Accounts Payable Timetable
Invoices may be mailed via interoffice mail or delivered to ADM 140 in the Administration Building. To ensure that all discounts are taken and that invoices are processed by their due dates, it is critical that invoices be forwarded to the Accounts Payable team as quickly as possible. Properly authorized and coded invoices and requests for reimbursement will be issued within five (5) business days of receipt.
- Delivery of Invoices to Accounts Payable
- Processing Time/Check Distribution
- Frequency of Check Runs/Checks Processed Outside of Normal Cycle
- Original Invoice Required
- Payment Terms
- Approvals Required
- Responsibility of Authorized Signer
- Reason For Purchase
- Account Coding
- Research Grant Expenditures
- Remittances Requiring Enclosures with Checks
- Payments to an Individual or Group Other Than a Corporation (Partnerships, etc.) W-9 Required
- Payments to Individuals
- Employee Gifts
- Gift Cards
- Purchasing Card/Travel Card
- International Travel
- Reimbursement of Transactions Completed with Foreign Currency
- Travel Arrangements
- Travel Insurance and Accident Information
- Founders Inn
- Travel Reimbursements
- Hospitality Expenses
- Miscellaneous Reimbursable Expenses
- Non-Reimbursable Expenses
- Lost Receipts
- Voided Checks
Questions and Comments
If you need to ask a question dealing with Accounts Payable issues, please contact one of the individuals listed below. Fax documents to (757)352-4342. You may also e-mail questions by clicking on a name listed below. See also a list of frequently asked questions.
|Contact Name||Phone Number|
Accounts Payable Manager
Accounts Payable Clerk
Accounts Payable Clerk
Procedures for Submitting Invoices and Expenditure Reimbursement Requests
The Accounts Payable team wants to provide the best service possible to our customers. Your compliance with the procedures below will ensure that all invoices and reimbursement requests are processed in a timely and efficient manner.
Delivery of invoices to Accounts Payable
Invoices may be mailed via interoffice mail or delivered to the Accounts Payable office, ADM 140, Administration Building . To ensure that all discounts are taken and that invoices are processed by due dates, it is critical that invoices be forwarded to the Accounts Payable team as quickly as possible. Below are the Accounts Payable team members, and their areas of responsibility:
Accounts Payable Manager: Teresa Foley
- Procedure/Policy questions
- Sales & Use Tax exemption questions
- 1099 & W-9 questions
- General Ledger account reconciliation
- Accounts Payable Journal Entries
Accounts Payable Clerk: Crystal Walton
- Travel and Cash Advance Requests
- Regent Travel cards
- Expense Reports
Accounts Payable Clerk: Rachel Olsen
- Vendor invoices A-Z
- Regent Purchasing Cards (Departmental)
- Founders Inn
Processing Time/Check Distribution
Properly authorized and coded invoices and requests for reimbursement will be issued within five (5) business days of receipt, or by due date, by the Accounts Payable Team. All checks will be mailed unless otherwise stated. Checks issued to Regent employees will be mailed to their campus address.
Frequency of Check Runs/Checks processed outside normal cycle
The Accounts Payable team processes checks two times each week. If checks must be printed outside the normal processing schedule, the department requiring the additional check must have approval from the Accounts Payable Manager or Controller.
Original Invoice Required
Payment will not be made from anything but an original invoice. Packing slips and statements should not be submitted for payment. It is the responsibility of each department to provide an original invoice. If for any reason a copy must be submitted, the top of the invoice should be marked "Original". Make sure that the original has not already been submitted for payment before sending a copy of an invoice to Accounts Payable for processing. Do not submit a check request with an invoice; all authorizations and account coding should be made on the face of the invoice. Approval signatures and account coding should not be made on the remittance portion of the invoice.
The University pays all vendors on "net 30" credit terms (payment 30 days after purchase). Cost centers are not authorized to negotiate different terms or make special arrangements concerning payment terms. Variances from this policy can only be approved by the Controller or the Chief Financial Officer.
