Some vendors may have multiple accounts if they have different addresses for receiving payments versus Purchase Orders or are paid in different currencies. With the exception of 99-series One Time Account vendors, the first digit of the 6-digit vendor number identifies the ‘currency’ they want to be paid in. Regardless of where the company is located, the vendor account selected must align with the currency indicated on the invoice.
1xxxxx = CAD Currency
3xxxxx = USD Currency
4xxxxx = All other (foreign) Currency
|OTA (One-time Only) vendor accounts:
990001 = CAD Currency
990002 = USD Currency
990003 = All other (foreign) Currency
IMPORTANT: Using the incorrect vendor number for the currency the company is requesting (i.e. attempting to pay a USD vendor in CAD) will result in the cheque not being generated.
If the vendor account is not available for the currency you need to process the payment/Purchase Order, request a vendor number set-up by Procurement Services. Visit procurement.utoronto.ca to learn more.
To determine whether to use an OTA vendor account, or to request a permanent vendor account, please visit the Knowledge Centre article.