Accounting Operations: Vendor Invoices & Payroll
The Accounting Operations Division is responsible for two main functions - the processing of vendor invoices and other remittances in a timely manner, and the processing of the City's bi-weekly payroll. Accounting Operations is also responsible for the year end processing of both vendor 1099 forms and employee W2 forms.
The City issues payments weekly to vendors, with checks being mailed each Friday, as well as ACH payments being deposited each Friday. To determine if an invoice has been approved for payment, it is recommended that vendors contact the department that contracted for the goods and/or services. All invoices must first be approved by individual department directors before being processed for payment by Accounting Operations. Maintaining an accurate vendor data base to ensure proper payments is an essential function of this department. To register to be a vendor with the City of Lynchburg, Form W9 must be completed and filed with the Financial Services Department.
The City's bi-weekly payroll is processed once the time sheets for each employee are entered by their department's payroll clerk. The Payroll department combines all departmental hours into a centralized payroll and then calculates earnings and accruals, as well as processing all deductions to arrive at the net pay for each employee. Once the pay has been calculated for all employees, it is direct deposited to each employee's designated account.
Financial Accounting Division: Financial Reports
The Financial Accounting Division is responsible for timely and accurate recording and reporting of financial results to the City, government agencies, as well as to the general public. The Division ensures that accounting transactions are in conformity with GAAP; evaluates municipal accounting issues; determines if disbursements legally comply with budget ordinances; and develops pertinent data for the preparation of the Annual Comprehensive Financial Report.
The Division prepares financial analysis for City Council, Administration and Departments; produce reports for Federal/State/Local and other regulatory agencies, auditors, private sector financial entities and the citizenry; handles accounting for Federal and/or State funded grants/projects; and administers the City and Schools cash management/investment functions as well as debt portfolio.
To find out more about the accounts payable or payroll processes, please contact:Reid H. Lanham, CPFO
Department of Financial Services
900 Church Street
Lynchburg, VA 24504