June 2012


1. Year End – It’s June already!
2. WFS Security Request Form
3. 4th of July deadlines
4. WB Mason – Resolved
5. Expiring PCards
6. Fiscal 2013 mileage rate – Staying the Same.

The year end schedule is available on the Finance website. A year end seminar will be held Tuesday, June 12, 10:00 in PAC 001 to go through the schedule in more detail and answer questions.  The presentation given at the seminar can be found here.  Some important points regarding year end:

  • Determining the fiscal year:  Actual expenses must be charged in the year in which they occur (i.e. travel takes place or goods and services are received).  This may not be the same year as the budget.  This is especially important to note in Fund 101 and may require a budget carryforward request from Academic Affairs in addition to an accrual or prepaid.  Please feel free to contact Val Nye at x3192 with specific questions or scenarios.
  • Accruals:  You have until July 18 to request accruals for work performed or goods received in Fiscal 12 that have not yet been invoiced. This means that you can use the first couple weeks of July to collect actual invoices for Fiscal 12 activity. If you have a Fiscal 12 invoice prior to July 18 ad-hoc Susan Pavis as an Approver (not Reviewer) at the end of the workflow path on the voucher so that she can be sure the charge gets into Fiscal 12.
  • Purchase Orders: Please begin reviewing purchase orders (PO) in funds 100, 101, 140, 601, 602, 651, 652, and 720. Any unused or remaining encumbrances must be closed out by June 30, 2012. Also, please keep this deadline in mind when creating new PO’s as they will not be available in the next fiscal year. Please contact finance@wesleyan.edu to close a PO.
  • Budget Errors: Budget errors received on documents need to be fixedIf you receive a budget error on a Prepaid voucher you do not need to request an override. Contact Susan Pavis and she will provide the credit which will relieve the encumbered budget.
  • Chargebacks:  If you charge other departments for services performed by your department please do these more often during June so departments have the most up to date information in Inquiry as they monitor their budgets. Be sure to ad hoc the requester of the service on chargeback journals.
  • Smartdocs Approvals:  All Fiscal 12 Smartdocs must be fully processed.  Remind your department approvers to set a proxy if they are going to be out of the office.  Denied smartdocs must be either deleted or corrected and resubmittted.

Please use the attached form to make all requests for changes to SmartKey security or changes in approvers. Giving access to WFS (or any of the PeopleSoft systems) for any new employee must be done using this PeopleSoft Security Request Form which can also be found on the WFS and SFIS Blogs. Use of this form is also required for new graduate students.

On Wednesday, July 4th, the University will observe the Independence Day Holiday. All accounts Payable Vouchers which must be processed for Friday, July 6th, must be received in the Accounts Payable Inbox no later than Friday, June 29th at 12:00 noon. Keep in mind that Wesleyan’s net terms determine the payment date. Please contact Tamara Harley at x2843 or Crystal Flores at x2842 with any questions.

All WBMason credits from the duplicate processing that had been previously identified have been posted to University smartkeys. If you still have an issue, please contact your WBMason representative.

JPMorgan PCards have expired. If you have not yet picked up your new card, please contact Tami Sabo at x2958.

The mileage rate will not change for Fiscal 2013 and will remain at 55.5 cents.

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 finance@wesleyan.edu

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