How long does it take for the money to physically get into the employees or vendors bank account?
Answer The money will show up in the employee’s or vendor’s bank account at the start of business on the second business day after the payment is entered by the University. Examples are as follows: a) If the Payroll Office enters an employee Flexcomp reimbursement on a Monday, the money will be in the employee’s bank account at the start of business on Wednesday. b) If the Accounting Office enters an employee travel voucher on a Tuesday, the money will be in the employee’s bank account at the start of business on Thursday. c) If a University department or the Accounting Office enters a vendor invoice on a Wednesday, the money will be in the employee’s bank account at the start of business on Friday. How are refunds from vendors and/or employees handled?
