Purchasing Gift Cards – Best Practices

Many departments ask about how to best purchase Gift Cards. Here are a few important points to keep in mind:

For All Gift Card Purchases:

  1. Gift cards are an acceptable payment method for study participants but investigators must maintain payment logs for all studies that provide payments to participants.
  2. Gift cards of any value are taxable when given to employees. Tax Services requires a report that includes the employee’s UID, Organization ID#, and amount of the gift card.

Obtaining Gift Cards for Study Participants:

  1. Gift cards may be purchased with a PCard if the cardholder has obtained a PCard Gift Exemption.
    • PCard Gift Exemption for gift cards is specifically for study participants, not for employees
    • PCard Gift Exemption requires VP authorization
    • Departments are required to keep a log of study participants who receive gift cards
  2. Gift cards may be purchased on campus at the Positively U gift shop in the University Hospital.
  3. Amazon physical gift cards are available in the Amazon Punch-out in the UShop Marketplace, however, the purchase of electronic gift card codes are restricted by Amazon. A separate Amazon account can be used to purchase electronic gift card codes as long as the PCard being used carries a Gift Exemption.

Note: Smith’s Food and Drug has recently changed their policy regarding the purchase of gift cards. Because gift cards are viewed as a cash equivalent, Smith’s will no longer honor the Print and Carry form for the purchase of gift cards.

If you have any questions or concerns, please contact Tax Services or the UShop Help Desk.

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Open House – You’re Invited!

Join us in welcoming the UShop, Purchasing, and PCard offices to the Park Building!

Open House

Room 170 – Park Building, with two days and times for your convenience:

  • Tuesday, February 21st, from 3 – 4:30 pm
  • Wednesday, February 22nd, from 10 – 11:30 am

 

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Q2 FY 2017 Revised UMV for Endowment Projections

The ending quarter endowment pool unit market value (UMV) for December 31, 2016, is $215.15 per unit. This information is necessary for Method 2 of projecting endowment income and is provided quarterly through FBS News. All other factors in the instructions remain the same through the fiscal year. For detailed instructions on how to project endowment income, please click here. The instructions are available there now for fiscal year 2017-2018.

Ask Us a Question If you have any questions or feedback just ask us!

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January 2017 Accounting Month Closed

The most recent accounting month is now closed. Your Management Reports are complete and ready for your review. For most departments/units, review and approval should follow the steps outlined in this memo. Some departments/units have alternate procedures in place to accomplish review and approval. Check with your unit’s accountant and/or the liaison listed at the bottom of your Management Report if you have questions about review and approval.

A new Guideline has been published to offer clarification to Policy 3-003: Authorizations and Approvals Required for Financial Transactions.

This Guideline is meant to improve internal controls across campus as it outlines:

  1. Account Executives (AEs) and PIs remain primarily responsible for monthly review of their Management Report and submission of EOR (Evidence of Review) – even if they have chosen to delegate this authority.
  2. This responsibility cannot be delegated to an individual who also has the authority to initiate financial transactions.
  3. GFA (Granting Financial Authority) is an application found on CIS that has been recently enhanced to allow AEs and PIs to make separate delegations for financial transaction approval and Management Report Review. (Follow these instructions to delegate authority)

To proceed, please check both your PROJECTS and ACTIVITIES by clicking here.

TO MAKE CHANGES, correct errors, etc.: Contact your departmental administrator as soon as possible (e.g. to prevent delay in posting your changes, please do not wait for the PAR forms).

MARK the Projects/Activities you have reviewed. (This does not necessarily indicate the transactions are correct, only that you reviewed them). There are only two approved methods to indicate Evidence of Review, and both are completed using the EOR web application

  1. Select reviewed activities/projects, and click button “Mark Reviewed,”
  2. Sselect reviewed activities/projects, and click button “Indicate Review PDF.”

Either action leaves a data indicator that review is complete. Signed review PDFs should be retained in your files for as long as you retain other Management Report documentation. Click here for a quick online EOR tutorial.

Review and approval of these monthly reports is a key element in the University’s system of internal controls, and is further explained in University Policy 3-003, Authorizations and Approvals Required for Financial Transactions. – See Section III.F.

Please help us by providing feedback by clicking here.

Ask UsPlease ASK US if you have any questions.

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Need to contact the Purchasing, PCard, or UShop Offices this week?

As previously announced, the Purchasing, PCard, and UShop offices are moving to room 170 in the Park Building (near Accounts Payable).

The moving process begins on Thursday, February 9th at 1:00 pm and will continue through Friday, February 10th. During that time we will have limited to no access to emails or phones.

If you have an urgent need for Purchasing/PCard/UShop during that timeframe please contact us at the following numbers:

Purchasing: (801) 581-7241

UShop: (801) 585-2255

PCard: (801) 587-7859

Our offices will resume regular business hours on Monday, February 13th. Please share this information with members of your team that may need to know.

 

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View Paycheck & Check/Advice Roster

The Payroll Processing for the February 7th, 2017 paycheck is completed, and the paycheck information is available on Campus Information Services.

