IU Financial System Reports and Procedures
Click to review the below IU financial system reports and procedures related to accounts payable:
BUY.IU Aging Report and Instructions
The BUY.IU aging report tracks the suppliers an IU entity owes money to, how much is owed, and how long the entity has owed the debt. The balance shown on the aging report represents unpaid purchases that a department, RC, or campus has made to operate a specific activity. Running the BUY.IU aging report regularly ensures invoices are approved timely. The report ensures payment is made to the correct suppliers. The report helps ensure the integrity of the liability section of the university’s balance sheet. Review the BUY.IU aging report instructions prior to running the report. Both the instructions and the report itself can be found by clicking the below links:
BUY.IU Year-end AP Accrual Detail Report and Instructions
The BUY.IU year-end AP accrual report was created to identify the accounts payable (AP) invoices that were included in the automatic accounts payable accrual process. It is also designed to assist fiscal officers in determining if all material expenses have been properly recorded in the correct period. Ensuring the correct recording of liability balances helps in presenting materially correct financial statements which are used both internally and externally. Review the BUY.IU year-end AP accrual report instructions prior to running the report. Both the instructions and the report itself can be found by clicking the below links:
PO/Invoice Inquiry
The above link takes the user to the Financial Management System (FMS) PO/invoice query. This query is designed to provide details about the status of payment on a purchase order (PO) or invoice. This search function will pull corresponding data for any invoice entered within the last year. The data is current as of the prior business day.
Disbursement Number Inquiry
The above link takes the user to the Financial Management System (FMS) disbursement number query. This query is designed to provide additional details about payments from IU. In order to review this information, the user must know the check, ACH/Direct Deposit, or PaymentPlus transfer number received from IU. This search function will pull corresponding data for any disbursement entered within the last year. The data is current as of the prior business day.