Supplier Payment Performance Data
|Financial Year||Invoices paid within 30 days of invoice date||Invoices paid within 37 days of invoice date||The amount of interest paid to supplier due to a breach of the requirement in regulation 113|
For the year to 31 July 2020 the University of Leicester paid 72% of invoices received within 30 days of the invoice date. For those not paid within 30 days of the invoice date the main reasons were:
- Invoices were sent to the incorrect address for payment
- Invoices did not quote a valid purchase order number
- Invoiced price was different to that agreed with the supplier at the point of purchase order
- Supplier incorrectly charged VAT on supplies where a VAT exemption certificate had been issued
- Additional time was required to verify and resolve disputes
For the year to 31 July 2020, 77% of invoices were paid within 37 days of the invoice date. The extra 7 days allows for the time for Accounts Payable to receive and pay valid invoices from suppliers sent to the incorrect address, or for the University to reasonably consider, verify and resolve disputes with suppliers.
All invoices sent to the University of Leicester must quote a valid University purchase order number unless exemption has been agreed. Invoices received without a valid purchase order will be automatically rejected by our finance system and cannot be processed for payment until a valid purchase order has been issued and included on the invoice.