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25.08 Establishing/Updating Vendor Records

25.08 Establishing/Updating Vendor Records, Chancellor's Office Business Policies & Procedures

Purpose:

To establish policies and procedures associated with setting up vendors and updating the vendor master file in Banner FIS.

Policy:

The following procedures will be used for setting up new vendors and making updates to existing vendors in FIS.

Procedures:

A.  Setting Up New Vendors

  1. Business processing staff requests an Oregon University System (OUS) Substitute W-9 Form from the vendor to obtain the following information:
    1. Name:
      1. Person's name for individuals, must match name assigned to SSN;
      2. Business name (unless sole proprietorship), must match name assigned to EIN;
      3. For sole proprietorship, the owner's name. The business name or dba (doing business as) may be included as part of the vendor name (e.g., John Smith dba The Pizza Place).
    2. Address
    3. Tax identification numbers:
      1. Social security number (SSN) for individuals;
      2. Employer identification number (EIN) for businesses, unless it is a sole proprietorship;
      3. For sole proprietorship, the owner's social security number.
  2. Business processing staff requests vendor set-up by faxing the completed OUS Substitute W-9 Form to Business Services at 541-737-0552.
  3. Business Services will set up the vendor record and notify business processing staff with the Banner ID number that has been assigned to the vendor.
  4. Business Services will keep a file of documentation (OSU Substitute W-9 Form).

B.  Updating Vendor Information 

  1. Business processing staff sends an email with the request for updating the vendor record to co-checks@lists.ous.edu. Include any pertinent information for the change (e.g., adding an additional "remit to" address). Exception: SSN information should be faxed, not sent by email.
  2. Business Services will notify business processing staff when the change has been made to the vendor file.

C.  Vendor Set-UP for Direct Deposit

  1. Vendors requesting to be paid by ACH are   required to fill out the  Authorization Agreement for Direct Deposit Form.
  2. Business Services will set up the vendor direct deposit when the vendor has sent the form to the OUS Chancellor's Office  PO Box 488,    Corvallis, OR 97339-0488.  The Contact is Business Services at co-checks@lists.ous.edu or (541) 737-8417.
  3. Business Services will notify the vendor via email when it has been set up.
  4. The vendor will be notified each time a deposit is made to the vendor's account via an automated email generated as the payment is processed.

Forms:

Last Updated 12/1/11