To initiate payment to a vendor, an invoice must be submitted to Financial Services. Payment will be made within Ryerson’s payment terms as long as:
- an approved purchase requisition (PR) is in place;
- a purchase order (PO) has been created prior to the delivery of goods or commencement of services;
- a Ryerson PO number is included on the vendor’s invoice
Note that payment processing will be delayed if your vendor submits an invoice without a PO number. For more on the invoice requirement process, visit the Vendor Guidance page.
If you’re paying an independent contractor, please be sure to review the Human Resources website for guidance on determining independent contractor status. If independent contractor status is met based on the Employment Relationship and Payment Decision Tree, please remember to include the completed PDF fileProfessional Services Agreement document with your submission.
You can now place all orders less than $5,000, including service-related orders, directly with vendors without the need for a purchase order. For service-related purchases, please instruct vendors to complete the new PDF fileService Agreement (Under $5,000) contract prior to commencing the work.
By default, payments in Canadian and U.S. currency are made by cheque while payments in all other currencies are made by wire transfer.
However, if you are an established Ryerson vendor, we encourage you to register for electronic funds transfer (EFT) payments for quicker and more secure payment. Please contact email@example.com for EFT registration details.
Additional forms of payment
There are two additional methods for vendor payments:
EFTs are recommended for vendors wishing to receive payments directly into their Canadian bank account. Currently, we do not offer EFT payment for non-Canadian bank account holders.
Vendors who prefer this method can request an EFT Registration Form by contacting firstname.lastname@example.org. Once completed, submit the form with a void cheque or bank letter via the Financial Services dropbox at 1 Dundas West, 9th floor.
Information collected by Ryerson remains confidential and will not be released under any circumstances, unless required by law.
The Self-Service Invoice (SSI) entry process in the Invoice Approval System is appropriate for processing payments less than $5,000 CAD when the Ryerson Purchasing Card (P-Card) is not accepted by the vendor, although some exceptions apply.
Note this option requires an SSI training session. Find available dates on the HR Learning Events Calendar.
To use the SSI process:
- Place an order directly with your vendor and have the vendor’s invoice sent to your department.
- If your vendor is new to Ryerson, please have them complete a Vendor Application Form, external link. Details from this form will be used to set up the vendor in Ryerson’s financial systems.
- Once goods are received, enter the vendor’s invoice using the self-service invoice (SSI) entry process in the Invoice Approval System (MarkView). Be sure to upload a copy of the vendor’s invoice with your SSI entry prior to submitting for approval.
Invoices entered into SSI will be forwarded for approval and payment once approved. Note the following when using the SSI option:
- purchase requisitions are not required
- the vendor must send the invoice directly to the requesting department
- requests for payment must have the supplier invoice electronically attached prior to being sent to the approver
Two tips when starting the SSI entry process
If SSI entries are new to you, here are two tips that can help you navigate the process:
- Most purchases are subject to a 13 per cent HST payment. When submitting your SSI entry, be sure to select a tax code that reflects the applicable taxes listed on the vendor’s invoice. If you need help identifying the correct tax code, please contact Payment Services.
- Ryerson’s payment terms are net 30 days from the invoice date. If you need to check the status of an invoice payment or cancel an entry you submitted, please contact Payment Services.
Cheque requisitions can be submitted when an invoice is not available from the vendor. Examples of such instances include:
- accountable advance requests (employees only)
- competition award payments (not under student financial assistance)
- external donation payments
- expense reimbursement claims (for employees on term contract and non-employees)
- fellowship or stipend payments
- honorarium payments (more than $500 CAD and all non-Canadian currency)
- membership or subscription renewals
- refund of deposits or fees
- registration fees
- royalty payments
- sponsorship payments
- transfer of research funds to other institutions
- vendor deposit payments (only when stipulated in a signed agreement and there’s no pro-forma invoice)
Note when submitting cheque requisitions, original receipts and/or other backup documents are required to substantiate the payment request. Some purchases require backup documents with each submission, including:
- airfare expense—submit original receipt and boarding passes
- restaurant expense for group—submit itemized receipt from restaurant, list of attendees and purpose of meeting
- accommodations—itemized receipt from hotel
The Cheque Requisition Form generates a new internal tracking number each time you click the form link. Please use a new form for each payee.
There are a few scenarios where the P-Card and SSI processes will not apply, even if the cost is less than $5,000 CAD. In such cases, please submit a purchase requisition. These include:
- paying vendors who are under a blanket PO number;
- processing payment for purchases where the cost will be split between departments;
- payments that must be paid via wire payments, i.e. vendors that request payment via wire or a payment in a currency other than Canadian or US funds.
- processing any payments related to deposits, accountable advances, or final outstanding balance. Exceptions will be considered and approved, on a case by case basis, by Financial Services.
Check out additional exceptions specific to P-Card and SSI payments:
- Business meals where the cardholder plans to use their RFA per diem
- Gas purchases where the cardholder plans to use a mileage claim for that trip
- Tax and duty/border brokerage invoices
- Tuition fees
- Professional Services paid to individuals directly (e.g. PayPal directly to an individual’s bank account)
- Personal expenses
- Hazardous materials that requires a permit (e.g. Explosives)
- Cash advances (disabled on card)
- Loading funds on gift cards for Ryerson employees to pay for office supplies
- Internal Ryerson stores or services. Note there is a tax savings component if the chargeback process is used for purchases from the Bookstore or RSU Catering. Taxes may apply if the P-Card is used for inter-department purchases.
The SSI entry method also cannot be used for:
- Payments charged to the professional development fund
- Processing payments for a preferred vendor
- Processing final payments related to vendor deposits
- Wire transfer payments or payments in a currency other than Canadian or U.S. dollars