{"id":311,"date":"2024-07-15T19:51:54","date_gmt":"2024-07-15T19:51:54","guid":{"rendered":"https:\/\/www.macalester.edu\/160-grants-accounting\/?page_id=311"},"modified":"2024-11-01T20:40:06","modified_gmt":"2024-11-01T20:40:06","slug":"granteftwirestepbystep","status":"publish","type":"page","link":"https:\/\/www.macalester.edu\/grants-accounting\/granteftwirestepbystep\/","title":{"rendered":"Grant EFT \/ Wire Transfer Request Step-by-Step Guide"},"content":{"rendered":"<ol class=\"wp-block-list\">\n<li>Determine which EFT\/Wire Transfer eform to use.\u00a0\u00a0You will need to determine what your budget approval rights are to determine which request form to select.\u00a0 \u00a0If you are unsure of your budget approval rights for the FOAPAL (budget code) for the request:\n<ul class=\"wp-block-list\">\n<li>Budget Approval levels and approvers can be found by looking up the Fund or Org in <a class=\"external\" href=\"https:\/\/www.macalester.edu\/businessservices\/financeapprovaltool\/\">Finance Approval Look up Tool.<\/a><\/li>\n\n\n\n<li>Go to&nbsp;<a href=\"https:\/\/docs.google.com\/document\/d\/1EuF2xFKajZPVipkS1cXwU36CtWLF5pvY5M1L_CrWupo\/view\">Finance Access and Approvals References<\/a>&nbsp;for more information.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Select the appropriate eform from <a href=\"https:\/\/www.macalester.edu\/grants-accounting\/granteftwire\/#select\">Select the EFT\/Wire Transfer Request<\/a> <em>&nbsp;<\/em><\/li>\n\n\n\n<li>For Requestor and Approver:\n<ul class=\"wp-block-list\">\n<li>If the Requestor is NOT the Grant&#8217;s Primary Investigator (PI), enter the Grant&#8217;s PI as the Approver.<\/li>\n\n\n\n<li>If Requestor is the Grant&#8217;s PI, please put PI&#8217;s name for BOTH the Requestor and Approver.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Enter the Beneficiary Name, Country and Full Address.<\/li>\n\n\n\n<li>Select where the Payee&#8217;s bank is located &#8211; Domestic or International?<\/li>\n\n\n\n<li>Bank Name:&nbsp; Name of Banking Institution.<\/li>\n\n\n\n<li>Branch:&nbsp; Bank&#8217;s branch \/ location, if available.<\/li>\n\n\n\n<li>SWIFT\/ BIC:&nbsp; International Only.<\/li>\n\n\n\n<li>IBAN\/ Account:&nbsp; Payee&#8217;s Bank Account number.<\/li>\n\n\n\n<li>Further Reference:&nbsp; Provide additional Bank details, if available.<\/li>\n\n\n\n<li>Description of Business Purpose:&nbsp; Provide description of how the payment is an authorized\/ authorized.<\/li>\n\n\n\n<li>Upload at least one file &#8211; a receipt, invoice or any other back up to explain the request for payment.<\/li>\n\n\n\n<li>International payments only:&nbsp; &nbsp;select which currency to pay the beneficiary, if not US Dollars, enter the international currency.<\/li>\n\n\n\n<li>Amount to send.<\/li>\n\n\n\n<li>FOAPAL(s) (budget code) to charge.<\/li>\n\n\n\n<li>Sign and date the request.<\/li>\n\n\n\n<li>Once the eform is completed by the Requestor, the request is automatically routed to the Approver(s) and Grants Accounting.<\/li>\n\n\n\n<li>In order to process the Wire Transfer Request, <strong>the beneficiary\/ vendor \/ contractor must have completed a W-9 or W8-BEN or W-8BEN-E<\/strong>:\n<ul class=\"wp-block-list\">\n<li>Requestor should email to Beneficiary (of the wire)&nbsp; <a class=\"more\" href=\"https:\/\/www.macalester.edu\/businessservices\/submit-w-9-securely\/\">Submit W-9 securely<\/a> (for domestic) OR <a class=\"more\" href=\"https:\/\/www.macalester.edu\/businessservices\/submit-w-8-securely\/\">Submit W-8BEN securely<\/a> (for International)<\/li>\n\n\n\n<li>Once completed the W-9 or W-8BEN tax form is automatically routed to Macalester&#8217;s Accounts Payable (AP) department.&nbsp; &nbsp;AP will watch for the tax documents from the Payee.<\/li>\n\n\n\n<li>If W-9 or W-8BEN or W-8BEN-E is not received, <strong>the Requestor<\/strong> is responsible to contact the beneficiary\/ vendor \/ contractor.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>If a Domestic payment request, Accounts Payable will process the payment.&nbsp; If an International payment request, Manager of Accounts Payable will process the payment.<\/li>\n\n\n\n<li>Once each role has completed their portion of the request, the completed form will be sent as a completed PDF to the Requestor and Approver(s) via email.&nbsp; &nbsp;This notification may arrive before the payment has been processed.<\/li>\n\n\n\n<li>If you <strong>do not<\/strong> receive the completed PDF in a timely manner, open the<strong> acknowledgement email from Accounts Payable<\/strong> regarding the form.&nbsp; &nbsp;Open the link to the request where you will be able to view the signatures and determine who hasn&#8217;t signed the request.&nbsp; &nbsp;You can contact them to bring their attention to the request.&nbsp; &nbsp;See <a class=\"more\" href=\"https:\/\/www.macalester.edu\/businessservices\/?page_id=2289&amp;preview=true\">Form Notification &amp; Checking Form Status<\/a> for more information about form notifications.<\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading\">Viewing the Wire Transfer transaction<\/h2>\n\n\n\n<p>Once the transaction is complete, the EFT\/ Wire Transfer transaction will be viewable within the Finance Reporting via Argos under the FOAPAL (budget code) the EFT\/Wire Transfer was charged to.<\/p>\n\n\n\n<p>Contact the <a class=\"more www\" href=\"https:\/\/www.macalester.edu\/businessservices\/staff\/#GrantsAccountant\">Grants Accountant<\/a>&nbsp;if you have questions.<\/p>","protected":false},"excerpt":{"rendered":"<p>Viewing the Wire Transfer transaction Once the transaction is complete, the EFT\/ Wire Transfer transaction will be viewable within the Finance Reporting via Argos under the FOAPAL (budget code) the EFT\/Wire Transfer was charged to. Contact the Grants Accountant&nbsp;if you have questions.<\/p>","protected":false},"author":44,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-311","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.macalester.edu\/grants-accounting\/wp-json\/wp\/v2\/pages\/311","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.macalester.edu\/grants-accounting\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.macalester.edu\/grants-accounting\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.macalester.edu\/grants-accounting\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/www.macalester.edu\/grants-accounting\/wp-json\/wp\/v2\/comments?post=311"}],"version-history":[{"count":21,"href":"https:\/\/www.macalester.edu\/grants-accounting\/wp-json\/wp\/v2\/pages\/311\/revisions"}],"predecessor-version":[{"id":543,"href":"https:\/\/www.macalester.edu\/grants-accounting\/wp-json\/wp\/v2\/pages\/311\/revisions\/543"}],"wp:attachment":[{"href":"https:\/\/www.macalester.edu\/grants-accounting\/wp-json\/wp\/v2\/media?parent=311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}