Supplier Payment Terms

A pay term is the time frame in which a supplier is paid and is based on the terms of the contract agreement. If the supplier does not specify the pay terms, they will be net 30 (per ORC - Ohio Revised Code).

Review Supplier Forms

Verify the "Supplier Information Form" has been received and is complete.

Search for Supplier Record

• Refer to the search instructions in the Reviewing Supplier Information topic to determine if the supplier already has a Supplier ID in OAKS FIN. If supplier is not found, proceed to "Adding a New Supplier."

Update the Payment Terms

1. Click the Identifying Information tab.

   

    

12. All supporting documentation must be attached to the supplier's record on the Identifying Information tab.
    • Acceptable form formats include JPEG, PDF and TIF.

2. Click here for instructions on attaching supporting documentation to the supplier record.
   1. Click the Attachments link.

      

       

      • The Supplier Attachment page displays.

      

    

   1. Click Add Attachment.

      

       

   2. Copy the Document URL from the Supplier Operations Tracker.
   3. Click Browse.

      

       

   4. Paste the Document URL into the File name.

      

       

   5. Click Open.

      

       

   6. Click Upload.

      

       

      • The Supplier Attachment page displays.

   7. Update Description with <descriptive name of the document> (e.g., "VIF W9 EFT").

      

       

      • Repeat steps 2-8 for each document to be uploaded.

   8. Click OK.

      

       

      • The Identifying Information tab displays.
3. Click the Location tab.

   

    

• Complete the steps below for each CHK or EFT location that is setup:

4. Click the Add a new row icon in the Details section to add a row.

   

    

5. Effective Date displays today's date.  

   

    

5. Click the Procurement link.

   

    

6. Select Additional Procurement Options to expand collapsible region.

   

    

7. Select the Payment Terms Options dropdown.

   

    

   • Select Specify or leave as Default from higher level when:
     1. 1. • "Net 30" is specified on "Section 6 - Payment Terms" of the "Supplier Information Form."  

             

              

           • No Payment Terms are specified on "Section 6 - Payment Terms" of the "Supplier Information Form."

             

              

           • If a Payment Term other than one of the options provided is handwritten on "Section 6 - Payment Terms" of the "Supplier Information Form."

             

              

           • If more than one Payment Term is selected on "Section 6 - Payment Terms" of the "Supplier Information Form."   

             

              

   • Select Specify if none of the above.
8. Click the Look Up Payment Terms ID icon to select the Payment Terms ID.

   

    

9. Select Payment Term ID from the dropdown list.

   

    

   1. Select "2/10 Net 30" if specified on "Section 6 - Payment Terms" of the "Supplier Information Form" and the supplier does not fall into the one of the categories below.   

      

   2. Select "Due Now" for state employees, business unit suppliers, and CAPA Development.
   3. Select "Net 30" or leave blank (if Payment Terms Flag is "Default") for the following:
      • "Net 30" is specified on "Section 6 - Payment Terms" of the "Supplier Information Form."   

        

         

      • No Payment Terms are specified on "Section 6 - Payment Terms" of the "Supplier Information Form."

        

         

      • If a Payment Term other than one of the options provided is handwritten on "Section 6 - Payment Terms" of the "Supplier Information Form."

        

         

      • If more than one Payment Term is selected on "Section 6 - Payment Terms" of the "Supplier Information Form."   

        

         

10. Click OK.

    

     

    • The Location tab displays.

      

       

11. Click Save.   

    

     

12. Click the Summary tab.

    

     

Next steps - Updating the Supplier Operations Tracker