Frequency and timing:

• Weekly, as refunds are processed by the Bursars Office, separately from vendor checks

Steps:

• Obtain notification from the Bursar that student refunds have been processed.
• Accountants run processes to feed transactions from the accounts receivable module to finance.
• Run student refund invoice selection on a separate day from vendor invoice payments.
• Follow the same steps as vendor checks from FTICHKS to print refund checks.
• Forward check register report from FABCHKR to:
• Deliver checks to Cashier to distribute to students with ID.
• Cashiers:
• oFURFEED Finance Feed Sweep Process
• Printer: database
• Report Mode:
• oFURAPAY Refund Interface
• Printer: database
• Bank Code: 56 – Accounts payable
• oFZRBKDF Student Refund Bank Code Default
• Printer: database
• Bank Code: 56 – Accounts Payable
• Save
• Related > Review Output > select file name
• Tools > Show Document (Save and Print File)
• oResults should show “Successfully executed the FZRBKDF script”
• oAP Clerks to create Direct Pay Request manual payment to Higher One – NEED FOAP.
• oAccountant to initiate wire transfer.
• oController/CFO to approve wire transfer.
• oNotify students that refund checks are available to pick up.
• oMail checks that have not been picked up within 10 days to students' address of record.

Voiding Checks and Stop Payments

When it is determined that a vendor has not received a check, an incorrect check is printed, or a vendor check is returned in the mail, the check must be voided both in the accounting system and at the bank. Unless the check is a duplicate payment, generally the check will need to be reissued.

Encourage vendors to set up direct deposit payments.

Responsible position(s):

• Accounts Payable Manager
• Accountants