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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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 in both MMC and BBC campuses. 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: 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
Target Audience: All PantherSoft Users
Chart of Accounts Redesign Project Important Update:
As part of the Chart of Accounts redesign project, various department ID's were identified for deactivation. During the deactivation phase of the project, the activity within these department ID's was moved to a designated active Department ID as identified by the respective area Budget Managers/Financial Administrators. The list of department ID's inactivated as part of the Chart of Accounts Redesign project and the respective "move to" department ID can be found at: http://finance.fiu.edu/coa/Deactiv_Dept.html. Please note that these inactivated departments are now blocked from posting any transaction journals and as such, you must use the "move to" department to process all transactions going forward. If you have any questions, please contact Desiree Elias, Assistant Controller, at ext 7-7662.
Merchant Services Reminders:
If your department accepts credit cards as a form of payment for goods and services, you are considered a merchant; therefore, you must also comply with PCI DSS regulations. PCI DSS stands for Payment Credit Industry Data Security Standard. We will review all twelve requirements in the months ahead. In this month's Panther Post edition, we will cover PCI requirement number nine.
Requirement nine (9) states that we must restrict physical access to cardholder data*. By restricting physical access to data, we are decreasing the possibility of fraudulent activity. It increases risk to collect sensitive credit card information via paper form.
Consequently, FIU departments must not use forms to collect credit card data. The credit card companies have their own credit card slip with legal binding descriptions of a consensual transaction. The consequences of creating a paper form can lead to violations of PCI standards, increase human error (incorrect account number), loss of income (not obtaining a confirmation or approval number from the corresponding bank) and most importantly, FIU would not be able to legally hold the customer accountable for a declined transaction. For more information on PCI and Understanding the Intent of the requirements visit:
*Cardholder data includes: Primary Account number (PAN), cardholder name, expiration date and Service code.
Credit Card Journals Reminder:
Due to the Chart of Accounts Redesign project, please keep in mind the FY 2011-2012 deadlines for creating credit card journals are the following:
June 28, 2012 will be the last day to create credit card journals for the month of June.
Please ensure to batch-out/settle the terminals on a daily basis. Those of you with internet locations, make sure to print out the settlement report on a daily basis.
For sales during the period of June 29 - July 8, please keep an envelope per day with the batch/settlement, along with the backup documents to ensure your department can create the journals on July 9, 2012.
Any chargebacks and/or adjustments must be recorded by no later than June 28.
Please ensure that your department has a designated staff member to create the credit card journals on a daily basis. If you have any changes or concerns with the deadlines, please contact Julia Cancino, Accountant, at ext. 7-2052 or via email at email@example.com
Petty Cash and Participant Payments Funds Reminder:
For departments that have petty cash and participant payment funds, please remember that the Petty Cash Custodian Acknowledgement forms and Participant Payment Fund Custodian Acknowledgement forms for FY 2012-13 must be completed and submitted by July 15, 2012 to the Controller's Office to the attention of Raul Velez, Senior Accountant.
Monthly Closing Calendars:
The May 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 deadlines that enable us to maintain a timely financial reporting process. For the month of June, please view the Year End Deadlines for Fiscal Year 2011-2012 Memorandum.
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
Year End: As the fiscal year end approaches, please be mindful of the following:
Orders physically received should be received in PeopleSoft immediately.
Any receipts not processed and paid by June 15th will be included in the next fiscal year's budget.
All (encumbered and unencumbered) payments requests received on or prior to June 15, 2012 will be processed by June 29, 2012 against the FY 2011-12 budget.
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 as of June 1st, the e-mails are being sent out everyday (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:
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 TAís are encumbering funds that could be available for other budgetary use this fiscal year.
As of June 18, 2012, any approved TAís with a travel period ending 3/31/2012 or prior that have not been populated to an Expense report will be closed. Pending TAs will be deleted. Expense Reports created 3/31/2012 or prior that are in a pending status will be deleted by the Travel Dept. from the financial system.
