Course 2: Accounts Payable Processing Part 1 – Basic Data Entry

…Reference Guide Simulation Exercise 3 (Processing an Invoice using One Time Vendor) Reference Guide Simulation Exercise 4 (Processing a Credit Memo) Reference Guide Simulation Post-class Material/Resources Knowledge Centre Articles –…

Cash, Other Receipts and Banking

…subordinate bank account. Debit Card or Credit Card Facility The Financial Services Department provides guidance and assistance in setting up a Debit Card or Credit Card Facility to allow University…

Alternate Payee

…that the vendor is a legitimate entity with acceptable financial stability. Credit memos can only be processed using a regular vendor account. Credit memos cannot be processed using an OTA…

Fiscal Year-end Closing Procedures

…or credits. An example would be rejects for student award payments processed through ROSI/FICA. Students receive credits in their accounts, while the corresponding charges to divisions are rejected. To ensure…

Purchase Order Invoices

…incorrect payment has been made to a supplier using an OTA (one time only) account, the supplier should be contacted and a refund cheque requested. A credit note is not…

Harmonized Sales Tax (HST)

…available in CRA’s Memorandum 8.4, Documentary Requirements for Claiming Input Tax Credits. When HST Not Assessed by the Supplier – Do I need to self-assess HST? Taxable goods and…

Budget Implementation – Operating Fund

…specific operating purposes; government grants for specific operating purposes; income from sales or services provided externally or internally; fees from non-credit courses; non-tuition-related compulsory ancillary fees; and departmental overhead income…