Accounting Procedures Handbook

12 LIABILITIES III. PROCEDURES 1. ACCOUNTS PAYABLE A. Purchase Orders 1. Enter New Purchase Orders in Data Entry: Purchase Orders are initiated in BusinessPlus by the requesting employee, approved by the department manager, and forwarded to the purchasing department for review and approval. Approval is documented in BusinessPlus through workflow. Once the product is received, the purchase order is updated in BusinessPlus by school or department personnel. 2. Reconciling to the Open Obligations Register: On a periodic basis, the Accounting Manager reconciles the Open Purchase Orders listing to the general ledger. B. Invoice Processing 1. Daily mail is opened by the Administrative Assistant. 2. Accounts Payable Accounting Associate III receives invoices from the Administrative Assistant. 3. The Accounting Associate matches the invoice to a purchase order and enters the invoice information in BusinessPlus. 4. The Accounting Associate creates a batch of invoices to be paid and scans the invoices into BusinessPlus as an electronic attachment to the batch. 5. Once the batch is entered, a batch proof report is printed and verified for accuracy. 6. The batch posting report and the batch proof report are given to the Accounting Manager for approval. 7. The invoices are marked as paid in BusinessPlus C. Processing Checks To process checks: 1. An Easy Laser Form (ELF) is loaded into the computer. 2. Signature card is obtained from its secure location and loaded. 3. Payables batch is selected, and the total balance of the batches selected is agreed to BusinessPlus. A job number and the first check number are shown by BusinessPlus prior to printing. The check number is compared to the last run of checks to ensure the correct check number. D. Credit Card Payments 1. Procurement cards and travel cards are paid automatically via electronic funds transfer from the Board’s general account. 2. The Office Associate II verifies all receipts or other supporting documentation is attached to the procurement card transaction batch. 2. PAYROLL LIABILITIES Please refer to Section 19 Payroll Accounting for more details regarding the payroll accounting process. A. Federal and State Withholdings After payroll run is completed, Payroll Specialist submits the 941 deposit and the Maryland Withholding deposit. B. Other Payroll Deductions