Change to Wire Payment Process

What is the change?

ITS, Treasury, and the Shared Services Center have identified and tested improvements to the customer experience around wire payments, with changes to M-Pathways taking effect July 1, 2019.  The current wire/draft form will be going away, as banking information will now be kept on the supplier record.  For suppliers regularly paid by wire, the new wire payment location will be set as the default on the record.

How will this affect me?

Beginning July 1, wire information should be submitted to the supplier management team prior to voucher creation if possible. Wire information can be submitted as an attachment on the Supplier Management eForm when requesting a modification or reactivation to a supplier record. It can also be submitted as an attachment in the New Supplier Request screen in M-Pathways.

What else do I need to know?

For vouchers entered by the department:

There will be a new wire tab on the voucher where the: currency, amount, and banking information has to be verified and confirmed before the voucher can be saved.  

For vouchers entered by Accounts Payable (AP):

• AP will contact the requestor to confirm the voucher should be paid by wire.  
• The currency conversion calculated for vouchers paid in foreign currency will now be adjusted on a separate voucher rather than as an additional line on the original voucher.  
• The $15 fee will now be processed as a monthly allocation on a journal entry, rather than added to the original voucher.  
• This Wire Payment Vouchers – 2019 Update Google sheet highlights some of the changes.

For this change to happen on July 1, no wires will be processed after close of business Friday, June 21.  Wires in the system and ready for processing will be paid early ahead of this cutoff.  To clarify, even though wire payments are not being processed, as long as the vouchers have been approved and budget checked, they will be recorded in FY19 activity.

If you have any questions regarding these changes, please reach out to [email protected] or 734-615-2000.