Marketplace Invoice

Process

Presented by Kristin Atlantic & Maura Arias

The Marketplace Invoice Process

In this session, our intent is to familiarize you with procedures relating to invoice process and payments for Marketplace purchase orders.

We will highlight: • PO – Invoice instructions

• E-Invoicing versus paper

• Marketplace settlement module

• Department responsibility

• workflow folders

• approval process

PO – Invoicing Instructions

E-Invoicing vs. Paper Invoices

There are currently two billing options in Marketplace: Electronically (cXML) - when a supplier directly transmits

invoice data electronically to UCSD, this is referred to as e-invoicing and is designated by an in Marketplace.

- Email is not a form of electronic invoicing Paper - a supplier submits the invoice by US mail directly to

Disbursements as guided by the instructions on the PO.

Marketplace settlement module

Header Level Info

• Remittance address • Payment terms & how

they are calculated • Internal Notes– how

and when to use them

Marketplace settlement module Line item detail

An encumbrance related to a Marketplace transaction is

created for each individual line item on the purchase order. The encumbrance lifts when an invoice is processed against

a purchase order. The encumbrance lifts for each individual line item on the

PO. Once the full quantity ordered on a given PO line item has

been invoiced, the entire encumbrance for that line lifts (no remaining balances).

If the full amount has not been invoiced on the PO line, the encumbrance lifts based on the invoiced dollar amount of the line.

Marketplace settlement module

Encumbrance Tip

When creating a Marketplace Requisition for goods and services that will have multiple invoices make sure the quantity is greater than 1.

If the quantity is not greater than 1, the entire encumbrance will lift after the first invoice is paid.

For more information on this topic visit: http://blink.ucsd.edu/buy-pay/ways/marketplace/encumbrance-logic.html

Marketplace settlement module

Department responsibility Reconciliation

Disbursements processes payment to suppliers by matching the invoices received to the Purchase Order and ensures payments are made within agreed terms. However, departments are responsible for verifying the charges on their ledger and contacting the supplier in case of discrepancies.

Invoice approval Business unit approvers are responsible for reviewing and certifying invoices of $10,000 or more. This approval ensures that 1) services have been rendered 2) goods purchased have been received

Responding to Notifications Business unit approvers receive an out of tolerance notification when an invoice is processed over 20% of the amount of the PO or line item total and are responsible for notifying Disbursements if there is a discrepancy.

Invoice Related Resources Invoice Lookup Tool – Has your invoice been received?

FinancialLink>Transactions>Procurement & Payment Transactions> Invoice Lookup Tool

Invoice Related Resources Marketplace -Has your invoice been processed?

Marketplace> Search your Purchase Order> Look under “Invoices” Tab

Invoice Related Resources FinancialLink - Was the payment amount correct?

Purchase Order Report

Ledger transactions

Invoice Related Resources BFSupport - BFSupport.ucsd.edu

Billing errors Payment issues

Any questions?