Form or Payment Method Matrix

Goods totaling ≥ $2500 and services ≥ $50,000

P.O. Invoice – no form required

• Verify that goods were received or services were rendered.
• Write “OK to pay” on invoice that is billed to Kent State University and reflects the correct amount to be paid. Invoices will not be short- or over- paid. If the total on an invoice is not correct (e.g., if you have been overbilled) you must work with the vendor to get a new invoice with the correct total.
• Sign full first and last name on invoice. If your signature is not legible, print your name below your signature. Initials in lieu of a signature are not acceptable and will result in delay of payment.
• Write the P.O. number on the invoice if the vendor has not printed it on it.
• P.O. will be closed by Accounts Payable once the balance has reached $0.

7 – 12.1

ADMINISTRATIVE POLICY REGARDING PURCHASING OF GOODS AND/OR SERVICES

Non-P.O. payments for

• Amounts greater than $2500
• Food and beverage
• Gift cards
• Independent contractors
• Non-employee lodging*
• Purchases that require advance approval by an executive officer (e.g., individual memberships, sponsorships, business meals & entertainment)
• Vendors who charge fees for credit card payments or do not accept credit cards

* Lodging for employee business travel must be paid by the employee and reimbursed through the expense reimbursement workflow.

Payment Request Form

• Complete the Payment Request Form in full, following the instructions available on the Accounts Payable website.
• Attach the invoice to the form. Invoice must be billed to Kent State University and will not be short- or over- paid. If the total on the invoice is not correct (e.g., if you have been overbilled) you must work with the vendor to get a new invoice with the correct total.
• Obtain all required signatures.
• Submit to Accounts Payable.

IMPORTANT: Payment Request Forms submitted without all required signatures and documentation will be returned to the individual listed as the preparer.

Non-P.O. payments for:

• Amounts equal to or less than $2500
• Everything allowable by university policy other than the following items:
  • Food and beverage
  • Gift cards
  • Independent contractors
  • Lodging
  • Purchases that require advance approval by an executive officer (e.g., individual memberships, sponsorships, business meals & entertainment)
  • Vendors who charge fees for credit card payments or do not accept credit cards

Purchasing Card

• Contact the vendor directly to make payment.
• Retain all payment documentation in your office.

• Invoices requiring payment in foreign currency

• Foreign invoices requiring payment by wire

Wires are a non-preferred form of payment due to their cost to the university. They should only be initiated when absolutely necessary. Accounts Payable and Treasury reserve the right to send payment via purchasing card, check, or ACH when it is deemed appropriate.

Wire Request Form

This form is not used to pay vendors who have enrolled in direct deposit with Accounts Payable. Once a vendor has enrolled in direct deposit,that is the default method by which they are paid and payments to them must be initiated with the Payment Request Form.

IMPORTANT: When paying a foreign vendor, additional documentation may be needed in order to determine the university’s tax and reporting requirements. In order to minimize delays in payment, have the vendor complete the TINC form and attach it to the Wire Request Form when submitting it to Accounts Payable.

• Complete the Wire Request Form in full.
• The vendor’s banking information must be printed on the invoice or be submitted on the beneficiary bank’s letterhead. All questions about what banking information is required should be directed to treasury@kent.edu.
• Attach documentation and submit to Accounts Payable.