VCU Procurement Services

Early Payment Discounts (EPDs) help VCU stretch its purchasing dollars by allowing certain vendors to accept slightly reduced payments in exchange for faster payment than the standard 35-day terms. The program usually runs smoothly, but questions often arise during vendor transitions—when a vendor is added to or removed from the program. EPD terms follow the […]

System receiving in RealSource is more than just a formality—it confirms that goods or services have actually been delivered before payment is released. When receiving is delayed, payments often stall, which can affect vendor relationships and cash flow. Why it matters: Timely system receiving supports Early Payment Discounts (EPD) and ensures compliance with the Prompt […]

Completing receiving in RealSource as soon as goods arrive or services are performed is one of the easiest ways to prevent invoice delays. If receiving isn’t completed, invoices may be unable to process for payment—even when everything else is correct. Why it matters Timely receiving helps VCU: Common myths (and the facts) Myth Fact “I […]

Searching made easy! The RealSource Search feature is designed to help you quickly find and manage your purchase orders. With five pre-built searches—like Open POs, Discounts Requiring a Receipt, and Invoices Requiring Receipts—you can narrow your focus and find the exact info you need. Just use the orders icon and filter by department to make […]