Thank you for becoming a University of Louisville Supplier! We are happy to be working with you.
As a supplier, you have the option of being paid in 1 of the 4 methods listed below. For more details on any of these methods, please contact Accounts Payable via email at acctspay@louisville.edu. Please note that the top 3 listed are the University's preferred methods of payments.
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Payment Method
(*preferred)
|
Advantages |
Disadvantages |
*Automated Clearing House (ACH)
Direct Deposit into Vendor Bank Account |
- Funds directly to bank account
- No trip to bank
- Remittance advice e-mailed to a specified vendor e-mail address(es) OR remittance information sent to bank with payment (CCD+)
- Easy and quick to set-up
|
- Takes a few days to test and be set-up
- May be a new process to learn for some vendors
- Only 1 bank account per vendor – difficult for vendors with multiple locations/accounts
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| *Departmental Procurement (Credit) Card |
- Card charged immediately – no need to wait for payment
- No Purchase Order needed
- No advanced set-up necessary
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- Need to be able to accept credit card payments
- Only available for specific types of purchases and for specific dollar limits
- Not all departments have procurement cards
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| *PNC ActivePay Credit Card Program |
- Card charged as soon as payment notification sent to vendor – no need to wait for check to be mailed
- Works for all purchases and all dollar amounts
- Invoice UofL as normal
- Remittance advice provided along with payment notification
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- Need to be able to accept credit card payments
- Need to be set up for program in advance of processing any payments
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| Traditional Paper Check |
- No advance set-up
- Easy for small companies
- Preferred method for one-time payments
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- Extra days for mail time
- Need to take check to bank
- Possible delay before funds clear bank
- More expensive to process
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