TYPES OF PAYMENT DOCUMENTS
Payments for services, materials, equipment and other capital assets, including interdepartmental transactions and purchases by the University from other state agencies are accomplished by one of the following methods:
- Vendor Check or EFT - All payable obligations for current operations and permanent improvement projects drawn on the Vendor bank account. Payment documents for these type checks consist primarily of purchase orders and direct vouchers.
- ACH (Automated Clearing House or Direct Deposit) - Employee expense reimbursements are credited to the same bank account designated by the employee for their payroll.
- Interdepartmental Journal Entry - Interdepartmental transactions are ordinarily accounted for as an increase in expenditures of the department receiving the materials or services and as a decrease in the department transferring the goods or services. These transactions do not generate checks and University expenditures are not inflated by such transactions. Examples of these transactions are sales and services of service departments and transfers of material and equipment from one department to another.
- Interdepartmental Transfers (IDT) - When a University department purchases materials, services or capital assets with a cost greater than $ 1,000 from another state agency or department of state government, the selling state agency issues IDT documents. Through a system of debit/credit entries posted against funds (designated accounts of the purchaser and seller) on deposit with the State Comptroller General, the University's balance is reduced and an expenditure is charged against the purchasing department's budget.
- Departmental Procurement Card-VISA - Departments use this card as payment for departmental purchases made. Using the card allows vendors a guaranteed payment at the point of sale. VISA pays each individual vendor directly, thereby reducing the amount of checks written by the University. This also decreases expenditures for late fees and lost discounts. For more information: http://www.clemson.edu/procurement