Finance Monthly - October 2004
First Edition

The Finance department would like to introduce a monthly email intended to communicate financial information related to systems, deadlines, new initiatives and other finance news.  The current distribution list is derived from the eprint notification to users that their monthly eprint reports are available.  Please take a look at the attached distribution list to be sure it is appropriate for your area.  Please reply to this email if there are any suggested changes or additions to the list.

Welcome to the first edition.

Systems:
        1. ELF, FRS, Inquiry, HRMS Training
        2. New Object Codes
        3. Eprint Reports
        4. Inquiry Reports for Personnel Transactions
        5. Tip of the Month:  ELF
Deadlines:
        6. Accounts Payable November Deadlines
        7. Payroll November Deadlines
Other News:
        8. Benefit Rate
        9. Purchasing and Procurement
        10. Who to Contact? Help link
        
1. ELF, FRS, INQUIRY, HRMS TRAINING
Individual training on FRS and can be requested by contacting Susan Pavis at x2839 or email spavis@wesleyan.edu. 
A session for Inquiry and ELF training has been scheduled for Monday, November 15th, from 1:00-3:30 pm, in the ITS Training Room, Science Tower room 523. There are a few spaces left for this session. Please contact Gil Thornfeldt at extension 2958 if you would like to attend this session. You can request training for many financial related topics by clicking on the following link: http://www.wesleyan.edu/finadm/finance_and_administration_train.htm

2. NEW OBJECT CODES
As a part of the conversion to HRMS, student help budgets that were previously budgeted in four different object codes (1610, 1620, 1630, 1640) have been consolidated into one object code 1630.  Student earnings will continue to be charged to two different object codes based on whether the student is work study or non-work study.  The budget in 1630 will be considered a "budget pool" for all student help. 

Other object code changes for FY05 include:
- Operating budget carry forward 2005 (was previously 2004)
- Graduate stipends 1680 (was previously 8100)
- Graduate dependency allowance 1685 (was previously 8165)
- Undergraduate stipends 1690 (was previously 8170)
- Prizes 1695 (was previously 8600)

Are you looking to track Federal Express or UPS separate from USPS mail?  Object code 2581 has been created for Express Mail. This will give you the option of tracking express vs. regular mail separately.

If you have any questions on object codes or would like to recommend a new object code please contact either Valerie Nye at x3192 (email vnye@wesleyan.edu) or Sun Chyung at x2249 (email schyung@wesleyan.edu).

3. EPRINT REPORTS
The October month end reports are currently available on eprint.  You can get to eprint through the Financial Systems link on your employee portfolio and using your FRS UserID and Password.

4. INQUIRY REPORTS FOR PERSONNEL TRANSACTIONS
There are currently reports available in Inquiry to those who enter time for students and temporary employees.  Under the HRMS folder, you have access to reports on student and temp earnings, as well as work study awards.   Additionally, fiscal managers may have access to a folder titled "All Personnel" with personnel earnings information that includes position and earnings code. Another useful report for fiscal managers is the Personnel Detail Report (budget vs. actual) currently available in the Budget Management System in PeopleSoft, soon to be available in Inquiry. If you missed the recent trainings, do not have access to a report you think will be helpful to your budget management, or would like to make suggestions concerning the available reports, send email to hrms@wesleyan.edu.

5. TIP OF THE MONTH: ELF
Do all the ELF journals in your Inbox or Status box default to the description of "FRS:  JE Simple"?  Did you know you can customize that description to provide additional detail as to the content of the journal?  In your journal form, simply click on the blue highlighted Description field at the top of the screen beneath the menu buttons.  That will bring up a form that allows you to change the description.

If you have a tip that you have learned and would like to share related to ELF, HRMS, Inquiry, FRS, or any other frequently used system, please submit them to vnye@wesleyan.edu to be shared in the next edition.

6.  ACCOUNTS PAYABLE DEADLINES
All vouchers received by 4:00 p.m. on Thursday will be processed for payment for the following week's check run.  Please see the Finance and Administration web site for additional policies and procedures related to Accounts Payable.  Please note, due to the Thanksgiving holiday on November 25, all accounts payable vouchers that must be paid on Wednesday, November 24, must be received in the Accounts Payable office no later than Tuesday, November 16, at 4:00 p.m.  In addition, all accounts payable vouchers that must be paid on Friday, December 3, must be received in the accounts payable office no later than Monday, November 22, at 4:00 p.m.

Please contact Tamara Harley at x2843 or Regina Sipples at x2842 with any questions.

7.  PAYROLL DEADLINES
Please see the attached notice for special payroll deadlines due to the Thanksgiving holiday.

8. BENEFIT RATE
The full benefit rate is 25.2% and partial benefit rate is 7.65%.  The full benefit rate for grant accounts is 14.3% plus actual med/den costs (if allowable under the granting agency).

9. PURCHASING AND PROCUREMENT
Gil Thornfeldt, Director of Financial Services, now has responsibility for purchasing and procurement for the University. Please contact Gil with any requests, services issues or suggestions at extension 2958.

10. WHO TO CONTACT
Do you need assistance on an issue or problem and don't know who to contact? If so, you can get help by clicking on the following link:
http://www.wesleyan.edu/finadm/finance_and_administration_help_list.htm

Stay tuned for a brand new Finance and Administration web site tentatively scheduled for rollout on December 1.  New features will include easier to use links and expanded information. In the meantime, you can find useful information at www.wesleyan.edu/finadm.

SUBMISSIONS FOR FINANCE MONTHLY
What topics would you like to see included in this monthly communication?  Do you have a system tip you'd like to share?  Finance Monthly will be sent out on a monthly basis corresponding with the availability of month end financial reports.  Submissions for inclusion are due five business days before the end of the month and can be sent to Valerie Nye (vnye@wesleyan.edu)