Finance Monthly - April 2006
18th Edition

Systems
        1. Month End Reports - Note Inquiry Delay
        2. ELF, FRS, Inquiry, HRMS: Report Training
Deadlines
        3. Accounts Payable Deadlines
        4. Year End:  It's Almost Here
Other News
        5. Commercial Card Policies and Procedures Reminders
        6. Wes Station Stamp Purchases
        7. Who to Contact?
        

1. MONTH END REPORTS
The March month end jobs have successfully run and the reports are currently available on Eprint.  Users can access Eprint through the Administrative Applications area in their employee portfolio and by using their FRS operator number as the UserID and FRS Password as the Eprint password.

Please note that, due to a delay in the month end processing, the Inquiry data does not yet reflect activity from month end jobs or last Friday's batches.  This activity will be available later today and tonight's load will be postponed to allow tomorrow for month end reports.  Watch the "Inquiry Load Status" in red on the Inquiry system for important data information.


2. ELF, FRS, INQUIRY, HRMS: Report Training
The Inquiry financial system is a very powerful reporting tool and the Finance office wants to be sure you are getting the maximum benefit out of what is available.  We are looking to hold a training session at the end of April and would like input from you as to what aspects of Inquiry you would like help with. 

For instance, did you know there are employee earnings reports available for restricted accounts? detail for POSIM invoices? faster ways to find cash receipts?   Let us know what you'd like us to include as part of a training session by emailing Nathan Peters at npeters@wesleyan.edu.  Look for registration materials shortly.


3.  ACCOUNTS PAYABLE DEADLINES
All vouchers received by 4 pm on Thursday are processed for payment on the following Friday with the exception of holiday deadlines. 

Please see the Finance website for additional Accounts Payable policies and procedures. 

Contact Tammy Harley, x 2843 or Regina Sipples, x2842 with any questions


4.  YEAR END: It's Almost Here
Now is the time to start looking at your budgets and projecting for the end of the fiscal year.  It is very important that approved budget totals are not exceeded.  All fiscal 06 expenditures should be invoiced by the June 14 accounts payable deadline.

In addition, please note that accounting rules require an expense be charged to the year in which it pertains.  Therefore, any purchase not received until after June 30 or any expense that relates to Fiscal 07 cannot be charged to the Fiscal 06 budget.  The new fiscal year will be open for processing at the beginning of June.  At that point please be sure to complete the Fiscal Year line on the accounts payable voucher.

If there are any questions about year end at this point please contact either Valerie Nye, x3192 or Sun Chyung, x2249.  Look for a more detailed calendar in the next newsletter.


5.  COMMERCIAL CARD POLICIES AND PROCEDURES REMINDERS
Please note these important policies and procedures with regard to the use of the Commercial Card. 

• It is the responsibility of the Cardholder to obtain a receipt from a vendor each time the card is used.  Receipts include ALL gas, restaurant, airline, hotel, on-line, and service contract expenses. 
• The monthly statement is mailed directly to the Cardholder.  Receipts and invoices, with the items or services listed in detail, should be attached to the Cardholder's respective monthly statement and submitted to Christine Rodrigue in Finance, within 21 business days of receipt.  
• THE STATEMENT REQUIRES THE SIGNATURE OF BOTH THE CARDHOLDER AND THEIR SUPERVISOR.  There is a space on the first page and remittance portion of the statement for these signatures.  
• The maximum cash advance is $350 per monthly billing period.

Effective with the April 2006 statements, Cardholder's supervisors will be electronically notified of their respective employee's monthly card activity.  

The complete BoA VISA Commercial Credit Card Policies and Procedures may be found at

http://www.wesleyan.edu/finance/financeDept/accounts/travelPolicy.html

Please contact Nate Peters, x2833 or Christine Rodrigue, x3502 with any questions or concerns. 


6. WES STATION STAMPS
Effective Wednesday, April 12, Wes Station will no longer be a USPS Contract Station.  All of the services that Wes Station currently provides will remain unchanged.  However, the processing of stamp purchases will change.   Previously a department would purchase stamps by requesting a check payable to the Postmaster and present it to Wes Station.  Under the new contract, Wes Station now owns the stamps directly and can do a department chargeout for stamp purchases, with the appropriate approvals.  Please see the attached Stamp Order Form.

Look for more information to come from Lisa Davis, Manager of Wes Station, regarding this new process.  In the meantime, please do not request Accounts Payable checks payable to the Postmaster for stamps.


7. WHO TO CONTACT
Do you need assistance on an issue or problem and don't know who to contact? Find your contact by clicking on the following link:
http://www.wesleyan.edu/finance/misc/contactInformation/


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 emailed on a monthly basis, corresponding with the availability of month end financial reports.  Items for inclusion are due five business days before the end of each month and can be submitted to Valerie Nye, vnye@wesleyan.edu.

 

WESLEYAN STATION STAMP ORDER FORM.doc