Vendoring
Vendor ID Number
Common Vendor
Proposed Vendor
Vendor Verification
W-9
Form
The University of Arkansas has one centralized vendor database for all BASIS-UPS transactions (purchasing, travel, accounts payable, and federal tax reporting). The Business Office maintains this database.
Every effort is made to obtain a W-9 for file on all active vendors, excluding personal & travel reimbursements, and refund vendors. The completed W-9 indicates the vendors Organizational Type. The organizational types utilized in the BASIS system are C- Corporation, S-Individual/Sole Proprietor, P- Partnership, I- Internal Vendor, M- Miscellaneous -other vendor types, N - Non-Resident Alien, F- Foreign Corporation, R- Reimburse/Refund Recipient, O- Non or Not for Profit, U- Unknown. All W-9's received are scanned.
A review is performed in post audit of newly added vendors to assure their validity.
All vendors are assigned a system-generated vendor ID number. This ID consists of a six-digit vendor number, a two-digit name number and a three-digit address number. Up to 99 names and 999 addresses are allowed per vendor.
Common vendors identify a legal relationship between two or more vendors
(parent/subsidiaries, receiverships, assignments, franchise dealers, etc.).
Payment is allowed when the invoice vendor is different from the Purchase
Order and a common vendor relationship has been established. The
system allows up to three common vendor relationships per vendor.
All proposed vendors should have the vendor name, address, TIN, telephone, and fax number when proposed. For questions concerning proposed vendors email 4HELP or call 575-2551.
Vendor Verification
Third party vendor verification is required on all active vendors,
except those identified as employees or refund vendors. An active
vendor is defined as a vendor that has had activity in the last 12 months
and/or has open POs. At least 20% of the active vendor database should
be verified annually and active vendors should be re-verified every five
years.