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Controller's Office > News > Panther Post Newsletter

Newsletter 2013-2014 Volume 11

In this Edition...

  • Monthly Closing Calendars
  • Fiscal Year End 2013-14 Memo is Now Available
  • Procedure Reminders for Merchant Departments
  • Outstanding Fund Balances in Fund 604
  • Updated Credit Card Solutions Frequently Asked Questions
  • UPS Re-Weigh Charge for Shipment
  • Journal Voucher Deadlines
  • Important Reminder Regarding Invoice Processing/Fiscal Year End
  • Accounts Payable Letter Assignments
  • Payments Issued to Foreign Vendors
  • Scanning Solution
  • Fly America Act Update
  • Requisition Document Status Page Updates
  • Updated Instructions for New Activity Number Requests
  • Property Auction
  • Reminders and Deadlines
  • Monthly Closing Calendars

    The April 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. The current month schedule can be found at: Monthly Closing Deadlines.

    Fiscal Year End 2013-14 Memorandum is now Available

    The fiscal year end closing process is quickly approaching. In preparation of the fiscal year end close, please refer to the FY2013-14 Year End Memorandum for important information including all year end closing deadlines and a listing of departmental contacts. Our team counts on you to meet crucial year end and monthly closing deadlines, so we thank you for your efforts and cooperation throughout the year.

    Procedure Reminders for Merchant Departments

    For all departments accepting credit card as a form of payment, please see the procedure reminders outlined below:

    1. When creating a credit card journal entry in PeopleSoft Financials, please include the following information in the "Long Description" field:

      • Type of credit card:
        • AMEX
        • VS/MC/DISC
      • Settlement/batch date
      • Brief description of the sale
      • Net amount of the sales/refunds
      • Department name
      • Comment if the sale is tax exempt

    2. Departments are required to record credit card sales as a journal entry within 24 to 48 hours after the sale has occurred.

    3. If a department is unsure whether an activity gives rise to sales tax, they should contact the Tax Services department of the Controller's Office and/or refer to the University's Sales Tax Policy for further guidance.

    4. Departments that accept credit cards as a form of payment are considered a cash collection point and must adhere to the University's Cash Control Policy.

    If you have any questions, please contact Migdali Torres at (305) 348-2557 or Eva Ramirez at (305) 348-2547.

    Outstanding Fund Balances in Fund 604

    As we approach fiscal year end, we would like to remind all Finance Managers to review outstanding expense balances in Fund 604 Activity numbers that have not been reimbursed by Foundation or other DSOs to ensure that reimbursement requests are submitted to Foundation with sufficient time to be processed by this year's deadline. Otherwise, as per the procedures for DSO reimbursements available in the Controller's website at the following link: Accounting for Funds Received from DSOs, unreimbursed expenses by the end of the fiscal year will be charged to an alternate Activity ID that has available funding. We recommend that you refer to the Fiscal Year End procedures Memo that includes important deadlines relating to DSO reimbursements. Please contact Desiree Elias, Assistant Controller, if you have any questions regarding the accounting for DSO reimbursements.

    Updated Credit Card Solutions Frequently Asked Questions

    An FAQ document has been created for your convenience and is available on the Controller's website. A range of topics are covered and should prove to be quite useful for those moments when you have a "quick question". Enjoy!

    Credit Card Solutions - FAQs

    UPS Re-Weigh Charge for Shipment

    When reviewing your monthly billing statement, did you find a UPS charge that you could not identify? Most commonly, this charge is the result of a "package audit" performed by UPS, where they re-weigh your shipment and calculate the price to the actual package weight. UPS is available by phone or online to assist you in indentifying the charge and to provide you with the invoice needed to complete the reconciliation process:

    1. The user can call billing to obtain details of the adjustment. User needs to provide the reference number and amount billed on the credit card card statement. The call in number is 1.800.811.1648. A trained UPS agent will provide details and can email you a detailed invoice of the adjustment.

    2. User can email UPS at enterprisesupport@ups.com. User needs to provide reference number and the amount of adjustment to request details. UPS will email you a detailed invoice of the adjustment.

    Journal Voucher Deadlines

    Please note the deadlines (for the remainder of the fiscal year) below for AP journal vouchers. Any journal voucher received after the stated date will be processed the following month:

    May - Friday, May 23rd
    June - Friday, June 20th

    Important Reminder Regarding Invoice Processing/Fiscal Year End

    As the fiscal year end approaches, we would like to remind you to complete the receiving in PantherSoft as soon as services are rendered or ordered items are received. In most circumstances, you should not need to review the invoice in order to complete the receiving in PantherSoft. Orders are received in the system based on what is received, which should be solidified by the packing slip.

