The Accounts Payable Office seeks to provide professional and Christ-like service to the University student body, faculty and staff through courteous and accurate service in processing vendor invoices, employee expense documents, and purchasing cards. Please review the sections on this page for our various policies.
DELIVERY TO ACCOUNTS PAYABLE
Invoices and Check Requests may be mailed via interoffice mail to ADM 140, scanned and emailed to email@example.com, or faxed to extension 4342. To ensure that all discounts are taken and that invoices are processed by due dates, it is critical that invoices be forwarded to Accounts Payable as quickly as possible.
PROCESSING TIME/PAYMENT TERMS
Properly authorized and coded paperwork will be processed within five (5) business days of receipt or by due date. The University’s payment terms are net 30 for all vendors. Departments are not authorized to negotiate different terms or make special arrangements concerning payment terms. Variances from this policy can only be approved by the VP of Finance.
FREQUENCY OF CHECK RUNS
Checks are issued twice a week on Tuesdays and Thursdays. If checks must be printed outside of the normal processing schedule, the department requiring the additional check must have approval from the Accounts Payable Manager or VP of Finance. All checks will be mailed unless otherwise stated.
A full, legible signature of the individual authorizing payment is required. Initials will not be accepted. Only those individuals having budget responsibility may approve expenditures. When a business purpose is not evident for any item purchased, a brief description should be added. Expenses must be coded with the correct cost center and account number. Please see the Chart of Accounts for account codes and descriptions.
The University is tax exempt for purchases made within the Commonwealth of Virginia only. Buyers are required to inform suppliers of our tax status and ensure that we are not charged for sales tax. The exemption is not applicable to taxable services such as travel, events, entertainment, catering, etc. Please reference the University’s Tax Exemption Form.
Please do not destroy voided checks. If a check is no longer needed, send to the Accounts Payable Office for tracking purposes. If a check needs to be reissued, please contact the Accounts Payable Manager to submit your request.
Expense reimbursements should be requested using the Expense Report form and completed by following the instructions within the document. Attach appropriate expenditure receipts to the Expense Report. Expenditures will not be reimbursed without appropriate receipts.
Expense Reports should be submitted no later than five days after each trip ends or every two weeks if expenditures are incurred on an ongoing basis. Expenditures submitted more than sixty (60) days after the trip has occurred or item is purchased will not be reimbursed.
Reimbursements are processed within five (5) business days and will be direct deposited into the same bank account employees set up with Payroll unless otherwise specified. To change your direct deposit banking information, please complete the AP Direct Deposit form.
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. Please note that Cash Advances require a minimum dollar amount of $150 and are reserved for travel expenses that need to be paid by cash such as per diem, tolls, taxis, etc. Other expenses should be paid with a University credit card or submitted on an Expense Report for reimbursement.
Employees should allow a minimum of 5 business days from date of submission for processing. Advances will be direct deposited into the employee’s bank account on the check run day closest to the traveler’s date of departure.
Employees who receive a Cash Advance must satisfy the advance with an Expense Report within 5 days of returning from the trip. No further advances or reimbursements will be made until the outstanding advance has been reconciled.
Original Invoice Required
It is the responsibility of the department to provide an original invoice and ensure duplicate copies are not submitted to Accounts Payable. Payment will not be made from anything but an original invoice. Packing slips and statements should not be submitted for payment.
Do not submit a Check Request with an invoice. All authorizations and account coding should be made directly on the face of the invoice. Please avoid writing on the remittance portion of the invoice.
Form W-9 Required
A completed Form W-9 must be on file in the Accounts Payable office for all vendors before payment can be made. The Accounts Payable team will be responsible for obtaining W-9 forms from new vendors.
Supporting documentation must be submitted with all Check Requests for vendors. The back-up paperwork should verify who the check is made payable to, the remit to address, the amount due, and the business purpose.
Remittances Requiring Enclosures with Checks
Any forms to be included with the check when mailed should be attached to the Check Request. The Accounts Payable team will be responsible for enclosing the document with the check.
Purchases costing more than $1,500.00 require a Purchasing Requisition form prepared by the cost center and submitted to the Purchasing Department for approval. The Purchasing Office will prepare a Purchase Order from the information on the Purchase Requisition form and send it to the vendor or supplier. Please see the Purchasing Office site for procedural details.
It is extremely important that any payment for work done by a student or employee of the University be processed through Payroll rather than Accounts Payable. Payments in excess of $600 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 contact the Accounts Payable Manager for clarification.
