Wire Transfers: Domestic - Vendor ACH Information International Wire Form
Wire Transfers: Domestic - Vendor ACH Information International Wire Form
Wire Transfers: Domestic - Vendor ACH Information International Wire Form
Wire transfers are simply another method of disbursing funds and are subject to the same rules as all
other payments processed by Accounts Payable.
NOTE:
1. Allow sufficient time for the vendor to be set up in the Master Vendor File prior to initiating a
wire transfers.
2. Due to the high incidence of theft and alteration of checks in foreign countries, the University
requires the use of wire transfers to send funds abroad. U.S. dollar (USD) payments: Can be
processed in SAP either by using the Online Payment Request (FV60) or by APSSC processing an
invoice against a purchase order. The banking information for the vendor must be added to the
vendor master in order for this to happen. The forms (Domestic – Vendor ACH Information and
Foreign – International Wire Form) are needed to add banking instructions and are located on
the Accounts Payable Shared Services website. Once the banking information is added you will
be notified by APSS and you can process the FV60 Transaction.
Foreign Currency: Cannot be processed in SAP. The Foreign Currency Wire form, which is located on the
Accounts Payable Shared Services website must be completed and sent along with supporting
documentation to Accounts Payable for processing. Accounts Payable will send the currency and post
the USD equivalent to the general ledger.
**Accounts Payable Shared Service requires when converting any foreign currency payment to USD,
please submit a copy of the currency exchange rate and dollar amount from the website being used
for the conversion.** The recommended website for currency conversions is: www.oanda.com.
INTERNATIONAL WIRE OR FOREIGN CURRENCY WIRE DOCUMENTATION REQUIREMENTS
Effective 6/1/09, AP Shared Services implemented new requirements when requesting payments to
international countries. To request an international wire payment payable to a vendor, Accounts
Payable requires a copy of the vendors invoice to accompany the International Wire form and Vendor
Add/Change form. The invoice must have the required banking information needed to wire the funds
documented on the invoice. If the invoice does not indicate the banking information you will be required
to request the information from the vendor on their letterhead. If you request an international wire
payment to an individual’s account, Accounts Payable requires an official bank document which details
the required banking information along with the international wire form. A foreign currency wire
request submitted to Accounts Payable must follow the same requirements as indicated for the
international wires. Questions regarding the new documentation requirement can be sent to
[email protected].