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Governing Policy
Questions?
Please use the contact section in the governing policy.
Introduction
The University of Minnesota receives payments from external customers via: check, electronic funds transfer, credit/debit card or cash. The receipt procedure varies depending on the type of receivable and system.
Payments for receivables billed through the Enterprise Financial System (EFS)
Payment via Check
The invoice sent from EFS directs the customer to submit payment (along with the remittance coupon for non-sponsored invoices) to the appropriate University bank lockbox for processing. Departments must not provide alternate addresses for receiving payment.
In the event that a payment for an EFS invoice is directed to the department rather than the appropriate University lockbox, the department must send the payment via US Mail to the appropriate lockbox address listed below:
Non-sponsored Invoices:
Regents of the University of Minnesota
NW 5960
PO Box 1450
Minneapolis, MN 55485-5960
Sponsored Invoices:
Regents of the University of Minnesota
NW 5957
PO Box 1450
Minneapolis, MN 55485-5957
Electronic Funds Transfer (EFT)
The invoice sent from EFS includes instructions to make an electronic funds transfer (ACH or Wire Transfer).
If a department receives remittance information from a customer for a non-sponsored invoice, the department must send the information to: [email protected].
If a department receives remittance information from a customer for a sponsored invoice, the department must send the information to: [email protected].
Credit/Debit Card
Non-sponsored invoices sent from EFS include instructions to make a credit/debit card payment at https://pay.umn.edu. To maintain security of customer's credit card data, departments must NOT use this website to assist customers. If customers need assistance with a credit/debit card payment, the customer should call Accounts Receivable Services (ARS) at 612-625-2392. Credit card fees will be charged to the same chartstring as was used on the invoice being paid.
The University does not accept credit/debit card payments for sponsored receivables.
Cash
If a department receives currency/coin for payment of an EFS invoice, it must contact Accounts Receivable Services at [email protected] for specific instructions on how to handle that payment.
Other Payment Methods
If a customer proposes a payment method other than those listed in policy, ARS or SFR will engage the appropriate units at the University to ensure the receivable is properly accounted for.
Payments for non-sponsored receivables billed using approved financial system
Departments are responsible for depositing receipts by following Administrative Policy: Accepting and Depositing University Revenue or Administrative Policy: Accepting Revenue Via Payment Cards.
Departments must record payments in the approved financial system and ensure that the EFS General Ledger accurately reflects all financial activity created in the approved financial system.