Pre Payments

Prepayments are FULL payments that are made PRIOR to receipt of goods or services. Prepayments are allowed for CERTAIN expenditures normally prepaid as a standard industry practice or where such prepayments are considered cost beneficial to the Commonwealth. A deposit (PARTIAL payment PRIOR to receipt of any good/service) is separate and distinct from a prepayment (payment IN FULL PRIOR to receipt of any good/service).

For TRAVEL-RELATED prepayments (such as airfare, shuttles, conference fees, etc.) and NON-TRAVEL-RELATED prepayments (virtual conference or registration fees) please use the links below for detailed information:

Conference or Registration Fee
Airfare OR Rail (including VRE)
Car Rentals
Internet Purchases

For NON travel-related prepayments per CAPP topic 20310, such as maintenance agreements, subscriptions, professional membership and insurance, use the table below when recording the start and end dates related to the period of service. The prepayment start and end dates are required for services or benefits that cover a specified period of time. For example, a membership usually covers a period of time lasting one year, or a subscription to a journal usually lasts a year. Paying for more than one year is not allowed unless a private funding source is used.

Depending upon the type of pre-payment, the following payment methods may be used and the PERIOD OF SERVICE MUST BE CLEARLY DOCUMENTED USING SPECIFIC CODING as detailed below:

  • SPCC and UMW Finance Card – In WORKS, use the drop-down menu for the PrePay Start Date (GL06) and Prepay End Date (GL07).  DO NOT type the dates; use the drop-down menu.
  • Banner as a Direct Pay – Enter start and end date in Description field and on Direct Pay paperwork
  • eVA – Enter start and end date in Description field on purchase order in eVA

*12-Month Prepayment Limit

  • In WORKS, if Oct-20 is selected under GL06, (start date) and Oct-21 is selected under GL07 (end date), it indicates 13 months of coverage.
  • In Banner & in eVA, if 10201021 is entered, it indicates 13 months of coverage.

MAKE SURE YOU ENTER CORRECT INFORMATION FOR DATES OF COVERAGE!!! If you have questions about timeframes, email payables@umw.edu for help.

What Date to Use as Receiving Date?  Normally, the receive date in Banner would be the date the good/service is actually received. Some goods/services require a receive date that is out of the ordinary. Use the information in the gray boxes below to determine What Date to Use as Receiving Date.

 

Account Code Listing

UPDATED Descriptions effective August 2021

71221 Employee Dues & Membership Fees
71222S Subscriptions
71237 Health Insurance Premiums (non-Payroll)
71253C Equipment Maintenance Service Contracts
71274
Computer Equipment Maintenance
71275
Software Maintenance
71277 Computer Services
72218L Software Licenses
72218/72218F Purchase Software less than $2K/Purchase Software $2K and greater
71279 Software Development
71512 Insurance for Motor Vehicles
71517 Insurance for Fire
71551 General Liability Insurance
71555 Insurance for Workman’s Comp
72226 Subscriptions (serial/periodicals) – Library Use ONLY
72227 Electronic Subscriptions – Library Use ONLY
72229 Electronic Resources – Library Use ONLY

 

71221

Account Code Description:  Employee Dues & Membership Fees

Expanded Descriptions:  Use to record expenditures for employee, student, department, or university memberships to professional organizations. Not technology or web hosting related; for these see 71275 or 72218L.

Payment Terms:  State allows payment for a maximum period of coverage of one year. Paying for more than 12 months of coverage is not allowed–even if a discount is provided. In addition, the due date should be no more than 90 days in advance of the start/renewal date. See Example Table above to determine correct date entry based upon service period and payment method used.

What Date to Use as Receiving Date?  This type of payment does not require receiving because it is entered in Banner as a Direct Pay (no Purchase Order required).

Back to Top

71222S

Account Code Description Subscriptions

Expanded Descriptions:  Includes expenditures for subscriptions to professional or technical publications used for professional development not purchased for general library use.

Payment Terms:  State allows payment for a maximum period of one year. Paying for more than 12 months of coverage is not allowed–even if a discount is provided. In addition, the due date should be no more than 90 days in advance of the start/renewal date. See Example Table above to determine correct date entry based upon service period and payment method used.

What Date to Use as Receiving Date? The receiving date in Banner will be the date the invoice was received.

Back to Top

71237

Account Code Description:  Health Insurance Premiums (non-Payroll)  –  eVA Required

Expanded Descriptions:  Includes expenditures for insurance premiums paid by the state on behalf of eligible individuals to provide them with health services.

Payment Terms:  Payment terms are based upon the due date given by the provider or as the Commonwealth may instruct in a memo. Subject to a prepayment service period of one year. Excludes materials and equipment purchases. See Example Table above to determine correct date entry based upon service period and payment method used.

