A vendor Check Request Form is a formal document used by vendors to request payments from an organization in exchange for any goods or services they have provided. Given that companies are often in business with hundreds of vendors at the same time, it’s inevitable that finance departments have to deal with a host of challenges when it comes to vendors. From overdue invoices and late delivery to vendor reliability, there’s a lot to consider.
Using a standardized form like this can make life a bit easier by helping your company track hundreds of payment requests and verifying them with invoices systematically. It also helps your company verify the validity of information provided by vendors and keep a clear record of all company transactions for tax and auditing purposes.
At WordLayout, we specialize in creating versatile templates that help you start and run a thriving business. This Vendor Check Request form template offers a customizable document you can use to accept formal payment requests from vendors for payments such as:
- Payment for services provided by contractors or consultants
- Purchase of materials, supplies, or equipment from suppliers
- Payment for subscription services, utilities, or other ongoing vendor relationships
Now, let’s discuss each section of our form in more detail:
Payee Details (SSN/TIN)
A payee is any person or entity (in this case, the vendor) to whom the check is made payable.
In this section, a vendor needs to put down their Social Security Number (SSN) OR the Taxpayer Identification Number (TIN). This section is only applicable to vendors who are individuals (or natural persons).
The reason you need these details from your vendor is that they are not part of the company’s internal system (working as employees on regular payroll) but still need to be identified for tax purposes.
It is important for vendors to diligently enter the TIN number if they want to efficiently match the TIN with the vendor’s IRS records. When you find a match, you know you have the correct TIN information for that vendor. In case of rejected or unissued TIN, you will need to follow up with the vendor to collect the correct data.
Employer Identification Number (EIN)
In this part, a vendor is expected to provide the Employer Identification Number (EIN) – a nine-digit number. This federal tax ID is assigned by the IRS to identify a business for tax purposes.
Note that while the SSN and TIN are only issued to individual vendors (natural persons), the EIN is exclusively issued to businesses.
Having this information ensures that your organization has all the necessary details to process the payment correctly.
Requestor
A requestor is the person who works for the vendor and has been authorized by the vendor to receive the payment on their behalf.
In this section, we add subsections to help identify the requestor with details such as his name and contact details (Email-ID, telephone number and postal address).
Amount Details
In this section, the vendor is required to provide an itemized list of each good or service provided to the company in exchange for the amount charged.
These details include:
- Invoice number, date, and relevant purchase order number
- Brief Description of Goods/Services: A short explanation of the goods or services provided, including the quantity and unit price, if applicable
- Payment Amount: Total amount due to the vendor
- Payment Terms: Any agreed-upon terms for payment (e.g., net 30 days)
Mode of Check Delivery
Here, we provide two check boxes to vendors, giving them an option concerning the mode of check delivery.
This could either be via regular postal service (the USPS) in which case a complete mailing address must be provided. In most cases, this is usually the vendor’s official business address.
For vendors who prefer to collect their checks in person, we have added a ‘Pick Up in Office’ option requiring them to visit the company’s official site when the check is ready.
Attachments
In this section, a vendor is required to give documented proof to back up their check request. Attaching these documents allows the relevant persons at the Finance Department of a company a chance to confirm both the tax credentials of the vendor, as well as the transactional record of the company’s use of the vendor’s services.
W-9 Form
The W-9 is an Internal Revenue Service (IRS) form in which a taxpayer provides their correct Taxpayer Identification Number to an individual or entity. Employers use this to certify that vendors are not subject to backup withholding.
Authorization letter
An authorization letter is issued by the vendor (especially when the vendor is a corporate business entity) whereby it authorizes one particular person (usually, an employee of the vendor company) to process and receive the payment on their behalf.
A formal authorization letter with the company seal and relevant signature(s) ensures that the requestor is the right person to be dealing with.
Invoice copy
A copy of the vendor’s invoice is another common document required by companies before processing a formal vendor check request. This document is issued by a vendor to a company that has purchased their goods or services. It indicates the details of the goods or services provided and how much money the company owes the vendor.
In addition to the above, the form may also require attachments such as receipts, and any relevant purchase orders or contracts that can help validate the expense.
Approval
In this section of the form, an authorized employee of the company gives their final approval of the request. This is usually the Head of the Finance Department, the Chief Executive Officer, or a member of the Board of Directors, as the case may be
As mentioned above, approval ultimately depends on whether you provide original supporting documentation, as well as whether your Check Form Request aligns with the company’s policies pertaining to vendors.
This is the most crucial stage of the Check Request as it allows relevant members of the company senior management to review the contents of the request, and confirm if a vendor has in fact provided the services originally promised before a payment is issued.
For Financial Department Use Only
Once a Check Request Form has been filled out by a vendor, and approved by authorized officials of the company (say, the CEO or Head of Procurements) – it’s time for the final section of the Form.
Here, we include subsections for payment details such as the account number where the money must be transferred as well as the Check Number through which the deposit is made. These details are usually filled out by an official working in the financial department or division of the company.
Why Do You Need This Form?
- Essential for maintaining accurate financial records for auditing purposes
- Ensures that all vendor payments are tracked and documented accurately for internal record-keeping
- Helps organizations manage cash flow by keeping a clear record of outstanding payments.
- Promotes accountability and transparency in the procurement process.
Use this Check Request Form template to process and approve check requests as you easily streamline your company’s workflow.
Lucky for you, our editable form template can be easily downloaded in Microsoft Word as well as on Google Docs!
Feel free to check out our other Check Request Forms, which are specially tailored to the needs of employees and students or educational institutes!