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. Instead a contract for services rendered should be drafted.
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 Vice President of Finance, or the Executive Vice President if a school is making the request.
Under IRS regulations, honoraria payments are considered taxable income. Therefore, as a matter of policy, the recipient of an honorarium payment may not transfer the payment to another organization or individual. If the honorarium recipient wishes to transfer the payment to another organization or individual, he or she must receive the money and then donate it.
INDEPENDENT CONTRACTOR AGREEMENTS
Before preparing a contract, please use the following prerequisites for an independent contractor to ensure the individual should not be paid as an employee of the University:
- 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 periodically 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.
- 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.
When drafting an Independent Contractor Agreement, please keep the following items in mind:
- Please type the information into the template rather than handwriting it.
- The contract should be printed on university letterhead.
- The contract should be completed and submitted before the event or work begins.
- Please ensure that pay dates are not prior to the date the contract is submitted to Human Resources. Remember to provide ample time for review and approval of the submitted contract in relation to the listed payment dates, as well as time for payment processing in Accounts Payable following approval. Please note that payments for contracts received late due to the contractor’s error will be delayed as stated in the contract.
- All contracts not in compliance with the guidelines listed above will be returned for correction.
|Independent Contractor Agreement (Revised) Template||This template is for general use. Please type the information into the template rather than handwriting it.|
|Independent Contractor Agreement Template||This template is to be used when the contractor is performing services outside of the United States|
|Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding (W-8BEN) Instructions & Form.|
W-8BEN-E Instructions & Form.
|IRS Tax form W-8BEN is required for non-resident aliens performing a service outside the United States. Parts I & III must be completed. IRS Tax form W-8BEN-E must be completed by foreign owned companies doing business with Regent University.|
Please submit all independent contractor agreements for individuals to the Vice President for Human Resources for review and approval prior to their becoming effective. Please submit all independent contractor agreements for companies to the Director of Purchasing and Administrative Services for review and approval prior to their becoming effective. Independent contractor agreements are not maintained in Human Resources. Once approved and signed, they are forwarded to Accounts Payable for processing.
A full, legible signature of the individual authorizing payment is required.
Only those individuals having budget responsibility or individuals to which that responsibility has been delegated may approve invoices and 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.
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. See Chart of Accounts for reference.
- Include a full, legible approval signature on paperwork prior to submitting to Accounts Payable for processing.
All requests being paid from research grants should be forwarded to Academic Affairs for approval. Academic Affairs will forward the requests to Accounts Payable for processing. Questions on grants may be directed to Academic Affairs at extension 4331.
The following details, according to the Internal Revenue Service regulations, must be documented in order to be a viable hospitality business expense:
- Place and description of entertainment
- Purpose and nature of discussion
- Names, titles, and business relationships of all persons attending
- Itemized receipts (not just the credit card 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.
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.
Employee spouse meals are normally subject to income taxes to the employee and therefore are prohibited. However, sometimes a job candidate or official guest is accompanied by the spouse. In these cases an employee spouse’s meal is an allowable cost as long as it is approved in advance by the Executive Vice President.
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 non-reimbursable.
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’s Day, birthdays, etc.
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 only be given as prizes or giveaways for students at events or as incentives to research participants in a particular study. Also, gift cards may not be used as a form of honoraria for employees.
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 purchased.
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.
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, as well as a designated department head, must update the disbursement log . 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.
Regent University will reimburse its employees for authorized expenses incurred while fulfilling their responsibilities as employees after proper University procedures are followed.
Expense reimbursements should be requested using the Expense Report form. Attach appropriate expenditure receipts to the form and submit to Accounts Payable for processing. Expenditures will not be reimbursed without appropriate receipts.
Expense Reports should be submitted no later than five days after each trip ends or every two weeks if expenditures are incurred on an ongoing basis. Expenditures submitted more than sixty (60) days after the trip has occurred or item is purchased will not be reimbursed.
MISSING RECEIPT FORM
Receipts must be supplied to support all expenditures with the exception of mileage, per diem meals, and gratuities under $10/day. If a receipt is lost, the traveler is encouraged to seek a duplicate. When an acceptable duplicate is unobtainable, the traveler should submit an approved Missing Receipt Form with the corresponding Expense Report or Master Card Reconciliation.
TRAVEL REQUESTS/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 return or satisfy the advance with an Expense Report before a new advance for the next trip can be processed. Cash Advance monies not returned after sixty days of issuance will be added to the employee’s taxable income or deducted from the employee’s paycheck.
