Introduction: Many payments to the University are now made by electronic means. These payments are made to one of the accounts established for this purpose and the distribution of funds to specific accounts is administered by the University Treasurerís Office. There are several accounts, which receive these funds. There is an account for each campus as well as one specifically for Grant & Contract payments on the Amherst campus.
Originators: Those who currently pay electronically are mainly federal government such as: US Fish & Wildlife, Office of Naval Research, NASA, USDA, Defense Finance & Accounting, US Geological Survey, and industry sponsors. The Amherst campus is interested in increasing electronic payments form non-federal sponsors.
Set Up: In order to pay by electronic means, the originator requires information from the University (bank name, account #, routing #) and the University requires that the bank have originator information to handle payments which arrive. This is accomplished by supplying the originator with a form completed by the bank (we supply to University Treasurer) entitled: "Payment Information Form for Direct Deposit Payments: ACH Vendor Payment System".
Receipt of Payment: Each morning the Treasurerís Office sends to Research Receivables a list by fax of any payments received that morning. This list is reviewed to identify account #, award #, originator amount or any other information which may help in identifying the correct destination for the amount. Usually, the Aging Reports are reviewed to help identify an amount due (must first determine sponsor as this is an indicator of which accountant report to look at). The GCDL (Research Accounting download for the aging reporting is often used and can be sorted by description to review award #. If the amount appears to be for an "AS" account, a listing of "AS" billings is provided on the shared drive and is sorted by dollar amount. If the amount cannot be readily identified, the accountant is consulted. If the amount is a payment for an award not yet received from OGCA, the money is deposited to the Unclassified Receipts account.
Reply to Treasurerís Office: As quickly as possible, the deposit data, which includes the appropriate research account number(s) for the deposit, is faxed to the Treasurerís Office. There is form letter. A request is made to send a copy of the journal entry to the appropriate accountant. If the amount cannot be identified, a reply is provided to the Treasurerís to that effect.
Copy to Accountant: A copy of the fax from the Treasurersí Office is provided to the appropriate accountant with the account number, which was identified.
Effect on Aging Reporting: It is important that replies are made quickly to the Treasurerís Office and that the journal entries are processed in a timely manner. If there are delays, it is difficult for the accountant to keep track of payments when doing follow up with sponsors for payment. At month end, if the payments are not posted, the billings will show as overdue and increase the bad debt reserve on the monthly Aging Reports.
Contacts Regarding Electronic Payments:
In Grants and Contacts Ann Koski, Receivable Manager at (413) 545-1117, by fax at (413) 545-4233 or by e-mail at email@example.com. Treasurerís Office contact Theresa A. OíNeil at (413) 578-2056, by fax at (413) 587-2067 or by e-mail firstname.lastname@example.org.
Last Updated: 12/30/03