In this Edition...
Year End Deadlines
Accounting and Reporting Services
Payment Services - Accounts Payable
Payment Services - Travel Services
Payment Services - Credit Card Solutions
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Target Audience: University Community
This year, the General Ledger will close on July 3, 2012 due to the transition to the new Chart of Accounts in our financial systems. Accordingly, closing deadlines for the upcoming fiscal year end have been moved up.
Please take special notice of the information contained in this document, and share it with your staff and others you deem appropriate. If you have questions or need further information, please do not hesitate to contact the Controllerís Office at 305-348-2161. Note that these year-end deadlines do not apply to Sponsored Projects which are not based on the fiscal year time frame.
The following dates have been established as deadlines for processing transactions to be charged to FY 2011-12. Transactions not processed by these dates will be recorded in FY2012-13 and charged to your FY2012-13 budget. Due to the upcoming system conversion, there will be NO EXCEPTIONS to the dates herein.
Year End Deadlines for Fiscal Year 2011-2012 Memorandum
The Chart of Accounts Redesign Project:
Please note that the PantherSoft Financials System will be down July 4th through 8th. During that time all Panthersoft Financials system modules will be unavailable, including Purchasing, Accounts Payable, Travel & Expense, and Asset Management. We ask that all departments plan accordingly. Any planned purchases, payments, reimbursements, or travel authorizations should be processed prior to those dates. Additional information can be found on the Chart of Account Redesign Project Website.
The Chart of Account Redesign Project officially kicked off on December 2010 in an effort to enhance the financial information available to the university community for analysis and decision-making.
The Financial Systems and Support training team will be conducting Open Labs and updating the User Productivity Kit (UPK) online tool to assist end users during the conversion. Open Labs will begin July 9 (Times/Location TBA) in both MMC and BBC campus. There are also additional training resources, FAQís, presentations and announcements available on the Chart of Accounts Website. Please make this web site your point of reference for the COA project updates as well as resources.
Target Audience: All PantherSoft Users
Upcoming Accounting Change for DSO Reimbursement:
To comply with the State of Florida Auditor Generalís directive that all universities report reimbursements from direct support organizations (DSOs, i.e. Foundation) in a standardized manner, the Controllerís office will be implementing changes in the current method used to account for these transactions. Currently, reimbursements from DSOís have been recorded mainly as reduction of expenses rather than revenue recognition transactions as directed by accounting principles; consequently, with the new accounting change, incoming funds will be recorded as either DSO Operating Revenue or DSO Non-Operating Revenue depending on the type of expenses being reimbursed. While the Controllerís office will have to take measures this fiscal year, i.e. record reclassification entries in the general ledger, to reflect this change in the university financial statements, departments do not have to take action at this time. We are working on finalizing the policy and procedures to have departments implement this change starting with the new fiscal year, yet in the meantime, here are some steps we have taken in preparation and some issues we want to advise you about:
Two (2) new general ledger revenue account codes have been created to use for recording DSO reimbursements received, G/L code 659090 Ė DSO Operating Revenue and G/L code 689090 Ė DSO Non-Operating Revenue. No other revenue general ledger codes can be used to record DSO reimbursements.
For Department IDs in E&G funds that receive expense reimbursements from DSOís, corresponding new Department IDís have been created in Fund 604 since revenue entries generally cannot be recorded in E&G funds. Controllerís office will be providing the respective E&G departments with the new Department IDís created in Fund 604.
Departments will have to budget for the revenue and expenses related to the DSO reimbursements expected each year.
Please note that the policy and procedures for this accounting change should be completed by early June and will be made available through the Controllerís website. We encourage you to regularly check the website, as well as our monthly Panther Post Newsletter for updates. As always, Controllerís staff will be available to assist you and answer questions related to this change.
Monthly Closing Calendars: The April 2012 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. Our team counts on you to meet crucial Monthly Closing Deadlines that enable us to maintain a timely financial reporting process. The current month schedule can be found at Accounting and Reporting Services.