A full, legible signature of the individual authorizing payment is required. Initials will not be accepted. Only those individuals having budget responsibility or individuals to which that responsibility has been delegated may approve invoices or expenditure requests. Department heads must provide written authorization for approved individuals with the authorized individual's signature. Individuals with budget responsibility cannot approve their own expense reimbursements. In these situations, the individual's immediate supervisor must approve the expense report.
Approval signatures should not be written on the remittance portion of any invoice.
Individuals authorized to approve business expenditures for their designated cost center(s) have the primary responsibility for ensuring compliance with Accounts Payable and Purchasing policies. In order to authorize an expense, signers must:
- Attest that the purpose of the expense is valid and directly related to University business.
- Request further documentation or explanation of expenses that appear to be excessive or unusual.
- Verify that the expenditure is charged to the proper cost center and expense account.
- Include a full, legible signature approval on the paperwork prior to submitting to Accounts Payable for processing.
Reason for Purchase
When a business purpose is not evident for any item purchased, a brief description should be added to the invoice or reimbursement request explaining how the item(s) will be used and/or who will be using the item. Invoices and reimbursement requests submitted having no obvious business purpose and lacking an adequate explanation will be returned.
Invoices and reimbursement requests must be coded with the correct cost center and account number. Invoices and reimbursement requests submitted with incorrect account coding will be returned. Account coding should not be written on the remittance portion of any invoice.
Research Grant Expenditures
Research grant expenditures should be approved by the Office of Academic Affairs. All requests being paid from research grants should be forwarded to Academic Affairs. Academic Affairs will forward the requests to Accounts Payable for processing. Questions on grants may be directed to Acadmic Affairs at extension 4051.
If International travel is required, see policies and procedures under International Travel
Remittances Requiring Enclosures with Checks
Any forms to be included with the check when mailed should be stapled to the invoice. The Accounts Payable team will be responsible for enclosing the document with the check. When submitting subscriptions, dues payments, or any other payment request without an invoice number, a copy of the invoice must be attached to send with the payment. This will assist the vendor in crediting the University with payment of the invoice.
Payments to an individual or group other than a Corporation (Partnerships, etc.) W-9 Required
A completed W-9 form must be on file in the Accounts Payable office for new vendors who are not incorporated, including, but not limited to individuals, partnerships, and attorneys. The Accounts Payable team will be responsible for faxing W-9 forms to new vendors. This form must be completed before payment can be made. For individuals, the Tax ID number is generally the individual's social security number. Partnerships and other business organizations are assigned a Federal Employer Identification Number (FEIN) by the IRS.
Payments to Individuals
It is extremely important that any payment for work done by a student or employee of the University be processed through Payroll rather than through Accounts Payable. Payments in excess of $600.00 made to individuals through Accounts Payable are reported annually to the IRS on form 1099. If you are unsure as to the proper handling of payments to be made to an individual, please call Teresa Foley, Accounts Payable Manager at x4056. If your school or department needs to pay an individual for services rendered, please note the following Independent Contractor Agreement procedures:
Independent Contractor Agreements
Before preparing a contract, please determine whether the individual should be an employee of Regent University, or an independent contractor, using the following prerequisites for an independent contractor:
- The university controls or directs merely the end to be accomplished, not the means and methods for accomplishing it;
- The work or project is a "one time thing" not to be perdioically continued throughout the academic year;
- The individual develops and/or performs the service in his or her own time schedule, and does not spend most or all of his or her time serving the university.
- The university does not furnish tools or normal workplace to the individual; and
- The individual holds him or herself out as available to perform similar services for the general public or other organizations similar to Regent University.
Services that do not meet the above criteria should be arranged as employment, using a New Employee Form and other required paperwork (I-9 Form, state and federal tax forms, etc).
Accounts Payable will automatically process payments as scheduled in an executed contract unless they are informed of changes due to incomplete or unsatisfactory work or for any other reason. Alternatively, the contracting department may reserve the option to prepare a check request for each payment due according to the contract.
