The main function of the Creditors Department is to pay for items bought for the University via the Purchase Order System. The various departments on campus place their orders with their suppliers, when the goods are received the Administrative Officer in the department generates a Goods Received Note and sends the invoice to the Creditors Department where we release the payment out of the system to the Creditor. This is all done via our in house accounting system. Once a month we settle all invoices dealt with in this manner by paying the Creditor via the EFT Banking system.
The next most important function of the Creditors Department is to uphold the University's credit rating by ensuring that statements are reconciled monthly and any outstanding itmes are dealt with in a prompt manner. This involves communicating with the Creditor as well as the department concerned within the University.