6. WFS Tips and Tricks: Pivot Tables for WFS Inquiry
You can find the presentation from the previously held year end meetings and other year end information on the WFS Blog, the Finance Website or by clicking here.
The following items are things you should be thinking about now:
- Budget Status – Request that any old PO’s, vouchers and/or journals be closed or deleted.
- Necessary expenditures through June
- Travel Expense Reports
- Prepaid Expenses
- Workflow backlog – All documents will need to by processed by year end.
3. SPLITTING INVOICES
One invoice should not be split between two vouchers. The invoice should be paid on one voucher with multiple Distribution Lines. If there is a need to charge a Smartkey that you do not have access to please request the person who has access to both Smartkeys to process the voucher or request that you be given access to the applicable Smartkeys
4. JOURNAL LINES- Due to/Due from with no Smartkey
The University operates under a system of Fund Accounting. If journal lines use different funds (remember the fund number is the first three digits of the smartkey) the system will automatically create additional lines that bring the funds in balance. These lines show up with a description of “Due to/fr current” with no Smartkey and their dollar values are included into the journal totals, thus creating the appearance of duplicating the transactions. Users do not need to be concerned with this duplication. It occurs on different accounts and does not affect budget.
6. PIVOT TABLES FOR WFS INQUIRY
The Finance Office recently held two training sessions on the use of Pivot Tables for WFS Inquiry. Excel pivot tables allow users to summarize large amounts of data to obtain a desired report and to “slice and dice” the data for better data analysis. One last training session will be scheduled for June. Please email firstname.lastname@example.org as soon as possible if you are interested in signing up. Training materials, including instructions on how to refresh the data, can be found at http://www.wesleyan.edu/finance/financeDept/budget/Pivot%20Table%20Training.pdf. Training sessions will be offered again in the fall.
7. FOREIGN PAYMENTS – Stipends
Please see this month’s version of the Navigate Newsletter for important and helpful information regarding stipends paid to foreign students.
8. ACCOUNTS PAYABLE – July 4 Deadlines
On Monday, July 5th, the University will observe the Independence Day Holiday. All Accounts Payable Vouchers which must be processed for Friday, July 9th, must be received in the Accounts Payable Inbox no later than Thursday, July 1st at 12:00 noon. Keep in mind that Wesleyan’s net terms determine the payment date.
Wesleyan’s net 30 payment terms determines when a payment is made. This is 30 days from the invoice date that you put in the voucher. If a payment needs to be made prior to the 30 days, please follow these instructions when completing a voucher.
In the Instruction for AP field type DD (For Due Date) followed by the six digit date that the check is needed by.
**Important-Please make sure that this is typed before any other information in this field since our AP inbox only picks up the first 15 characters of this field.
Thank you in advance for your cooperation in adhering to our processing schedule. Please contact Tamara Harley at extension #2843 or Janet Gyurits at extension #2842 with any questions.
In order to get the information reported in budgets as soon as possible it is very important to note the following changes specific to June:
THREE VOUCHERS WILL BE CREATED IN JUNE
- 6/15/2010 for invoice dates from 5/21/2010 through 6/11/2010.
- 6/22/2010 for invoice dates from 6/12/2010 through 6/20/2010.
- 7/06/2010 for invoice dates from 6/21/2010 through 6/30/2010.
ALL OF THESE VOUCHERS WILL AUTOMATICALLY BE BUDGET CHECKED IN ORDER TO GET THE INFORMATION IN THE BUDGETS AS SOON AS POSSIBLE. However, you will still need to go in, attach receipts, document business purpose and submit for approval by the deadlines.
All Pcard vouchers for Fiscal 10 must be submitted and approved by second close, July 14, 2010 to ensure charges post to the correct fiscal year.
- Please reallocate all Pcard transactions prior to submitting your Pcard voucher
- If a SmartKey needs to be changed prior to Finance Approval, contact pending approver to coordinate voucher edit.
- Journal vouchers related to a Pcard voucher should not be processed unless the Pcard voucher has been fully approved by the Finance Office.
WHEN RECONCILING YOUR VOUCHER
- Please do not edit your PCard Invoice Number.
- Be sure to attach an itemized receipt/invoice to your voucher
- Include a University business purpose for all charges on your voucher.
OTHER PCARD REMINDERS:
- Accessing you PCard Voucher in WFS – to access your PCard voucher, search on Invoice ID by entering cardholder’s email username. Note, if you did not have activity during the billing cycle, no voucher is created in WFS and no submission is required.
- Credit Limit – credit limits refresh at midnight on the 20th of each month. If the 20th falls on a Saturday, Sunday, or holiday, credit limit refreshes at midnight of the previous business day.
- Business Purpose Requirement – all PCard charges require a description of business purpose.
- Receipt Requirement – all PCard charges require an itemized receipt, unless otherwise indicated by the University’s Travel and Other Expense Policy. For audit purposes, if missing a receipt, please indicate “NR” in the description field of your PCard voucher and provide a detailed business description for the charge. Per PCard policy, “Any charge not supported by a receipt is subject to personal reimbursement by the cardholder. Consistent missing receipts will result in the suspension of cardholder privileges or permanent cancellation of the card.”
- Cash Advances – if available, cardholders should use the cash advance feature on their card for minimal out of pocket travel expenses. Travelers must include an itemized summary of expenses, including supporting documentation, for the full amount of all cash advances taken. Any unused funds must be deposited back to the cardholder’s default SmartKey/Account 82450.
- No Splitting transactions – splitting transactions to avoid the single transaction limit is prohibited per Pcard Policy. Email email@example.com to request changes in your monthly and/or single transaction limit. CC your credit card supervisor and Fiscal Manager. Permanent credit limit increases require an active email request from your Fiscal Manager.
All Pcard vouchers are due 30 days after each billing period end date. All May vouchers should be reconciled and submitted by June 20th.
Contact firstname.lastname@example.org with any questions.
For immediate assistance with your JPMorgan Purchasing Card, call the 24 hour Customer Service number on the back of your card (800)316-6056 or (847)488-3748 outside the U.S.
10. WHO TO CONTACT
Please save these sites as favorites for quick answers to questions you might have.
Finance Office Website http://www.wesleyan.edu/finance/financeDept/
Finance Monthly Blog http://financemonthly.blogs.wesleyn.edu
New Financial System Blog http://wfs.blogs.wesleyan.edu/
Contact Information http://www.wesleyan.edu/finance/misc/contactInformation/
SUBMISSIONS FOR FINANCE MONTHLY
What topics would you like to see included in this monthly communication? Do you have a system tip you’d like to share? Finance Monthly will be e-mailed on a monthly basis. Items for inclusion are due five business days before the end of each month and can be submitted to email@example.com