June 2023

by

1. Year End
2. Summer Hours – Workforce Time
3. Travel Reminders
4. Purchasing News

1. YEAR END

The year end schedule and seminar dates are posted on the Finance website.

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 prior payroll redistributions is July 11th 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 – The next download is scheduled for June 21 for activity through June 20 and the final fiscal 2023 Pcard download is scheduled for July 3 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, 2022 (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.
• 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). The deadline to record an accrual for fiscal year 2023 is 10am on Monday, July 10th.
• Deposits – To ensure that there is time for processing, please submit cash deposit transmittals by Wednesday, June 21st at 10:00 am. The final date for submitting check deposit transmittals for fiscal 2023 is Friday, June 23rd, at 10:00 am. This is the date and time that checks and final paperwork must be received in the Cashier’s Office in North College.

Thank you for all of your efforts in getting expenses in the appropriate fiscal year.

Payroll Deadlines
The deadline to submit additional pay requests/adjustments to Payroll for the June 30th pay date is Noon on Thursday, June 22nd. Submissions must be made through Human Resources (for staff) and Academic Affairs (for Faculty). It is important that all Payroll charges, including Student and Temp time, be reflected in the year in which the work was performed. Please be sure that all time worked prior to June 30th is reported in Workforce Time.  The last FY 2023 payroll to be processed for hourly paid employees will be for the week ended July 2nd.  All amendments in Workforce Time for FY 2022 and time for the week ended July 2nd must be approved by a supervisor by noon on Tuesday, July 4th.

Accounts Payable Deadlines
On Monday, July 3rd and Tuesday, July 4th the University will observe the Independence Day Holiday. Vouchers that need to be processed on Wednesday, July 5th, must be received in the Accounts Payable inbox no later than Wednesday, June 28th, at 4:00 pm.

Keep in mind that Wesleyan’s net terms determine the payment date. Please email Accounts Payable at aphelp@wesleyan.edu with any questions.

Interdepartmental Chargebacks
All 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 11 so please plan budgets accordingly:

• Payroll for 6/27 – 6/30
• Pcard charges for 6/20 – 6/30
• June FEDEX charges

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 2024 for an activity or service that happened in fiscal 2023.

OneSource
Please make sure all items that have been received are marked “received” as such.

2. SUMMER HOURS – Workforce Time

All employees eligible for summer hours should use Workforce Time to record time off for summer hours through the Time Off Request feature in Workforce Time or by entering summer hours used directly on ‘My Timesheet’ in Workforce Time. Summer Hours have been added to each eligible employee’s Summer Hours bank in Workforce Time. You can find a quick, three minute video on how to report summer hours in Workforce Time using the Time Off Request Function in WesPortal.

3. TRAVEL REMINDERS
As more and more travel is starting to occur again please keep in mind these important reminders:

    • If you are an approver in Workforce Time, OneSource or WFS and will not be available to approve while traveling please be sure to set a proxy before you leave.  Otherwise invoices, vouchers and timesheets will be delayed
    • Trip insurance – the University does not allow the purchase of travel insurance.  We consider ourselves self-insured in this realm. The cost of every traveler purchasing travel insurance would far exceed the cost of a missed trip here and there.
    • Expense reports should be submitted within 30 business days from the dates of travel. The travel expenses must be charged in the fiscal year in which travel occurs. If travel crosses fiscal years it should be charged in the year in which the majority of the travel takes place. Please see the year end memo for additional information regarding prepaids and accruals.  Prepaids happen when travel occurs after July 1st but needs to be paid before July 1st, (ex: Airfare, conference deposits). Accruals happen when payment reimbursement occurs after July 1st for travel prior to July 1st (ex: travel occurs in June but not processing reimbursement until early July).
    • Effective 07/01/2023, the Mileage Reimbursement Rate is 65.5 cents per mile.


4. PURCHASING NEWS
Please find June Purchasing News attached for information on WB Mason year end purchases, Adorama and OneSource.


Leave a Comment