- About Financial Affairs
- Accounting Services
- Budget and Financial Planning
- Credit Card Administration
- Distribution Services
- Disbursements & Travel Services
- Financial Services
- Fiscal Services
- Payroll Management Services
How to Process a Prepayment
You can request a prepayment when a deposit or full payment is necessary to pay a vendor before goods are delivered, or agreed services rendered. Usually, a prepayment is a condition or part of the payment terms referenced on the signed contract or purchase order (PO).
If a prepayment is requested by the vendor, you (as the department sponsor) are responsible for ensuring the goods are delivered in their entirety, or services rendered to your satisfaction. If this is not the case, it is your responsibility to follow up with the vendor to pursue credit or recuperate the monies. Complete the Vendor Dispute form to record and track vendor follow ups.
Be aware that if you process a PO, you (as the department sponsor) should complete the receiving in Rowdy Exchange so the prepayment can process without further delay. Send your invoice(s) to Disbursements & Travel Services for PO voucher processing or attach email approval to the non-PO.
Job Aids to Help You Process Prepayments
- How to Set Up a Supplier Using PaymentWork — Initiator Role
- Processing Non-PO Vouchers Using UTShare/PeopleSoft
- Creators of Non-PO Vouchers