1. A Faculty & Staff Guide to the Business Office – FY2012
Carleton College
A Faculty & Staff Guide to the Business Office – FY2012

2. Agenda What’s New for FY2012 Sharing Departmental Best Practices
Staff Changes
Promoting Purchasing Cards
Promoting ACH
Reducing Petty Cash
Improving Reporting
New Student Employment Forms to HR
Sharing Departmental Best Practices
Questions/Comments/Concerns
Thinking About the Future

4. JPMC Rebate per transaction .4%
Why Purchasing Cards
Writing a Check
Using a Purchase Card
Initiate purchase
Receive invoice
Make payment
Complete new vendor set-up
Print receipt
Prepare payment request
Print statement
Submit to Business Office
Complete payment.net review
Respond to Audit Inquires if required
Respond to Audit Inquiries if required
Enter payment request
Print checks
Mail checks or Dept Pick-up
Dept Pick-up/Mail check
Print 1099-MISC for service payments
Mail 1099-MISC for service payments
Cost per transaction $8
JPMC Rebate per transaction .4%

5. Why ACH Payments Writing a Check Making an ACH Payment
Enter payment request
Print check (s)
Transmit payment file
Mail checks or Dept Pick-up
Dept Pick-up/Mail check
5% Unclaimed Property
Cost per transaction $8
Cost per transaction <$1

6. Why Eliminate Dept Petty Cash
Reduce administrative assistant responsibilities
Improve timeliness of departmental budget reporting
Improve institutional compliance
Reduce risk of theft
Temporary (event specific) requests continue (i.e. PEAR)

7. Why Reporting? Increase transparency
Improve access (new security roles)
More informative – “What I need to know”
Tell us what you like and dislike
What’s on your wish list?
Julie Latham, ITS

8. Why New Student Employee Forms to HR
Create common new employee experience
Address audit requirement to segregate duties
Increase proximity to SFS (positions)/HR (forms)
Enhance student employee training and relationships

9. Best Practices (from your peers)
Purchasing Cards
Print and deliver statements to faculty 1st of the month with due date.
Faculty checklist to keep track of those on OCS or not on schedule.
Review all charges for completeness
Account numbers (PDA vs. Dept travel)
Receipts really matter
IRS documentation requirements (business purpose; attending)
Discuss concerns with Dept Chair or Business Office
Send complete package to Business Office
BENEFIT: Happy Faculty with NO AUDIT EXCEPTIONS to resolve with the Business Office.

10. Best Practices (from your peers)
Payment Requests
Complete – account numbers; business purpose; IRS required documentation.
Authorized - signatures; beware large $ transactions.
Accurate – after service is rendered.
Send regularly; don’t hold until Tuesday noon
BENEFIT: Timely and accurate payments with no follow-up questions from the Business Office to request additional information.

11. Best Practices BENEFIT: Touch the transaction once. New Vendor Set-up
SKIP THIS IF YOU ARE USING A PURCHASING CARD
W-9
ACH Payment Authorization
BENEFIT: Touch the transaction once.

12. Other Best Practices – FAQ’s
Avoid Gift Cards – alternate with inexpensive tangible item
Avoid ITS Equipment/PEPS Equipment/Software – redirect to ITS/PEPS
Minimize prizes – IRS tax reporting obligations apply
Payment requests should be submitted after services have been rendered
Be aware of Independent Contractor checklist – contact HR if you need assistance
Be aware of special requirements for doing business with non-resident aliens – contact Shari Mayer if you need assistance
Be aware that grant management has special requirements – contact Susan Benson if you need assistance
Be aware of special requirements for doing business with entertainers – MN Entertainer Tax may apply

13. Thinking about the Future
Consolidate Student and Bi-weekly Payroll;
Advantages:
Reduce payroll from five times per month to three times per month. Two supervisor approval processes vs. four supervisor approval processes.
Increase consistency, reduce confusion.
Supervisor review extended to Tuesday, noon for pay period ending Saturday.

14. Our Gratitude 450 card holders 1,000 payment requests per month
1,300 students on payroll
We could not do this without you!

15. Questions/Comments/Concerns
Open Door
Visit the Business Office – Leighton Hall
Call or
Linda Thornton
X4171
Visit the Business Office Web Site
Keep the Faculty and Staff Guide to the Business Office in a handy location; share it with your department
Attend HR Professional Development Events