Accounting Policies (APPR14)
Accounting Procedures
PROCEDURE TITLE: | Nebraska Nonresident Withholding | PROCEDURE NUMBER: | APPR 14 |
RELATED POLICY STATEMENT(S): | |||
DATE ISSUED: | December 30, 1988 | DATE REVISED: | January, 2000 |
OVERVIEW
This procedure enables the University to take advantage of all applicable credit memos at the earliest possible date by reducing the next batch check to the vendor.
REQUIRED FORM(S)
Invoice Approval Form (IAF)
PROCESSING STEPS
For credit memos of $500 or greater, an IAF ("Goldenrod") will be attached to the credit memo and copies of both documents will be sent to the appropriate department contact for review (see APPR 02). The IAF will have the scheduled payment date noted on it. If the related invoice was previously returned to the Controller's Office requesting payment be held, return the credit memo with instructions to Accounts Payable to release the original invoice from "hold" status. Credit memos less than $500 will be processed directly by the Controller's Office upon receipt.
In cases in which copies of an IAF with an invoice have been sent to a department for review and the department is expecting a credit memo offsetting some or all of the invoice, the department should note on the IAF the expectation of the credit memo and return to the Controller's Office.
