Finance and Accounting Wire - 2003-04 #008
Cost Centers
Cost centers are defined as any combination of Fund/Program/DeptID/Source of Funds/Project to which an expenditure or revenue could be charged. This term is more accurate than chartfield or chartfield string.
Purchasing and Disbursements (392-1331, 392-1241)
Accounts Payable
In order for Finance and Accounting to determine the proper amount of Accounts Payable to record on the University's financial statements as of June 30, 2004, all invoices processed after June 30, 2004 that relate to goods or services that were received prior to 7/1/2004 should be input into PeopleSoft as follows: Input a date equal to or less than June 30, 2004 into the "Invoice Date" field on the voucher.
The above process should be continued until all these invoices have been processed. However, please make every effort to pay all invoices related to goods or services received prior to July 1, 2004 by July 31, 2004.
Interdepartmental (ID) Transactions - E2R and E2E:
E2R - Expense to Revenue Transaction (replaces ID Invoice)
Used for the sale of goods and services between University departments. Transaction must be encumbered by the buying (receiving) department. The charge is performed online in PeopleSoft by the selling (sourcing) department using a "Regular Voucher" against the encumbrance. This voucher will debit (increase) an expense of the buying (receiving) department and credit (increase) revenue to the selling (sourcing) department. For more information see the expense to revenue vouchering instruction guide at http://www.bridges.ufl.edu/training/instruction-guides.html.
E2E - Expense to Expense Transaction (replaces ID Expense Refund)
Used to move non-payroll expense charges between University departments. This transaction is performed online in PeopleSoft using a Journal Voucher. The voucher number of the original expense must appear in the related voucher field of the journal voucher. A justification for moving the expense must be noted in the comment link. This voucher will debit (increase) the expense in the correct cost center and credit (decrease) the expense of the cost center that was charged in error. For more information see the expense to expense vouchering instruction guide at http://www.bridges.ufl.edu/training/instruction-guides.html.
Revenue Refunds
These transactions are for returning revenue that does not belong to the University. For Revenue Refunds associated with an accounts receivable customer account use an AR Worksheet Refund in the PeopleSoft AR system.
For refunds not associated with an accounts receivable customer account, revenue refunds will be processed as an unencumbered Regular Voucher. The "Internal Payment Comment" field must be populated with the deposit receipt number, date and the cost center of the original revenue charge. The "Item ID" selected will be "Revenue Refund". The transaction will debit (decrease) the same revenue account as used on the original deposit. If a needed vendor does not exist, a request will need to be submitted to addvendor @ ufl.edu. Please specify this vendor is being added in order to process a revenue refund.
Allowable Unencumbered Purchases
The requisition/purchase order business process will provide proper workflow and departmental approval. All purchases (except for PCard) will require a requisition/purchase order except for certain expense account items. Expenditures that will be allowed to be processed as unencumbered are as follows:
| Freight | Cell phone charges |
| Utilities (other than PPD) | Employee reimbursements |
| Entertainment (only allowed with DSO funds) | Insurance |
| Memberships | Subscriptions |
| P-Card charges | Conference registrations |
| Direct travel payments | Postage (other than UF Mail Services) |
| Petty cash reimbursements | Research participants |
Voucher Imaging
In PeopleSoft, departments will process all invoices. In order to provide for the timely and proper audit of these invoices, all invoices and supporting documentation must be mailed to PO Box 115350, 114 Elmore Hall. The PeopleSoft voucher number should be carefully printed in black or blue ink (no highlighter) on the top of the related invoice before forwarding documentation to Purchasing and Disbursement Services.
PLEASE NOTE: All PCard documentation should be retained by the departments until the required monthly reconciliation is completed at which time the reconciliation and attached supporting documentation should be sent to Elmore Hall for imaging.
Vendors
Purchasing and Disbursement Services has a Vendor Maintenance staff with the responsibility to input all vendors into the PeopleSoft system. An email address has been established (addvendor @ ufl.edu) to request a vendor be added to the system. Vendors will need to complete a vendor application; EFT form (if EFT payment is desired); and the University's form W-9. These forms can be found online at: http://www.bridges.ufl.edu/vendors/.
Invoices received from vendors that have failed to supply the University with a complete and accurate form W-9 with all necessary data to determine 1099 status will be deemed insufficient for payment until such information is received. University departments will be allowed to create an encumbrance to this vendor but a payment for an invoice will not be generated.
Emergency Checks
Emergency checks will be generated electronically by Disbursement Services. PLEASE NOTE: Emergency checks will not be issued from June 21, 2004 through June 30, 2004.
