Some vendors may qualify to submit invoices via electronic invoicing. This is best suited for vendors who submit invoices with a large amount of line items or for vendors who submit over twelve invoices a year. There is some cost, training, and setup required for electronic invoicing. If you believe that your company may be a good candidate for this Ariba Network service, email firstname.lastname@example.org. State the name of the company, the VCU department that you are working with, and an estimated frequency of transactions.
See if your company is already set up for electronic invoicing.
Commercial Card Payment
Contractors are encouraged to accept payment electronically through the Wells Fargo Visa commercial card program. The benefit of this program is that payment will be made ten days (10) after receipt of a proper invoice for the amount of payment due, or ten (10) days after receipt of the goods or services, whichever is later. In contrast, the paper check processing timeframe is thirty (30) days after receipt of a proper invoice for the amount of payment due, or thirty (30) days after receipt of goods or services, whichever is later. It is the Contractor's responsibility to contact its banking institutions to determine any credit limit that may restrict the payment of invoices. It is the Contractor's responsibility to have its credit limit raised as necessary to facilitate the timely payment of all invoices. Invoices exceeding the Contractor's credit limit will be returned unpaid. Once a Contractor has selected the commercial card payment method, it will apply to all payments made to the Contractor by Virginia Commonwealth University. For example, if the Contractor has an existing contract(s) and is currently receiving payment by paper check, and the Contractor is now electing to receive payment by the commercial card, all payments will be made using the commercial card once the commercial card payment process is implemented for the firm. Any questions regarding commercial card payment should be directed to email@example.com.