Tip of the Month
October 2018- Contact Payments
Whatever you call them, some of us process contracts, agreements, or arrangements with outside parties. A one-time payment to these individuals or groups is easy - submit a disbursement voucher with proper backup to Accounts Payable (email@example.com) and you are done. However, sometimes the contract calls for a deposit plus one or more additional payments. When that happens, do not wait until those additional payments are due to submit them to Accounts Payable. Go ahead and submit a disbursement voucher for each payment from the very beginning. Note on each voucher when the payment is due and we will enter the payment in the system to be paid the Tuesday or Friday before you need it. In addition, you will see the entire contracted amount on MyAccounts, so you know what has already been obligated from the account and how much is available to you for the balance of the fiscal year.
April 2018 - What will not or cannot be reimbursed?
Did you know that there are certain items you may purchase that will not be or cannot be reimbursed? Non-reimbursable items should not be purchased using a University credit card as you will be expected to reimburse the University.
A list of non-reimbursable items are located beginning on page 10 of the Business Expense Guidelines (https://intranet.wlu.edu/businessoffice/travel-and-expense-guidelines.pdf). There may be other items. If in doubt, please ask before you purchase.
Please make special note that gifts are non-reimbursable. If you wish to give your student workers or others a gift, pass the hat as University funds may not be used.
March 2018 - Where is it?
The Business Office web site is full of information for Faculty, Staff, Parents, Students, and even Student Organizations. You can even find prior month's Tip of the Month.
We have had alot of questions lately about per diem and how to fill out the travel report form. With the assistance of Public Communications, we have a new travel report form that we hope will be of help - https://www.wlu.edu/business-office/student-organizations-faculty-and-staff/forms-and-links. This link has more than the new travel report form. Check it out, "I think you'll like it."
February 2018 - 60-day Rule
The University's business expense guidelines were written in accordance with the requirements set forth by the Internal Revenue Service ("IRS"). One of the requirements within their set of rules, is that expense receipts must be turned in within a reasonable time period. The IRS, of course, goes on to tell us their definition of a reasonable time. This led us to the 60 days which is the IRS maximum required time frame.
However, let us do a bit of clarification. The period of 60 days starts ticking on a stand-alone receipt, such as a book purpose or supplies picked up at the local Wal-mart, on the date of purchase. University travel or sabbatical period, on the other hand begins its 60 day period upon the completion of the trip or sabbatical period. We will use the last day of sabbatical leave as either fall term at 12/31/xxxx or winter term or end of academic year at 06/30/xxxx. University business travel such as a spring term abroad program for the full four weeks - which ends on May 19, 2018 - would begin the countdown on May 19 with a report and receipts due on July 18, 2018. We would hope that a report with receipts would be turned in sooner in order to keep us comfortably within compliance with the IRS. As with the spring term abroad programs, we hope that a report with receipts for a winter term or academic year would be turned in sooner rather than later so that we would be able to process the report in the proper fiscal year.