When making travel arrangements, employees should use the most economical means of travel. When travelers interrupt their business travel or deviate from the direct route for personal convenience or personal leave, they will be reimbursed only at the rate for uninterrupted travel by the most direct route.
For local travel, employees may reserve the University Camry or use a personal vehicle and request mileage reimbursement through submission of an Expense Report.
Mileage is reimbursed at $.56/mile for business related travel when using a personal vehicle. This includes transportation from home or work to the airport. Routine transportation to and from work is not reimbursable. An explanation of mileage is required and must be recorded with individual trip locations and number of miles traveled on a Mileage Log and submitted with an Expense Report.
OUT OF THE AREA TRAVEL
For out of town automobile travel, employees must determine whether renting a car 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 the car rental standard rate plus gas or the mileage reimbursement rate for one’s own vehicle. If it’s determined that driving one’s personal vehicle is the cheapest option, 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, reimbursement is limited to an amount equivalent to an airline coach class fare available at least 14 days prior to the trip. Written proof (online quote from airline) must be provided. Enroute expenses that would not have been incurred with airfare (ie lodging) will not be reimbursed.
Please reference the Purchasing Office site for procedural guidelines when making airline and rental car arrangements for official university business. Please also review the Travel Insurance and Accident Information before traveling on university business.
Any person planning international travel must obtain approval from the appropriate Vice President prior to making any financial commitments related to the trip. A Travel Request Form must be completed and signed by the appropriate Dean or Admin Dean and sent to Accounts Payable for processing.
Staff and faculty must also complete the online approval form, which is approved by Academic Affairs.
Employees must not purchase any other type of traveler’s insurance because the University has adequate coverage. All full-time employees with benefits now have Travel Assist as an added value from the life insurance carrier, AIG American General. This program provides access to information and referral services for members 24 hours a day, 365 days a year by calling the AIG International Services Worldwide customer care center. Some services are no charge and some have a fee. If you would like a flyer, please stop by Human Resources, ADM 111.
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.
Fees and expenses incurred for the purchase of passports and visas for university business travel will be reimbursed at a rate of 50% for passports and 100% for visas. Expenses for reimbursement or paid with university purchasing cards must include a receipt for the passport or visa and must be fully documented.
When expenses are charged in a foreign currency, please record the amount in US dollars on the Expense Report form. You may submit a copy of your credit card statement reflecting the US dollar amount charged, include a currency exchange receipt, and/or use the International Currency Log with your Expense Report.
- The University’s policy is that travelers fly coach class, and seek the best prices available given time and route constraints. Frequent flyer memberships should not influence travelers to select a flight that is not the lowest priced flight available.
- Travel insurance is not allowed on US domestic flights. The university may pay choice seating on international flights when approved in advance by the Executive Vice President.
- Choice or preferred seating is only allowed when there are no other seats available.
- Early Bird Check in is not a reimbursable expense.
- Inflight wifi internet is not a reimbursable expense.
- The original passenger receipt or e-ticket receipt is required for reimbursement. A boarding pass or travel itinerary are not valid for reimbursement.
- When a trip is canceled after a ticket has been issued, the traveler should inquire with the issuing agent about using the ticket for future travel or processing a refund.
- Airline travel voucher and frequent flier mileage are not reimbursable to employees for travel in connection with university business. The university does not purchase airline voucher or coupons from employees.
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 and schedule of your meeting/conference, it may be necessary to travel the day before the meeting begins and/or stay the night the meeting ends. If that is the case, you will be reimbursed for the costs of lodging and meals for those days.
- Any decisions related to traveling the day before or staying the night the meeting ends should be documented. As a general rule, travelers should never travel earlier than the day before or the day after a meeting/conference.
- 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 conference where rooms are a part of the package.
- For instructions and procedures on making reservations for guests of Regent University at Founders Inn, click here.
Laundry/Dry Cleaning service will be reimbursed when laundry needs to be done during the course of a business trip that lasts longer than seven days.
- 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. While the cost of any one meal may exceed the allowance, you may economize on some meals to offset the more costly ones.
- Please note, meal tips are included in the flat rate given and should not be expensed separately.
- If you receive a sufficient meal provided by the conference or the hotel, please do not also claim per diem for that meal.
