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Coming soon! New lease payment process

Coming soon! New ways to pay lease invoices

The Lease Payment form will be updated in April to allow for a more efficient and controlled process for submitting real estate lease invoices to be paid. Agreements for real estate leases will now be entered into Mountaineer Marketplace and payments will be tied to the applicable contract number.

Outline of New Process

  1. Department submits a Lease Form and select the contract for that specific lease (similar to when a contract is selected for a non-catalog or confirming order form
    1. The form will be completed one time per fiscal year for the total amount of the lease for that fiscal year.
    2. The quantity will be the number of payments per fiscal year and the unit price will be the individual payment amount. For example, if you need to make a monthly lease payment, in July you would submit the Lease Form and have a quantity of 12 and the unit price would be your monthly amount.
    3. If you have an unusual payment schedule for your lease, our office will work with you to determine the best way to complete the form.
  2. The form will then route through the requisition workflow, ending at the Procurement approval step. Once Procurement approves the requisition, a purchase order will be created in Marketplace and the funds will be encumbered in MAP.
  3. The requisitioner will complete receiving each month and upload the invoice documentation via a comment on the purchase order in Marketplace.
  4. Payment Services will schedule a recurring invoice to be created in Mountaineer Marketplace each month during that fiscal year, which will route to a folder for Payment Services to approve. Payment Services will audit the invoice against the lease agreement.
  5. Once approved, the supplier will be paid and the encumbrance will be released for that month’s total.

Benefits to this change in process:

  • Payment Services, applicable departmental stakeholders, Finance can access the agreements for auditing and reporting purposes.
  • The contract/lease number will be tied to the payments without the need for the departments to hand enter the number into a free field, reducing the risk of manual data entry errors.
  • Controls for accurate payments will be more automated as lease payments will be made only against active contracts and departments will be required to complete receiving to confirm the space is still being used.
  • Notices will be sent to the real estate group when a lease is nearing expiration.

In early April, Payment Services will contact the departments with existing lease agreements to work through this change. The goal is to have the new process up and running to then create the PO’s that will include the May and June amounts for this fiscal year.

If you have any questions at all, please feel free to Contact PCPS.