Wire Transfers

When vendors or other payees request payment via wire transfer, the request for transfer must be made by an individual who is authorized on the account to be charged. The request is to be submitted by purchasing or travel using the wire transfer payment request form in Workday at least five business days prior to the transmission date and should include all necessary wire transfer information and supporting documentation. The bank fees associated with the wire transfer will be charged to the same account as the wire transfer.

The wire transfer will be entered after authorization on the account has been verified. The wire will then be approved and released by the Financial Reporting Officer or his designee. The journal entry to record the transaction and resulting bank fee will be made by the Accounts Payable Specialist.

Determine if this is the proper method of payment. A wire transfer offers little recourse if an issue arises. University issued credit cards are the preferred method of payment, followed by EFT/ACH payment which gives us greater recourse in the event of an issue. Please check with accounts payable if you have a question.

The wire request needs to be submitted in Workday by the purchasing or travel department at least five business days prior to the transmission date and should include all necessary wire transfer information and supporting documentation. Failure to send complete or correct transfer information may result in a delay of payment. Wire transfers will not be sent on the last three business days of the month or on or around holidays. If this is the case the payment will be sent sometime during the first week of the following month.

In Workday enter Create Request in the search bar at the top of the screen. Select the create request task and then in the request type box choose – Idaho – Wire Transfer Payment Request and then select ok. From here follow the instructions on the form.

Travel or Purchasing should obtain the necessary bank information directly from the payee or payee’s financial institution. Supporting documentation is also required. Please only attach PDF, JPEG or Word document files. Failure to attach an acceptable file will result in a delay of payment.

Step 1:

Travel or Purchasing needs to fill out the Idaho – Wire Transfer Payment Request form in Workday and then submit it to Accounts Payable for review.

See the information at the bottom of this section for help while filling out the wire transfer form.

Step 2:

Accounts Payable will review the wire transfer request information for accuracy. The request will be sent back to the initiator if changes need to be made.

Step 3:

Once all the information is complete and accurate Accounts Payable will determine if additional approvals in Workday are necessary.

Step 4:

Once approvals are in order, Accounts Payable can then process the wire transfer payment.

Step 5:

After the wire transfer is complete Accounts Payable waits 3-5 business days (but before end of month) to post the wire transfer in Workday as an Ad-Hoc payment request.

If the wire transfer fails, the wire transfer request will be sent back to the initiator with a comment from Accounts Payable asking for updated information. The initiator will then need to provide the updated information and then resubmit to Accounts Payable before another wire attempt can be made.

Step 6:

After the Ad Hoc in Workday is complete, Accounts Payable marks the wire transfer request as “Done” in Workday and then selects “Submit” to complete the wire transfer request.