Post Payment Issues
The following are common issues that occur after payment has been issued:
Voiding Check Payments
Rice is charged a transaction fee per voided check. Once a void request has been submitted to the bank, the check will not be honored and cannot be reversed.
NOTE: Our procedure is to wait 30 days from the check date to void a check. This allows USPS time to forward and/or return mail.
To request a check to be voided please email Disbursements 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 "voided check"
- if re-issuing, address the re-issued check should be sent
Any time a check is requested to be voided, the check must be voided within the financial institution, JP Morgan Chase.
Supplier Refunds / Credit Memos
Suppliers will either refund money (preferred method) or issue a credit memo to a department. It is preferred for the supplier to issue a refund check payable to Rice University that is mailed directly to the AP department. Once the AP department has received a refund check, it will be taken to the Bursar's Office to be deposited into the appropriate departments Chart of Accounts (COA).
If a supplier issues a credit memo, it should be sent directly to payment@rice.edu.
Once a credit memo is entered into iO, the Disbursements team deposits it into the appropriate departments COA. The credit memo will be applied against incoming invoices from the same vendor.
Departments should promptly utilize any outstanding credit memos with vendors. If a credit memo remains unused for over three years, the associated expenses will be charged back to the department that was originally credited.
Note: If a refund check is received from a supplier for a credit memo that has already been processed, the check should be forwarded to the Bursar's Office (MS55) for deposit to the correct account. The credit invoice will be cancelled in iO once Disbursements receives a copy from the Bursar's Office. In these situations, please include a copy for Disbursements to cancel the credit invoice.