Financial Services

Cheque cancellation

Data Management has been receiving a high volume of cancelled cheque requests. There are various reasons why these requests are made and there are a number of things that can be done to avoid this.

Cheque sent to the wrong address

This can be avoided by ensuring the correct address is put on the N Form and any changes to vendor details are sent immediately to Financial Services for amendment within PeopleSoft.

Misplaced cheque

Before sending a request to cancel the cheque, consider holding the cancellation for a period of up to three weeks whilst searching for the misplaced cheque, especially where there is a possibility the cheque may turn up again.

An invoice being submitted for payment that has already been paid via credit card

To reduce the instances of double payment, ensure adequate records are kept of credit card payments. When tax invoices are received from vendors, check if the invoice is for record purposes or for actual processing.

Restrictions on who we pay

The University does business with other countries, and Data Management processes payments to foreign vendors via Western Union (Previously know as Travelex).

As per the Office of Foreign Assets Control (OFAC) we are restricted and cannot make payments to certain countries and vendors. It is advisable that Business Units are aware of these restrictions before conducting business. Business Units can check the OFAC website for the list of countries and further information on current sanctions, and the AUSTRAC website.