Carleton College

A Faculty & Staff Guide to the Business Office – FY2012

Agenda

• What’s New for FY2012– Staff Changes– Promoting Purchasing Cards– Promoting ACH– Reducing Petty Cash– Improving Reporting– New Student Employment Forms to HR

• Sharing Departmental Best Practices• Questions/Comments/Concerns• Thinking About the Future

Why Purchasing CardsWriting a Check Using a Purchase CardInitiate purchase Initiate purchase

Receive invoice Make payment

Complete new vendor set-up Print receipt

Prepare payment request Print statement

Submit to Business Office Complete payment.net review

Respond to Audit Inquires if required Respond to Audit Inquiries if required

Enter payment request

Print checks

Mail checks or Dept Pick-up

Dept Pick-up/Mail check

Print 1099-MISC for service payments

Mail 1099-MISC for service payments

Cost per transaction $8 JPMC Rebate per transaction .4%

Why ACH PaymentsWriting a Check Making an ACH Payment

Enter payment request Enter payment request

Print check (s) Transmit payment file

Mail checks or Dept Pick-up

Dept Pick-up/Mail check

5% Unclaimed Property

Cost per transaction $8 Cost per transaction <$1

Why Eliminate Dept Petty Cash

• Reduce administrative assistant responsibilities• Improve timeliness of departmental budget

reporting• Improve institutional compliance • Reduce risk of theft

Temporary (event specific) requests continue (i.e. PEAR)

Why Reporting?

• Increase transparency• Improve access (new security roles)• More informative – “What I need to know”

• Tell us what you like and dislike• What’s on your wish list?

– Julie Latham, ITS

Why New Student Employee Forms to HR

• Create common new employee experience• Address audit requirement to segregate duties• Increase proximity to SFS (positions)/HR (forms)• Enhance student employee training and

relationships

Best Practices (from your peers)

Purchasing Cards– Print and deliver statements to faculty 1st of the month

with due date.– Faculty checklist to keep track of those on OCS or not on

schedule.– Review all charges for completeness

• Account numbers (PDA vs. Dept travel)• Receipts really matter• IRS documentation requirements (business purpose;

attending)

– Discuss concerns with Dept Chair or Business Office– Send complete package to Business Office

BENEFIT: Happy Faculty with NO AUDIT EXCEPTIONS to resolve with the Business Office.

Best Practices (from your peers)

Payment Requests– Complete – account numbers; business purpose; IRS

required documentation.– Authorized - signatures; beware large $ transactions.– Accurate – after service is rendered.– Send regularly; don’t hold until Tuesday noon

BENEFIT: Timely and accurate payments with no follow-up questions from the Business Office to request additional information.

Best Practices

New Vendor Set-up– SKIP THIS IF YOU ARE USING A PURCHASING CARD– W-9– ACH Payment Authorization

BENEFIT: Touch the transaction once.

Other Best Practices – FAQ’s

• Avoid Gift Cards – alternate with inexpensive tangible item• Avoid ITS Equipment/PEPS Equipment/Software – redirect to

ITS/PEPS• Minimize prizes – IRS tax reporting obligations apply• Payment requests should be submitted after services have

been rendered• Be aware of Independent Contractor checklist – contact HR

if you need assistance• Be aware of special requirements for doing business with

non-resident aliens – contact Shari Mayer if you need assistance

• Be aware that grant management has special requirements – contact Susan Benson if you need assistance

• Be aware of special requirements for doing business with entertainers – MN Entertainer Tax may apply

Thinking about the Future

• Consolidate Student and Bi-weekly Payroll; – Advantages:

• Reduce payroll from five times per month to three times per month. Two supervisor approval processes vs. four supervisor approval processes.

• Increase consistency, reduce confusion.• Supervisor review extended to Tuesday,

noon for pay period ending Saturday.

Our Gratitude

– 450 card holders– 1,000 payment requests per month– 1,300 students on payroll

We could not do this without you!

Questions/Comments/Concerns

• Open Door• Visit the Business Office – Leighton Hall• Call or E-mail

– Linda Thornton– X4171– lthornto@carleton.edu

• Visit the Business Office Web Site• Keep the Faculty and Staff Guide to the Business Office in a

handy location; share it with your department• Attend HR Professional Development Events