If you are experiencing difficulty with PantherSoft or have questions, please feel free to contact our Call Center for assistance at Extension 7-7200. Open Labs are now offered Monday thru Friday between 9:00 a.m. and 3:30 p.m. at the Campus Support Complex (CSC) Room 1135. Please call Extension 7-7200 for an appointment. We encourage you to bring your own transactions so that we may provide you with real hands-on assistance using work related scenarios.
Accounting and Reporting Services Contact Information
Target Audience: All Finance Managers
Receiving Transaction Notifications: Panthersoft automatically generates e-mails when an invoice has been entered for payment and the associated receiving has not been completed. The e-mails are sent to the person that entered the requisition. The e-mails will continue to be sent every 5th day until the invoice has been successfully matched to the purchase order.
If you feel that you are receiving the e-mails in error, either because you did not enter the requisition or because the receiving was already completed please email Liza Del Campo at firstname.lastname@example.org immediately.
Please note that due to the upcoming fiscal year end, beginning June 1st, the e-mails will be sent out every day (instead of every 5th day).
Accounts Payable E-mail Address: The Accounts Payable department is now accepting invoices via e-mail. If you or a vendor wishes to e-mail an invoice to Accounts Payable, please send the invoices to email@example.com. Invoices should NOT be e-mailed directly to the Sr. Fiscal Assistants. We will continue to accept invoices via interoffice and regular mail. If you choose to send the invoice by e-mail, please do not send the original to Accounts Payable.
Allowable Unencumbered Purchases: The list of allowable unencumbered purchases has been recently updated. Refer to the instructions form on the Controllerís web site for the complete list:
Allowable Unencumbered Payment List
Accounts Payable Services Contact Information
Target Audience: All Finance Managers
In preparation for the FY 2011-2012 year end closing and the Chartfield Account re-design, it is important that you review and take appropriate action necessary to assist in reconciling and expediting payments to the University community. Please note, open TA's are encumbering funds that could be available for other budgetary use this fiscal year.
As of May 18, 2012, any TAís with a travel period ending prior to 1/31/2012, or Expense Reports created prior to 1/31/2012 will be closed or deleted by the Travel Dept. from the financial system.
If there are Travel Authorizations (TAís) in an approved (APR) status for trips that have already occurred, make sure an expense report is created to close those TAís.
If the travel was cancelled and there were no expense incurred, then cancel the TAís to release these encumbrances. See navigation below.
If the trip has already occurred and an Expense Report has been paid, then cancel the TA for that report.
If you are an HR Supervisor, Expense Manger or Project Manager please expedite any TAís awaiting your approval.
If guidance is needed with the process of closing Travel Authorizations (TA), the following navigation is helpful, or contact the Call Center at 7-7200 or email GLMAINT.
Navigation: Employee Self-Service> Travel and Expense Center> Travel Authorization> Cancel> Enter Travelerís Employee ID> Search> Select the TA# to Cancel> Cancel Selected Travel Authorization.
Expense Reports pending further action:
If there are Expense Reports (ERís) in a pending (PND) status, please review and if the Expense Reports need to be processed, please click the submit key.
If the Expense Reports do not need to be processed, please call the Travel Department at #7-2543 or the Call Center at 7-7200.
If you are an Expense Manger or Project Manager please expedite any Expense Reports awaiting your approval.
Approved - APR
Approvals in Process - PAR
Submitted - SUB
Pending - PND
Expense reports are required to be created ten (10) days after the completion of a trip for reimbursement and/or accountability.
Cash Advances that have not been reconciled within thirty (30) days after the completion of the travel period will not be allowed another cash advance for twelve (12) months.
Travel Services Contact Information
Target Audience: All PantherSoft Users
Restricted Vendor Reminder: The university has exceeded the bid threshold limits for Rex Chemical. Effective now thru June 30, 2012, all purchases to this merchant are prohibited with the Departmental Card. For assistance in locating an alternative merchant to Rex Chemical for your purchasing needs; please contact Tere Portuondo in Purchasing Services at 305-348-2161.
