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Controller's Office > News > Panther Post Newsletter

Newsletter 2016-2017 Volume 8

In this Edition...

  • Monthly Closing Calendar
  • ePro Update
  • Amazon Business Account
  • IRS Form 1098-T for 2016 is now available online
  • IRS Form 1099-MISC for 2016 has been mailed to Vendors
  • Reminders and Deadlines
  • Monthly Closing Calendars

    The January 2017 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 can be found at: Monthly Closing Deadlines.


    ePro Update

    Purchasing Services has worked with FSSS and the PantherSoft Support Team in the Division of IT to update the ship to locations for MMC used for requisitions/purchase orders in PantherSoft. The ship to locations for MMC will now appear as the main campus address (11200 SW 8th Street) and will include a building and room number. The physical address of the actual building will no longer appear as this was causing confusion and delays in relation to delivery of goods to MMC. This change is scheduled to be in place in PantherSoft on February 6, 2017.

    Please note that the default ship to location for each requestor will still be the individual's office building and room number. However, this can be changed by the requestor on any given requisition as needed. If a requestor would like to change the default location overall, a request outlining the preferred default location should be sent to controller@fiu.edu.


    Amazon Business Account

    Effective August 2016, all Amazon purchases using the Pcard must be made with the FIU Business Account. All cardholders must activate their Business Account to use this centralized account.

    If you are a cardholder and have not previously accepted your invitation, look for an email invitation that will walk you through a quick and easy process on Monday, February 13, 2017. The invitation expires after 7 days, so urgent attention is required.

    Tip: If you do not see the invitation in your inbox, please check your clutter or junk mail folders. The subject line will be: Welcome to Amazon for Business.


    IRS Form 1098-T for 2016 is now available online

    The IRS Form 1098-T (Tuition statement) for 2016 is now available online via the MyFIU portal. The Form 1098-T reports tuition charged and financial aid awarded to students enrolled in courses during the calendar year for which they receive academic credit. The information reported on Form 1098-T helps students evaluate their eligibility for certain Federal tax benefits. In accordance with Internal Revenue Service requirements, Florida International University (FIU) reports amounts billed during the calendar year for qualified tuition and related fees. The amounts reported on Form 1098-T may differ from the amounts relevant for claiming any tax benefits. For information regarding filing your tax return, tax benefits for education and tax credits or deductions relating to your Form 1098-T, please consult a tax professional. No Office of the Controller employee, nor any other Florida International University employee can provide individual tax advice.

    Also note that the University does not issue a Form 1098-T in the following cases:

  • If tuition and related expenses are completely waived;
  • If tuition and related expenses are entirely paid by scholarships or grants;
  • If a student is a nonresident alien;
  • If a student is enrolled only in not-for-credit courses.

  • IRS Form 1099-MISC for 2016 has been mailed to Vendors

    The IRS Form 1099-MISC for 2016 has been mailed to vendors as of January 31, 2017. Form 1099-MISC is used to report payments made to individuals and certain businesses (suppliers) that received payments from Florida International University (FIU) in excess of the $600 reporting threshold during calendar year 2016.

    The IRS requires that Florida International University obtain a Taxpayer Identification Number (TIN) for every person or business that receives payment. This information is provided on IRS Form W-9. US Citizens and Resident Aliens are required to complete a Form W-9 before receiving any payments from the FIU.

    Travel Reminder

    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. Call 7-2543 for inquiries.

    For a list of pending documents, please click here. For information regarding report status abbreviations and how to close or cancel Travel Authorizations and/or Expense Reports, please click here.


    Monthly Departmental Card Deadline

    As a reminder, this month's billing statement (dated 01/31/2017) loaded into PantherSoft on February 2nd and must be completely processed by the end of business on February 16, 2017.

    Any charges not processed by the closing deadline will be automatically charged to the cardholder's default accounting on file and will not eligible for expense transfer.

    Additionally, cardholders with three unjustified non-approvals in the same fiscal year will have their card limits temporarily suspended until they complete a retraining session.


    Unidentified Wire Transfers and ACH Payments

    The Controller's Office occasionally receives payments that cannot be applied to the appropriate department due to inadequate information. Click here for the list of unidentified wire transfers and ACH payments as of January 2017.

    To claim a payment, please contact Cash Management and provide the following information:

  • payment details

  • activity details

  • account to which the payment should be recorded
  • Payments that are not identified within 45 days of the wire/ACH date will be returned to the sender.

    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