Receiving Electronic Payments

Vendors prefer to send funds electronically, which saves them time, money and paper. If your vendor has decided to go with Electronic Payments instead of Checks, please refer to the following policy and guidelines in ensuring a smooth transition.

Payments from Vendors

All ACH/EFT type transactions are processed differently and often require an authorization form to be completed. Departments should not complete these forms but instead forward them to Institutional Accounting. The form will be completed by Institutional Accounting and when applicable signed by an authorized signer on Dartmouth's bank account. A scanned copy of the document will then be forwarded back to the requesting department.

If an online account must be established with the vendor in order to receive Dartmouth funds, the originator must take responsibility in communicating this to Institutional Accounting. In most cases, there's a link that requires banking information which will need to be completed by Institutional Accounting and approved by an authorized signer on Dartmouth's bank account. If this is the case, please contact Institutional Accounting.

In the event the originator of the online vendor account leaves the department or Dartmouth, they need to ensure that there is adequate coverage in the overseeing of the account's activity going forward. Please provide Institutional Accounting the individual's name that will be the replacement for this vendor account.

Departments expecting a payment by wire transfer, ACH or EFT should send a notification to Institutional Accounting and provide the following information:

  • Name of Sender – Individual person or company name or sending bank name
  • Expected Amount – If the exact amount is not known, provide estimated dollar amount
  • Expected Date – If this is known
  • A copy of the Invoice
  • Chart string(s) – including all 6 segments – for funds to be posted in GL

Important Additional Notes

  • Whenever wire instructions are given out, the sender should be reminded to include detailed reference information such as the receiving department name, the department Org, a staff member's name, student name and ID number, or alumni name (for donations).

  • Using a project name or an invoice number as a reference is not sufficient information for Institutional Accounting to determine which department the wire is for, since each area uses a unique invoice numbering method.
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