Finance Foundations – Lesson 3

How to make a payment to a supplier, vendor or contactor on behalf of Macalester?

In this lesson you will learn: 

• Which payment method to use to make a payment on behalf of Macalester for a supplier, vendor or contractor.
• What you need to gather to make a payment (purchases, invoice payments, service contracts).

What you may need to gather to make a payment (purchases, invoice payments, standard engagement contracts) to a supplier, vendor or contractor.

• FOAPAL or budget to charge the payment to
• If your budget approval is less than the amount, use the Finance Approval Look-Up Tool (Macalester Log in Required, may require an Chrome / Incognito window)  to look up who will need to approve the expenditure.
• Macalester Tax Exempt documents

Contract with a Contractor to provide a Service to the College

• Standard Engagement Agreement (SEC) for US Contractors 
• Submit W-9 Securely for US Contractors
• Standard Engagement Agreement (SEC) for International Contractors
• Submit W-8BEN or W8-BEN-E for International Contractors

Pay a Vendor / Contractor Invoice

• Option 1: Use your Macalester Pcard if there are no additional credit card fees.  If your Pcard limit is insufficient, request an increase.
• Option 2: Follow the steps to Submit an invoice to be paid by Accounts Payable
  • If your budget approval is less than the amount, use the Finance Approval Look-Up Tool (Macalester Log in Required) to look up who will need to approve the expenditure.
• Option 3: When requested by a contractor or vendor, Wire Transfer Request 

Reimburse a Vendor or Contractor for reimbursable expenses (post engagement)

• Check request

Go to Finance Foundations at Macalester to find additional lessons.