Accounts Payable 2: Voucher Entry and Maintenance Entry Overview

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• Accounts Payable 2 Voucher Entry and
  Maintenance Entry Overview

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Objectives

• Define terms
• Provide a general flow of the Accounts Payable
  lifecycle
• Introduce statuses used during the Accounts
  Payable (Voucher Entry) lifecycle

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Definitions

• Voucher a pay-out record, an electronic version
  of the invoice
• Vendor -- a supplier of goods or services.
• Matching a way of ensuring that a purchases
  invoice number, quantity and amount are exactly
  duplicated in
• Purchase Order
• Receipt (if required)
• Voucher
• Inspection document (if required)

Used only when the voucher is based off of a PO
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Definitions (contd)

• Bi-lateral Netting an inter-agency payment
• Budget-check ensures money is available to pay
  voucher
• Tolerance range a few cents/dollars or
  percentage points above or below the amounts and
  quantities on the PO. Allows slightly inexact
  quantities and amounts on vouchers to match POs
  and PO Receipts.

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Accounts Payable Lifecycle
Step 5
Step 7
Step 2
Step 3
Payables data enters AP from
Voucher Posting
Posted to GL
Budget Checking
Matching
Purchasing (POs)
Step 6
Step 1
Manual
Step 4
Manual
Manual or via batch
Manual or via batch
Submit for Approval
Voucher Creation
Approved
Accounts Receivable (Receipts)
Through batch
Through batch
from PO or Receipt, Direct Entry, or the
Voucher Build Process
Payment created and Issued
Budget Checking
Matching
Agency-interfaces from subsystems
Step 8
Legend
Manual
If errors are encountered, correction is
required before the voucher moves forward in the
process
SWIFT process
Only if PO-based
AP Lifecycle
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General AP Facts

• Only one voucher/payment per invoice number is
  allowed.
• If foreign currency is required (should happen
  rarely), this conversion must be done at the
  payment level.
• All vouchers must be matched (if they originate
  from a PO) and budget-checked.
• AP clerks have access to Commitment Control to
  check budget amounts available.
• If budget-check or matching errors exist, the
  voucher does not move forward in the pay cycle
  until errors are fixed.
• All vouchers are submitted for approval.
• Vouchers are not paid until after they are
  approved.

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General AP Facts (contd)

• After vouchers are submitted, the AP Voucher
  Posting Process prepares accounting entries to
  send to the General Ledger.
• Once the voucher has been approved, accounting
  entries are posted to the General Ledger.

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Voucher Error Checking

• After saving, SWIFT performs limited error
  checking.
• Errors may also surface after Matching or
  Budget-checking.
• Check for errors on the Summary tab (shows only
  after voucher is saved).
• Vouchers display different statuses according to
  where they are in the Voucher Lifecycle.

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5 Voucher Statuses to Check for Errors

• Entry Status
• Match Status
• Approval Status
• Post Status
• Budget Status

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Entry Status Types and Meanings

• When saving a voucher, SWIFT performs several
  edits and validations. They are listed in the
  UPK.
• When critical validations are not correct, SWIFT
  does not allow the voucher to be saved until the
  errors are corrected.
• If non-essential errors exist, SWIFT allows the
  voucher to be saved but no accounting entries
  created via the Voucher Posting Process.

Definition Options Meanings
Condition during or immediately after data input and saving Open Not saved yet
Condition during or immediately after data input and saving Postable Saved with no errors
Condition during or immediately after data input and saving Posted Accounting entries created
Condition during or immediately after data input and saving Recycle Errors exist but saved
Condition during or immediately after data input and saving Reject Errors exist, not saved
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Match Statuses and Meanings

• While Matching, SWIFT looks for the PO and/or PO
  Receipt identified.
• Compares PO number, quantities and amounts on
  voucher to existing PO and PO Receipt records
  then matches if.
• Voucher quantities and amounts fall within
  established tolerance ranges.

Definition Options Meanings
Whether voucher duplicates quantities and amounts listed on PO and PO Receipt (if required) No Match Not a PO-based voucher, direct entry
Whether voucher duplicates quantities and amounts listed on PO and PO Receipt (if required) Ready/To Be Matched Available for processing
Whether voucher duplicates quantities and amounts listed on PO and PO Receipt (if required) Matched Amounts and quantities affirmed
Whether voucher duplicates quantities and amounts listed on PO and PO Receipt (if required) Exceptions Errors exist resolution required
Whether voucher duplicates quantities and amounts listed on PO and PO Receipt (if required) Rejected Not available for payment
Whether voucher duplicates quantities and amounts listed on PO and PO Receipt (if required) Manually Overridden Makes voucher available to be paid
Whether voucher duplicates quantities and amounts listed on PO and PO Receipt (if required) Match Dispute Assigned via Match Workbench holds payment til issues resolved
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Approval Status and Meanings

• All vouchers must be submitted for approval.
  Vouchers with 3-way matches do not require
  approval. They must, however, move through the
  same processes that follow approval, so they are
  submitted too.
• Three-way matches are made up of the PO, PO
  Receipt and the voucher.
• Approvers are dictated by your agency.
• There are up to 4 levels of approval possible,
  depending on the amount of purchase.

Definition Options Meanings
Whether or not purchase payment is authorized Pending Not yet approved
Whether or not purchase payment is authorized Approved Voucher may be paid
Whether or not purchase payment is authorized Denied Voucher may not be paid
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Post Statuses and Meanings

• This status pertains to the Voucher Posting
  Process that creates accounting entries ready to
  be moved to the General Ledger.
• Moving accounting entries to the GL occurs after
  the voucher has been approved.

Definition Options Meanings
Whether or not accounting entries have been created for the voucher transaction and are ready to move to the GL Not Posted No accounting entries created
Whether or not accounting entries have been created for the voucher transaction and are ready to move to the GL Posted Accounting entries are created and ready to move to the GL
Whether or not accounting entries have been created for the voucher transaction and are ready to move to the GL Unposted Once posted but unposted for error correction.
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Budget Status and Meanings

• Budget Status ensures that funds are available to
  pay the voucher.
• All vouchers styles (except Template) must be
  budget-checked.

Definition Options Meanings
Whether or not budget associated with the identified Chartfield string contains funds to pay for the voucher Not Chkd Budget check has not been done for the voucher
Whether or not budget associated with the identified Chartfield string contains funds to pay for the voucher Valid Budget check is complete, and funds are available to pay the voucher.
Whether or not budget associated with the identified Chartfield string contains funds to pay for the voucher Error/ Exceptions Budget check has completed showing errors.
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Voucher Styles

• Voucher Style is a field on the Add a New Value
  tab for Voucher Entry.
• It lists different kinds of vouchers available
  through SWIFT.
• Regular Entry is the type used for Direct Entry
  (non-PO) and PO-based vouchers. This is the
  default for the field.
• Regular Entry is used to create normal payments.

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Other Voucher Style Choices
These are specialty vouchers, used only for
specific purposes listed below.
Voucher Style Description/Purpose
Journal Error correction use when the payment was applied to the wrong Chartfield/string. OR Inter-departmental payments within an agency.
Template Create a basic framework for a recurring payment like rent, utilities, etc. or for installment payments.
Third Party Select when shipping, insurance, etc. was tacked on to the original PO.
Single Payment One-time claim or refund payments vendor information must be input on the page prior to the Invoice Information page.

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Next

• Its time to see how to enter a voucher.