Debit or Credit Card Facility
The Banking Section provides guidance and assistance in setting up a debit or credit card facility to allow University departments to accept payments other than via cash, cheque or wire…
The Banking Section provides guidance and assistance in setting up a debit or credit card facility to allow University departments to accept payments other than via cash, cheque or wire…
…deductions in respect to the payment, e.g. tax, Canada Pension Plan (CPP) payments, Employment Insurance (EI) payments remitting the University cost of CPP and EI. Where the University fails to…
…treatment, under the Income Tax Act, to payments made to persons providing services to the University. All payments must be processed through HRIS, except for specific exceptions listed below in…
…the delegated responsibilities are being effectively discharged. Transfer of Funds, Internal Revenues and Expense Recoveries Transfer of funds is the movement of funds from one account to another. Internal revenues…
…for external customers. Refer to the section Internal Revenues and Internal Expense Recoveries for processing charges to internal customers. If you are uncertain as to whether a customer is external…
…necessary. Such financing is obtained from a mix of internal and external funds, the origin of which will be transparent to the internal borrower. This section provides guidelines under which…
…Internal orders New internal orders could be required to track revenues and expenditures for an activity with a limited timeframe. To discuss the need for an internal order, contact your…
…Bank Account for purchases up to $500 Note: Any internal University of Toronto-related purchases will be processed via the internal revenue and expense recovery transaction in FIS by the buying…
…following sub-sections address the financial objectives and the accounting treatment for prepayments: Financial Objectives Acceptable Payment Terms Payments to Hospitals or Other Institutions to Recover Expenses Accounting for Prepayments …
…on the HST and Contact Information Payments Not Subject to HST employment income salaries wages overtime payments stipends bonuses scholarships, fellowships and bursaries Payments Subject to HST Individuals…