What Date to Use as Receiving Date? Payments are usually made with UMW credit card; however, if payment is made in Banner, please contact payables@umw.edu.

Back to Top

71253C

Account Code Description:  Equipment Maintenance Service Contracts

Expanded Descriptions:  Includes expenditures for maintenance contracts.

Payment Terms:  Limited to payments for services provided to repair and maintain mechanical and electrical systems and equipment. Excludes material and equipment purchases. Allowable advance payments pursuant to written contracts, leases, or agreements are subject to a maximum prepayment period of one year, where delivery, performance, or refund is assured based on written obligations. Vendors should be encouraged to invoice the agency on a monthly or quarterly basis in the absence of a sufficiently reduced annual pricing arrangement. In addition, the due date should be no more than 90 days in advance of the start/renewal date. See Example Table above to determine correct date entry based upon service period and payment method used.

What Date to Use as Receiving Date? The receiving date in Banner will be the date the invoice was received.

Back to Top

71274

Account Code Description:  Computer Equipment Maintenance

Expanded Descriptions:  Includes expenditures for services to repair and maintain computer and computer peripheral hardware.

Payment Terms:  Limited to payments for services provided to repair and maintain mechanical and electrical systems and equipment. Excludes material and equipment purchases. Allowable advance payments pursuant to written contracts, leases, or agreements are subject to a maximum prepayment period of one year, where delivery, performance, or refund is assured based on written obligations. Vendors should be encouraged to invoice the agency on a monthly or quarterly basis in the absence of a sufficiently reduced annual pricing arrangement. In addition, the due date should be no more than 90 days in advance of the start/renewal date. See Example Table above to determine correct date entry based upon service period and payment method used.

What Date to Use as Receiving Date? The receiving date in Banner will be the date the invoice was received.

Back to Top

71275

Account Code Description: Software Maintenance

Expanded Descriptions:  Use to record expenditures related to software maintenance. This can include upgrades, patches, correcting faults and improving performance, and other attributes.

Payment Terms:  Limited to payments for services provided to repair and maintain computer hardware and software. Excludes computer hardware and software purchases. Allowable advance payments pursuant to written contracts, leases, or agreements are subject to a maximum prepayment period of one year, where delivery, performance, or refund is assured based on written obligations. Vendors should be encouraged to invoice the agency on a monthly or quarterly basis in the absence of a sufficiently reduced annual pricing arrangement. In addition, the due date should be no more than 90 days in advance of the start/renewal date. See Example Table above to determine correct date entry based upon service period and payment method used.

What Date to Use as Receiving Date? The receiving date in Banner will be the date the invoice was received.

Back to Top

71277

Account Code Description: Computer Services

Expanded Descriptions:  Use to record expenditures for services provided by private sector computer operations personnel and other costs associated with the operation of computer hardware. Also includes expenditures for web hosting and cloud services.

Payment Terms:  Limited to payments for services provided to repair and maintain computer hardware and software. Excludes computer hardware and software purchases. Allowable advance payments pursuant to written contracts, leases, or agreements are subject to a maximum prepayment period of one year, where delivery, performance, or refund is assured based on written obligations. Vendors should be encouraged to invoice the agency on a monthly or quarterly basis in the absence of a sufficiently reduced annual pricing arrangement. In addition, the due date should be no more than 90 days in advance of the start/renewal date. See Example Table above to determine correct date entry based upon service period and payment method used.

What Date to Use as Receiving Date? The receiving date in Banner will be the date the invoice was received.

 

Back to Top

72218L

Account Code Description: Software License

Expanded Descriptions: Use to record expenditures for software licenses and license renewals and software memberships or subscriptions.

Payment Terms:  Limited to payments for the licensing fees associated with the use of computer software. Approval for certain licensing arrangements must be obtained through the Virginia Information Technologies Agency (VITA). VITA may approve on the “Agency Procurement Request,” for a prepayment period of more than one year where the pricing arrangements make it cost beneficial, and the vendor is well established. Payment terms are as contract indicates. See Example Table above to determine correct date entry based upon service period and payment method used.

What Date to Use as Receiving Date? The receiving date in Banner will be the date the invoice was received.

Back to Top

72218/72218F

Account Code Description: Purchase Software less than $2K/Purchase Software $2K and greater

Expanded Descriptions: Use to record expenditures for off-the-shelf software, computer application software, and plug-ins. If the purchase has service term dates, use 72218L.

Payment Terms:  Due date is based upon Prompt Pay (30 calendar days after the receipt of a proper invoice or 30 days after receipt of goods, whichever is later).

What Date to Use as Receiving Date? The receiving date in Banner will be the day the goods were received.

