Accounts Payable

Provides a timely and accurate expenditure of School funds.

 

Accounts Payable Services Provided

  • UK Supplier Payments
  • UK Self-Employed Payments-SCH-D Status (see UK Suppliers)
  • Foreign Supplier Payments
  • Staff Expense Claims
  • Non-Staff Expense Claims (Payment Request Form)
  • Travel Advance Payments (see Staff Expense Claims - GBP only)
  • Purchasing Cards  (Barclaycard Spend Management)
  • Accounts Payable Customer Service  (IssueTrak)
  • Research Project Expenditure

 

UK Supplier Payments 

Policy

Ensure that any purchase of goods or services comply with the Schools Financial Regulations and Procurement procedures, using the School’s preferred suppliers wherever possible.

Procedure

All supplier invoices need to be budget coded and signed by an Authorised Signatory or Budget Controller before it can be processed for payment.

Supplier Invoices sent directly to the Accounts Payable ( AP ) Office by the suppliers will be routed to the relevant department (given the necessary contact details) or referred back to the supplier for further information.

UK self-employed payment (Schedule D status) requests need to be routed to the Payroll section before AP can process.

It is the School’s policy to settle supplier invoices by BACS only. The issue of cheques for suppliers is currently being phased out.

Research Project expenditure governed by Research Division: After supplier invoices are budget coded and approved by a Budget Controller or Signatory they must be routed to the Research Finance office, or emailed to research.division@lse.ac.uk for a 2nd level approval. Research Finance will then submit  approved invoices to AP for processing and payment. Invoices received by AP without the Research Division stamp of approval will be returned to sender.  

Timetable

The general timetable for payment runs are as follows (this will vary for School and Bank Holiday breaks): 

  • Invoices received in the AP Office by close on a Wednesday will be processed for payment in the Core payment run within 14 working days.
  • Core payment run (which includes UK suppliers, Foreign Suppliers and Staff expenses) is every Tuesday.
  • Suppliers can expect to receive payment 72 hours after the payment run date. (See timetable here).
  •       New suppliers can take up to 10 working days to set up on the Finance System (Aptos) and may therefore extent the time of settlement.

    ·   Self-employed individual payments are subject to HR approval which may result in a slight delay in making payment.

For more information

Foreign Supplier Payments

Policy

Ensure that any purchase of goods or services comply with the Schools Financial Regulations and Procurement procedures, including international regulations.

Procedure

All supplier invoices need to be budget coded and signed by an Authorised Signatory or Budget Controller before it can be processed for payment.

Invoices sent directly to the Accounts Payable (AP) Office by the suppliers will be routed to the relevant department (given the necessary contact details) or referred back to the supplier for further information.

All foreign payments are sent by Wire Transfer. Full international bank account details including SWIFT Code, Bank Address, Account Currency and Routing Numbers must be provided when submitting invoices and payment requests.

Research Project expenditure governed by Research Division: After supplier invoices are budget coded and approved by a Budget Controller or Signatory they must be routed to the Research Finance office, or emailed to research.division@lse.ac.uk for a 2nd level approval. Research Finance will then submit approved documents to AP for processing and payment. Invoices received by AP without the Research Division stamp of approval will be returned to sender.  

Timetable

The general timetable for payment runs are as follows (this will vary for School and Bank Holiday breaks): 

  • Invoices received in the AP Office by close on a Wednesday will be processed for payment in the Core payment run within 14 working days.
  • Core payment run (which includes UK Suppliers, Foreign Suppliers and Staff expenses) is every Tuesday - although payment is sent on a Tuesday you should allow upto 10 working days for funds to credit subject to the Country and Currency.

New Foreign suppliers can take up to 10 working days to set up on the Finance System (Aptos) and may therefore extend the time of settlement. 

In addition, Foreign suppliers are also set up on our FX provider’s system (CMG). It is important to note that it takes 48 hours for any changes to supplier details to become effective in the CMG system.

For more information

Staff Expense Claims

Policy

Ensure that any travel and expense claims comply with the Schools Financial Regulations and Procurement procedures, including Travel and Accommodation guidelines. The use of the School’s selected Travel Management company (Diversity Travel) is highly recommended.

Please follow the link for travel, accommodation and subsistence guidelines.  

It is the School’s policy to settle expense by BACS transfer directly to the claimant’s bank account.

Procedure

Claimant must complete the School’s expense claim form and attach supporting  receipts (preferably VAT receipts). The form must be duly budget coded and signed by an Authorised Signatory or Budget Controller before it can be processed for payment.

Non-Staff Expense claims and Travel Advances should be submitted to AP using the Payment Request Form.

Research Project expenditure governed by Research Division: After staff expense claims are approved by a Budget Controller or Signatory they must be routed to the Research Finance office or emailed to research.division@lse.ac.uk for a 2nd Level approval. Research Finance will then submit approved documents to AP for processing and payment. Staff expense claims received by AP without the Research Division stamp of approval will be returned to sender.  

The LSE staff online Expense Claim Form can be located through your Start menu in Windows. 

PLEASE NOTE: You will require a UNITe log-in (same as a Statements5 log-in).

