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Controller's Office > News > Panther Post Newsletter

Newsletter 2019-2020 Volume 7

In this Edition...

  • Monthly Closing Calendars
  • Florida Sales Tax Rate Decrease
  • Creating Travel Authorizations
  • Invoice Documentation and Format
  • Reminders and Deadlines
  • Monthly Closing Calendars

    The December 2019 period in the general ledger has closed. When running your reports, please keep in mind that the reporting environment has a 24-hour delay in displaying data. The current and future month-end processing deadline schedules are located at Monthly Closing Deadlines.

    Decrease to Florida Sales Tax Rate for (Rental, Lease, or License to Use Real Property) – Effective January 1, 2020

    Florida imposes a 6% sales tax on the sales of most goods and certain services. In addition, Florida counties can impose a local option surtax on top of the 6% rate that varies by county. Due to the inclusion of a 1% surtax, the sales tax rate is 7% in Miami-Dade County, Broward County, and Pinellas County. Sales tax is also imposed on commercial leases and licenses to use real property. Some examples of real property rentals that are subject to tax include commercial office or retail space, conference rooms, ballrooms, stadiums, arenas, etc.

    Effective January 1, 2020, the sales tax rate on total rent charged for renting, leasing, or granting a license to use real property is reduced from 6.7% to 6.5% (5.5% plus the additional 1% surtax).

    If you have questions about this change or any other sales tax questions, please email Tax Compliance Services or call any of the Tax Compliance team members. You can also click this link to Florida Tax Information Publication (TIP) No. 19A01-11, which contains additional information related to the sales tax rate change.

    Recording sales tax in the general ledger - To accurately collect and remit the sales tax collected by the University, rental related sales tax collections should only be posted to one of the following general ledger accounts shown below. Please continue to use Department Number 110401000 and Activity Number 1104120007 for all sales tax deposit regardless of general ledger account used.

    • Account number 311318 (Sales Tax Liab MD Prop Rental) – this account is used to record/deposit sales tax for rental activity taking place in Miami-Dade County which is subject to the reduced 6.5% sales tax rate.

    • Account number 311319 (Sales Tax Liab Bwd Prop Rental) – this account is used to record/deposit sales tax for rental activity taking place in Broward County which is subject to the reduced 6.5% sales tax rate.

    • Account number 311320 (Sales Tax Liab PIN Prop Rental) – this account is used to record/deposit sales tax for rental activity taking place in Pinellas County which is subject to the reduced 6.5% sales tax rate.

    Creating Travel Authorizations

    When creating Travel Authorizations in the Financial System, list all anticipated expenses by the expense type. This includes the expenses that are out-of-pocket and paid with the University Credit Card. Do Not list prepaid expenses in the “Benefit to FIU or Project” area of Travel Authorizations or Expense Reports. Prepaid expenses do not need to be encumbered since they are already paid.

    Invoice Documentation and Format

    In most cases, AP will only need the invoice (with the PO number printed on the invoice) to process an invoice. Please do not include copies of the actual purchase order or requisition.

    Invoices should have the PO number printed clearly on the first page of the invoice. The OCR system used in Accounts Payable does not recognize handwriting. Having the PO printed on the invoice will reduce errors and unnecessary delays. Please work with your vendors to encourage them to include the PO number on all invoices.


    Let’s expedite approving Travel Authorizations, Cash Advances, and Expense Reports. Documents that have not been completely finalized and are older than 90 days will be cancelled or deleted by the Travel Department. A list of pending documents is located here. Information regarding report status abbreviations and how to close or cancel Travel Authorizations and/or Expense Reports can be found here.

    Departmental Card Deadline

    As a reminder, departmental card billing transactions regularly load the first business day of the month; program participants will have 10 days to process this activity in its entirety. This month's billing statement (dated December 31, 2019) loaded into PantherSoft on January 2, 2020 and must be completely processed by the end of the business day on January 17, 2020.

    Any charges not processed by the closing deadline will be automatically charged to the cardholder's default accounting on file and will not be eligible for a transfer. Cardholders with three unjustified non-approvals in the same fiscal year will have their card temporarily suspended until they complete a retraining session

    Entering Receipts in PeopleSoft

    The receiving against the PO should be done as soon as the items are received or services are rendered. Please DO NOT WAIT UNTIL AN INVOICE IS RECEIVED.

    The receiving date in PeopleSoft should always be the date the product was received or service rendered – not the date that the actual receiving entry is made. This is a mandatory field.

    Below is an excerpt from the job aid:

    The job aid can be found under the Procure to Pay header at the Controller's Training website.

    Should you have questions regarding this course, please call the Financial Systems and Support Services Help Desk at 7-7200 or email controller@fiu.edu.

    If you have completed the receiving entry for an order or an invoice and continue to receive an e-mail requesting a receiving transaction, please contact Accounts Payable at 7-2161 to clear the match exception. Please do not resend the invoice to invoices@fiu.edu.

    Market Place Orders

    In September 2019, all myFIUmarket orders will be invoiced electronically. Accounts Payable will receive the invoices through a cXML file.

    What has not changed?

  • Vouchers will still be created in PeopleSoft.

  • Receipts will still need to be created before a payment is issued.

  • What will change?

  • Accounts Payable will receive the invoices electronically through a secure cXML file.

  • Invoice copies will not be mailed or e-mailed to FIU. Invoice copies can be requested directly from the vendor if absolutely necessary.

  • These changes will only effect myFIUmarket orders. All orders placed outside of the marketplace will remain the same.

    How to sign up for the Panther Post Newsletter

    If you wish to be added to the ListServ for the Panther Post, please email controller@fiu.edu.

    Office of the Controller