Process Steps

1. Raising an Order

When a Faculty or Division within the University raises a requisition in the eRequisitions system, Contracts Management will forward a copy of the order to the nominated supplier. The supplier is required to supply, deliver and, in some cases, install the equipment at the University of Newcastle and its multi campus areas.

2. Payment of Order

Following delivery of the equipment, the supplier forwards an invoice to the lease provider for the full value of the goods. Payment will only be made to the supplier once the University has confirmed with Macquarie Technology that the equipment has been received and is in good working order.

3. Calculation of Leasing Rates

The lease provider calculates the leasing rate on settlement day and commences the leasing charges to the University. The leasing charge is set for each asset at the commencement of settlement for the total period of the lease.

4. Billing

The lease provider bills the University interim and quarterly invoices for all assets under lease. A spreadsheet itemises costs for each individual asset leased within this time period is provided with invoice to Management Accounting. Management Accounting uses information in this file to distribute costs to each relevant cost collector each quarter by Journal entry.