New UF Checks
The University will no longer be using State warrants for payments to employees and vendors, but instead will issue new UF checks. These checks will be orange and blue with the UF logo and signed by the Vice President of Finance and Administration and the University Controller.
Processing of DSO Expenditures
See DDD Memo issued June 2004 at: http://admin.ufl.edu/ddd/default.asp?doc=9.12.1599.15.
Travel Guidelines
For the latest Travel information and instructional guides, navigate to the following link: http://www.bridges.ufl.edu/travel/
Cancellation of Voyager Gas Cards
Voyager gas cards will be canceled June 30, 2004. See DDD Memo issued June 2004 at: http://admin.ufl.edu/ddd/default.asp?doc=9.12.1589.2.
Diner's Club
Diners Club ghost card is no longer available at travel agencies. See DDD Memo issued June 2004 at: http://admin.ufl.edu/ddd/default.asp?doc=9.12.1590.3.
Travel Agency Fees
Travel agents generally charge an agency fee when booking travel. These charges are not governed by a contract. As a UF department, the following charges should be anticipated:
- Domestic Travel - $25 standard flat rate fee
- International Travel - $50.00 per hour for time spent arranging international travel
Payroll (392-1231)
Group Term Life Insurance (GTL)
Employees will be taxed for any GTL provided for them on a continuous bi-weekly basis beginning July 1, 2004. This is a change for employees provided GTL by AEF or by the UF Foundation. We previously taxed these employees for this non-cash benefit once a year in November or December for benefits received during a 12-month period ending in October. During the later half of 2004 (date to be determined) these employees will be taxed for GTL provided from November 1, 2003 to June 30, 2004.
Direct Deposit, etc
Direct Deposits, Earnings Statements, Time Cards and other payroll related items are discussed in a Payroll FAQ at: http://www.bridges.ufl.edu/FAQ/payroll.shtml and Bridges Advisory No. 5 at: http://www.bridges.ufl.edu/advisory/advisory5.shtml.
Payroll Cost Transfers
The C&G payroll cost transfer system will not be used for cost transfers after 6-30-04.
Tax (392-1324)
Foreign National Payments
Departments paying foreign nationals must send or fax completed Foreign National Tax Information Forms (FNTIFs) to University Tax Services (UTS). The FNTIF may be found at the Finance & Accounting Forms web page at http://fa.ufl.edu/forms/. UTS will determine how these payments are taxed and reported and will complete and send the departments a PeopleSoft Withholding Tax Information Form (PWTIF) along with any other IRS tax forms. The PWTIF will provide the departments information about whether or not the payments are subject to federal income tax and/or social security and Medicare taxes. Departments will use PWTIFs to input appointments (level 1) in the PeopleSoft Human Resources Management System (HRMS). Second level approval of the appointments for wages and fellowships will be the responsibility of the appropriate Human Resource Offices. Second level approval will be performed by UTS for independent contractors, scholarships, royalties, and honoraria payments (ISCR Pay Group).
Non-Resident Alien (NRA) Scholarships and Fellowships
Whenever the university pays a cash scholarship or fellowship to a NRA student, federal income tax will be withheld unless UTS determines that a tax treaty exempts the payment from withholding tax.
Earned Income Credit (W-5 Form)
The input of these forms will be in University Tax Services instead of in Human Resources (HR) where it was managed. http://www.irs.gov/pub/irs-pdf/fw5.pdf
Claiming Exemption from Withholding (on W-4 Form)
This process will be managed in University Tax Services instead of HR. http://www.hr.ufl.edu/departmental/forms/W4.pdf
General Accounting (392-1324)
General Ledger Changes
A new Chart of Accounts will replace the organization/expansion option and object code in FLAIR/SAMAS. A list of PeopleSoft chartfield values and department ID's is available at http://www.bridges.ufl.edu/ledger/. A tutorial on chartfields is available at: http://www.bridges.ufl.edu/training/videos.html.
A crosswalk from FLAIR legacy data to new PeopleSoft chartfields can be found by logging on to the myUFL Portal (using Gatorlink username and password), selecting Bridges Transition in the myUFL Menu, and then selecting one of two mapping options--FLAIR Org Mapping or FLAIR Object Code Mapping. Future chartfield requests can be submitted via email to University Accounting Services at chartfield @ admin.ufl.edu The requests should be submitted by appropriate college/unit contact.
Monitoring of Balances
All departments are advised that frequent periodic monitoring of department cost center balances should be a common business practice. Errors and unidentified charges should be investigated and corrected immediately. Information on reporting tools is forthcoming from the Bridges EPM (Reporting) Office.
