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Monthly Archive for February, 2020

February 2020

1. CTW OneSource
2. Payments to Foreign Visitors
3. Budget Transfers in WFS
4. Payroll – W2 Updates
5. Purchasing News

1. CTW OneSource
All purchases from WB Mason and Amazon should now be made via the OneSource purchasing portal. The University is pleased to provide a central Amazon Prime account, eliminating the need for departments to fund this from operating budgets. Accordingly, the cost of personal or departmental Amazon Prime accounts is no longer a reimbursable expense. While every effort should be made to use the OneSource portal for Amazon, if a reimbursement request is presented for purchases made using a personal Amazon account, the University will reduce the reimbursement amount by any taxes, shipping or other costs that that would not have otherwise been incurred in OneSource.

2. PAYMENTS TO FOREIGN VISITORS
The following is a reminder related to payment processing for the services of foreign visitors, as activity is increased during the spring semester.

Understanding that international cultural engagement fuels creativity, supports diplomacy, and enriches artistic offerings, it is crucial for both foreign visitors and Wesleyan to comply with US immigration work restrictions and federal tax law. Payments for the services of foreign individuals are highly regulated and non-compliance could jeopardize a visitor’s visa status and/or future visits to the US. The University will only make payments for the services of individuals upon receiving proof of immigration eligibility, which must be presented prior to an activity. To that end, it is extremely important to notify Finance, Christine Rodrigue, x3502, prior to requesting and/or accepting the services of a foreign person or business. Please see NRA Visitor Payment Checklist. In addition to government restrictions and rules for visitors coming into the US, there are income tax withholding rules on some types of payments to foreign entities, such as the purchase of rights or royalties. Please contact Christine with any questions.

3. BUDGET TRANSFERS IN WFS
The deadline for original budget transfers is Monday, March 16. It is important that we freeze the 2020 original budgets for 2021 budget planning. Adjustment budget transfers will still be allowed in the last quarter of the fiscal year, but there should be very little budget transfer activity from this point forward. As a reminder, budget transfer training materials can be found on the Finance website at http://www.wesleyan.edu/finance/traininglist.html. If you have any questions, please email financialplanning@wesleyan.edu.

4. PAYROLL – W2 UPDATES
Employees were issued printed W-2’s for the 2019 tax year. W-2’s can also be downloaded by accessing iPay on Wesportal.
You now have the option to import your W-2 directly into a participating tax preparation software product such as Turbo Tax.
When you access your W-2 via iPay you will have the option to opt out of receiving printed W-2’s in the future. If you choose not
to receive your W-2 electronically any future W-2’s will be mailed to your home address.

5. PURCHASING NEWS
Please see the attached purchasing news.