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Petty Cash Funds How to complete an eCHECK Request for Petty Cash 1 Updated 8/10/2013.

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Presentation on theme: "Petty Cash Funds How to complete an eCHECK Request for Petty Cash 1 Updated 8/10/2013."— Presentation transcript:

1 Petty Cash Funds How to complete an eCHECK Request for Petty Cash 1 Updated 8/10/2013

2 Petty Cash: Title The Title must start with the words “Petty Cash” followed by other pertinent information which the preparer would like to add. 2

3 Petty Cash: Payment Type Click on the select button next to Payment Type and choose 11: Petty Cash. 3

4 Petty Cash: Payee Name The Payee is the custodian of the Petty Cash fund. Enter and search for their name. – If multiple names appear, verify their UM ID# to ensure the selection of the correct payee. Once you have located the payee, click Select to populate the payee field. 4

5 Petty Cash: Create New Payee If the fund custodian’s name doesn’t appear, click New to create a new payee. You will be brought to the Create Custom Payee Screen. 5

6 Petty Cash: Create New Payee 6 For Tax ID Type, select UM Employee ID Number (UEIN). Ex. C12345678 (Payee Name field should automatically populate) In Payee/TAX ID/SSN/ UM ID#, enter the Payee’s UM ID #. Enter the Payee’s address info: Country, Street Address, City, State, Zip Code. For Payee Service Type, select No Special Payee Service Type. For Ownership Type, select Individual.

7 Petty Cash: Create New Payee Select Save once you’ve entered all information accurately: 7

8 Petty Cash: Amount Enter the Payment Amount and select Next. 8

9 Petty Cash: Accounting Enter the Account and the Object Code in the appropriate fields. Click the select button next to Account or Object Code to search possible entries. 9

10 Petty Cash: Split Accounting To split accounting among multiple accounts or object codes, select the Add button to create a new accounting line. – Up to 15 can be used per eCHECK Request). 10

11 Petty Cash: Accounting Once account info is entered, click Next. 11

12 Petty Cash: Tax Information Petty Cash transaction only require the Payee’s UM ID #, which should populate automatically. Click Next. 12

13 Petty Cash: Delivery Verify the address on file for the Payee. An address edit should be done on the Summary Page.*  See slide number 21 for further details. Select Yes for “Does address match invoice?” 13 *Editing the existing saved address is a temporary change that will not apply to future submissions.

14 Petty Cash: Delivery Mark No to Enclosures and FedEx Delivery. 14

15 Petty Cash: Delivery Petty Cash items should be held for pick up (exempt from VP approval requirement for internal distribution). Check the Internal Distribution box. Enter “Petty Cash” as the Reason. Click Next. 15

16 Petty Cash: Stub Information Include the following information in Stub Information:  Replenishment Amount Requested  Cash on Hand  Total Petty Cash Fund Amount 16

17 Petty Cash: Explanation of Request Include the business purpose of the replenishment in Explanation of Request. Click Next. 17

18 Petty Cash: Instructions Read through the Instruction Screen. Click Next. 18 All receipts and other backup documentation must be scanned and attached to the eCHECK Request. Departments must retain original hardcopies of backup documentation until the eCheck has been fully approved by Disbursements or Office of Research Administration. At which point, the hardcopies can be properly disposed of.

19 Petty Cash: Approval Flow Review the Approval Flow for accuracy. The payee/custodian cannot also be the account approver. If so, an additional authorized departmental approver will need to be added. To continue, Select Next. 19

20 Petty Cash: Summary On the summary screen, verify that all information is entered correctly, particularly the delivery information. To save any changes made on this screen, select the Update button. 20

21 Petty Cash: Summary Screen The address fields allow for editing, any necessary delivery information change should be made on the Summary Screen*. Once address changes are made on the summary screen, click the Update Button to verify your change. This change doesn’t permanently update the address, only for this eCHECK Request. 21

22 Petty Cash: Summary Scan all backup documentation related to the petty cash replenishment, including all receipts and applicable W9s and W8BENs and save them to your hard drive. – PDF is the suggested file type for all attachments. Scroll to the bottom of the page and select Add Attachment. 22

23 Petty Cash: Summary Select Browse. Locate the saved document. Select Open. 23

24 Petty Cash: Summary Click OK. Select Submit. 24

25 Petty Cash eCHECK Request: Participant Payment If the eCHECK Request is for replenishment is of funds for research subject payments, complete the Excel Spreadsheet for Research Participant Payment located on the Accounts Payable website. This needs to be part of the eCHECK Request submission, in order for full approval. Spreadsheet for Research Participant Payment Email the spreadsheet to Disbursements at:  The file name should be a combination of the eCHECK Request number and the custodian’s name (C123456JohnDoe.xls). A W-9 or W-8BEN is required for each participant paid $600.00 or more for the calendar year or for non- confidential studies. 25

26 To establish a new Petty Cash fund, the eCHECK Request must be charged to the following:  Account: 011121  Object Code: 1131 The request must be accompanied by the following completed forms:  Petty Cash Fund Form Petty Cash Fund Form  Petty Cash Deduction Authorization Form Petty Cash Deduction Authorization Form  Petty Cash Profile Form Petty Cash Profile Form  Justification Memo or Research Participant Payment Questionnaire 26 Petty Cash: Creating a New Fund

27 If the new fund is for research studies, the Research Participant Payment Questionnaire is also required.  For confidential research studies, the fund custodian must receive prior approval from the controller, which needs to accompany the request. For the complete petty cash policy go to: 27

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