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, 617-253-7000, 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 .

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 B2P@mit.edu or call 617-253-7000.

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.

How are Procurement Card charges verified?

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.

How long does it take for a PO invoice to be paid?

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.

I received a B2P invoice directly from a supplier – what should I do with it?

If the invoice was attached to an email or sent in paper form, send the invoice as an email attachment to invoices@mit.coupahost.com. 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.)

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