The University issues payments to vendors and expense reimbursement claimant using a variety of payment methods, such as cheque, draft and electronic funds transfers.
The clearing/transmission dates for each payment depends on the Payment Terms (e.g. 35 days net, 7 days, 20 days), which defaults from the Vendor Master Record/Business Partner and the Invoice Date.
Here is a table that outlines when various payment methods typically get issued at the University:
| Transaction | Payment Method | Currency | Issue/Transmission Date |
| Invoices, Expense Reimbursements, Refundable Deposit Refunds | Cheques (CAD/USD)
Drafts |
CAD
USD EUR (Euro) JPY (Japanese Yen) HKD (Hong Kong Dollar SGD (Singapore Dollar) |
Wednesdays |
| Invoices | EFT | CAD | Tuesdays |
| Expense Reimbursement Direct Deposits (ERDD) | Direct Deposit | CAD | Tuesdays and Fridays |
NOTE – These transmission dates do not apply to Outgoing Wire Transfers. To learn about the requirements and process for Wire Transfer payments, please see this article or watch the Lunch & Learn on this topic.
Watch this simulation to learn how to determine the status of a cheque, draft or electronic funds transfer (EFT).
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