Mary Jane Pacheco
Manager, Payment Services
Ryerson University
Canada Revenue Agency defines invoice as a source document.
Source documents reflect binding agreements between parties
to transactions.
They generally represent the proof of transactions and are relied
upon whenever disagreements arise between the parties in
relation to the transaction.
Invoices need to inform customers of the price of the goods
and/or services they are purchasing and the amount of tax they
are paying on those goods and/or services.
Other source documents include credit card receipts, contracts,
purchase orders, work orders, and cancelled cheques.
Last fiscal year (2013-14) financial services processed
32,527 invoices via Markview.
Any one of these invoices may be subject to audit
review.
For this reason, we require specific information on
every invoice.
When an invoice is received in financial services it is
scanned into Markview to initiate the payment
process.
For audit purposes, the following is required on each invoice:
Vendor Name
Vendor Address
Vendor Telephone/Fax/Email
Bill To Name: RYERSON UNIVERSITY
Unique Invoice Number
Invoice Date (i.e. date goods/services are received)
Detail description of the goods/services incurred
Valid Purchase Order (PO) Number (if applicable)
Vendor HST Registration Number (if applicable)
1. If the invoice is payable to an individual for professional
services, Financial Services will require the Independent
Contractor forms to be completed before the work
commences. These independent contractor forms are kept
on file (shared drive) by Payment Services. Please refer to
Weblink –
http://www.ryerson.ca/purchasing/independent_contractor/
2. If the invoice is payable to a company/organization we need
to confirm if the vendor is operating as a Non-Profit
Organization (NPO) or Registered Charity.
Vendor Name
Vendor Ad
A non-profit organization (NPO) can be set up for
any legal purpose as long as its members do not
receive a direct financial benefit from the
revenues or assets of the organization.
An NPO can operate fully without registering as a
charity with the Canada Revenue Agency (CRA).
A registered charity is a technical and precise term that
refers to an organization that:
- Is established exclusively for charitable purposes
- Uses its resources for charitable activities
- Does not operate for profit
- Has applied and is registered as a charity under the
Income Tax Act (ITA)
- Has received a Notice of Registration from the CRA
- Has been assigned a charitable registration number by
the CRA
Please direct any questions and/or concerns
you may have regarding invoices to:
invoices@ryerson.ca