3-Ways to Pay for Goods or Services

• Method 1: Make a Credit Card Appointment (Please Review Fully)

  Using a credit card for club purchases is preferred because it streamlines payments by processing transactions immediately, simplifies expense tracking and reporting, and ensures adherence to university policies. It also facilitates direct vendor payments, eliminates complex reimbursements, and offers better budget control, ultimately enhancing financial management for clubs.

  To take advantage of these benefits, you can schedule a 30-minute appointment to use the OSI credit cards. Use the online Purchase Request form to initiate your purchase, which requires details such as the item or service, quantity, estimated cost, purpose, and preferred vendors. This form ensures that all purchases are necessary, within the budget, and compliant with university policies. 

  Follow the steps below to make an appointment.

  1. Go to WesNest
  2. Select your club or group
  3. Click on Manage OrganizationGo to Organization Tools and select Finance
  4. Select the blue button Create Request
  5. Select Create Purchase Request
  6. Complete and submit the form
  7. Then, you must make an appointment to meet with a OSI staff member
     • This step is required so we can finalize all details and to ensure that you are getting the right goods and services for your organization.

   

  Credit Card Submission Requirements

  1. Complete the Online Purchase Request Form: Fill out and submit the Purchase Request Form through WesNest.
  2. Upload Your Group’s Finance Ledger: Ensure that your Group’s Finance Ledger is uploaded as part of the process.
  3. Separate Relevant Information: Distinguish between travel expenses (e.g., airfare, lodging, ride-sharing services) and regular goods and services (e.g., equipment, supplies). Upload this information accordingly.
  4. Submit Vendor URL: Provide the URL of the vendor’s website where the items will be purchased.
  5. Adhere to the Two-Transaction Rule: Comply with the policy of a maximum of two credit card transactions per appointment.
  6. Respond Promptly: Address any inquiries regarding your credit card request in a timely manner.
  7. Cancel Appointments Promptly: If you cannot attend a scheduled meeting, cancel your appointment as soon as possible to allow other organizations to sign up.
  8. Meet with OSI Staff: Schedule and attend a meeting with OSI staff in Usdan 102.

   

  Credit Card Requests That Cannot Be Processed

  The OSI staff will not be able to pay for the following goods or services due to fraudulent credit card transactions. 

  • Air Bed and Breakfast (Airbnb)
  • Annual Subscriptions
  • Items or services that cannot be purchased due to non-compliance of university, OSI, or SBC policies and/or procedures.
• Method 2: Submit an Invoice for Payment

  You can submit an invoice from the vendor you are using to purchase goods or services for your student organization. You must complete the online financial request form and upload the invoice or receipt. If you are working with a new vendor or are new to your role as a financial manager, please contact the Office of Student Involvement at involvement@wesleyan.edu to verify if the vendor is listed in the university's financial system. If a W9 form is required, OSI will send you a link. Please instruct the vendor to complete the form using this link. Additionally, you should follow the required steps to pay vendors for services or goods.

  1. You must verify that you have money to cover the cost in your group’s account
  2. You must verify if the vendor is listed in Workday
  3. You must verify if a valid invoice or receipt was provided by the club member 

  We will be unable to accept the financial submission if all three requirements are not met.

• Method 3: Pay from Personal Funds

  Wesleyan University operates on a reimbursement basis for expenses incurred by individuals. This means that, as a standard practice, you are required to pay for most items and services using your personal funds. The university will then reimburse you for these expenses, but this reimbursement process is contingent upon providing a clear, legible, and itemized receipt. This receipt must detail how you paid for the materials or services and must include all pertinent information to validate the expenditure.

  It is important to note that the university has specific policies regarding what types of transactions are eligible for reimbursement. Specifically, the university is unable to process reimbursements for expenses related to services or rentals from any type of business entity, including those classified as Limited Liability Companies (LLCs). Additionally, reimbursements cannot be issued for payments made through peer-to-peer mobile payment applications, such as Venmo, CashApp, Zelle, and other similar platforms. These applications are categorized as third-party payment processors, and due to university policy, expenses paid through these systems are not eligible for reimbursement.

  Please ensure that you adhere to these guidelines when submitting reimbursement requests to avoid any delays or issues with processing.

  1. upload valid receipt, invoice, and/or W9 Form (if needed)
  2. Submit the form

Criteria for Valid Receipts and Invoices

• What are Illegible or Invalid Receipts

  Before you can verify if receipts, invoices and other financial documents are valid, you need to know what you are looking for.

  • Illegible receipts are difficult to see, the print is too small, the attachment is too dark, or part of the receipt has been cut/torn off.
  • Invalid receipts are missing important data such as an itemized list of goods, payment date, payment amount, payment method or vendor name/address.
  • Statements, order forms/slips and quotes are invalid invoices and cannot be accepted.
• Valid Receipt Criteria

  A valid receipt needs to include the following five IRS-required elements:

  1. Company Name
  2. Date of Purchase
  3. Itemized List of Goods
  4. Payment Method
  5. Payment Amount

  NOTE: The most common mistake for most receipt submissions is not including the proof of purchase referred to as the payment method. The university requires proof of purchase – you are simply showing them how you paid for the order. Therefore, there are times when you will need to provide two financial documents for a valid receipt; the order form/slip that shows the itemized items and the credit card receipt showing proof of payment.

• Accepting Foreign Receipts

  Some club members or advisors purchase goods from foreign countries. The University can accept foreign receipts. Have the members of your group follow the steps below.

