Invoices

Purpose: Verify the invoice matches the PO and obtain signatures so AvidCo can pay the invoice.

Boundaries: The process starts when Accounts Payable sends Tech Ops an invoice and ends when Tech Ops submits the invoice packet to signers via DocuSign or to Accounts Payable (when no signatures are required).

Timeline: 1 to 3 days. Invoices processed and signed by end of day Friday are paid in the following week’s check run.

When Accounts Payable sends Tech Ops an invoice, Tech Ops compares it to the quote, PO, and packing slip(s). If they match, Tech Ops sends Accounts Payable an invoice packet (for No Signatures Required invoices), or obtains necessary signatures on the invoice packet.

Instruct vendors to send invoices to accountspayable@AvidCo.com or by mail to HQ, attention Accounts Payable.

Steps for Processing Invoices

  1. Monitor the Invoice mailbox for invoices that have been assigned to you. If you created the PO or have extensive knowledge of the vendor, assign the invoice to yourself.

  2. Rename the invoice. Use the correct filename convention. 

  3. In Zorio, find the purchase order.  Verify that the Status is Received or Partially Received.

  4. Compare the invoice to the PO. Confirm that the description, quantity, and cost match.

  5. For goods, compare the invoice to the packing slip. Confirm that quantities match. For services, confirm with the requester that the vendor completed the service.

  6. In Zorio, enter invoice details for # Received and # Invoiced.

  7. Prepare an invoice packet. Download the quote, the signed PO, packing slips, and any other documentation from Zorio.

  8. Use Acrobat to highlight or add the PO number to the invoice.

  9. In DocuSign, attach in order the invoice, PO, quote, packing slips, and any other documentation.

  10. For each signer, add fields for Approved by, Signature, and Date.

  11. Obtain initials and signatures via DocuSign on the packet. Copy Tech Ops and Accounts Payable. Follow the subject line convention: “Documentation for: [Vendor - INV ##### - PO]

  12. Upload the invoice to Zorio.

  13. Enter a note with invoice details and actions as shown below. If processing multiple invoices for a single PO, treat each invoice separately. Enter a note for each one. In the note, show the sum invoiced to date.

  14. In Outlook, move the email to the Submitted folder.

Processing Invoices – No Signatures Required

Qualifying invoices are for purchase orders for goods, with a value of less than $5K, with a packing slip that proves AvidCo received the items. Invoices that don’t fulfill these criteria require signatures.

Follow the steps for processing invoices. Use DocuSign to send the invoice packet to Accounts Payable. Copy Tech Ops.

PO Reconcile to Invoice

If the invoice is for an amount greater than or less than the PO, first reconcile the PO to the invoice. Then, process the invoice.

  1. In Zorio, change Status to PO Reconcile. Save.

  2. Edit item Qty, Description, and Unit Cost to match the invoice. Save.

  3. Enter a note with PO Reconcile details. Why is the cost greater or less than the PO? (e.g., shipping cost is less than quote, service provided is for more hours than quote.) Save.

  4. Next, use Acrobat to strike the incorrect figures and enter the new figures on the signed PO. Add a text block: Revised Total Due, and the amount.

  5. Continue with the standard process. In DocuSign, add initial fields for signers. Signers will initial their approval of the previously signed and now reconciled-to-invoice purchase order.

  6. If the cost is less than the original PO, approval signatures aren’t necessary.

  7. Respond to Accounts Payable requests. They may ask for a vendor’s W-9 form, an amended or revised invoice, a credit memo, vendor contact information, or additional back-up documentation.

Alternative Packing Slips

Sometimes goods arrive at AvidCo without a packing slip. Acceptable alternatives are a receipt, or an email or Zorio note from the requester which states that the goods arrived. Save it in .pdf format, name it with the filename convention “PS-PO XXXXX” and attach it to the PO.

Exceptions

Occasionally an invoice for a service can be processed without a quote (for an emergent circumstance, like a vehicle failure). In this case, prepare a purchase order as per usual. Annotate the invoice to cite the service agreement. Obtain signatures and initials as you would for a quote from the vendor.