Are you leaving the University or going on extended leave? As a reminder, the Credit Card Solutions Team must be notified by the Cardholder or by the Cardholderís department whenever the Cardholder and/or Approver retires, resigns, transfers to another department, or assumes different duties that do not require participation in the Credit Card Solutions Program.
If a Cardholder is going to be absent for an extended period of time, the Cardholder (or department) should submit a Temporary Maintenance Request form, requesting that the card limits be temporarily reduced to $1 for the period that the employee will be absent. Additionally, the department should request the issuance of a Departmental Card for another qualified staff member, either temporarily or permanently to cover purchases during the primary Cardholderís extended absence. Additionally, if an Approver is going to be absent for an extended period of time, an additional Approver will need to be assigned to their cardholders profile.
To ensure that the Credit Card Solutions Program can meet your departmental purchasing needs, it is recommended that departments plan as early as possible when replacing Cardholders and/or Approvers. Consideration should be taken that new program participants will require an application process and training.
Have you logged into the PaymentNet Site yet?The JP Morganís PaymentNet system provides cardholders online access to features such as:
PDF Copy of Billing Monthly Statements
The ability to view current, live card activity as well as authorizations and declines
Access to a variety of preset transaction queries
An easy, online payment mechanism (for T&E Cardholders only)
If you have not logged into the PaymentNet system since the program went live or have forgotten your password, please contact your Credit Card Solutions Team to reset your temporary password. You can also learn more about PaymentNet and review step-by-step instructions for logging in, refer to page 41 of your Departmental card Manual and/or page 18 of your T&E Card Manual.
Are you unable to view all of the card transactions noted on your billing statement in PantherSoft?
When viewing the monthly Departmental Card activity in the PantherSoft system, please do not use the link provided in the workflow notification; this will show you only partial activity pending action. To view all transactions, log into the PantherSoft System directly.
To process Departmental Card Transactions:
1. Click here to log into PantherSoft
2. Click on Purchasing
3. Click on Procurement Cards
4. Click on Reconcile
5. Click on Reconcile Statement
6. Select your Cardholder from the employee drop down list
7. Click search; Activity for both Bank of America and Chase will be available for processing.
If you have more than nine (9) transactions and have followed the process noted above, select ďview allĒ located on the upper right hand corner of your screen. If your charges still do not appear, contact 7-7200 or your Credit Card Solutions Team for assistance.
Card Security: Each cardholder is responsible for the security of the card assigned to them. Use of the University issued Credit Cards is limited to the Cardholder whose name appears on the face of the card. Under no circumstances will a card be given or loaned out to another person.
Please remember that all precautions should be used to maintain confidentiality of all information relating to your card, such as the card number and expiration date. The Card and/or Card number should never be left in a conspicuous place, emailed or shared with anyone else, even with a trusted colleague.
Online Resources: Have additional questions about The Credit Card Solutions Program? Answers are only a click away!
For additional information on this topic as well as other, please visit our Controller's manuals.
These valuable resources can provide you quick clarification on program rules and procedures, easy access to forms and other related links; in addition to contact information to help you connect with a Credit Card Solutions Team Member.
Credit Card Solutions Contact Information
Target Audience: All PantherSoft Users
The Office of the Controller has posted the End of Year Processing Procedures on the Controllerís website and listings of open purchase order encumbrance reports for ALL funds.
For ALL FUNDS, communicate to Mr. Jimmy Carmenate, Associate Controller, Controllerís Office, those Purchase Orders that you wish to close prior to June 30, 2012. Send your requests to close purchase orders, via email only, to firstname.lastname@example.org. Read More
Purchasing Services Contact Information
The Panther Post is distributed to individuals on the following ListServ: Office of the Controller, Finance-Managers and Panther Post. If you wish to be added to the ListServ for the Panther Post, please email GLMAINT.