Taxation, Petty Cash & Money Lists, Workflow, and
Information Technologies
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Alana Monjure
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W9 form requests: Basic Guideline: NEVER FILL ONE OUT! Send all
requests for these forms to taxation Email address:
[email protected]@unm.edu TAXATION
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Moving Expenses must be properly reported to the IRS. All
Moving expenses belong in account 38L0 All House hunting expenses
are MOVING expenses, not recruitment or travel expense Expenses
must be turned in within 60 days of being incurred to remain
non-taxable TAXATION MOVING EXPENSES
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Staff Awards are taxable The Awarding Department provides the
award amount and employee name/Banner ID number to Payroll This
includes gift certificates awarded TAXATION STAFF AWARDS
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Taxation issues exist for all foreign nationals BEFORE
incurring travel expense on a Pcard for a foreign national, contact
taxation Include UNM letter of invitation BEFORE filling out a DPI
to reimburse a foreign national, contact taxation Vendor set up to
include W8 BEN form TAXATION FOREIGN NATIONALS
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Fill out SPQs completely- There are tax implications to both
the vendor and UNM A properly filled out SPQ allows UNM to
correctly determine employee versus contractor relationships UNM
will report 1099 income to both the vendor and the IRS TAXATION
SPQS
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Stacie Hurley
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PETTY CASH STATISTICS Processed FY 2011 Processed FY 2012
HSC-Unrestricted & C&G (combined)1,294* 801 Main Campus -
Unrestricted409* 289 Main Campus - Contracts and Grants115* 81
Combined Total:1,8181,171 * Through May 31, 2012
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Main Campus Departments must have a Petty Cash fund Cash
Handling Training Required Expense must be allowable for Petty Cash
use Use of Pcard or DPEZ reimbursement is preferred Reimbursements
available in Bursars Office, Main Campus only Petty cash funds must
be reconciled weekly PETTY CASH IN GENERAL
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Food for entertainment/staff meetings Travel costs Gifts Most
services Fed-Ex, UPS, DHL, etc. Tax on goods Salaries PETTY CASH
UNALLOWABLE
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Payments that are difficult or impossible to make using a DPEZ
or Pcard, such as: Time sensitive mailings COD payments- Fed Ex,
UPS, etc. Post Office payments Also allowable: Basic photo
developing Basic photocopying Payments to Clinical Trial
Participants PETTY CASH ALLOWABLE
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PETTY CASH FORM 1. Petty cash may be used for Departmental
purchases of $100.00 or less per day/per Vendor. 2. Petty cash can
not be used for personal advances, loans, IOUs, cashing checks,
salary payments, payments for outside services, purchases from
campus departments or vendors travel costs, or unallowable
expenditures. 3. Reimbursement cannot be claimed more than once for
the same purpose. By signing the receipt, the person being
reimbursed certifies that he/she has not received prior
reimbursement.
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PETTY CASH FORM 52305431K03U0032$9.00 Book of stamps to mail
patient referrals and enclose A self addressed (to UNM) stamped
envelope.
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Proper signatures Original Receipts Appropriate Index/Account
Code Total vendor costs less than $100/day Expenditures allowable
Cannot be used if expenditure occurred more than 60 days ago PETTY
CASH GUIDELINES
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BUSINESS PURPOSE: NOT what I bought But Why I bought it When
the purchase was made Explain PETTY CASH GUIDELINES
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Change in Review Responsibilities: Contract and Grant will
review Petty cash pertaining to Contracts and Grant expenditures
(Marie Herrera) These Must indicate the FUND, as well as the index
Change begins July 1, 2012 PETTY CASH - CHANGES
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The HSC cashier window closed May 18 th The Bursars office on
Main Campus has been relocated to the Business Center, effective
May 18 th HSC employees will continue to have Petty Cash
reimbursements approved in the HSC Financial Services Office To
obtain the reimbursement they must go to the Bursars office located
in the UNM Business Center on the first floor, at the Corner of
University and Lomas PETTY CASH - CHANGES
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Unrestricted Petty Cash reimbursements will continue to be
handled as they have been, primarily by Thelma Graham with Stacie
Hurley as backup Restricted Petty Cash reimbursements will now be
handled by Marie Herrera PETTY CASH - CHANGES
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USING XTENDER
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Stacie Hurley
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Money lists are prepared by the department for all money (cash
or checks) received by the department The funds received must be
deposited into the correct index and account Never use:
Transfer(11xx-12xx) Allocation(16xx) Reserve(1903) Expense
accounts(2000-98xx) MONEY LISTS
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Money lists deposited to 07ZZ Reimbursement Holding: 1) After
the deposit, prepare a journal voucher 2) Debit 07ZZ and credit the
expense account that is being offset 3) 07ZZ must have a zero
balance at the end of the fiscal year MONEY LISTS
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Conform to Policy: Frequent deposits Cash Handling Training
Gifts go through the Foundation Receipts given MONEY LISTS
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Both Petty Cash and Money Lists require Internal Controls
Separation of Duties Adequate recording or receipts Reconcilement
INTERNAL CONTROL
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MONEY LIST FORM Explain source or reason for deposit.
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Departments may now drop off deposits with HSC Financial
Services Departments may elect to use UNMs mobile courier service
Contact Jose Gonzalez with questions: JM [email protected]
MONEY LIST - CHANGES
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John Brandt
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P CARD WORKFLOW THEORY Automated process to reduce effort
required to reconcile travel transactions More efficient for PCard
Department Prior to Workflow, Cardholder statements could not be
approved until travel occurred More efficient for Departments
Process triggers 60 days after posting Internal Control process
Enhances documentation on file for audit
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Zero dollar DPIs are not needed when a transaction is properly
associated with a DPI Each transaction must be associated with the
correct DPI Transactions cannot be randomly grouped together to
clear the transactions out of workflow P CARD WORKFLOW AVOIDING
IT
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THE BEGINNING. Workflow triggers 60 days after original
transaction date by generating an e-mail notification to PCard
holder Provides link to workflow process
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UNRESOLVED P CARD TRANSACTIONS LISTED
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TRANSACTION INFORMATION S1234567
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P CARD WORKFLOW 4 CHOICES Section One Section Two Section Three
Section Four
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SECTION ONE Department does not have to research document
numbers. Most efficient. Validated with automated process. Most
efficient. Best Practices for DPEZ and PCard transactions.
(20)
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SECTION TWO OOPS, I FORGOT! Department must identify DZ
document where transaction should have been reported. HSC must
review original PCard transaction and DZ indicated to confirm
related items. System inserts records in DZ Banner Record.
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BEFORE AFTER
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SECTION TWO OTHER CONSIDERATIONS Do not create a zero pay DPI
if the traveler has already received reimbursement Create zero pay
DPI only if there are no payments being made to the traveler
Include All Transactions on one document Attach receipt
documentation Obtain department signatures confirming business
purpose of the travel Forward to HSC Financial Services for
document retention
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SECTION THREE THE SNOOZE BUTTON Defer process as travel occurs
in the future. Workflow will generate again AFTER travel date
indicated by PCard holder. Can clear with automated data validation
process. in (20)
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SECTION FOUR NOT TRADITIONAL TRAVEL Automated process generated
based upon vendors MCC or merchant commodity code. Brief
explanation of expense/business purpose needed. Reviewed and
approved by PCard Manager. This hotel charge was a conference room
charge for a UNM sponsored Medical Seminar on 2/12/12.
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Andrea Rodgers
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IT
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Online demonstration of this process: it.unm.edu/help.unm IT
RESOURCES