Payment cards are generally one of the most efficient means of receiving payment for goods or services provided. As with any business transaction, there are responsibilities and risks that a department assumes to ensure they receive the proper amount while adhering to contractual and/or legal regulations. Both payment cards and PayPal can be accepted by the customer entering their own data online. However, only payment cards can be accepted in-person, over the phone, or through the mail. It is important to understand how the various rules and processing methods impact departmental procedures and accounting, including how the revenue and related expenses are recorded on the University’s general ledger system.
The business decision whether to accept payment cards, ACH and/or PayPal resides with each department. However, the Controller’s Office must approve all new locations or applications.
Important Note: Gift/donations can only be processed through University Advancement. For more information, refer to "Gifts" located in section 315 of the Manual of Business Procedures.