Payments and Cancellations

Checks

Once printed, checks are disbursed and mailed twice a week.

Checks are disbursed directly to the supplier at the address specified in the voucher on the “Payments” tab under “Remit To:” in the payee field

When checks are returned to Disbursements the department will be contacted, if necessary, to determine how to resolve the issue that caused the return.

For alternate handling of a check, choose the appropriate Special Payment instruction in the Invoice Header section of myUF Marketplace as follows (justification is required).

Note: You must “assign” the invoice to yourself in order to work it and request special handling.

A – No Special Handling

B – Request Express Overnight – Department provides shipping label

C – Request Check Pickup – Pickup at Elmore Hall

D – Mail to Department

E – Wires – for Wire Handling

Alternate Check Delivery

You can have the check mailed to you at your department PO Box.

Please select the correct handling option (D) and enter your name, department ID/PO Box, and contact number in the corresponding box in Marketplace.

Bank Wires

Bank wires are primarily used to facilitate the direct transfer of funds to a supplier’s bank account, typically for international payments. When processing payments in a foreign currency, the applicable amount should be converted to U.S. dollars using an approved currency conversion tool based on the exchange rate in effect on the date the payment is entered into myUF Marketplace.

Supplier Payment Requests in US dollars (Wire paid through Accounts Payable)

Coordinate with Supplier Maintenance to ensure the supplier is properly established in the myUFL system. All required bank wire information must be submitted to Supplier Maintenance for entry into the supplier record during the supplier setup process.
Review and approve the invoice in the myUF Marketplace system.
Once the voucher has been created and fully approved in myUF Marketplace, the payment will be processed as a wire transfer during the standard payment cycle in accordance with the supplier’s payment terms.

Supplier Payment Request in Foreign Currency – Banking & Merchant Services Wire Transfer

Coordinate with Supplier Maintenance to ensure the supplier is properly established in the myUFL system. All required bank wire information must be provided to Supplier Maintenance for entry into the supplier record during the setup process. Supplier Maintenance will then forward the banking information to Banking & Merchant Services to establish a wire transfer template for the supplier within the Financial Management System.
Receive the supplier invoice requesting payment in a foreign currency.
Convert the foreign currency amount to U.S. dollars (USD) using the applicable exchange rate. The invoice should then be entered into the myUF Marketplace system using the USD amount.
Review and approve the invoice in the myUF Marketplace system.
Once all required approvals have been obtained, the voucher will be generated in the myUFL system.
After the voucher has been generated, email the completed Outgoing Bank Wire Form to Banking & Merchant Services at investments@admin.ufl.edu. The Outgoing Bank Wire Form is required and must include all banking information necessary to process the wire transfer.

Payment Cancellations

Disbursements should process payment cancellations only if the payment was made or transmitted in error or is no longer justified. This is to ensure that improper or unjustified payments are not made after a check has been processed. A stop payment is not used to expedite the payment to a payee.

There is a 30 day wait period for stop payments (exceptions detailed below), therefore, delays in postal services is not a valid reason to request a stop payment.

Exceptions

Duplicate checks (void and reissue of check) – A duplicate check will be reissued only in the case where the original check is in possession of Disbursements or the department.

The payment will be voided, and the original voucher will be reissued, altered if needed per the department
The payment will be rescheduled for subsequent disbursement at the corrected amount
Return the check to the Banking area of Disbursements, PO Box 115350 or call (352) 392-1241 for assistance

Stop payment of check – Stop payments will be entered to reissue payments to suppliers or to perform payment cancellations (void). A stop payment for reissue of a check or voids will be utilized when the original check is not in the possession of Disbursements or the department.

Supplier/Payee will complete the Affidavit for Duplicate Check Form
Disbursements will wait 30 days after the original check is issued before placing a stop payment, except for the following situations:
- Theft
- Forgery
- Error in amount, payee, or address
- Payment was made but goods or services should not have been paid due to non-conforming goods/services, or non-delivery

Voids – When a payment simply needs to be cancelled and not reissued, Disbursements will void the payment and cancel the original voucher that created the transaction.