Accounts Payable works in partnership with Purchasing Services to onboard and disburse payments to vendors using the Penn Marketplace.
The timing of payments made to suppliers is based on when an invoice is received and entered in Accounts Payable. This applies to all payment terms: Net 10, Net 30, and Net 45. For those suppliers following best practices and using Penn’s supplier portal, the invoice date and invoice receipt date should be close.
Suppliers/Payees who are individuals currently paid on Immediate terms will not see their payments impacted by invoice receipt date.
The suppliers most impacted by invoice receipt date are those businesses that continue to mail invoices to Penn, which adds time to the end-to-end invoice-to-payment cycle. Basing payment terms on Invoice Receipt Date encourages suppliers to take advantage of electronic invoicing (cXML, PO Flip, Email box), and it eliminates excessively early payments to those suppliers that back-date invoices to expedite payment.
Please submit an email with any questions to DoFAPSupp@pobox.upenn.edu.
After a vendor has been set up with a purchase order, they have several options for submitting an invoice to Accounts Payable.
440 Franklin Building
3451 Walnut Street
Philadelphia, PA 19104-6281
Benefits of sending invoices via Penn Marketplace portal or email include:
Once received by Accounts Payable, the turnaround time for invoice-processing is between 3-5 business days. All invoices must have a valid purchase order number in order to be paid. Payment terms are dependent on selected payment methods.
Please note: Suppliers should verify shipping location with the School/Center. Accounts Payable will not accept any packages, and the packages will be returned.