Finance Office

Finance Office Purchase-To-Pay Cycle

Overview Of The Purchase-To-Pay Cycle

This diagram provides an overview of the steps involved in the main purchase to pay cycle. The first and second columns show the steps involved in ordering and confirming receipt of goods and services. The third column indicates the processes required if corrections are to be made and the fourth column shows the steps involved in payment of invoices that are processed in the Finance Office.

Invoice Payment

All supplier invoices must be addressed to Accounts Payable, Finance Office.

All invoices from suppliers should have a valid Purchase Order numbered quoted, this purchase order should be generated prior to the goods/services being ordered and forwarded on to the supplier.

Finance office register each invoice on the Agresso system on receipt and then distribute them to the relevant department for approval ie Goods Received Note.

Once the invoice is approved it should be returned to the Finance Office quoting the GRN where it will be invoice matched for inclusion in the next payment run.

Payment runs are processed twice monthly.

Cheque Requisition Form

This activity covers once off payments to suppliers not on the existing vendors list and any other 3rd party/external payments eg subscriptions, honorarium payments, pro-forma invoice. Each member of staff must get clearance from his/her Head of School or Unit in advance of any purchase.

The requisition form is available on the Finance Office Web page. Every form submitted to the Finance Office must have relevant and independent receipts attached to support the request, a subcostcentre and account code and authorised signature.

The requisition is received in the Finance Office, the contents checked for compliance and authorised as being in accordance with the Units budget.

Cheque runs are processed on a weekly basis in both Euro and Sterling.

Staff Expenses & Travel Re-imbursements

This activity covers payments to staff for reimbursement of expenses incurred during travel on university business and any other incidental claims eg books, stationery. Each member of staff must get clearance from his/her Head of School or Unit in advance of organising a trip or purchase.

CoreExpense the online re-imbursement system for staff is used for claiming back any spends as outlined above.  Each staff member can access the system via this https://www.dcu.ie/pls/corehress/hr_hrw0001_form.display_form by using your Staff ID and a 4 digit pin.  Once a claim is entered and submitted on the system it is forwarded to the selected approver who receives an e-mail notifying them of same.  The claimant must forward copies of relevant receipts to the approver who will then approve the claim online and forward to the Finance Office for payment. Every form submitted to the Finance Office must have relevant and independent receipts attached to support the claim.

All claims should be submitted within one month after the completion of the journey or purchase to which they apply to.

The form is received in the Finance Office, the contents checked for compliance and authorised as being in accordance with the Units budget.

Payments are made on a weekly basis by EFT (Electronic Fund Transfer).

All forms must be submitted to the Finance Office on Tuesday before 12pm to be included in the weekly pay run.

 See Travel and Subsistence section for rates and regulations.

Request for Authorisation to Set Up A New Supplier Account

New Supplier set up restriction

Finance have experienced a substantial increase in requests for payments to new suppliers over the last 12-24 months. This has resulted in;

1. Higher administration costs i.e. Setting up paying and reconciling new suppliers.
2. Multiplicity of supplier for similar products.
3. Legal issues in relation to warranty, ownership, insurance and maintenance are not resolved.
4. Non- compliance with tax regulations in relation to Tax Clearance Certificates and Witholding tax.

Finance Authorisation

Finance will only authorise new suppliers in future if they meet the following criteria:

• Products are not being provided by an existing supplier or products provided at a better value by an alternative supplier.
• Tax affairs of the new supplier are in order.
• Legal and insurance issues in relation to the purchase or provision of service have been adhered to.

Procedures Changes

• Buyers can only send in Request for Authorisation to set up supplier.
• Finance will have to sign off on request.
• Only authorised suppliers will be set up by Accounts payable.
• Please allow 3 days for supplier setup

Foreign Currency Payments

DCU currently uses an online system (Fexco) to purchase bank drafts and bank transfers for foreign currency payments.

All requests for foreign currency payments must be submitted to the Finance office with all the relevant information, backup and authorisation.

Approved payments are then forwarded to Fexco where the draft is drawn up or the transfer completed.

Payments to suppliers are posted directly to the supplier by Fexco and any expense drafts are posted to DCU Finance Office for distribution.

A journal to the General Ledger is made at the end of each month to account for the difference in exchange rates. The difference may be either a gain or loss.

Cheque Signatory Authorisations

Amounts up to and including €1,500 per cheque

On the signature of any one of the following:

• Ms Siobhan Fitzgerald, Finance Manager
• Mr John Kilcoyne, Finance Manager

Amounts up to and including €5,000 per cheque

On the signature of any one of the following:

• Mr Ciaran McGivern, Director of Finance
• Mr Eamonn Cuggy, Financial Controller
• Mr Brendan Gillen, Financial Operations Accountant

Amounts greater than €5,000 and up to and including €65,000 per cheque

On the signature of any one of the following:

• Mr Ciaran McGivern, Director of Finance
• Mr Eamonn Cuggy, Financial Controller
• Mr Brendan Gillen, Financial Operations Accountant
• Professor Brian Mac Craith, President
• Professor Anne Scott, Deputy President
• Mr. Martin Conry, Secretary

Amounts in Excess of €65,000 per cheque

On the signature of any one of the Director of Finance or Secretary together with a designated member of the Governing Authority of the University which includes the President.

• Dr Martin McAleese Chancellor
• Professor Brian MacCraith, President
• Regina Moran, CEO Futijsu Ireland
• Patrick McDevitt President All Hollows College