Procurement Policies and Procedures
Negative Assurance of a Receipt
Negative Assurance of Receipt
To adequately document the policy for matching payment documents in the accounts payable / disbursement process for approving payments to vendors.
Clemson University requires either a Two-way or Three-way match take place to make a payment to vendors. The following outlines the matching requirements:
Two-way Match - This match normally consists of an Invoice amount matching with the received amount. This commonly takes place via the "DPV" process for non CU business unit payments made outside of buyWays, as well as through the p-card process (by signing the monthly statements, activity reports or individual invoices/receipts).
Three-way Match - This match consists of a Purchase Order (PO) amount, Invoice amount, and Receipt amount all matching. This process is required for all payments made through buyWays.
Negative Approval of a Receipt - An alternative to the Three-way match takes place when the amount on a PO matches the Invoice amount of $2500 or less, in which case a buyWays notification is sent to the shopper notifying them that an invoice has been submitted and will be processed for payment unless they notify Disbursements within 5 days, thus not requiring the actual receipt process to be completed. This process is set based on the relatively low risk versus the effort to create/document a receipt.
Receipt / Receiving - this is the acknowledgement that either a good that has been physically received, is what was ordered, and is in working condition, or that a service has been completed and accepted and that it is "okay to pay" a vendor. In the instance of services or payments for a non-physical good, a receipt is simply the acknowledgement by the individual conducting the receipt that it is "okay to pay" the vendor.