Payment Processing Schedule

Supplier Payments

• Based on the invoice date and payment terms of the supplier.
• Checks are written so they reach suppliers within the terms of payment (assumes invoice is forwarded to accounts payable timely).
• Direct deposit payments are issued daily within the terms of payment (assumes invoice is forwarded to accounts payable timely).

Student Payments*

• Payment terms are immediate
• Checks are cut Wednesday following processing of Request for Payment in Accounts Payable, includes student refunds.
• Direct deposit payments are issued daily with the exception of student refunds, which continue to be processed only on Wednesdays.  For those students that are setup for direct deposit their student refund will be issued on Wednesday as well.
• This does not include Payroll. For payroll schedules click here.

Employee Payments*

• Payment terms are immediate.
• Checks are cut Wednesday following processing of Request for Payment or Travel Reimbursement in Accounts Payable.  
• Direct deposit payments are issued daily.
• This does not include Payroll. For payroll schedules click here.

When anticipating payment dates, consider adequate time for campus mail and processing by staff in the Office of Business Operations.  The goal of accounts payables is to process all disbursements within 7 calendar days of receipt in our office assuming appropriate documentation and approval.

*Periodically circumstances require a payment sooner than the next scheduled payment cycle. In these situations, please make reference to this need on the Request for Payment form or contact an accounts payable staff member.  A link is provided below for your convenience.
http://www.vpaf.uni.edu/obo/purchasing/staff.shtml