Today’s office hour covered the P2P cycle. Many thanks to Brian Soika for joining us today to take questions! The Zoom recording is available in the FBDI folder under Zoom recordings here: https://rice.box.com/v/FBDI-folder-for-dropoff
The general ledger accounting information is here:P2P encumbrance accounting
The cycle is requisition, approval, PO, receipt, invoice, and payment. You must have a Procurement Requestor role to initiate a requisition, and an Approver role to approve a requisition. The Procurement Requestor can receive or designate another employee to receive, no special role required. Requisitions are entered by punchout (catalog), quantity (for goods), or amount (services). The supplier must be set up in advance, by creating an HR/Finance Help Desk ticket. View the progress of the transaction through the Procurement tile in Oracle, under Manage Requisitions particularly on the View Life Cycle option. Receipts are required for purchases for any amount.
The expense account is charged at the time the PO is issued and the encumbrance is relieved when the vendor is paid and the PO is liquidated.
Once a purchase order has a status of Validated with a paid amount it is complete. If the receipt and paid amount does not match the original PO, you can change the PO to the paid amount in order to close the PO. If a purchase order is charged to a project and the project cannot be charged for some reason (usually a conflict between the project date and the expenditure date) then a commitment will be created on the project but no expense will be recorded. You must resolve this conflict to close the project or close the PO; please contact your research accountant or capital accountant if you need assistance.
Non-standard disbursements are used only if the supplier does not accept purchase orders, and are limited to a specific list of transactions such as non-employee expense reimbursement, honoraria, sports officials, cash awards and prizes, and similar payments. NSD volume is high, so current processing times are 10-14 business days.
NSD payments are issued immediately, but other vendor payments are issued 30 days from the invoice date. Checks are cut by our bank (JP Morgan Chase) daily at present due to volume, but usually twice a week on Tuesday and Thursday. SUA (credit card) and ACH payments are processed daily.
Some useful reference material and job aids for P2P:
Procure-to-Pay (P2P) Instructor-Led Course Presentation Slide Deck
View Purchase Requisition Lifecylce and Invoice Payment Status
Modifying Requisitions_PO Change Orders_PO Cancellations
Change Orders to Close POs (1)