Payment Processing

Payment Processing: A series of steps required to authenticate and approve invoices, credit memos, and non-standard disbursement requests for payment.

Payment Matrices

Human Subjects Matrix
Rice Payment Reference Guide
 

Receipts

Create a Receipt for Goods/Services
Return or Correct Receipt

Invoices

Supplier Invoice Requirements
Invoice Template

Payment Processing FAQ

I received an email stating a Receipt is Required, what do I do? 

See instructions on how to complete a receipt here.

How can I tell if an invoice has been paid?

The quickest and easiest way is to view the Requisition Life Cycle. 

For further assistance, email payment@rice.edu and please have your purchase order number ready. 

Where do I submit my invoice and/or credit memo?

All invoices and credit memos need to be in a PDF format and emailed to payment@rice.edu. Please note the Supplier Invoice and Credit Memo Requirements.

How do I process a non-Rice employees’ reimbursement?

Reimbursements for a non-rice employee should be processed as a Non-Standard Disbursement.

How is the conversion rate determined when paying in foreign currency? 

An estimated conversion rate is provided by the bank at the time the international wire is set up in the bank's portal, but it is for informational purposes only; the final rate is calculated at the time the international wire is released for processing to the bank.

I submitted an invoice, when will the supplier be paid? 

Invoices are processed within seven business days from receipt in the payment@rice.edu inbox. Once the invoice has been processed by AP and marked received by the requestor, the invoice will be scheduled for payment. Rice's payment terms are NET 30 with most suppliers, unless the supplier offers an early payment discount.

What are Rice University's payment methods? 

Rice University payment methods are listed here.

How do I ensure my supplier is paid by wire transfer? 

Under certain circumstances, it is necessary for a department to request payment be made by wire transfer. Due to the time involved and the complexity of the transaction, wire transfers are discouraged unless no other payment method will suffice. 

The University is charged a transaction fee by the bank for each wire transfer. This fee will be passed on to the requesting department. 

Personnel within the department requesting payment should contact the vendor for specific details (i.e., bank instructions) regarding wiring instructions. The request (invoice or check request) should be entered in iO, along with wire instructions and appropriate back up. You must select "Wire Transfer Required" option otherwise a physical check will be produced.  The transaction fee will be expensed to the fund/org codes designated on the check request for the wire payment.

 

Global Wire Payment Guide

Required Bank Details for Wires by Country

 

I need to stop payment to a supplier, what do I need to do?

Occasionally, a check that has been issued and mailed needs to be cancelled. A "cancel payment" is an action taken to void the check with Rice's bank. When this occurs, Rice is charged a transaction fee per cancelled check. Once this has been requested with the bank, the check will not be honored by Rice's bank.

NOTE: Our procedure is to wait 40 days from the check date to cancel a check.  This allows USPS time to forward and/or return mail.

To request a "cancel payment" action on a check, email Payments at paymentinquiries@rice.edu, with the following information:

- the check number
- the payee's name
- the amount of the check
- the reason for requesting a "cancel payment" if re-issuing
- the address where the re-issued check should be sent

Invoices must be sent to payment@rice.edu. This email will only be used for invoice processing.
For assistance with Payment Status, email paymentinquiries@rice.edu.
All other inquiries should be submitted as an iO Service Request.