Payment Processing Timing
July 1, 1993
March 16, 2009
In the interests of efficiency and productivity, vendor payment checks will typically be written and mailed on Wednesday of each week. These payments are scheduled approximately 30 days from the vendor invoice date. (See APPL 04, Vendor Discounts, for the policy on payment of vendor discounts.) Vendor payments that are not ready to be processed by the weekly payment date (based upon the invoice due date) will be included in the next week's processing, unless a priority or exception condition can be justified. Every effort will be made to process transactions submitted for payment as quickly as possible.
Timely and accurate submission of documents by department personnel, after validating budget availability, accounting distribution, and vendor information, is the first critical step in ensuring timely payment to vendors. Exceptions to this processing schedule can usually be avoided through appropriate advance planning by a department. The Accounts Payable and Property Manager will determine if an additional check run is required for emergency/priority items.
Employees and certain other vendors may elect to receive their payments via direct deposit. Payments made via direct deposit will be processed daily to limit the reimbursement lag time for individuals who have incurred expenses on behalf of the University. All employees seeking reimbursement for business expenses are encouraged to complete the Authorization for Automatic Deposit Form to take advantage of the daily direct deposit payment schedule.