NORTH CAROLINA AGRICULTURAL
AND TECHNICAL STATE UNIVERSITY
DIVISION OF BUSINESS
AND FINANCE
OFFICE OF THE COMPTROLLER
UNIVERSITY ACCOUNTING
OFFICE
PREPAID ORDERS AND ADVANCE PAYMENTS
State law requires that materials, goods, supplies, or
services be received before payment can be made. Therefore, advance payments
cannot be made except as indicated below.
If advance payment is required, an approved purchase requisition
must be accompanied by either an invoice or an order form from the vendor.
The requisition, accurately reflecting all related charges including shipping
and handling, is sent to the Purchasing Office. A check request is issued
and processed in Accounts Payable. General Accounting then draws the check
and sends it with the order to the specified vendor. Upon request, the
check may be returned to the department for special handling. (Please note
special handling and the date needed on the purchase request.)
In the event that an emergency situation arises wherein
a specific product can only be obtained locally from a vendor who will
not accept a purchase order, the University Accounting Office will, with
properly approved purchase request and pro-forma invoice, prepare a check
for the vendor. This check must be picked up by the departmental representative
who will purchase the product. The departmental representative must sign
a Receipt of Prepayment form which authorizes the Payroll Dept. to withhold
their pay check until a vendor receipt is delivered to the Accounting Office,
with any overage reimbursed to the University as documented by a University
Cashier's receipt.
It is highly recommended in these situations that the
individual seek a vendor who will accept a University purchase order, or
utilize their own funds (cash or credit card) and either obtain immediate
reimbursement following the University Imprest Cash policy (if under $50)
or submit a purchase request authorizing a reimbursement check.
See also: