What's Changing with Receipts and Invoices?
Current State
Faculty/staff enter requisitions in Banner for purchases greater than $5,000 or purchases from an individual (regardless of amount). For purchases from a company of less than $5,000 faculty/staff either use their P card or order directly from the company and send the invoice to Accounts Payable (AP). Accounts Payable enters the invoice into OnBase and the department provides the FOAP and approval in OnBase.
Future State
All purchases regardless of amount or individual/company will begin by entering a requisition in Workday. Once the requisition is created, a purchase order (PO) is also created. Employees will need to create a receipt in Workday, and the invoice will automatically match with the PO and receipt.
Who is Impacted?
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Faculty/staff who make purchases and approve invoices must create requisitions and receipts.
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Suppliers will have multiple ways to submit invoices (email, possible direct ‘connect to supplier,’ Supplier Portal later in 2024)
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Accounts Payable will be reviewing exceptions
Benefits
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Workday uses optical character recognition (OCR) to read supplier invoices, meaning minimal invoice data entry.
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Workday also uses a match process that matches the PO, Receipt and invoice. If there is a match, the invoice pays automatically.
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Faculty/staff will no longer need to enter the same information twice at the ordering and payment stages
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Workday allows fewer touches of the invoice. This is a more efficient use of GVSU staff time and improves accuracy in invoice processing.
Potential Challenges
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Creating receipts may feel like an extra step, but it is replacing invoice approval.
Other Important Information
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Receipts and invoices are a part of the Purchase-to-Pay (P2P) process. More information on sourcing and requisitions will be available on separate change guides.
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OnBase will no longer be used for invoice approvals.
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If there is not an invoice/PO/receipt match, AP reviews the exception and will connect with the department as needed.
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Learn more about Receipts and Invoices
Contact
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Erica Herwig, Assistant Controller AP and Finance Systems
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Heather White, Assistant Director of Procurement