Negative Balances
Payroll expenditures will override spending authority, as they currently do, but negative balances will need to be corrected immediately. University Accounting Services will move any negative balances older than thirty days in a Contract and Grant cost center to a college level overhead cost center.
Transfer of Cash Balances
Transfer of cash balances within UF cost centers can be done by sending the request with an attached "spreadsheet journal entry (JE)" to University Accounting Services at GLJournal @ admin.ufl.edu. For complete instructions and the JE spreadsheet template please visit the cash transfer procedure web page. Training on the spreadsheet JE is available from Bridges.
Cognos (data warehouse) and Reports
A university data warehouse will provide common access to standard operational information regarding finance, personnel, sponsored research, student activity, and directory. New Web-based Enterprise Reporting tools provide a simple way to view, create, or download reports from data sources--including personnel, financial, payroll history, directory, and student data. All UF faculty and staff will be able to use these tools via the myUFL portal to produce pre-defined, delivered reports as well as to define new ones. Information on reporting tools is forthcoming from the Bridges EPM (Reporting) Office. Departmental ledgers for FYE June 30, 2004 from FLAIR will be produced and available as in prior years. FLAIR will also still be available for inquiry.
Payroll Distributions
Each employee will have to be distributed 100% for the entire fiscal year. The distribution start date will default to the later of the beginning of the fiscal year or the hire date, and the end date to the earlier of the end of the fiscal year or termination date.
The charge for benefits and taxes should follow earnings in the same proportion. In special cases (e.g., where a grant does not allow fringes) a request can be made to the Contracts and Grants office to distribute those charges to a different earnings account code (cost center).
Treasury Management (392-0957)
Departmental Deposits
Departments will enter their deposit information (including credit cards) directly into the PeopleSoft Accounts Receivable module starting Wednesday June 23, 2004. If you have attended a "Cash to Stash Introduction to Deposits" training session you are ready. The training schedule is listed at http://ssl.continuinged.ufl.edu/bt/. Contact your training coordinator to schedule a time for you to attend. Deposits processed by the Cashier Office June 23 - June 30, 2004 will post to the PeopleSoft General Ledger on July 1, 2004.
To make a deposit, enter the deposit in PeopleSoft AR where you will select the deposit unit number and a deposit ID will be assigned. You will need to enter these numbers on the new Deposit Transmittal form. Navigate to AR~Payments~Reports~Deposit Transmittal Form. Enter the deposit ID and deposit unit number. All other deposit data will default in from the entry in the A/R module. Print two copies, sign and submit both copies with your deposit in the bag you send to the Cashiers' Office, S113 Criser Hall. One copy will be returned signed as receipt confirmation. You can call the help desk (392-HELP) if you have any problems processing your deposit or generating the Deposit Transmittal Form.
Please note each department processing deposits must be set up in the PeopleSoft Accounts Receivable module. If you have not contacted Diane Warfield at Bridges to do this, please email Diane at dwarf @ ufl.edu. Send information on the DeptID(s), Funds and Program(s) used in the department. Also send the name of a contact person, their email and campus PO Box.
Incoming Wires and Electronic Funds Transfers (EFTs)
All wires and EFTs are sent to University of Florida Wachovia Bank Account. If you are receiving monies electronically, please contact Shelley Fanus-Williams or David Segura in the Treasury Management Department at 392-9057 to alert them of expected funds. Each department will need to enter the receipt and deposit into the PS Accounts Receivable module. Please print two copies of the Deposit Transmittal form and sign and submit both copies with your deposit in the bag you send to the Cashiers' Office, S113 Criser Hall. One copy will be returned signed as receipt confirmation.
Cash Expense Refunds
These transactions are for recording refunds of previously recorded expenditures. Cash Expense Refunds will be performed in PeopleSoft by utilizing a Departmental Deposit. The cost center distribution on the deposit should credit (decrease) the original expense account for which the refund was received. The original "Voucher ID" should be populated in the field "RefID" on the miscellaneous tab. This method is taught in the AR Deposits "Cash to Stash" training.
University Financial Services (392-0779)
Scholarship and Loan Accounts, Student Account Summary (Student Accounts Receivable) Accounts and Tuition and Fee System Accounts
Nine digit mapping codes will be used in the student legacy systems to translate to the correct PeopleSoft cost center (fund, dept ID, program and flexfield, if applicable). The Peoplesoft accounts will be used in place of the FLAIR object codes in these legacy systems.
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