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Attachment 10 - Wire Transfer Request Procedure

Attachment 1
Purchase Order Receiving Procedure

The Purchasing Module of Banner Finance requires a three-way match of a purchase order, on-line receiving and a vendor invoice before the payment process is begun. The department/office completes on-line receiving with the date the product is physically received or service rendered. (This is very important for determining the appropriate accounting period according to Generally Accepted Accounting Principles.)

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1. In the Search field enter of the Banner Welcome page
   Type FPARCVD
   Enter
   
   
2. In the Receiver Document Code
   Type Next
   Go
   
   
3. Receiver Header can remain blank
   Next Section
   
   
4. Packing Slip
   Enter invoice number or initials and date (i.e. ABC102517)
   Next Section
   
   
5. Purchase Order
   Enter Purchase Order number
   Tab confirm the correct vendor appear
   
   
6. Go up to tools and select Option Receiver All Purchase Order items or Select Purchase Order items
   Next Section

Attachment 2
 Three-Way Match

The Purchasing Module of Banner provides for a three-way match of the purchase order, receiving, and vendor invoice. When this match is complete, the payment is scheduled for payment processing through the check matching process.

1. The following disbursements are reviewed by the Accounts Payable Supervisor: Standing Order (SO), Check with Order (CW), and Change Order (CH). These purchase order types are not included in the three-way match.
2. Responsibility for payment, after the three-way match is performed, is assigned to the Supervisor of Accounts Payable/Disbursements. Proper control of the payment function is maintained by the system through the use of security in the purchase order authorization function, the separate responsibility for receipt of goods, and the processing of the vendor's invoice
   1. Release of a University check for distribution is subject to approval based on the amount of the check and the nature of the expenditure:
      1. Up to $15,000
      2. Director/Supervisor of A/P
   2. $15,000 and over
      1. Director/Supervisor Accounts Payable and original signature of the Senior Vice President of Finance, Bursar, Assist VP of Finance/Controller or Director of General Accounting.
      2. Foundation /S.J. Technology Park checks require an original signature of an authorized signer. Checks that exceed $1,000 require two signatures of authorized signers. Signature cards are on file with the Director of Accounts Payable.

Attachment 3
Direct Payment - Responsibilities and Procedures

As described in the policy, direct payments do not require a purchase order and are usually processed on an MDV form. An allowable business expense is anything that fits the criteria found in Section 8 of this policy. MDV’s may be used for pre-payment of travel, tuition reimbursements, out-of- pocket expenses under $500, and other miscellaneous administrative disbursements. For more information on travel reimbursements, please review the Travel policy. The procedures for initiating and processing Miscellaneous Disbursement Vouchers (MDV's) for the purposes of authorizing and approving expenditures are discussed below.

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**For forms visit Account Payable website and click on tab called “Forms”

Attachment 4
Direct Payments for Tuition Reimbursements

As described in the policy, direct payments do not require a purchase order and are usually processed on an MDV form. As stated in the policy, the MDV form can be used to process various payments, such as tuition reimbursements, student refunds, sales and Payroll tax withholdings, travel and other miscellaneous administrative disbursements. Below are the procedures for completing an MDV form when requesting a tuition reimbursement.

1. Tuition Reimbursement
   Each bargaining unit has specific guidelines for handling the reimbursement of tuition. Please contact the Provost Office or Human Resources for specific details. Payment is contingent upon continuation of the Tuition Reimbursement Program in the successor agreement that is negotiated between the state and each bargaining unit.
2. Upon completion of the course:
   1. The employee prepares the Tuition Reimbursement Form (MDV)
   2. Employee submits proof of completion of course with a grade of "C" or better to Supervisor
   3. Submit MDV form to Human Resources for approval
   4. Follows procedure for reimbursement (see attachment number 3)

Attachment 5
Hire & Pay an Independent Contractor
Step by Step Summary

1. Hiring Director sends a Service Provider Questionnaire (SPQ) and W9 to the potential   service provider to complete and return with supporting documentation.

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**For more information visit Independent Contractor Policy

Attachment 6
Petty Cash Procedure

Steps for establishing Petty Cash Fund:

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1. The reimbursement of petty cash will be processed on an MDV; the MDV should be made payable to: "Petty Cash Fund, c/o Custodian Name" Banner ID.
   
   
2. All receipts and supporting documentation should be attached to the MDV and any cash on hand should be noted in the description of services box.
   
   
3. All normal Accounts Payable procedures regarding MDV’s will be followed (i.e., authorized signatures, budget requirements, etc.)
   
   
4. Reimbursement for all receipts should be made no later than 45 days from the date received.
   
   
5. After the check is produced, Accounts Payable will notify the custodian for pick-up. The custodian can then cash the check to establish the fund.