If you do not have a username, please email Aptos@lse.ac.uk and provide the following information:

  • Your full name
  • Your department
  • Your LSE username
  • Your LSE ID number 

Timetable

The general timetable for payment runs are as follows (this will vary for School and Bank Holiday breaks): 

  • Claims received in the AP Office by close on a Wednesday will be processed for payment in the Core payment run within 14 working days.
  • Core payment run (which includes UK Suppliers, Foreign Suppliers and Staff expenses) is every Tuesday.
  • Claimants can expect to receive payment 72 hours after the payment run date.

(See timetable here).

 

For more information

New Suppliers

Policy

Please consult the Procurement webpage for the list of preferred and approved suppliers before entering into agreement with new suppliers.

Procedure 

The supplier set up details template can be located through your Start menu on your PC in Windows. Please follow the path outlined below:

  • Start menu button
  • All Programs
  • Administrative Applications
  • Aptos Reports
  • Finance Menu 

Timetable

  • It can take up to 10 working days to set up a new UK supplier in Aptos.
  • For Foreign Suppliers please ensure the following is included on the Payment Request Form / Invoice prior to setup - Account Name, Account Number, SWIFT Code, Bank Address and Routing Numbers to avoid any delays with setup.

AP Customer Service - IssueTrak - Service Level Agreement

 Accounts Payable Customer Service

Accounts Payable consists two teams:

Operations - dealing with processing of payments

Customer Service - dealing with foreign payments, payment query management, Barclaycard Spend Managment ( Purchasing Cards) and AP webpage maintenance.

IssueTrak

The query management software used is IssueTrak. Queries can be emailed directly to Lse.Finance.Payments@lse.ac.uk . The issue is logged in IssueTrak and the submitter is immediately notified by email. New users will also be emailed login and password details to be able to view the status of their issues.

For more information refer to the IssueTrak Userguide

Service Level Agreement

Action

Time Frame 

Office Hours

9am – 5pm

Visiting Hours

11am- 3pm

Set up of new suppliers (vendors)

Within 10 working days of receipt

Register on Aptos all transactions

Within 3 working days of receipt

First time response on IssueTrak

Within 2 clear working days

All queries are to be logged in the IssueTrak portal or sent directly to Lse.finance.payments@lse.ac.uk

Resolve Queries or Issues  submitted  on IssueTrak

Within 5 working days

Where responses are awaited from 3rd parties weekly updates will be provided

Escalation Rules

Unresolved queries over 5 working days old will escalate to Head of AP for further action.

Unresolved queries over 12 working days old will escalate to Head of Financial Operations.

 Unresolved queries over 30 working days old will escalate to the Finance Director

Corporate Purchasing Cards

Policy

Barclaycard is the School’s Purchasing Card (Pcard) which available to staff members that have regular business travel and procurement responsibilities.

Cardholders should abide by the School’s Financial Regulations, Procurement Guidelines and the Purchasing Card Procedures. 

For instance:

  • Cardholders are expected to use the Pcard for legitimate business transactions  which adhere to the Schools Financial Regulations and Procurement Guidelines.
  • Pcard should not be used where the School has an ongoing contract with a Preferred supplier (e.g. Diversity Travel; Office Depot - Refer to the Procurement webpage for the list of Preferred Suppliers).
  • All computer related purchases over £200 must be procured through IMT Purchasing .
  • Pcard should not be used for multiple purchases with one supplier where the cumulative amount may breach the £8,000 threshold for competitive tendering. (Please refer to the Procurement webpage for further details). 

    Note: Pcard transactions should not be split in order to avoid the £8,000 threshold stated above.

  • Cardholder should adhere to the transaction limits set . Purchases should not be split in order to circumvent the transaction limit set. Contact the Purchase Card Administrator to arrange temporary increase. Email: Financedivision.Pcardadmin@lse.ac.uk

Attempts to purchase blocked merchant categories will be declined. The blocked categories are:-  

Cash Withdrawal

Vehicle rental

Automotive fuel

Vechcle Servicing and Spares

Utility ans Non-automotive fuel

Temporary Staff Recruitment 

  • Gifts to employees such as gift vouchers should not be purchased on the Pcard to as a leaving gesture or as a reward staff for services provided to the School. Such gifts constitute a benefit in kind and should be processed through payroll. 

Continued non-compliance to the guidelines will incur sanctions in the use of the Pcard

Procedure

Applications forms can be obtained by emailing Mike Black, Head of Financial Operations ( m.black@lse.ac.uk ), which will need to be signed by Cardholder Budget Controller and Approver of the Cardholder’s transactions (Line manager) . Applications can take up to a month to process.

Transactions are administered through the Barclaycard Spend Management (BSM) system. Login details, training and procedural documents are provided once the Pcard has been collected by the cardholder.

The Cardholder's role in BSM is to enter the budget code, narrative and tax code for each  transactions,

The Line Manager as Approver is to scrutinise each transaction and challenge where necessary, before approving.

A 2nd Level of Approval is carried out by either AP Compliance or Research Finance before transations are posted to the Finance System (Aptos).

Delegates for both Cardholder and Approver are recommended to ensure absence cover.

Timetable

The Pcard Statement date is generally the 14th of every month

Transactions appearing in BSM up to that date is required to be budget coded by the Cardholder and approved the Line Manager by the 24th of the Month.

The  2nd Level approval by either AP Compliance or Research Finance is required to be completed by the end of the month in time for the transactions to be posted to Aptos.

If the above process is adhere to, Pcard transactions should appear in Statements5 by 3rd Working Day of the month.

For more information

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