IMPORTANT: The FinPro Help Desk is transitioning to a PSC Service Desk. Learn how the OUC and PSC are reorganizing help desk and training functions. During the transition (Sept 7-Oct 31), hours for phone service are 10:00 a.m.-noon and 1:00-3:00 p.m., Mon-Fri. Voicemail will not be monitored. Email us anytime at FinProHelp@cu.edu.
Invoices for purchased items are submitted by the supplier directly to PSC Payable Services. (If the supplier sends the invoice to the ordering department, the department must forward it to Payable Services.)
The goal of Payable Services-Accounts Payable (AP) is to audit and process all invoices in a timely manner and in compliance with applicable rules and regulations. AP staff reviews and processes invoices according to the Payables Staff List.
How does Accounts Payable work?
Purchase Orders (POs) / Standing Purchase Orders (SPOs)
Invoices against Purchase Orders (POs), including Standing Purchase Orders (SPOs), are processed in the CU Marketplace and the PeopleSoft Finance System. For small-dollar (up to $10,000) orders, invoices that match are automatically paid. For large-dollar (over $10,000) orders, invoices must match and the departments must do online receiving in the Marketplace in order for the invoices to pay.
Payment Vouchers (PVs)
AP staff audits Payment Vouchers (PVs) in the Marketplace prior to processing (or returning to the department).
Payment Authorization (PA) forms & Non-Employee Reimbursement-International (NRI) forms
Departments submit PA and NRI forms to the PSC (via campus mail or by scan/email to APInvoice@cu.edu). AP staff audits and processes these payments directly in the PeopleSoft Finance System. The warrants may either be sent to the payee or to the requesting department.
Electronic Funds Transfers (EFTs) & Foreign Drafts
As appropriate, departments can request electronic funds transfers or foreign drafts, when payment to an external vendor must be made directly in a bank account or in a non-U.S. currency. Wire Transfers or Foreign Drafts involve additional bank charges that get charged to the requesting department
Warrants that are not redeemed within the designated time frame become stale dated 152 days after issue date. Departments use the Warrant Adjustment (WA) form to request that these or other problematic payments be cancelled and perhaps reissued.
We are Tax Exempt
The University of Colorado, as a public institution of higher education of the State of Colorado, is exempt from all federal excise taxes and from all Colorado State and local government sales and use taxes.