An invoice should be issued each time a project reaches payment milestones, as defined by the grant, contract or agreement with the Sponsor.  When a project reaches a milestone, an invoice generated by PAIRE Accounts Receivable staff enters the receivable into PAIRE's accounting system.  The accounting system assigns sequential invoice numbers, which:

• appear on each invoice; and  
• enable PAIRE Accounts Receivable staff to track payment.

The invoice number prefix is the first three characters of the PAIRE account number; the invoice number suffix is the sequential invoice number generated by the PAIRE accounting system.

The invoice directs the Sponsor to send all payments directly to the PAIRE Administrative Office, and provides the name and telephone number of the appropriate contact person in the PAIRE Administrative Office.

Memoranda or other notices or reports may accompany the invoice, but may not be substituted for the invoice.

PAIRE administrative staff are responsible for collecting the amounts billed, recording the collections, and following up on outstanding invoices.

When an invoice is not paid within a reasonable time, normally thirty to sixty days, PAIRE administrative staff will investigate the reason for the payment delay and take appropriate follow-up action.

PAIRE Accounts Receivable staff will record and apply payments received to the corresponding invoices, and investigate and reconcile any variance between an invoice and its payment.