Receipts allow departments to verify that they’ve received the goods or services invoiced prior to paying the bill.
BUY.IU receipts are logged on purchase orders (POs) and act as a way for the department to verify that an invoice should be paid. This is accomplished by logging a receipt for the quantity of goods received or the value of services performed so far.
For example, imagine your department orders 10 office chairs. The first shipment arrives, containing 5 chairs. In this situation, a receipt with a quantity of 5 should be logged on the corresponding PO. This tells BUY.IU that your department only wants to pay for up to 5 office chairs. If the supplier invoices us for more than 5 chairs, BUY.IU prompts the PO Owner to log additional receipts, verifying the increased quantity should be paid.
Generally, purchases that are high dollar and/or high risk require receipts be logged before the invoices will be paid. If you forget to log a receipt within a certain timeframe, the invoice will eventually route to Purchasing, or in the case of subawards, ORA, for review. Staff will not approve the invoice for payment until proper receipts are logged, and in some cases the invoice may be rejected, adding additional processing time.
Logging receipts in a timely manner keeps invoices flowing and helps ensure they are paid on time. It’s imperative that all departments follow receipt procedures, as many of our suppliers have POs with multiple departments. When everyone logs receipts on time, IU’s invoices get paid on time, and we can all do what we need to do.
Visit the Receipts Documentation Library to learn more about when receipts are required, how to log them, and how to locate orders that require them.