• g) Payment Term (e.g. Net 30)

• h) Billing Due Date (month, day, year specified)

• i) Remit Payment to or Remittance Address (Department address specified)

• j) Contact information for billing questions (Tel & Extension number specified)

• k) Other pertinent information as required

• l) Inclusion of attachments where applicable.

5.4.4. Acceptable payment options (depending upon location) are:

• Cash

• Debit Card or Credit Card

• Cheque

• Pre-Authorized Payment Plan (PAP)

• Electronic Fund Transfer (EFT) will be accepted upon approval by the Manager of Financial Accounting

5.4.5. AR invoices should be mailed out within three (3) business days of issuance as the interest calculation period is based on the invoice date.

5.4.6. Ensure that all corporate billings and/or adjustments are properly authorized and supported.

• Departments are expected to maintain supporting documentation for all corporate billings including appropriate authorizations. Supporting documentation might include work orders, progress certificates, executed contracts etc.

5.4.7. Ensure that any and all adjustments, cancellations or credit memos are properly authorized and supported.

• Departments must complete the AR Invoice Adjustment/Cancellation form and forward an appropriately approved form to Accounting Services with supporting documentation.

5.5. PAYMENT TERMS

5.5.1. The standard payment term is Net 30 days – default financial system settings should be applied accordingly. Exceptions are permitted where specific, contractual, arrangements have been made and duly authorized.

5.5.2. Payment terms exceeding 30 days and/or specially contracted interest rates may be established with the assistance and direction of the Manager of Accounting Services. The following must be provided:

• Total amount due

• Payment date(s)

• Interest rate

• Customer contact information

• Department contact information

• Details of product/service provided