Division of Financial Services
Accounting
International payments can be made by wire transfer and/or forward contract. Payments must be processed using a Disbursement Voucher (DV) e-doc in KFS with payment method of WIRE.
For more information see Making International Payments.
Purchase order invoices requiring payment in a foreign currency are initiated by Accounts Payable on a Payment Request Non-Check (PRNC) e-doc. The PRNC e-doc is also used to create international payments by wire in foreign or U.S. currency.
Invoices should be emailed to Accounts Payable. State in the email that the purchase order needs to be paid in a foreign currency, and which foreign currency that is. State that you wish payment to be made by wire transfer in foreign currency or U.S. Dollars, and provide the required information.
Accounts Payable will request additional information if not provided.
Once Accounts Payable submits the PRNC, it will route based on workflow. After all approvals, it routes to Cash Management. Cash Management will perform the currency conversion at the time of the transaction. Cash Management will enter the correct U.S. dollar equivalent on the e-doc after the trade has been executed. The disbursement method reviewer approves the PRNC when the transaction has been processed in the bank’s system. The e-doc status is Final and Department Approved.