- It is expected that for partial days of travel at the beginning and end of a trip, the employee will utilize the per diem rates for the meals required away from home. The following schedule will help you identify when you should claim a per diem meal on travel days:
|Breakfast||$8.00||Must depart home prior to 7:00 AM|
|Lunch||$10.00||On Departure: Must depart home/Regent prior to 11:30 AM|
On Return: Must return home/Regent after 1:30 PM
|Dinner||$20.00||On Departure: Must depart home/Regent prior to 5:00 PM|
On Return: Must return home after 7:00 PM
- A department manager may apply an allowance to employees 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 meals times or five hours on holidays or weekends. This allowance is limited to actual expenditures.
- You may not pay for per diem meals with a Purchasing or Travel card. Your per diem meal cost can be paid to you through a cash advance requested before the trip or reimbursed after the trip through an Expense Report.
- In the event an employee entertains for business purposes while traveling, the employee should include his/her meal in the total cost rather than claiming per diem separately. Hospitality meals can be paid for with a University credit card. A receipt must be submitted that also documents the people in attendance and the business purpose of the expense. See the Hospitality Policy for detailed procedures.
Miscellaneous reimbursable expenses include items such as tolls, postage, faxes, baggage handling fees, valet expenses, tips for porters, bellhops,& taxi drivers, etc.
- If parking at Norfolk International Airport, please review the map showing the short term and long term parking lots. 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. When parking at the airport overnight for Regent travel, park in the long term lots.
- The long term rates are $10/day and the short term rates are $24/day. The University will only reimburse employees for the long term rate of $10/day.
- Reasonable costs of long distance telephone calls and messages while traveling are reimbursable, but must be described and cannot exceed $5/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, as calls from hotel rooms are very overpriced. Airtime and roaming charges for business related calls are reimbursable when other options are unavailable.
Please refer to the Travel Insurance and Accident Information found on the Purchasing Office website.
- Alcoholic beverages; Mini-bar charges
- Airline club membership dues; Airline preferred seating fees or upgrades
- Airline tickets purchased with frequent flyer miles
- Airline choice seating on domestic flights, except for when there are no other seats available.
- Auto and Travel insurance
- Child care or Pet care services
- Delinquency fees/finance charges for personal credit cards
- e-Toll service or Toll Pass programs offered through car rental companies
- Excessive baggage fees for items that could be shipped to an event instead
- GPS devices (for personal or rental car)
- Incidental expenses such as personal recreation, movies, or snacks
- Inflight wifi internet
- Luggage purchases
- Membership fees for any travel “cost-reduction” programs
- Parking or traffic tickets, personal auto repair, or other fines
- Personal travel expenses while on official University business
- Premium seating on airline flights (limited recline, extra room, etc)
- Prepaid fuel with rental cars
- Rental car upgrades
- Travel expenses for family members
- The University does not pay for other family members to attend conferences unless that person is a university employee and attends the conference/meetings for professional reasons. Any expenses of a personal family member should be deducted from the charges submitted to the University for reimbursement.
- Any expense not directly related to, or necessary for, the performance of the travel assignment.
Q. When will I get my check?
A. All checks are mailed within five business days of receipt of invoice, expense report, travel request, check request, etc.
Q. Can I pick up my check?
A. All checks are mailed unless otherwise noted on the request. If it’s noted on the request that check pickup is needed, the Accounts Payable office will call you when the check is ready.
Q. What do I need to turn in to be reimbursed?
A. Original receipts, not copies, should be turned in. If something is paid by check with no receipt, a canceled check is adequate backup. For more details, please refer to the travel reimbursement policies or expense report instructions.
Q. For what purchases do I need to provide a business purpose?
A. Any purchase for which the business purpose is not evident. Meals, airline tickets, mileage, car rentals, hotels, and flower purchases are examples.
Q. Why do I have to provide receipts if the request has been approved by department?
A. For auditing purposes, we are required to have documentation on all reimbursements made by Regent University.
Q. How do I find out what a payment was for on one of my accounts listed in the General Ledger?
A. Send an e-mail to Teresa Foley, Accounts Payable Manager, at firstname.lastname@example.org with a complete listing of your questions. A response will be e-mailed back to you.
Q. How do I find out if my check has been processed?
A. Refer to your department’s monthly reports. If this does not show the information you need, email email@example.com.
Accounts Payable Manager
Sales & Use Tax exemption questions
1099 & W-9 questions
General Ledger account reconciliations
Accounts Payable journal entries
Senior Accounts Payable Specialist
|Vendor Invoices F-Z|
Regent Purchasing Cards
Accounts Payable Specialist
|Vendor Invoices A-E|
Travel and Cash Advance Requests
Regent Travel Cards