Finance Updates

News, updates and information from the University of North Dakota Finance team.

Introducing Amount Only POs (Includes Training Info)

Amount Only POs” are used to approve a specified dollar amount for purchase – against which the supplier can invoice one or more times.  This type of purchase order (PO) is helpful when paying for services like monthly maintenance, recurring deliveries or equipment that is delivered and billed in more than one piece.

There is a custom field on the requisition document below the business purpose field that states: “Amount Only PO”.  When that field is checked, the PO is only matched against the costs on the PO, receipts, and invoice.  Matching on these POs is based on the total order cost and not unit costs.  Quantity is ignored completely during the matching process.

Receipts on these Purchase Orders should be entered as a Cost Receipt.

The PO will remain open until the balance reaches $0.00, or the department closes the PO early.

Training, questions and answers will be on March 23, 2022 at 11:00 a.m. CDT, via Zoom.

passcode code is 313437

David Krause, MBA CPPB,  Procurement & Payment Services