- Independent Contractor Agreement Template
- Independent Contractor Agreement Template (to be used when contractor is performing services outstide the United States)
- Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding (W-8BEN) instructions & form. (This tax form is required for non-resident aliens performing a service outside of the United States. Parts I and IV must be completed. This must also be completed by foreign-owned companies doing business with Regent Unviersity.
Please submit all independent contractor agreements for review and approval to the Vice President for Human Resources prior to their becoming effective. Independent Contractor Agreements are not maintained in Human Resources. Once approved and signed, they are sent back to the department, and then must be taken to Accounts Payable for processing.
An honorarium is a gift, not a form of payment for services. If a person is deemed to be “earning” and/or “expecting” payment, then an honorarium is not appropriate. In situations where an honorarium is appropriate, e.g. to express gratitude to a guest speaker who has not requested payment, submit a Check Request to Accounts Payable with the name, address, and social security number of the individual receiving the check. If the amount of the honorarium exceeds $500, prior approval must be obtained from the Chief Financial Officer or the Vice President for Academic Affairs if a school is making the request.
- IRS Publication 17 provides very specific guidance regarding taxable income of gifts given to employees that are paid with institutional funds. Due to the complexity of this regulation, as well as the cost to regulate policy, Regent University has taken the position that no employee gifts (both tangible and monetary, including gift cards) can be purchased with institutional funds except for gifts given as part of a Human Resource sponsored university wide function. Examples include, but are not limited to:
- Human Resource Employee Christmas party give away
- Human Resource Employee Length of Service awards
- Retirement or farewell events for employees with more than 5 years of service. A general guideline is a maximum of $75. Years of service should be considered when determining the price of the gift.
- Illness of an employee or student requiring hospitalization.
- Memorial flowers upon the death of an employee or an employee's immediate family member (spouse, children, parents). Memorial gifts made on behalf of the employee may include donations to a charitable organization. In such cases, Regent University should be acknowledged as the sender, e.g. "from all your friends and colleagues at (University department)." A recommended limit for this gift is $75.
- Gifts to honor an individual for personal reasons other than those indicated above (e.g. birthday, wedding, baby shower/birth of a baby, promotion, etc) may not be charged to the University. Personal contributions among employees are the preferred method of providing such gifts.
- Gifts presented to employees may be subject to applicable Federal, State, and Local taxes. All employee gifts must be reported to the Payroll department for processing.
Gift cards or certificates purchased with university or grant funds cannot exceed $50 . They may be given as prizes or giveaways for students at events or as incentives to research participants in a particular study. All other types of gift card purchases are discouraged. Also, gift cards may not be used as a form of honoraria for employees. These types of payments must be processed through the payroll system. When gift cards are being purchased with grant funds, the following criteria must be met:
The gift card is for research participant incentive payments only and
Costs for research participant incentive payments are included in the researcher's grant budget and allowable by the terms and conditions of the specific grant.
A signed "Authorization for the Purchase of Gift Cards/Gift Certificates " is required. This form along with an original itemized receipt must be attached to the appropriate documentation for payment (Purchasing Card Statement or Expense Report). If gift cards are purchased with a purchasing card, they must all be given out by the end of the same month as purchased.
In the event the gift cards are purchased for a study or research project, where the participants are to remain anonymous, a "Disbursement Log" must be maintained by the department doing the study. The person disbursing the gift cards must update the disbursement log each time a card is disbursed. Names, amounts, dates and signatures will be required on the log. Also, the person disbursing the gift cards must sign the disbursement log as well as a designated department head. At all times, the total of the undistributed gift cards and the disbursement log must equal the total of all gift cards purchased. All undistributed gift cards must be kept in a secure and locked environment.
Gift cards are considered like "cash" and proper procedures must be followed to ensure effective controls of these cash convertible gifts. If proper controls are not followed, the employee becomes personally responsible for reimbursing the university for the cost of the gift cards.
This policy pertains to international travel funded by the University. Any person planning international travel must obtain approval from the appropriate Vice President prior to making any financial commitments related to the trip by completing the online approval form.
