Accounts Payable

VENDOR INVOICING GUIDELINES

To ensure vendor invoices are received and processed promptly, we have provided the Bioventus Vendor Invoicing Guidelines to our vendors. If your vendors are not complying with these guidelines, please share this important document with them.

The objective of the Accounts Payable team is to process and pay invoices timely to (1) record expenses timely & accurately, reducing the need for manual accruals at month-end and (2) to maintain good relationships with vendors by paying them on time. To accomplish this goal, we need support from both vendors and Bioventus employees to ensure that, at a minimum, these two guidelines are being followed:

1. Vendor invoices must reference a Bioventus PO#. Although there are a few PO policy exceptions, these represent a small percentage of Bioventus spend, therefore we ask all vendors to include a PO# on their invoices.
2. Vendor invoices must be emailed to [email protected] (others may be copied as needed). Please do not ask vendors to send invoices to you first and later forward them to Accounts Payable; you will have the opportunity to review and approve/reject the invoice once it is input into SAP.

NON-PO INVOICE PROCEDURES

A Purchase Order is not required for:

1. Infrequent Purchases (< 5 per year) under $10,000 in aggregate
2. Certain limited categories of spend which do not require a Purchase Order

Please refer to the Non-PO Invoice Procedures for instructions on how to submit a non-PO invoice to Accounts Payable to ensure efficient processing and payment.

ONE TIME VENDOR PAYMENT REQUEST

Use of a One-Time Vendor is limited to the following spend:

1. Reimbursement of travel expenses for non-Bioventus employees (for example, candidates traveling to a Bioventus office to attend an interview).
2. Non-HCP vendors who will be used only once and the spend is < $600, which is the IRS’s 1099 reporting threshold.

One Time Vendor Payment Instructions