Accounts Payable Payment Process

TABLE OF CONTENTS

• Purpose Of This Document
• What We Expect From Our Internal Stakeholders (PO Owners)
• Payment Timeline

Purpose Of This Document

To provide a clear timeline of when invoices, (including urgent business critical payments),  need to be received by the Accounts Payable Team to ensure that they are paid within the payment terms as set out in Coupa.

What We Expect From Our Internal Stakeholders (PO Owners)

All invoices MUST be sent to Accounts via email to accounts@checkout.com for Accounts Payable to be able to process the invoice. Simply adding the invoice to a requisition and Purchase Order in Coupa will NOT notify Accounts Payable that there is an invoice that requires processing against a Purchase Order in Coupa.   Can we ask you to actively encourage suppliers to send invoices directly to accounts@checkout.com quoting the Purchase Order number on the face of the invoice?

The Purchase Order should be receipted in Coupa to enable the Accounts Payable Team to process the invoice.  If the Purchase Order is not receipted then the invoice will not flow into Workday and be available for Accounts Payable to pay.   Please note Purchase Orders should only be receipted once the goods or service has been provided or the invoice is an advance payment and the supplier will not release the goods or service until payment has been received.  

The receipt of the Purchase Order is critical because without this step the invoice will not flow from Coupa into Workday, and Workday is where the payment runs are created.   In addition to this, the Accounts Payable Team need to provide Treasury accurate funding requests a week in advance so any last-minute payment requests that are of a significant $ value could be rejected and deferred to the following week's payment run.

Any invoices that need to be paid the same week will have to be sent to accounts@checkout.com by 12 midday UK time on Monday. Please state in the subject line that this is an urgent payment request. As previously noted the Purchase Order must be receipted.  Accounts Payable cannot add this to that week's payment run if the Purchase Order is not fully approved and received.

Anything sent to Accounts after 12 midday UK time on Monday will be paid the following week (if the invoice is due).

Payment Timeline

Monday - Payment runs are created from 12 midday UK time

Tuesday - Payments runs are reviewed by Accounts Payable and sent for final approval by COB.

Wednesday - Final review/approval by COB payment files are sent to the bank, and remittance advice is sent to all suppliers.

Friday - Payments will be released from the bank to the supplier.

If you have any questions, please contact accounts@checkout.com for more information.