A Travel Request Form (for cash advance purposes) must be completed and signed by the appropriate Dean or Admin. Dean and sent to Accounts Payable.
Employees must not purchase any other type of traveler's insurance. The University has adequate coverage.
Immunizations required for international travel are not covered by the Regent Health Insurance plan. Departments may cover the costs of the immunizations, but employees must contact Human Resources for referrals to agencies who provide immunizations at a reasonable cost.
Reimbursement of transactions completed with foreign currency
Expenses charged in foreign currency will convert to US dollars on credit card statements. If expenses were put on a credit card, to ensure reimbursement of these charges, a copy of the credit card statement should be submitted with the Expense Report and receipts. The Expense Report should reflect the reimbursement in US dollars.
Please refer to Transportation/Rent-A-Car/Making Air or Travel Arrangements found on the Purchasing Website.
Please refer to Travel Insurance and Accident Information found on the Purchasing Website.
For instructions and procedures on making reservations for guests of Regent University, please click here.
Regent University will reimburse its employees for authorized expenses incurred while fulfilling their responsibilities as employees after proper University procedures are followed.
Travel Request Forms/Cash Advances
An approved Travel Request form must be completed before any business travel may be initiated. This form will also serve as a Cash Advance request for any travel expenses that will be paid by cash. Cash Advances require a minimum amount of $150. Employees who are issued a Cash Advance must satisfy or return the advance with an Expense Report before a new advance for the next trip can be processed. Cash Advance monies not returned after ninety days of issuance will be deducted from the employee’s wages.
Expense reimbursements should be requested using the Expense Report form and completed by following the instructions noted on the bottom of the form. Attach appropriate expenditure receipts to the Expense Report. Expenditures will not be reimbursed without appropriate receipts. Expense Reports are to be submitted no later than five days after each trip ends or every two weeks if expenditures are incurred on an ongoing basis. Travel expenses consist of the following:
Please reference “Making Air or Rail Travel Arrangements” under the Purchasing Office site.
Mileage and Gas Reimbursements
Mileage is reimbursed at .50 per mile for business related travel when using a personal vehicle. This includes transportation from home or work to the airport. Normal transportation to and from work is not reimbursable. An explanation of mileage or gas reimbursements is required and must be recorded with individual trip locations and miles traveled. Mileage logs can be found here. For out of town automobile travel, employees must determine whether renting a car (see the following Purchasing Office site) is less expensive than utilizing one's own vehicle at the current reimbursement rate. Gas purchases will only be reimbursed for rental or courtesy cars, and receipts must be provided. Regent will reimburse the employee only the lesser of car rental (the car rental standard rate plus gas purchase) or the reimbursement rate for one's own vehicle. If it's determined that driving one's own vehicle is the cheapest rate, written proof (online quote from rental car agency) must be provided. If a trip of considerable distance is involved and employees elect to drive versus fly, only an amount equivalent to an airline coach class fare will be paid. Written proof (online quotes from airlines) of airline fare must be provided.
Please reference the Purchasing Office site for procedural guidelines when renting a car for official university business.
If parking at Norfolk International Airport , please review the map showing the short term and long term parking lots. When parking at the airport overnight for Regent travel, park in the long term lots. The long term rates are $7/day and the short term rates are $18/day. The nine level parking garage has short term parking and long term parking. Levels 1-2 of the garage are short term and levels 3-9 are long term. The University will only reimburse employees for the long term rate of $7/day.
Convention/Conference and Meeting Expenses
The University will reimburse expenses charged to University employees while attending approved conventions/conferences and meetings. Depending on the location of your meeting/conference, it may be necessary to travel the day before the meeting begins. If that is the case, you will be reimbursed for the costs of lodging and meals for that day. Because of flight schedules, it may also be necessary to remain at the meeting site the night that the conference ends. In that case, you will be reimbursed for your lodging and meals on the last day of the meeting as well as your meals while en route home the following day. Any decisions related to traveling the day before or staying the night the meeting ends should be documented and retained in the department files. As a general rule, travelers should never travel earlier than the day before or the day after a meeting/conference.