  1. Signon to the CIS and click the Employee tab (if it is not your default tab).
  2. Click Payroll, Taxes and Salary.
  3. Click View Paycheck and you will see your current check.
  4. Click W-4 Tax Information and you can view/update your W-4 Tax Information.
  5. Click Direct Deposit and you can view or edit your direct deposit accounts, or suppress the printing of your direct deposit advice.

Please remember if your net pay is being direct deposited, it will not be in your bank account until NOON on February 7, 2017. If you receive a check, the University will mail it to your home address on file.

Payroll Reports: For more information about how to view your Check and Advice Roster please see the FBS News Post – Check Advice Roster

Important Information

All Payroll self-service functions are turned off during payroll processing, which begins on the final day of the pay period at 5:00 PM and ends on payday.

If you have further questions please call Payroll at 581-7873.

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Moving Notice: Purchasing, UShop, PCard offices

We are excited to announce that on February 10th, 2017 the Purchasing, UShop and PCard Departments are moving to a new location in the Park Building (near Accounts Payable).

Please update your records with the following new address information effective February 13, 2017:

201 S. Presidents Circle, RM 170

Salt Lake City, UT 84112

Other contact information for these departments will remain the same:

Purchasing

P-Card

UShop

Thank you for taking the time to update your records. Feel free to contact us with any questions.

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January 2017 BPAG Minutes Available

The BPAG minutes from the January 13, 2017 BPAG meeting are now available on the Financial Solutions website.

What is BPAG?

BPAG stands for Business Process Advisory Group.  Business officers from across campus meet monthly with central administration to address problems and issues along with suggestions to solve them.  Over the past several years, BPAG has helped to facilitate many important changes implemented by central administration. BPAG is not a policy making group, a priority setting group nor is it intended to be the primary means of communicating to all the departments.

To learn more about BPAG, click here.

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Ask UsPlease ASK US if you have any questions.

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All Employee Reimbursements: Delivery Options Now Streamlined

Financial and Business Services continues to align our processes with our strategic objective of improved efficiency. To that end, we are implementing a change that will simplify and speed processing, free resources for higher value activities and reduce errors and corrections.

Effective immediately, all employee reimbursements will be delivered one of three ways: Direct Deposit, Campus Mail to the Home Department address, or Hold for Pickup [held in Accounts Payable (AP) at 145 Park].

  1. DIRECT DEPOSIT is still PREFERRED: Direct Deposit continues to be the preferred distribution method for Employee Reimbursements, and if you are set up with Direct Deposit through Accounts Payable, the payment will automatically default to that choice.
  2. CHECKS – CAMPUS MAIL TO THE HOME DEPARTMENT ADDRESS: If you are NOT set up for Direct Deposit through Accounts Payable, the Campus Mail/Home Department Address option is preferred.
  3. CHECKS – HOLD FOR PICKUP: If you are NOT set up for Direct Deposit through Accounts Payable, Hold for Pickup is allowed, but should be reserved for situations where holding a check for pick-up is absolutely necessary.

This change may affect any paper Payment Request or Travel Reimbursement that has been submitted for payment, but has not yet been paid. As part of this change, we will no longer add or change campus addresses to existing employee vendors, and all new employee vendors will only have their Home Department address on file. This information is updated daily with any new data. Checks that are coded as Hold for Pickup will be held for 10 business days, after which time the check will be sent via Campus Mail to the Home Department address.

How can I lookup Home Department address for an employee vendor?

By following the instructions in the Vendor Search How-to Guide, here.

What if the Home Department information is not correct?: Systems will automatically detect the Payee’s Home Department, the Home Department address, and in some cases, the employee’s Supervisor. If this information is inaccurate, departments should initiate an ePAF to correct the information prior to requesting an employee reimbursement.

FUTURE EFFICIENCIES: Payroll Distribution – We are currently in the preparation and design phase of Payroll Distribution for employee reimbursements through the regular payroll cycle.  More information will follow about timelines for this preferred expense reimbursement practice.

Have questions or concerns? Use our ASK US form, or call Kori Wetsel at 801-581-4149.

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Sign up for Electronic W2

W-2 forms are available to University of Utah faculty and staff electronically. Benefits of opting to receive your W-2 electronically include:

  • Helping the University go green. If you file your tax return electronically, a paper copy of the W-2 is not required.
  • You will receive your W-2 several days earlier than paper copies.
  • Your sensitive personal information will not be sent through the mail.
  • A positive impact on the university’s budget.
  • Your past W-2s are available online back to 1999.
  • You may print the PDF if a printed copy is desired.
  • You only need to consent to receive your W-2 electronically once during your employment at the university.
  • Please take advantage of this opportunity by signing up by January 14, 2017.

To sign up:

  1. Sign on to the CIS and click the ‘Employee’ tab (if it is not your default tab).
  2. Click ‘Payroll, Taxes and Salary.’
  3. Click ‘W-2 Consent Forms’ and you will have the option to select to receive your W-2 electronically.

Ask UsPlease ASK US if you have any questions.

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