ACH Payments (direct deposit)

  • Any Faculty, Staff, Student, or Vendor can sign up for direct deposit using a domestic bank account.
  • Direct Deposits are processed on Monday’s and Wednesday’s (see Holiday Schedule).
  • The deadline for ACH payment requests is 2:00 p.m. the prior business day (i.e. Friday 2:00 p.m. for Monday, Tuesday 2:00 p.m. for Wednesday).
  • A confirmation email will be sent from the Accounts Payable Office once the deposit has been initiated.

Enrollment form for ACH Direct Deposit Form
please download the form and send to Accounts Payable.

***Note – ACH Direct Deposit is different than Payroll Direct Deposit***

Check Payments

  • Available for any vendor who does not accept Credit Card or ACH payments.
  • Checks are printed once a week on Thursday.
  • During peak processing periods, it can take as long as two weeks to process a payment, so please plan your events well in advance.
  • If you find that you need a payment processed in the same week the invoice is received, please have the request submitted no later than Tuesday by noon.

 

Payment for Contracted Service Providers

The College is required to properly classify individuals that provide services as independent contractors or employees in accordance with Internal Revenue Service and Maine Department of Labor regulations. To assist in this determination, please read the Colby Contracting Workflow, which provides guidance on completing the appropriate documentation. See links to various required Colby forms below:

 

Independent Contractor Questionnaire

The Independent Contractor Questionnaire form is required and needs to be completed and submitted along with the Colby Independent Contractor Form.

If you have questions about the checklist or questionnaire please contact Will Saxe x4632.

 

Adobe PDF (Form Fill-in Documents)

Independent Contractor Form – Under $5000

Independent Contractor Form – $5000 and Up

 

Travel Reimbursement

Travel reimbursement requests for Faculty, Staff, Students, and Visitors should be submitted using the Travel and Entertainment Voucher (see below).
Please be sure to include the following on each request:

  • A detailed business purpose including dates, location, and entertainment details
  • All lodging receipts
  • All receipts for expenses greater than $75
  • Account number to charge
  • Approval signature

**Please be sure each traveler understands and agrees to the Colby College Travel Reimbursement and Other Expense Policy prior to travel**

TRAVEL & ENTERTAINMENT VOUCHER (ALL travel reimbursements)

 

Other Reimbursement Requests

  • Reimbursements for any amount can be process by ACH direct deposit. Please submit a completed Payment Requisition form (see below) and supporting documentation to Accounts Payable.
  • Reimbursements under $75.00 can be given in cash at the cashiers’ window. A check will not be processed. Please download the Reimbursement under $75 form (see below), complete it and bring to the cashiers window with the appropriate documentation. Make sure the form is filled out with a detailed description of the reimbursement and full account number.

PAYMENT REQUISITION FORM (NON travel)

CASH REIMBURSEMENT FORM UNDER $75.00 (3 forms per page)

Invoice Submission

Invoices for vendors who do not accept credit card payments should be sent to accounts payable. Payment will be made by ACH or check depending on the preference of the vendor. All requests must have an approval signature along with the complete account number.

For all new vendors: please download IRS Form W-9 to be completed by the vendor.  We must have this completed form before payment can be processed.

 

Employee Recognition Award Policy

On occasion, departments may issue gift cards to employees in recognition of special events. The value of any gift an employee receives above $25 must be reported on an employee’s W-2. The Recognition Award Form will need to be completed in full and approved before a gift card can be issued. The completed form must accompany any request for reimbursement to Accounts Payable and be submitted to Payroll (if gift is >$25).

Employee Spouse Reimbursement Information

Expenses incurred for any accompanying spouse are generally considered personal in nature except on those occasions when the attendance of a spouse at an event furthers the business interests of the College. In these cases, the travel is to be authorized, in advance by completing the Spouse reimbursement form and approved by the President or the appropriate Vice President prior to the travel date.

Current IRS regulations require that amounts paid by an employer for spousal travel expenses be included in the employee’s taxable income and reported on Form W-2 unless the spouse’s presence on the trip serves a bona fide business purpose. Departments should consult with the Office of Financial Services prior to making commitments to reimburse for spousal travel as the reimbursement may be taxable to the employee. Expenses incurred for other individuals or dependents (such as children) that accompany a traveler will be included on the employees Form W-2.