June 2019

1. Year End
2. Interdepartmental Chargebacks
3. Payroll and Payroll Redistributions
4. PCards and Fiscal 19 Year End Processing

5. CTW OneSource Purchasing Portal
6. July 4 AP Deadlines
7. Purchasing News
8. Sustainability News

1. YEAR END – It’s almost here! Some important reminders.

  • Workflow – Check your approval inbox daily and act on all documents. Be sure to set a proxy if you are out of the office. Monitor the status of unprocessed documents. All budget errors (red lines) need to be fixed by June 30.
  • Payroll Redistributions – The last day for June or before payroll redistributions is July 8th at 12:00 noon.
  • Prepaid Expenses – Please remember to use account code 13705 for prepaid expenses and include the additional lines on the voucher as detailed in the year end memo.
  • PCard – June 11 will be a special PCard download for charges incurred through June 7. Please attach receipts and submit those vouchers as soon as possible. The next download is scheduled for June 24 for activity through June 20 and the final fiscal 2019 Pcard download is scheduled for July 2 for activity through June 30.
  • Purchase Orders (PO) – Please review open purchase orders. Any unused or remaining encumbrances must be closed out by June 30, 2018 (except for grant funds 501 and 502 and project funds 710 and 730). 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. The default date for new Purchase Orders will change to fiscal 2020 on June 24.
  • Accruals – If work is being performed or goods are received prior to June 30 and you have not yet been billed, please request accelerated billing from the vendor so that you can process the payment in the current fiscal year. The more billing and invoice processing we do now, the less accruals we will need (more to come on accruals after June 30).
  • Finance Calendar – Don’t forget there is a handy Outlook calendar that will help you keep track of the myriad of dates and deadlines associated with year end processing. Instructions for subscribing can be found here.

The year-end schedule is available here as well as on the Finance website. Thank you for all of your efforts in getting expenses in the appropriate fiscal year.

2. INTERDEPARTMENTAL CHARGEBACKSAll interdepartmental chargebacks (including transactions processed via a WFS Interface) need to be processed, and budget errors cleared, by June 30. If you are experiencing a budget error please contact the department and ask them to either provide a new smartkey or add budget to the existing smartkey. The following are exceptions to this timeline and will be processed by July 15 so please plan budgets accordingly:

  • Payroll for 6/24 – 6/30
  • Pcard charges for 6/21 – 6/30

Please let Melanie Messier (mmessier@wesleyan.edu) know if you have interdepartmental chargebacks that will not meet this deadline. Unless there is a specific exception, departments cannot be charged in fiscal 2020 for an activity or service that happened in fiscal 2019.

Payroll Redistributions for June activity must be requested by 12:00 pm on July 8th to be reflected in second close reports. Please see attached for additional payroll related deadlines.

Please see attached special instructions for year end pcard processing.

CTW OneSource, Wesleyan’s new, integrated way to purchase, is here.  A pilot group of initial users were trained last week and are preparing to submit real orders. We will be working closely with specific approvers in the coming weeks and anticipate a full rollout of the system in late summer.

Soon, this will be the only way to order online from Amazon and WB Mason in addition to other vendors that will be connected to the portal.  A sample of the other vendors include Airgas, Bio-rad, Fisher Scientific, Grainger, Graybar, SHI International and more.  If you frequently purchase from these vendors and want to learn more about this exciting new initiative, which will provide administrative efficiencies (less pcard activity!) and more meaningful approvals, please contact Olga Bookas or Valerie Nye who will be happy to present at any standing department meeting.

On July 4th and 5th, the University will observe the Independence Day Holiday. Vouchers that need to be processed for Wednesday, July 3rd, must be received in the Accounts Payable inbox no later than Thursday, June 27th, at 4:00pm.

Keep in mind that Wesleyan’s net terms determine the payment date. Please contact Tamara Harley at extension #2843 or Crystal Flores at extension #2842 with any questions. Your cooperation is appreciated. Thank you.

Please see attached Purchasing News for information on Thermo Fisher, Medline, Ricoh and more.

Starting June 19th, the Sustainability Office is looking for up to 5 administrative and academic offices wanting to participate in the Green Office Certification program. Get recognized for the sustainability efforts your office is already taking and learn about simple steps to go green! For more information, visit wesleyan.edu/sustainability/involved/engagement/green-office or email jkleindienst@wesleyan.edu.