The University does not pay for other family members to attend unless that person is a university employee and attends the conference/meetings for professional reasons. Any expenses of family members should be deducted from the charges submitted to the University for reimbursement.
Advance planning must be done in order to locate modest accommodations. Rates should not exceed the equivalent of Courtyard by Marriott, Hampton Inn, etc., except when necessitated for conventions and conferences where rooms are a part of the package.
Reasonable costs of long distance telephone calls and messages while traveling are reimbursable but must be described and cannot exceed $5 per day. Allowable calls include those that are necessary for university-related business and one personal call, of reasonable length, per day. Please do not use the hotel room telephone for making direct long distance calls. Calls from hotel rooms are very overpriced. Airtime and roaming charges for business related calls are reimbursable when other options are unavailable.
A meal expense per diem of $38 per day is allowed for employees traveling on university business. If you spend less than $38, you keep the difference. If you spend more than $38, you must cover the excess from personal funds. The following schedule will help you identify when you should claim a per diem meal:
- Breakfast: $8.00– must depart home prior to 7:00 am
- Lunch: $10.00- must depart home/Regent prior to 11:30 am and return home/Regent after 1:30 pm
- Dinner: $20.00- must depart home/Regent prior to 5:00 pm and return home after 7:00 pm
Alcoholic beverages are not reimbursable. You may not pay for meals with your Purchasing or Travel Visa card. Your per diem meal cost can be paid to you through a cash advance requested before the trip, or through personal funds with an Expense Report after the trip.
Per diem should not be claimed when meals are provided through hospitality, conferences, etc. Per diem allots $8 for breakfast, $10 for lunch and $20 for dinner. It is expected that for partial days of travel at the beginning or end of a trip, the employee will utilize the per diem meal rates for the meals required away from home. While the cost of any one meal may exceed the allowance, you may economize on some meals to offset the more costly ones.
In the event an employee entertains for business purposes while traveling, a receipt must be submitted which also documents the people in attendance and the business purpose of the expense. See Hospitality Expenses for detailed procedures.
Hospitality charges include entertaining visitors for business purposes. Meals including outside individuals should be for the primary purpose of fostering positive university relations. The meals may not be for social purposes, nor merely reciprocal. Careful judgment should be used in deciding when paying for other's meals is an important element of one's business with them. When dining with guests, we want to convey good taste coupled with good stewardship. As a guide in Hampton Roads, you can dine adequately for about $8/Breakfast, $10/Lunch, and $20/dinner per person. Dining at the Founders Inn, a Regent owned hotel, is excluded from the suggested pricing guidelines since any monies spent at the hotel indirectly return to the university. The Swan Terrace at the Founders Inn is the preferred restaurant for entertaining visitors. Alcoholic beverages are not reimbursable.
The following details, according to Internal Revenue Service regulations, must be documented in order to be a viable business expense.
- Place and description of entertainment
- Purpose and nature of discussion
- Names, titles and business relationships of all persons attending
- Receipts are required for reimbursement and details must be written on each receipt or described in the appropriate area of the Expense Report if reimbursement is needed.
Individuals within the University will not be reimbursed for meal or entertainment expenses with other employees. There is no provision for expenditures to celebrate special occasions such as Secretaries’ Day, birthdays, etc.
A department manager may apply an allowance to those who have approval to work extreme hours. An employee is eligible for a food allowance of $20 for dinner or $10 for lunch when working three hours overtime into or past meal times or five hours on holidays or weekends. This allowance is limited to actual expenditures.
Incidental expenses such as personal recreation, movies, and snacks or any other expense not directly related to, or necessary for, the performance of the travel assignment will not be reimbursed. This includes personal travel while on official University business, and travel expenses for family members.
A traveler who loses a required receipt should seek a duplicate. When an acceptable duplicate is unobtainable, the traveler should submit a statement itemizing the expenditure with the Expense Report.