1. Prepaid Expenses
2. PCard Report
3. Third Party Payments
4. Supplier On-Boarding5. Purchasing News
This is an update since prior month’s newsletter regarding prepaid expenses. The use of the “prepaid” checkbox on the supplier invoice sometimes generates an error message of “1 Error: Prepaid Amortization Type”. If this happens, uncheck the prepaid checkbox and add the prepaid worktag in the “Additional Worktags” section similar to the expense report process.
You may remember us saying, during Workday training, that “many things are driven off of spend category”. This is another example. Workday does not allow use of the Prepaid checkbox with a spend category that is coded as something we would “capitalize”. That should mean nothing to you but is something we do in the Finance office and need to preserve.
We greatly appreciate your patience and understanding as we navigate our first Workday year end together.
As mentioned in the December 2024 Newsletter, a new report has been created that allows Cost Center Managers to review any Expense or Procurement card transactions that have been incurred but not yet applied to an Expense Report or PCard Verification. This is important as, different from WFS, these expenses are not yet included in any budget reports.
This report is now being delivered on the 1st and 15th of each month with a 30 day retention period. Recipients can access it by either clicking on the link in the notification email, or going to “My Reports” from the user profile icon in Workday.
It is important for cardholders to reconcile their expenses in a timely manner and at least monthly. While this report can be used by Cost Center Managers to encourage cardholders to reconcile their activity, note that emails are also sent from Finance to delinquent cardholders. While we have provided some leniency due to the new process, our normal policies are that cardholders will lose card privileges if expenses are not reconciled within three months of the transaction date of the charge.
3. THIRD PARTY PAYMENTS
This is a reminder of current policy. Reimbursements cannot be made to an individual who paid for services or rentals out of pocket. This is considered a “third part payment” and cannot be reimbursed as there are tax implications governed by the IRS. Wesleyan must pay all services and rental payments directly to the vendor. See this link for more specifics parts of the policy.
As mentioned in the January 2025 newsletter, the University is moving to a new system for supplier onboarding. This system is delivered by PaymentWorks and will not only provide the University with a more streamlined entry point for suppliers, but will also provide University staff with more transparency into the status of the onboarding. In addition, PaymentWorks has the technology to verify banking information with external parties. Therefore, this will also be used for vendor changes, replacing the current Service Now process. We are anticipating a go live date in early April. Additional information will be provided and we will soon be reaching out to those who volunteered to test.
Please see attached Purchasing News for information on Workday, Wesleyan RJ Julia Bookstore and Inn at Middletown.
In an effort to continue to address the various shipping issues for goods ordered through a OneSource vendor, please keep in mind that the “Ship To” address that is communicated to the vendor is the one at the header level of the requisition.
There is also a “Ship To” and “Deliver To” field on each line of the requisition. We have determined, and note that this may be different from what was initially said during training, those do not translate to the order. Therefore, if you are changing the ship to location on the requisition, please ensure you are changing it here.
Reminder that you can hide the ship to and deliver to fields on the line level by using the “grid preferences” icon in the top right corner of the requisition lines.
