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Paying Vendors by Wire, ACH, or Draft

In addition to an accounts payable check, payments can be made to vendors (both international and domestic) by one of the following methods:

  • Wire Transfer (international and domestic)
  • ACH Transfer (Automated Clearing House) (domestic only)
  • Draft (international only)

Payments can be made in U.S. dollars and most international currencies.

When possible, please make payments to international vendors in their own currency. This method is more economical for the university.

Fees

There are no additional fees charged directly to departments to make payments by any of these methods.

Initiating the Payment

The following procedures are used to process payments to a vendor using one of the above methods:

  1. The initiator processes the payment on a Disbursement Voucher e-doc (KFS)
  2. E-docs received by 11:00 a.m. will be processed the same day; e-docs received after 11:00 a.m. will be processed the following day.
  3. Cash Management submits the payment to the bank, and approves the e-doc.

Disbursement Review will forward the approved document to Cash Management. Cash Management will complete the transaction and forward the completed transaction to Accounts Payable for keying to the general ledger.

Unless you requested a draft, Cash Management will not send anything back to the department when the transaction is complete. The draft will be returned in the envelope that you attached to the form.