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					  Carleton College

A Faculty & Staff Guide to the
  Business Office – FY2012
• 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 Cards
Writing a Check                         Using a Purchase Card
Initiate purchase                       Initiate purchase
Receive invoice                         Make payment
Complete new vendor set-up              Print receipt
Prepare payment request                 Print statement
Submit to Business Office               Complete 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 Payments
Writing 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
• 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
      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
   – Review all charges for completeness
       • Account numbers (PDA vs. Dept travel)
       • Receipts really matter
       • IRS documentation requirements (business purpose;
   – 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
   – 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
• 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
• 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
   – 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!
• Open Door
• Visit the Business Office – Leighton Hall
• Call or E-mail
   – Linda Thornton
   – X4171
• 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