunch and Learn Sessions

…Purchase Order Reversing Goods Receipts and Invoice Receipts Foreign Exchange and Purchase Orders Paying a PO Invoice Receipt via Wire Transfer Determining the Status of a PO Invoice Payment USOURCE…

Harmonized Sales Tax (HST)

…supplier charges GST/HST on goods or services and the invoice exceeds $499, the invoice must contain the following information. The supplier’s business name or trading name or an intermediary’s* name….

Accounts Receivable, Collection Responsibilities and Uncollected Amounts

…Invoices For most invoices related to external income and external expense recoveries, the terms of payment are due upon receipt of invoice. The University of Toronto invoice is used only…

Fiscal Year-end Closing Procedures

…year, which meet the following criteria: no corresponding invoice receipt document was processed an invoice receipt document was processed but differences exist between the goods receipt and the invoice document….

Certified Invoices

…purchases of goods and non-consulting services under $10,000, you have the following options: uSOURCE Purchasing Card Issue a departmental purchase order. (Note: This type of purchase order will not be…

Overview of Accounting Process for Purchase Orders

…(e.g. entered as a “certified invoice”) Two steps are required: Reverse the Goods Receipt document; see the quick reference guide: Goods Receipt Reverse Cancel Purchase Order; See the quick reference…