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Accounts Payable
Policies and Procedures
CONTENTS
GENERAL
APPROVALS
TAX CONSIDERATIONS
Guidelines for auditing incoming requests for payment.
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Each invoice is to have a completed voucher tag.
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Only original documentation will be accepted as back up for payment. Accounts Payable management must approve any exception.
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Invoices are to be billed to Southern Methodist University; third party invoices will not be paid with University funds.
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Check requests are to have original signed signatures.
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Financial Officers are responsible for providing of individuals with a list of names authorized to sign payment requests.
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Signatures must be legible to be processed. Some schools and departments use a stamp that prints the individual's name, department and phone number for better identification.
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Check requests must have original back up documentation that confirms the requested payment is a legal liability of the University.
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Please include a contact phone number on all payment requests so that the A/P department personnel can contact someone in case of a problem. Some signatures are difficult to read, and there are a lot of names that are not listed in the phone directory.
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All contracts must be approved by legal, and signed by an officer of the University.
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The President must approve all donations to other non-profits.
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Gifts to friends of the University must be approved by the President, a vice president, dean or athletic director and reviewed by the Vice President for Business and Finance staff to ensure appropriate tax treatment.
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All capital acquisitions and charges to account number 82XX must be approved by Asset Management.
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All charges to a "G" project number must have Grants and Contracts approval before payment can be made.
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The Payroll Department must approve all payments for relocation.
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The President, a vice president, dean, or athletic director must approve floral arrangements and sympathy cards.
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Payments or reimbursement of memberships and dues must be approved by the President, a vice president, dean, or athletic director.
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Southern Methodist University is a Non-Profit Educational Institution and exempt from Texas Sales and Use Tax for supply purchases pursuant to the exempt purpose of the University.
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Hotel Occupancy Tax Exemption Certificates should be completed and submitted for in-state hotel accommodations.
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All entertainment expense including business meals must have documentation that lists the date, names of persons attending, and states the business purpose of the entertainment.
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First time invoices for services: payable to individuals, doctors, dentists, lawyers or other professional organizations must have an IRS form number W-9 attached.
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The Check Request form is used only when an invoice is not available. This includes registration fees, order forms, and student stipends. Proper documentation must be attached.
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The Payroll Department is responsible for all payments to international persons, ensuring the University is in compliance with tax requirements.
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Extra compensation to employees is to be paid by the Payroll Department.
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Payments to individuals are to be made payable to the legal name, (as shown on the social security card), not to a nickname or alias.
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Payment of awards to students does not require an IRS W-9 form. However, include the Social Security Number and home address on the Check Request.
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Stipend payments are considered financial aid to currently enrolled SMU students, there is no work requirement.
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The Risk Management Department must approve the use of all transportation companies prior to use and payment.
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Payments will not be made from statements that list past due invoices; invoices are required.