Attachment 7
Check Cycle Responsibility

1. Rowan University disburses funds for payment to vendors and for the reimbursement of employees/students through the Accounts Payable function of the Banner Finance system. Checks are processed in the Accounts Payable Department.
   
   
2. The Director and the Supervisor of the Accounts Payable Department handle the responsibility of check cycles. The check cycle disbursement reports are produced and maintained in Accounts Payable with each check run. After the check run is completed, check disbursement reports are reviewed by the Director of Accounting Services.
   
   
3. All disbursements of the University may be "facsimile" signed by an authorized officer of the University utilizing a laser printer. These officers include: President, Senior Vice President of Finance, Bursar, Assist VP of Finance/Controller and the Director of Accounting. The Rowan University Foundation checks require original signatures and no “facsimile” signatures are permitted. Authorized officers that may sign these checks are the Executive Director of the Foundation, Senior Vice President of Finance, Director of Accounting Services, Director of Accounting and the Foundation Administrator. The South Jersey Technology Park at Rowan University checks require original signatures and no “facsimile” signatures are permitted. Authorized officers that may sign these checks are the President, Executive Director of the South Jersey Technology Park at Rowan University, Senior Vice President of Finance of Rowan University and the Treasurer of the South Jersey Technology Park at Rowan University.
   
   
4. All University Accounts Payable disbursement checks that exceed $15,000, excluding student refunds, require two signatures; one signature must be an original. Student refund checks that exceed $10,000 require two signatures. All Rowan University Foundation disbursement checks over $1,000 require two original signatures. All South Jersey Technology Park at Rowan University checks over $10,000 require two original signatures.

Attachment 8
 Check Cycle Disbursement

Accounts Payable produces all checks on local MICR Laser printers. Regular check runs are completed Monday, Wednesday, and Friday of each week.

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**Demand checks are run as requested. Proper paperwork is required at all times. Members of the Accounts Payables staff enter these requests into the Banner Finance system. The process to complete a regular check run is followed to produce the check.

Attachment 9
Types of Payment Requests

1. Regular Payment Requests
   Payment requests are entered into the Banner Finance system from invoices received for payment as a result of a University purchase order, Miscellaneous Disbursement Voucher (MDV), Travel expense or batch file request. Various voucher forms indicate types of payments and/or special handling instructions (e.g., enclosures, payroll-related items, bursar-related items, etc.) and are used to collate the different payment requests.
   
   
2. Demand Payment Requests
   Payment requests are handled as required. The need for immediate payment, outside the normal processing periods, are reviewed and approved as needed.       
   
   
3. Electronic Payment Requests
   Payment requests that are sent via Wire or ACH (Automated Clearing House) for the same type of invoices listed above.
   
   
4. Types of Checks:
   Self-sealing checks are used for all types of payments.
   
   
5. Checks that require special handling:
   1. Enclosures for documents without invoice numbers
   2. Student-related refunds
   3. Rowan University Foundation payments
   4. South Jersey Technology Park payments
   5. Demand checks
   6. Payroll-related items

Attachment 10
Wire Transfer Request Procedure

1. Wire Transfer Request is appropriate under specific conditions, such as payment of a foreign vendor, tax remittance and when no other source of payment is accepted. Only appropriate authorized individuals may initiate the transaction. Supporting documentation is required to complete the transaction. Wires are processed by the Finance Division after all appropriate approvals have been met.
   
   
2. If you are submitting a Wire Transfer:
   1. Complete the Wire Transfer Request Form
   2. Ensure Banking Information is correct “vendor’s banking information"
   3. Payee Name (must be exactly the same as the name on the bank account)
      1. Bank Name
      2. Bank Physical Address
      3. Swift Code
      4. Account Number
      5. International Routing Number
      6. All documentation (including the invoice) must be in English  
      7. Supporting documentation and invoice
      8. Form must have appropriate approvals before submitting to AP
      9. Once AP receives the document – wire is processed and submitted to Accounting Services for second approval
      10. Accounting Services reconciles at the end of each month and enters a journal entry to clear expense of wire to proper FOAPAL
3. Notes for Departments:
   1. If the dollar amount changes due to foreign exchange rates, AP will change the amount on the Wire form to match.
   2. Domestic transactions should be completed as direct deposits not wire transfers, whenever possible.
   3. Due to East Coast banking times, all wires must be submitted to Accounts Payable by 10 a.m. for same day processing.
   4. If there are any questions about the Foreign Wire Transfer Process, please email the Accounts Payable Director prior to submitting the Wire Transfer Request.

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