Operating Procedures Manual

Chapter 2. Accounting Services
Section 2.7. Accounts Payable
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2.7.4. Bank Drafts In Foreign Currency

General Information

Accounts Payable processes foreign currency bank drafts when vendors require payment in foreign currency.

Procedure

If a payment is needed in foreign currency, a week prior to the date the check is needed, initiate a purchase order or check request with supporting documentation (invoice, registration forms), indicating payment in foreign currency.

Accounts Payable will request the foreign draft from the bank. There may be a small charge to the index referenced on the purchase order/check request for this service.

History
Adopted: 11/13/2001
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