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#Purchase orders and invoices how to

the invoice for these goods and/or services is accurate with respect to items, quantities and prices, and.

the buying department is satisfied with the goods and/or services,.

the goods and/or services have been received,.

The preconditions for issuing payment to a supplier for goods and services are: Invoice Amount Exceeds Purchase Order Amount This section deals with those purchases where a purchase order is required, resulting in a purchase order related invoice from the supplier.Īuthorizing Purchase Order Related Payments

#Purchase orders and invoices how to

See How to Purchase Goods and Services on the Procurement Services website which shows the options and requirements available based on the amount of the transaction to comply with U of T’s Procurement Policy.

For more information on internal purchase/sale transactions, refer to the section Internal Revenues and Internal Expense Recoveries. An exception to this would be purchases from MedStore where the purchasing card may be used. Note: Any internal University of Toronto-related purchases will be processed via the internal revenue and expense recovery transaction in FIS by the buying department. Use your Imprest Bank Account for purchases up to $500.Use your Petty Cash fund for purchases up to $100.Place your order with the vendor and request an invoice for payment (see Certified Invoices).( Note: This type of purchase order will not be reflected in FIS through the normal purchase order process) For purchases of goods and services under $10,000, you have the following options: Please refer to How to Purchase Goods and Services.A purchase order is required for goods and services of $10,000 or more. The purchase of goods and services at the University of Toronto can be made using a number of different methods, depending on the type of purchase and the value. Updates and Changes to the Guide to Financial Management.Records Management - Payments to Vendors.Payments to Hospitals or Other Institutions to Recover Costs.Payments Associated with Contractual Agreements.Payments Without Invoices Processed Through FIS.

Investment, Internal Financing and Loans.