Back to Top

71279

Account Code Description: Software Development

Expanded Descriptions:  Use to record expenditures for skilled services specifically related to software development or for consulting and other services to develop custom software or modify/customize existing software.

Payment Terms:  Required payment due date is established by the terms of the contract; or if a contract is not in existence, due date is based upon Prompt Pay (30 calendar days after the receipt of a proper invoice or 30 days after receipt of service, whichever is later).

What Date to Use as Receiving Date? The receiving date in Banner will be the last date of service provided for that invoice.

Back to Top

71512

Account Code Description:  Insurance for Motor Vehicles  –  eVA Exempt

Expanded Descriptions:  Includes expenditures to cover the liability caused by the automobile, the physical damage to the automobile, injury to the driver and passengers, and the uninsured motorist.

Payment Terms:  Payment terms are based upon the due date given by the provider or as the Commonwealth may instruct in a memo. Subject to a prepayment service period of one year. Limited to premiums for insurance contracts.

What Date to Use as Receiving Date? Usually this expense is handled by Finance. Contact payables@umw.edu if this account code is being used.

Back to Top

71517

Account Code Description:  Insurance for Fire  –  eVA Exempt

Expanded Descriptions:  Includes expenditures for property insurance coverage on equipment and structures due to direct loss by fire, lightning, and natural perils.

Payment Terms:  Payment terms are based upon the due date given by the provider or as the Commonwealth may instruct in a memo. State allows payment for a maximum period of one year. Paying for more than 12 months of coverage is not allowed–even if a discount is provided. Excludes materials and equipment purchases. Limited to premiums for insurance contracts.

What Date to Use as Receiving Date? Usually this expense is handled by Finance. Contact payables@umw.edu if this account code is being used.

Back to Top

71551

Account Code Description:  General Liability Insurance  –  eVA Exempt

Expanded Descriptions:  Includes expenditures for insurance coverage against the risk of claims for payment of damages imposed by law.

Payment Terms:  Payment terms are based upon the due date given by the provider or as the Commonwealth may instruct in a memo. State allows payment for a maximum period of one year. Paying for more than 12 months of coverage is not allowed–even if a discount is provided. Limited to premiums for insurance contracts.

What Date to Use as Receiving Date? Usually this expense is handled by Finance. Contact payables@umw.edu if this account code is being used.

Back to Top

71555

Account Code Description:  Insurance for Workman’s Comp  –  eVA Exempt

Expanded Descriptions:  Includes expenditures for workers’ compensation coverage for all State employees.

Payment Terms:  Payment terms are based upon the due date given by the provider or as the Commonwealth may instruct in a memo. State allows payment for a maximum period of one year. Paying for more than 12 months of coverage is not allowed–even if a discount is provided. Limited to premiums for insurance contracts.

What Date to Use as Receiving Date? Usually this expense is handled by Finance. Contact payables@umw.edu if this account code is being used.

Back to Top

72226

Account Code DescriptionLIBRARY USE ONLY  –  Subscriptions (serial/periodicals)

Expanded Descriptions:  Includes expenditures for subscriptions for the library only.

Payment Terms:  State allows payment for a maximum period of one year. Paying for more than 12 months of coverage is not allowed–even if a discount is provided. In addition, the due date should be no more than 90 days in advance of the start/renewal date. See Example Table above to determine correct date entry based upon service period and payment method used.

What Date to Use as Receiving Date? The receiving date in Banner will be the date the invoice was received.

Back to Top

72227

Account Code DescriptionLIBRARY USE ONLY  –  Electronic Subscriptions

Expanded Descriptions:  Includes expenditures for electronic subscriptions for the library only.

Payment Terms:  State allows payment for a maximum period of one year. Paying for more than 12 months of coverage is not allowed–even if a discount is provided. In addition, the due date should be no more than 90 days in advance of the start/renewal date. Excludes materials and equipment purchases. See Example Table above to determine correct date entry based upon service period and payment method used.

What Date to Use as Receiving Date? The receiving date in Banner will be the date the invoice was received.

Back to Top

72229

Account Code DescriptionLIBRARY USE ONLY  –  Electronic Resources

Expanded Descriptions:  Includes expenditures for electronic resources for the library only. (Example: Databases that help locate journals and/or articles.)

Payment Terms:  State allows payment for a maximum period of one year. Paying for more than 12 months of coverage is not allowed–even if a discount is provided. In addition, the due date should be no more than 90 days in advance of the start/renewal date. Excludes materials and equipment purchases. See Example Table above to determine correct date entry based upon service period and payment method used.

What Date to Use as Receiving Date? The receiving date in Banner will be the date the invoice was received.

Back to Top