December deadline for cheque runs and EFTs
To: Financial systems users and employees who have submitted cheque requisitions
The university will close for the mid-year winter break at the end of the day on Friday, December 20, 2024 and reopen on Monday, January 6, 2025.
As a result, please ensure appropriate steps are taken to meet the following electronic funds transfer (EFT) deadlines:
- Final cheque run will take place on Wednesday, December 11, 2024
- Final date for 2024 EFT payments will be Thursday, December 19, 2024
Submit your invoices by Friday, November 29
To ensure that payments due over the mid-year winter break are approved and processed in advance, please submit your invoices along with valid PO numbers by Friday, November 29 to Payment Services at poinvoices@torontomu.ca.
The university’s standard payment terms are 30 days from the invoice date. If you require a payment to be made before the mid-year winter break, please contact Payment Services at invoices@torontomu.ca no later than Friday, November 29 and we will make every effort to expedite payment to the vendor.
Following the mid-year winter break, payments will resume on:
- Monday, January 6, 2025 for EFT payments; and
- Wednesday, January 8, 2025 for cheque runs.
Low-dollar value payments
As always, one-time low-dollar value invoices less than $5,000 CAD can be paid using a TMU Purchasing Card or the Self-Service Invoice (SSI) entry process. Some exceptions when using P-Card or SSI for purchases less than $5,000 will apply.
Questions?
If you have any questions, please contact Payment Services at invoices@torontomu.ca.