Financial and Purchasing

Source: https://ri.kfupm.edu.sa/dr/faqs/financial-and-purchasing Parent: https://ri.kfupm.edu.sa/dr

FAQs

Financial and Purchasing

Is prior approval must for any procurement?

Prior-Approval is mandatory for procurements exceeding 999 Saudi Riyals.

No approval is required for procurements less than 1000.

Are Invoices under personal name acceptable?

No, Invoices under personal name are not accepted.

Is it a must to have Invoices under KFUPM’s name?

Yes, it is a must to have Invoices under KFUPM’s name.

How can an Invoice be made under KFUPM’s name?

Invoices can be obtained under KFUPM’s name by providing the KFUPM VAT# 300000865600003.

How can the online invoice be under KFUPM’s name?

Please add KFUPM with your name and also include KFUPM in billing and shipment address.

Is hand written invoices acceptable?

No, only electronic invoices issued as per GAZT are accepted, with the information of Supplier Name, Supplier VAT Number, QR Code, Purchase Date, Invoice No., Description, VAT Amount etc.

What is “Proof of Payment”?

A document which is evidence of payment, such as Credit Card Statement (or) Bank Transfer (or) Receipt Voucher (or) Paid Stamp (or) Cash Invoice are considered as payment proof.

What is “No Objection Certificate” from ICTC?

NOC from ICTC is mandatory for any IT related procurement (Printer, Scanner, Hard Drive, Flash Drive, Software, Workstation…)

Does Invoices have validity?

Yes, Invoices are valid for 180 days from the purchase date and within in this duration the payment cycle should be completed.

What if Invoices has gone beyond 180 days?

Beyond 180 days Invoices are considered as expired and intervention of Vice President for Research & Innovation (VPRI) is required.

Are expired invoices processed?

Expired Invoices are subjected to VPRI recommendation.

When the Invoice payment cycle should be started?

Invoice payment cycle must be initiated within 7-Days of purchase.

Is Store House Stamp compulsory on the Invoices?

Store House Stamp is mandatory on the invoices exceeding SR 999 or any tagable item.

What docs are required for claiming reimbursements?

For less than 1k reimbursements: Invoice, Proof of Payment and Reimbursement Form
For more than 1k reimbursements: Approval Memo, Invoice, Proof of Payment, Reimbursement Form, Direct Purchase Form and Inspection Certificate Form.

Can we request for supplier/vendor payment?

Yes, only if the vendor is registered with KFUPM.

What is Vendor ID?

KFUPM provides an ID # to the vendor upon its registration.

What docs are required for vendor payments?

Quotation, Approval Memo, Purchase Order, Invoice, Supplier Payment Form, Direct Purchase Form and Inspection Certificate Form.

What is "Invoice"?

A document which indicates the details of items purchased, their quantities and their prices.

What is "Vendor"?

A company which is supplier of goods or services