Methods of Payment

Invoices are typically paid by either check or Paymode.  In some cases other payment methods are required when working with a foreign vendor. Regardless of the type of payment mechanism used - all invoices must be sent to AP with a PO/PR number.

Guidelines

  • If payments are made to an individual where no invoice exists - please use the Payment Request Invoice Template
  • Payments made by check and Paymode are automatic and require no additional work for the department
  • Wires and drafts require some extra steps and should allow for additional days in processing
  • For further info on payment methods, visit the Supplier Payment section of the B2P FAQs: https://b2p.procurement.harvard.edu/faqs-0

Note: Form requests for wires and drafts must be the cover sheet of the documentation sent to AP for processing.

  • As of Nov. 12, 2020, the University no longer cuts physical checks; this work is done by a third party vendor. Visit the B2P Blog post on Check Printing Changes.  Where possible, electronic payment methods are preferred over payment by check. 
  • Checks are cut by a third party vendor. You must allow 3 business days from payment date for checks to arrive on campus. Same day checks are no longer available.
  • Physical pickup of checks is strongly discouraged and subject to approval by Accounts Payable
  • Checks are cut on Mondays and Wednesdays based on vendor payment terms (typically Net 30 - 30 days after the invoice date).
    • Payments to individuals always have payment terms set to immediate.  
  • Checks that require enclosures: If a department wants to send additional documentation with a payment, use the Special Handling menu options in Buy2Pay to send the check to the department. The department is then responsible for sending the check with the enclosures to the vendor themselves. 
  • If you need to stop payment, void, reissue, or request a copy of a check, please use the Check Inquiry Form to request these services.
  • Harvard University's Accounts Payable department utilizes the Paymode-X®service offered by Bank of America Merrill Lynch to replace paper checks and other traditional electronic payments
  • It is the vendor’s responsibility to provide and maintain their banking information with Paymode, not AP
  • Vendors who have signed up to receive electronic payment via Paymode have their vendor sites programmed to default to electronic payment
  • Paymode payments are processed on Tuesdays and Thursdays based on vendor payment terms (typically Net 30 - 30 days after the invoice date)
  • Our wires generate from Western Union (foreign Currency). Please follow these formatting guidelines when filling out the wire form.
  • When processing our Foreign Currency wires, at times, there tends to be a lag when the HOLD  is released although the funds have already been sent out
  • Foreign Wires are processed on Tuesdays and Thursdays
  • Payments are made on immediate payment terms, no non-standard check processing forms are necessary
  • To request a foreign wire fill out the Wire Transfer Authorization Form and turn in original documents with signature (no copies) to the AP address on the form
    • Make sure the form is the cover page to your invoice payment
    • The forms and invoices must contain the PR or PO number for payment
    • The PO/PR must have a 10% increase to allow for foreign currency fluctuations. Only actual rates at the time of the wire will be charged.  The remaining amount may appear on the Committed Funds Report but can be closed by sending a request to AP_Customerservice@harvard.edu.
  • Foreign Drafts are processed on Tuesdays and Thursdays
  • Payments are made on immediate payment terms, no non-standard check processing forms are necessary
  • Data entered into HCOM such as the business purpose does not get fed into the wire information sent to the bank
  • To request a draft - use the Draft Authorization Form and turn in original documents with signature (no copies) to the AP address on the form
    • Make sure the form is the cover page to your invoice payment
    • The forms and invoices must contain the PR or PO number for payment
    • The PO/PR must have a 10% increase to allow for foreign currency fluctuations. Only actual rates at the time of the wire will be charged.  The remaining amount may appear on the Committed Funds Report but can be closed by sending a request to AP_Customerservice@harvard.edu.

Zelle Electronic Payments for US Individuals

Zelle is an electronic payment method for individuals with a U.S. based bank account. Individuals with a Zelle account with their bank can choose Zelle as their preferred payment method in their Buy2Pay Supplier Portal profile. Zelle direct deposits to individuals are processed on MondaysWednesdays, and Fridays.

Please note: departments cannot specify Zelle on behalf of an individual during the supplier portal registration process. This step must be done by the supplier.

Individuals without a U.S. based bank account are not eligible for Zelle, and should be paid by check. Companies are not eligible for Zelle, but Harvard University offers Paymode-X for electronic payments to companies.