🎯 Will It Hit This Fiscal Year? The Four-Step “Payable” Test
It’s the question we hear more than any other this time of year: “How do I make sure this hits the current fiscal year?” The answer isn’t “send the invoice early” or “submit the req in May.” It’s a four-step chain — and every link has to connect by the deadline on the Year-End Calendar. […]
Receiving in RealSource: A Small Step That Makes a Big Difference 📦
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 […]
Keeping POs Clean: Best Practices in RealSource
We’ve all been there: you’re reviewing your department’s accounts and notice a lingering $1.50 balance on a closed PO from an early payment discount, or you realize an index code was entered incorrectly on a line that has already been paid. In the procurement world, we call the practice of keeping these records accurate and […]
Timely Receiving: Keep Payments Moving (and Capture Discounts)
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 […]
Streamlining Our Invoicing Process: Important Guidelines for Smooth Transactions
As part of our ongoing efforts to enhance our invoicing process, we’d like to share a few essential guidelines that will help ensure a seamless and efficient handling of your invoices. 1. Remember to Include the PO# on Your Invoices When you submit your invoices to [email protected], it’s crucial to include the Purchase Order (PO) […]
Make a List and Check It Twice: Receipt Notifications
Processing your receipts promptly ensures that payments are made accordingly before the winter break. This helps avoid any delays or issues that could arise from unprocessed receipts during the holiday season. Check Notifications: Log in to RealSource and review your receipt notifications. Process Promptly: Handle all receipts as soon as you receive them. Stay Organized: […]
