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Wire and ACH Processing

To better serve the campus and our supplier’s needs, we offer wire and ACH payments for paying certain types of vouchers. For immediate payment needs, suppliers that will only accept wire transfers, or for some recurring payments, we will allow wire and ACH payments through Wells Fargo.

In order to expedite and streamline the processing of wire and ACH transfers, we have established the following guidelines:

  • Accounts Payable will process any completed wire/ACH requests received by 10 a.m. the same day.
  • Any requests received after 10 am will be processed the next banking day
  • Please complete the Wire / ACH form in its entirety
  • Ensure that the form has the appropriate approval authority
  • Complete business purpose
  • Attach supporting documentation
  • Ensure that any additional approvals that may be needed because of the funding source is obtained prior to sending to Accounts Payable
Funding Source Begins With Additional Approval
D Debbie Hellmann or Gail Arnette
ER Kameron Gress or Wendy Harper
P Jessica Gorrell
RC Kameron Gress or Wendy Harper
RG Debbie Hellmann or Gail Arnette

Any wire / ACH requests that are $200,000 or more will require two approvals from the following:

  • Brandon Gilliland, Assistant Vice President of Finance and Controller
  • Bruce Hoff Milam, Senior Vice President for Finance and Administration and Chief Financial Officer
  • Carol Burns, Associate Controller
  • Paul Heinrichs, Associate Vice President of Finance and Business Services
  • Craig Thomas, Assistant Treasurer – Endowment

Important Notice: Requirements for International ACH Transactions
Effective September 18, 2009: Funds electronically deposited through the Automated Clearing House (ACH), also known as direct deposit, into a US bank account and either forwarded to a non-US bank account or funded by a non-US bank account, dollar for dollar, require the University to submit supplemental information with the ACH transaction. The supplemental information includes:

  • Name
  • Physical address of the receiver
  • Identity of the receiver
  • Bank
  • Correspondent bank name
  • Bank id number
  • Bank Branch Country Code
  • Payment Related Information
  • Reason for payment
  • The same information is needed for any intermediary financial institutions that are involved

For more information, please see Requirements for International ACH Transactions

How To

For details, please see the Policies and Procedures section of this site.

Business Expense Policy
Travel, Meals and Entertainment Policy


Approval Procedures

When approving documents for payment, a full signature is required. Initials are not acceptable. The approval signature is meant to show that the approver recognizes the items have been received, there is a bona-fide business purpose and that they authorize the payment.

Only those individuals documented on the authorization and approval levels document approved by the University president or those documented on the Departmental Expenditure Authorization Form are allowed to approve invoices, reimbursement requests or P-Card statements. An authorized approver’s dollar limit must not exceed the levels designated by the University president.

When adding or removing approvers from your operating department, please complete a new Department Expenditure Authorization Form.

Each academic year, student groups need to complete the Student Organization Expenditure Authorization Form before payments can be processed.

If a student group does not know their faculty advisor, they should contact Steve Hirst, Director of Student Leadership and Organizations, by email at hirstsr@nullwfu.edu or the Student Government Treasurer.


Mileage Reimbursement Rate
The current mileage rate that Wake Forest University is reimbursing is .51 cents per mile.

AP Payment Schedule
Accounts Payable processes checks on Monday, Wednesday and Friday. However, exceptions are made to accommodate campus or postal holidays.

Because of potential increased volume, Accounts Payable cannot promise immediate processing of invoices and reimbursements.

Checks are processed by a third party and will be mailed from Jacksonville, FL.

If checks must be printed outside the normal check run schedule, the department requesting the additional check processing may incur a $25 processing fee.

Foreign Exchange Rates
When converting travel reimbursement requests from a foreign currency to the US dollar, you should use one of the following sites:

If the exchange rate should vary or you have documentation of another rate (e.g., credit card statement), please provide that documentation with your reimbursement request.

Foreign Per Diem Rates

When traveling internationally, WFU will reimburse using per diem rates for meals and incidentals. You cannot combine actual receipts and per diem rates on the same trip. To find the per diem rates that apply, please visit the U.S. Department of State website.

Tips and Gratuities

As a general rule, travelers should not tip more than 20%. If a tip exceeds 20%, a business purpose must be included.

For more detailed information on tips, please see the Tips and Gratuities section of the Travel, Meals and Entertainment Policy.


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