March 31, 1999
TO THE HEADS OF ALL STATE AGENCIES
|ATTENTION:||Chief Fiscal and Administrative Officers and Business Managers|
|SUBJECT:||Corporate Express Payments|
The Office of the State Comptroller's (OSC) Accounts Payable Division is expanding the Electronic Fund Transfer (EFT) project. One of the vendors that we have selected is Corporate Express due to the large volume of checks issued by all state agencies.
Prior to the EFT implementation, it is imperative that Corporate Express receives complete information from each state agency to reconcile their accounts receivable. Corporate Express has prepared the enclosed form "ST/CT CHECK REMITTANCE ADVICE" which defines all payment information. Also attached is a sample of the completed form. Two credit memos are listed along with one month's invoice. The discount taken was calculated as 3% of the invoice amount, and the amount paid was calculated by subtracting the discount along with the credit amounts from the invoice. The information requested by Corporate Express is self-explanatory.
Since some agencies may be using a similar form, please note that the agency number, check number and credit number have been added. The check number is available to agencies on-line in CAS the day after the payment is posted. Until OSC implements the EFT process with Corporate Express, the completed "ST/CT CHECK REMITTANCE ADVICE" form must be faxed to them as soon as the check number is available. Once the EFT implementation starts the agencies must fax the form to Corporate Express after the payment is posted in CAS.
A recent review of payments made to Corporate Express determined that most agencies make multiple payments to Corporate Express often on a daily basis. During fiscal year 97/98 OSC issued 6700 checks to Corporate Express, an average of 30 per day. If every agency can take advantage of the monthly billing option, the number of payments to Corporate Express would be reduced by more than 75% to about 1500 electronic fund transfers annually. Additionally, Corporate Express will benefit through a reduction of payments.
Corporate Express advised OSC they will work with each agency to establish an optimum billing cycle. This includes a monthly billing option where the agency will still obtain a 3% discount on the entire month's bill if paid in full within 10 calendar days of receipt of invoice. ("Paid in full" includes items that have been returned, where a credit memo has not been issued. These credits will be available the following month.) Agencies are encouraged to take advantage of the monthly billing option. This will simplify billing procedures and still allow the agencies to take the 3% discount.
Agencies making infrequent purchases may continue to use the Billing Identification Field of 52 characters on the CO-17 Invoice/Voucher for Goods or Services as long as they specifically define the invoice number, invoice amount and discounts taken.
Please contact Corporate Express at 1-800-972-9781 ext. 6326 for billing information or (203) 383-6326 to discuss your billing options.
For questions regarding the EFT or State procedures, call the Accounts Payable Division at (860) 702-3591 or send email to firstname.lastname@example.org
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