  • The individual seeking reimbursement must write out the items listed on the receipt in English on a separate piece of paper with the price of each item.
  • Attach it and the original receipt together.
    • Note: There are some businesses that will automatically print the information in both English and the foreign language.
  •  Also, the individual being reimbursed must convert the payment amount from the foreign receipt into US dollars.
    • They can do this by using an online converter application. The date on the converter app must match the receipt date.
  • Then, they should print out the three financial documents and give it to the financial manager (FM) of the group so they can complete a FRF.
• Valid Invoice Information

  Wesleyan University’s financial policy prohibits the submission of documents labeled as “quote,” “statement,” or “order form” from a business entity for payment to vendors or suppliers. These documents are considered preliminary financial documents and do not qualify as legitimate invoices.

  • Quotes: A quote is an estimate provided by a vendor outlining potential costs for goods or services. It is not a confirmation of a transaction but a proposal, and thus, does not serve as evidence of an actual purchase or expenditure.
  • Statements: A statement summarizes transactions over a period and often shows the balance of an account. It lacks itemized details of individual purchases or payments, making it unsuitable for financial documentation.
  • Order Forms: An order form is used to place an order for goods or services. It indicates the intended purchase but does not serve as proof that the transaction has been completed or paid for.

  For financial purposes, a valid invoice must provide detailed information about the completed transaction, including an itemized list of goods or services, payment details, and vendor information. Since these preliminary documents do not offer such specifics, they cannot be accepted. If you receive any document labeled as a quote, statement, or order form from a club or group member, please reject it and request a valid invoice.

• Valid Invoice Criteria

  Information that should be clearly noted on a valid invoice:

  1. Name and address of vendor
  2. Remittance address
  3. Invoice date
  4. Detailed description of purchase or service performed
  5. Invoices submitted by email, fax and .pdf are acceptable if that is the standard mode of delivery for the vendor and no other original exists.  It is helpful if the vendor can include a statement on the invoice to indicate this mode of delivery (e.g., “original submitted via fax”).

  The following examples are not acceptable supporting documentation:

  • Packing slips
  • Absence of beneficiary name, logo, address information etc.
  • Account statements
  • Credit card statements

Financial Request Submission: Requirements and Process

Proper submission and processing of Financial Request Forms (FRFs) are crucial for ensuring timely and accurate payments while upholding financial integrity and compliance with university policies. Following these procedures helps avoid delays, errors, and rejections, thereby facilitating a smoother financial management process.

Pre-Submission Requirements for Financial Requests

Before Financial Managers can submit a Financial Request Form (FRF), several crucial requirements must be met to ensure that all documentation is complete and properly prepared. These pre-submission steps are essential for verifying that all necessary information is accurate, which helps prevent processing delays and ensures adherence to university policies.

Steps for all financial request submissions for payment or reimbursement to an individual or company are:

1. Verify the amount of funding your group currently has.
2. Verify the payment receiver has filled out the Workday Supplier Registration Form
3. Verify if receipts and invoices are legible.
4. Verify if receipts and invoices are valid.
5. Verify if the date on the receipt/invoice is within the current fiscal year.
6. Verify if the vendor is categorized as a Limited Liability Company (LLC). If the vendor is categorized as an LLC, do NOT accept the receipt for reimbursement.

Steps for non-Employee and Outside Contractor financial requests:

1. Verify the amount of funding your group currently has.
2. Verify the payment receiver has filled out the Workday Supplier Registration Form
3. Verify if receipts and invoices are legible.
4. Verify if receipts and invoices are valid.
5. Verify if the date on the receipt/invoice is within the current fiscal year.

FRF Submission Process and What to Expect

When you submit a Financial Request Form (FRF), several key steps occur in the processing and review of your request. To ensure you can track the status of your submission effectively, it is essential to keep WesNest notifications turned on. Here’s a detailed overview of the process:

• If You Process an FRF and It’s Approved: 
  1. Confirmation Message:
     • After submission, you will automatically receive a confirmation message from OSI via WesNest.
     • Subject Line: [External] Form Submission Confirmation: Financial Request Form (Non-Employee and Outside Contractors) - SPRING 2024
  2. Review and Processing:
     • OSI staff will review and process your submission during the business week.
     • Processing Time: If all documents are correctly uploaded and there are no errors, expect processing to take 3 to 5 business days or less.
  3. Final Approval by Accounts Payable (AP):
     • Once reviewed by OSI, your submission will be forwarded to Accounts Payable for final approval.
     • Possible Delays: AP may request additional documentation or clarification, which could delay the process.
  4. Reimbursement or Payment Processing:
     • After approval, the reimbursement or payment will be processed by Accounts Payable.
     • Processing Time: This typically takes 7 to 10 business days.
•  If Your FRF is Denied: 
  1. Notification of Denial:
     • You will receive an automatic denial message from OSI via WesNest.
     • Subject Line: [External] Submission Denied for Financial Request Form (Non-Employee and Outside Contractors) - SPRING 2024
  2. Review the Denial Message:
     • Open and review the message by clicking on the blue “View Submission” link embedded in the email.
  3. Correction Instructions:
     • You will be redirected to the original form where a pink message will indicate what needs to be corrected.
  4. Update and Resubmit:
     • Correct the information and re-submit the form. A green message at the top of the WesNest page will confirm successful submission. If this message does not appear, your request may not have been received.
  5. Avoid Duplicates:
     • Do not create a new FRF if your submission is denied, as this can lead to duplication and delay the payment timeline.