    Vendors should send all invoices directly to Accounts Payable. You do not need any invoice information to receive items in Panthersoft.

    An invoice will only be approved for payment when all of the below criteria are met:

    1. The price of an item(s) equals the price on the PO
    2. The items being billed are 'received' in PantherSoft

    In other words, the ordering department controls when payments are made by controlling the receiving of the merchandise or service in PantherSoft.

    Accounts Payable Letter Assignments

    Below are the letter assignments for the staff:

    Beatriz Castaneda A, X, Y, Electronic Unencumbered, Foreign & Single Payments
    Karla Alfaro B, C, D, G, N
    Johaira Pilarte F, H, I, J, K, L, M
    Zerelda Rodriguez Q, R, S, T, U, V, W
    Zoila Romero All other letters

    Payments Issued to Foreign Vendors

    We strongly encourage that all payments made to foreign vendors be made via wire. In the event that a check must be issued, please forward a UPS shipping label to Maria Luisa Roque in Accounts Payable. Checks will not be released to the requesting department.

    Scanning Solution

    The Accounts Payable department will be implementing a new scanning solution this summer. Although the changes will be mostly transparent, your cooperation will be an integral part of the success of the changes.

    While the implementation will not occur for a few months, there are steps that you can take now. Please make note of the following in order to ensure that vendor invoices are processed and paid in a timely manner:

    1. Delivery of Invoices

      • The best practice is for the vendor to send the invoices directly to Accounts Payable.

      • We are no longer receiving faxes to 305-348-1774. This fax line is inactive.

      • Invoices@fiu.edu should be used ONLY for invoices.
        • The e-mail will be system monitored.
        • Questions or comments on the e-mails will NOT be read or responded to.
        • Any special handling requests should be noted on the face of the invoice.

      • Invoices will only be accepted in PDF format. Include one invoice (along with supporting documentation) per PDF document. Once we go live, the system will only read the first invoice. All other pages will be considered supporting documentation.

      • Questions regarding payment status should be directed to the AP Fiscal Assistant assigned to the vendor.

    2. When placing orders, ensure that the vendor has the correct (current and valid) purchase order number.

    3. Invoices should not be handwritten. Handwritten invoices will have a slower turnaround time. All invoices should have the PO number typed on the invoice.

    4. If goods or services will be settled with a purchasing card, please coordinate with the vendor so that tne invoices are NOT sent to AP.

    Invoices will continue to be accepted by mail and interoffice mail. However, invoices submitted by e-mail to invoices@fiu.edu will have a quicker turnaround time.

    The new e-mail address is active. You may begin using it immediately.

    If you have any questions regarding the above, please contact Liza Del Campo at (305) 348-3889.

    Fly America Act Update

    When traveling to and/or from foreign countries, travelers are required to use United States Air Carriers when the airfare is funded by the U.S. government. FIU does not enforce this requirement when non-federal funds are used. Federal funds are identified by any project ID# using fund codes 660 and 661.

    Requisition Document Status Page Updates

    Panthersoft has made additional updates to the 'Requisitions Document Status' page so that users can identify who the approvers are. Effective April 18th, after a requisition ID is in pending status, corresponding approvers will be displayed within a grid at the bottom of the requisition document status page by navigating to Purchasing > Requisitions > Review Requisition Information > Document Status. The grid is hidden when there are no approvers.

    Please contact the Financials Systems Support Services call center at 7-7200 should you have any questions. For reference, see following image:

    Updated Instructions for New Activity Number Requests

    Below are updated instructions for requests for new activity numbers:

    • The request must include a detailed description of:
      • All revenue streams, if applicable
      • What the money will be used for (ie. faculty to instruct, faculty development, research activities, academic advising, etc.)

    Property Auction

    The Surplus Warehouse will be closed beginning Wednesday, May 7th in preparation for the upcoming auction. The re-opening date will be announced in the next newsletter.

    All Surplus Transfer Forms for the Warehouse submitted to Property Control after Friday, April 25th are being held until the Warehouse reopens.

    The property auction for the Surplus Warehouse has been scheduled for Wednesday, May 21st. All are invited.

    Items to be auctioned include personal computers, laptops, printers, scanners, faxes, copiers, furniture, refrigerators, audio visual equipment, vehicles, & more.

    Registration begins at 9:00 a.m. and the bid process starts at 10:00 a.m. For additional information please call 305-348-2167.

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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 month's billing statement (dated 4/30/14) loaded into PantherSoft on May 1st and must be completely processed by the end of business on May 15, 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 approach year end for the fiscal year of 2013-2014, 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 deleted by the Travel Department.

    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 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 May 5, 2014.

    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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