As of June 18, 2012, all pending documents (Travel Authorizations, Cash Advances, and Expense Reports) will be deleted from the system and will need to be recreated in the new fiscal year.
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.
Travelers who have not reconciled received Cash Advances within thirty (30) days after the completion of a trip, will not be allowed another cash advance for twelve (12) months.
Travel Services Contact Information
Target Audience: All PantherSoft Users
Important End of the Fiscal Year Deadline Reminders:
As a reminder, the last day to make purchases using the Departmental Card for transactions intended to be charged to your FY 2011-12 Budget is June 14, 2012. It should be noted if the transaction is not presented to JP Morgan Chase by this date, it may be charged to your FY 2012-13 Budget.
Cardholders may continue to use your Departmental Card through the end of the fiscal year, however all transactions posted by JP Morgan Chase after June 19, 2012, will be charged to FY 2012-13 Budget.
Attention All Cardholders and Approvers - We will have two (2) uploads in the month of June; it is vital that all units have resources available to facilitate the processing of this card activity!
The May 31st billing statement (containing May 1-31 transactions) is available for approval. This activity must be approved in PantherSoft no later than June 15, 2012. Any charges not processed by this date may be expensed to the cardholder's default Department ID.
A portion of the June 30th billing statement (containing June 1th - June 19th transactions) will be available for approval in PantherSoft on June 21, 2012. All transactions must be approved in PantherSoft no later than June 27, 2012; these transactions will be charged to your FY 2011-12 Budget. Any charges not processed by this date may be expensed to the Cardholder's default Department ID.
The remaining balance of the June 30th billing statement (June 20th - June 30th transactions) will be available for approval on July 09, 2012 and must be approved in PantherSoft by July 23, 2012. These transactions will be charged to your FY 2012-13 Budget.
FY 2011-10 Year End Processing Deadlines
Last Day to submit Departmental Card Transfers for FY12 with a guarantee that they will be processed in FY 2012.
The May 31st billing statement (May 1 - 31 transactions) available in PS for approval as scheduled.
Last day to make purchases using the Departmental Card to be charged to FY 2011-12*
Last day to Approve transactions for the May 30th billing statement in PantherSoft
Partial June 30th billing statement (June 1 - June 19th transactions) will be available for Approval in PantherSoft**
Last day to Approve transactions for the partial June 30th billing statement in PantherSoft**
The remaining balance of the June 30th billing statement (June 20th- June 30th transactions) will be available for Approval in PantherSoft***
Last day to process and Approve transactions from the remaining June 30th billing statement in PantherSoft.***
* It should be noted if the transaction is not presented to JP Morgan Chase by this date, it may be charged to your FY 2012-13 Budget. You may continue to use your Departmental card through the end of the fiscal year; however, all transactions posted by JP Morgan after June 19, 2012, will be charged to your FY 12-13 Budget.
** These transactions will be charged to FY 2011-12 Budget.
*** These transactions will be charged to FY 2012-13 Budget.
Enhanced Support for PaymentNet® 4 Now Available:
The Credit Card Solutions Team is happy to announce that effective June 1, 2012, J.P. Morgan Chase will begin providing direct PaymentNet support to all program participants. This dedicated team is available to assist when you need help logging on or performing other common tasks in the PaymentNet system.
By calling 1-800-270-7760 (also located on the back of your card), you will be transferred to a specially-trained PaymentNet 4 consultant. When making the call, you will be prompted by the system to verify your identity. After doing so, you can press 0 to be connected to a consultant. Support is available between the hours of 5:00 a.m., Central Time (CT) and 1:00 a.m., CT, Monday - Friday.
If you have not logged into the PaymentNet system since the program went live or have forgotten your password, please contact PaymentNet Support or the 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.
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.
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.
Have additional questions about The Credit Card Solutions Program? Answers are only a click away!
For additional information, please visit our program manuals online at
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.