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www.wesleyan.edu/finance/financeDept
Important Reminders
1. Year End
2. WFS Update
3. Next Open Finance Meeting
4. Backup Documentation
Other News
5. Accounts Payable
6. Purchasing Card
7. Who to Contact?
1. YEAR END
As discussed at the February Open Finance meeting it is time to begin thinking about year end. With the increased emphasis on controlling spending to generate year end surpluses, and the implementation of a new financial system, the Finance Office is encouraging departments to evaluate remaining expenditures. We will distribute the year end schedule in a couple of weeks.
The Open Finance meeting presentation can be found here.
2. WFS UPDATE
Wesleyan Financial System (WFS) is scheduled to go-live on July 1, 2009. The next few months will be a very important time for user involvement. Updates will be communicated through this newsletter, the WFS Blog, which has been updated for February and will continue to be updated on a monthly basis, and the monthly Open Finance meetings. The Project Team will soon be rolling out opportunities for testing and detailed training plans that will occur throughout the summer and fall.
There is absolutely no expectation of duplicate data entry into FRS/Inquiry and WFS. Both systems will run simultaneously as we start the new year and close out Fiscal 09. Fiscal 09 data will be entered in the old system and Fiscal 10 data will be entered in the new system.
3. OPEN FINANCE MEETING
Two Open Finance meetings will be held this month at the times shown below. Both of these meetings will have the same agenda and content: to show a demonstration of the user entry pages that are part of the new financial system. You only need to attend one of the sessions.
The new user entry pages will make on-line entry for AP Vouchers, Purchase Orders, GL Journals, Deposit Transmittal forms, Budget Transfers and Grant Proposals easy to use and will have electronic approvals built in. We will also discuss some changes in business processes that will be part of the new financial system.
Please join us on Thursday March 12 at 3:00 in Usdan 110 or Monday, March 16 at 11:00 in Usdan 108
4. BACKUP DOCUMENTATION
Federal regulations require the purchase of alcohol be excluded from certain University cost allocations. It is very important that the alcohol be accounted for separately using object code 4535.
Appropriate travel expense reimbursement and PCard documentation must include both a detail listing of the items purchased and proof of payment. An example of what is valid/invalid for dining receipts can be found here.
5. ACCOUNTS PAYABLE
Vouchers received by 4pm on Thursdays will be processed for payment in the following week’s Friday check run.
For accounts payable questions please contact Tammy Harley at x2843 or Janet Gyurits at x2842 or email ap@wesleyan.edu
6. PURCHASING CARD
PCARD charges will be downloaded on March 25, 2009 for billing cycle ending March 20th, 2009. Be sure to access SDOL to reallocate any charges prior to the download. Any reallocation after the download will require an ELF Entry.
Reconciled and approved PCARD statements are due to the Finance Office by March 20th with supporting documentation.
Cash Advance Option – If you have a cash advance option on your card there are PCard cash advance procedures that must be followed to create a PIN and access the cash advance. A cash advance fee of 2% of the advance amount will be charged to your account.
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.
Contact pcard@wesleyan.edu for all card maintenance requests (i.e., credit limit increases/decreases, name change, address change).
7. 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/
Email Addresses:
General Finance finance@wesleyan.edu.
PCard pcard@wesleyan.edu
Accounts Payable ap@wesleyan.edu
Purchasing obookas@wesleyan.edu
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, corresponding with the availability of month end financial reports. Items for inclusion are due five business days before the end of each month and can be submitted to finance@wesleyan.edu