Accounts Payable makes every attempt to pay RFP invoices and reimbursements within three to five business days after the RFP has been received. If an RFP 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.
If the goods were received or the reimbursement was for a purchase made BEFORE the cost object terminated or expired, the invoice/request will go through the SAP system. If the goods or reimbursement were procured AFTER the termination (term code 3) or expired date, a different cost object must be provided.
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 .
No. Someone other than the individual getting reimbursed must approve reimbursements. The electronic RFP system automatically checks for invoice approval.
A department is allowed to use $15 per employee, per year, of general funds for expenses relating to employee morale. Expenses include holiday parties, flowers for sickness or bereavement, equipment or supplies for office sporting or picnic events and other similar items (please use G/L 420318).
Parking tickets and tow charges are an individual’s responsibility. If you are using your vehicle on MIT business, you are expected to park where you will not incur tickets or tow charges.
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.
“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.
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.
Generally, no. Be sure to bring MIT's sales tax form to the vendor if purchase must be made with your own credit card or cash.
A week ago I sent in an invoice. I see that it is in the system but there is no check number. When will this invoice be paid?
The invoice is waiting for the payment date. Typically, the payment is released 30 days after the date of service/receipt of goods.
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 firstname.lastname@example.org or call 617-253-2750.
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.
I have a blanket order and there is still money remaining. Can I extend the period of commitment to the following year?
No. Only under special circumstances can the time period for a blanket order cover a period longer than one fiscal year.
All purchase orders are automatically sent to the supplier via email or cXML once the requisition has been fully approved. To view the supplier version of a PO, you can open the PO in B2P and click Supplier Print View.
Each cardholder will need to have someone within his/her department be a verifier. This verifier will be able to review all Procurement Card charges online in SAP for their cardholder(s). They will have 21 days to review, reallocate and approve the charges.
No. A cardholder can be a verifier but not for oneself. These two functions must be independent of each other.
All of the invoices on my purchase order have been paid, but there is still money remaining on the PO. What can I do to close out the PO?
Send an e-mail to purchase order closeout email@example.com containing the purchase order number you wish to close.
Standard payment terms for invoices are 30 days from the invoice date (date the goods were received or services rendered). If an invoice is received after 30 days from the invoice date, Accounts Payable makes every attempt to remit payment within three to five business days after the invoice has been received.
If the invoice was attached to an email or sent in paper form, send the invoice as an email attachment to firstname.lastname@example.org. Include only a single invoice attached as a PDF, leave the body blank, and be sure the PO number is included on the invoice. Do not stamp or sign the invoice, as the invoice will be going through your approval workflow electronically once AP enters it into the B2P system. (Applies only for invoices on B2P POs; pre-B2P PO invoices should be processed with stamp/signature.)