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Controller's Office > News > Panther Post Newsletter

Newsletter 2013-2014 Volume 8

In this Edition...

  • Monthly Closing Calendars
  • Tax Exemption Information
  • Reminders and Deadlines
  • Monthly Closing Calendars

    The January 2014 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.

    Tax Exemption Information

    Departmental Card: All transactions made within the State of Florida or that are shipped to the University directly are exempt from the State of Florida Sales and Use tax; a copy of the Universityís Certificate of Exemption is available under the Controllerís Website.

    If the Cardholder is placing an order and they are physically in a location outside of the State of Florida, then they may be charged that Stateís sales tax or any other applicable taxes from other countries. Any Federal or local taxes may not be exempt. The Cardholder should always inform the vendor that the purchase is tax-exempt before the transaction is completed. A copy of the tax exempt certificate should be presented to the vendor when placing an order in person or the certificate can be faxed or e-mailed to the vendor.

    If the vendor will not deduct the sales tax or will not honor the Florida Tax Exemption without additional paperwork, the Cardholder may continue with the purchase, but is required to make a notation on the receipt that they requested that the sales tax not be charged and that the vendor refused. This notation documents that an attempt was made not to have the sales tax charged.

    Travel & Entertainment Card: Transactions made with the T&E Card are not exempt from the State of Florida Sales and Use Tax.

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    Monthly Departmental Card Deadlines

    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 monthís billing statement (dated 1/31/14) loaded into PantherSoft on February 3rd and must be completely processed by the end of business on February 17, 2014.

    Any charges not processed by the closing deadline will be automatically charged to the cardholders 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.

    Travel Reminder

    As we continue the fiscal year of 2013-2014, letís expedite approving Travel Authorizations, Cash Advances and Expense reports. The Travel Department is diligently deleting all old reports that have not been completely processed. New Reports will need to be created for those items that have been deleted from the Financials system if necessary. Please remember that open Travel Authorizations will encumber funds until they are matched to an expense report or closed.

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

    Unidentified Wire Transfers and ACH Payments

    The Controllerís 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 December 31, 2013.

    To claim a payment, please contact Cash Management (Raul Velez, RVVelez@fiu.edu, (305) 348-2542) 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.

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    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.

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    Office of the Controller