How long does it take for an invoice/request for payment to be paid?

Accounts Payable makes every attempt to pay invoices and requests for payment within three to five business days after the invoice/request has been received. If an invoice/request needs to be paid sooner, Accounts Payable needs to be informed of the date when the payment is needed to ensure the payment will be ready.

While reconciling my detail transaction report, I noticed a charge that wasn’t mine. Do I have to do a journal voucher?

In the event an incorrect charge is made against your cost object, contact Accounts Payable, 617-253-2750, or send an email providing the cost object that was charged in error, the amount and the month the charge appeared on your statement. We will review the charge in question and if a mistake was made in charging your cost object we will remove or correct the charge to the appropriate cost object .

What information is needed on a request for payment for reimbursement?

When submitting a request for payment, we will need the cost object, the general ledger account, the name of the person/vendor to be reimbursed, the original receipts as backup, an explanation of the purchase and an authorized approval signature for the cost object being charged (needs to be in Roles Database). Note that MIT does not reimburse for sales tax since we are tax exempt. Accounts Payable will deduct sales tax from reimbursements. We strongly recommend using our Procurement card as a mechanism of payment to vendors to avoid filling out and processing requests for payment. This saves time and effort.

Learn more through this online training course.

Can I approve my own reimbursement?

No. Someone other than the individual getting reimbursed must approve reimbursements. The electronic RFP system automatically checks for invoice approval.

I no longer need a check I requested, should I throw it away?

No. Checks that are no longer needed and have to be voided should be sent to Accounts Payable, we will credit your cost object once the check has been voided. Since MIT’s check is only valid for 6 months, stale dated checks should also be sent to the A/P office for reissuing. Do not ask for a stop payment on a check that you’ve requested to be voided.

I need a payment today; is this possible?

“Fast checks" are available on an emergency basis only. Whenever possible, you should try to plan ahead to ensure a payment will be issued by the day you need it. An advance call to the Accounts Payable office is appreciated before coming over for a fast check.

I need to wire funds to a supplier. Is this possible?

Yes. Although MIT’s preferred method of paying suppliers is via ACH, we can also wire funds if payments are outside of the U.S. Questions regarding wires can be directed to Accounts Payable.

U.S. suppliers are encouraged to sign up for direct deposit through PayMode (1-877-443-6944). Please note that the registration process takes 3-4 weeks. Suppliers currently receiving payments through PayMode can request to have MIT added to their PayMode account.

What does the "check" number represent in the detail transaction report (DTR)?

Check numbers, found in the right-hand column of the DTR, provide a tracking number for VPF and the bank.

The first digit of the check number represents the method of payment for each individual transaction.

Check Number/Payment Method:
9 = Paymode (Direct Deposit for vendors within the United States)
8 = ePayables (credit card)
4 = Direct Deposit (Students and Staff only)
3 = Paper Check
1 = Paper Check (fast check)

For specific questions regarding detail transaction reports, please contact or call 617-253-2750.

Why do I need a selection of source?

MIT's policies and procedures state that any procurement exceeding $10,000 requires a selection of source and price reasonableness explanation. Each purchase over $10,000 is considered a separate transaction and must follow procedures.

Who is responsible for signing hotel contracts?

Procurement Office Contract Administrators are authorized agents to sign any supplier contract on behalf of MIT. DLC personnel do not have the authorization to sign supplier contracts on behalf of MIT.

What is reallocation of charges?

The reallocation process will allow you to reallocate the cost object (account number) or G/L expense account (object code). Each transaction will be parked online for 21 days. During this time the transaction can be reviewed and reallocated by the authorized verifier to any of their authorized cost objects. If the verifier does not post the transaction within 21 days, the system will automatically post the charge to the secondary fund and non-recoverable G/L account established on the Procurement Card application. Any future reallocation of these charges will need to be done via a journal voucher.

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