Payment Processing
Requisitions and invoices that are not related to a purchase order must be received before 5 p.m. on Monday in order to be processed in the following week’s check run, i.e. check requests received by 5 p.m. on Monday, August 7, will be available after 3 p.m. on Tuesday August 15. Lack of information or proper authorization could delay the processing. Business purpose should be obvious; otherwise it should be notated on the detail. Higher signature authority is required on memberships and dues; i.e. directors can not sign off on their own memberships, even though they have sign off authority on the account.
Requests for Honorariums and Awards need to be submitted on a timely basis in order to meet the time restraints of the check run. Manual checks are strongly discouraged. The department needs to allow enough time for the Honorarium or Award to go through the proper channels for authorization. Awards involving students need to be approved by the Financial Assistance Director, the Payroll Director, and possibly Grants and Restricted Funds or Endowment personnel. If the student is on the university payroll system, the award will be processed in a subsequent payroll and the appropriate taxes will be withheld. If the student is not on the university payroll system, the Accounts Payable department will mark the student as a “1099 vendor” and process a check. The appropriate tax forms will be completed at year end.
Departments paying honorariums or using the services of an independent contractor (non-Bradley employee) must complete the Determination of Independent Contractor Status document. The Independent Contractor form must be on file with Accounts Payable before any payment is made to an Independent Contractor. See Independent Contractors Form & IRS Form MISC 1099 for a form and instructions.