Thank you for all of your hard work with year end! We had a change in our prepaid process this year that was well received worked great – thank you!
1.YEAR END – Prepaids, Accruals and Budgets
All prepaids, accruals and budget carryforwards have been booked for Fiscal 2018 as follows:
PREPAIDS – These are items paid in Fiscal 2018 but related to Fiscal 2019 goods, services or travel. You will notice Fiscal 2019 charges to your budget with a Line Reference containing the initial voucher number.
ACCRUALS – These are items paid in Fiscal 2019 but related to Fiscal 2018 goods, services or travel. You will notice a credit to the Fiscal 2019 budget with a Line Description beginning with ACCRUAL. If the accrual was initiated from a voucher the voucher ID will be in the Line Reference. If it was initiated from an email or July Pcard transaction and the invoice or receipts for payment are still pending please gather the documentation as soon as possible, complete the AP Voucher and Ad Hoc Susan Pavis (SPAVIS) at the end of workflow.
If you have an item that appears to not have cleared, please contact Susan Pavis at extension 2839.
BUDGETS – Carryfoward budgets in funds where this is applicable should now be final for Fiscal 2019.
3. LABOR DAY DEADLINES
On Monday, September 3rd, the University will observe the Labor Day holiday. All Accounts Payable Vouchers that must be processed on Friday, September 7th, must be received in the Accounts Payable Inbox no later than Friday, August 31st at 4:00 pm. Keep in mind that Wesleyan’s net terms determine the payment date.
Please contact Crystal Flores at extension 2842 with any questions.
4. PURCHASING NEWS
Please see attached Purchasing News for information on a toner scam, Grounds to Grow On, Dupli Envelope and Graphics and managing your online accounts with W.B. Mason and Dupli.
REMINDERS – The following topics are simply reminders of existing procedures:
5. WORK STUDY DETERMINATION
If your department employs a student who is on work study it will have an impact on your operating budget since a portion of the payment comes from work study funds. The determination of a student’s work study status is available through your portfolio. Navigate to “Student Time Reporting” in the “Supervisor/Manager Resources” bucket. This will bring you to a page with a folder for Student Payroll. Click on the link below to “Show More” and you will see “WS Awards and Earnings”. Once the student’s name or Wesid is entered you can view the awarded amount and amount earned.
Knowing the work study status of a student can be an integral part of budget planning for both operating and restricted budgets as the funding is split between the department and federal funds up to a certain maximum amount, at which point 100% of the earnings is charged to the department budget.
6. PCARD TRANSACTIONS TIED TO PURCHASE ORDERS
If a PCard transaction is tied to a Purchase Order you cannot change or add Smartkeys associated with that transaction until after the Voucher download process. In other words, PCard transactions appear in WFS prior to the Voucher download under Purchasing>Procurement Cards>Reconcile>Reconcile Statement. If a transaction has not been tied to a Purchase Order you can change the accounting on this screen. If it has been tied to a Purchase Order (under Purchase Details) you must wait until the transaction appears in the voucher before making any accounting changes.
7. PURCHASE ORDER STATUS
Please note that if a purchase order has a status of “complete” it means that the purchase order is either closed or canceled. If the purchase order has a status of “complete” it means that the smartkey has been unencumbered.