News Archives | Page 4 of 5 | Financial Services

Mileage Reimbursement Rate

Effective January 1, 2014, the Internal Revenue Service (IRS) changed the standard mileage rates for operating an automobile for business purposes. In recognition of lower fuel cost, the IRS lowered the rate from .565 cents to .56 cents per mile. The University is adopting this new rate effective January 1, 2014 for all employee business related travel that occurs from this date forward. For any travel prior to January 1, 2014, the old rate of .565 cents per mile will be reimbursed to the employee.

An updated travel form will be published on the Financial Services website in the Forms section. Please use the appropriate form that corresponds with your travel dates. If you should have any questions, please contact Alice Hernandez, Accounts Payable Representative at campus extension 5833 or by email at

Recording PTO for Exempt Staff

For exempt staff (not faculty), departments have been transitioning to NOVAtime electronic leave management system to request and record Paid Time Off (PTO) and Sick Leave Reserve. More than 90% of exempt staff have been trained and are now using NOVAtime. Beginning this month and in support of the PTO policy all leave requests should be entered and approved in NOVAtime using the request function. Training is offered through the Professional Development Center with additional educational resources available on the “Training Information” section of the NOVAtime home page. Please note that the “timesheet” method of requesting leave is no longer available in favor for the simpler and more efficient “request” method.

When PTO requests are entered in NOVAtime, most devices offer the convenience for supervisors to approve requests through e-mail.

For educational resources, including Quick Guides go to the NOVAtime home page. Additionally, classes have been conducted throughout 2013 to support the requirement that all PTO must be recorded in NOVAtime.

You may e-mail questions to

Electronic W-2’s: Safer. Faster. Greener.

Wake Forest University is required by IRS Regulations to send employees a paper W-2 unless they consent to receive their W-2 in an electronic-only format.

Employees are encouraged to go paperless by providing consent to receive their 2013 IRS W-2 form electronically through WF@Work. Unless consent is provided, a paper
W-2 form will be mailed in January. Receiving an electronic W-2 form is:

• Safer. Reduces the risk of identity theft associated with mailed W-2’s, which includes the employee’s name, address and social security number.

• Faster. Electronic W-2’s will be available before mailed forms. Employees will be notified by email when their W-2 is available.

• Greener. If electronic consent is provided by 5:00 pm on January 28, 2014 a paper 2013 W-2 will not be mailed.

To provide consent to receive an electronic-only W-2 (and to stop receiving a paper W-2 in the mail) please complete the electronic W-2 consent under the Tax Forms section of WF@Work. Once you give your consent you will be able to view past years W-2’s as well.

University Stores Purchases & Discounts

To support the transition of University Stores now being managed by Follett, we wanted to provide you with information regarding purchases made at any Stores location.

Discounts apply on all payment methods. Department Charges/Purchases are eligible for a 25% discount on items excluding  text, computers/technology and convenience items. WFU Faculty/Staff will enjoy a 20% discount on items excluding text, computers/technology and convenience items.

There are two department purchase methods – the preferred method is the University PCard.

Department Charges are also acceptable. When making a department charge, purchasers will need to provide their name to the cashier along with the department name and budget code to be charged. Departments will continue to receive reports detailing all purchases made for review and reconciliation purposes. However, department charges will now be reported differently on Cognos reports. These charges will be reported in the month following the charge (e.g., July charges will be reflected in your August Cognos reports) in the Supplies account code 53010 with an activity code of U01368-Follett Departmental Store Charges. These were previously reported in account Allocation University Stores – 70025. Budget and Financial Planning has recognized this account code change and has moved FY14 budget amounts from 70025 to 53010.

Department charge and PCard receipts at time of purchase will show sales tax charged. However, like other supplier purchases, the tax will not show on the Cognos report as an expense against the department budget.

If you have any questions, please email Dixie Ross at

Thank you for your continued support during this transition and please forward this information to those in your area who make purchases at any Stores location.

New Electronic Direct Deposit Form

In our continuous commitment to serving our customers, Financial and Accounting Services is pleased to announce our new Direct Deposit Authorization and Maintenance Form. This new, electronic form will allow all employees to easily make changes to direct deposit information as needed.

The form can be found in WIN under the WF@Work link. Simply log in to WIN and select the WF@Work link. The form can be found under the ‘Payment Information’ heading.

If you have questions regarding the use of this form, please contact the Payroll office, either by email at or by phone at 336-758-2960.

New Journal Entry Form Template Available

We have recently improved our journal entry form template and started providing journal entry training to the campus community. Please click on the Forms section of our website, choose the Faculty Staff tab and Financial Reporting. From there you should be able to download the new template. We have already gotten great reviews on both the training and the form so please download and start using it today.

Get the Latest Finance News in Your Email

Want to be “in-the-know” with Finance happenings? Sign up for our new RSS feed! This tool will send any item that is posted in our news box directly to your email. You’ll receive the latest information on updates to policies and procedures, as well as alerts when we add new forms or update existing ones. This way, you’ll never use an outdated form again! You’ll only receive email when we post to the news box. To sign up, follow these simple steps:

1. Enter your email in the box found in the left side menu and click “Subscribe”
2. Enter the code on the pop-up screen so the system knows you’re a real person
3. Respond to the verification email you receive to activate your subscription
4. Add the following to your safe senders list: and


Fiscal Year End Close at CFAR Meeting May 16

The Campus Finance and Administration Representatives (CFAR) Group will meet this Thursday, May 16th in the ZSR Library Auditorium.  Anyone is welcome to attend to learn about Fiscal Year End Close Procedures and Deadlines.  Did you know that all past CFAR presentations are available for your reference on the newly redesigned Financial Services website?  Just visit the Tools tab on CFAR page to access them.

Increased Maximum Cash Reimbursement Amount

To improve customer service, the University is increasing the maximum cash reimbursement amount from $25 to $50.  Effective May 6, 2013, any travel or business related expenses that total $50 or less may be reimbursed at the Cashier’s window in Reynolda Hall (Student Financial Services).  Faculty and staff may continue to use direct deposit for reimbursement requests totaling $25 or more.

Should you have questions regarding this, please contact Alice Hernandez, Accounts Payable Representative, at x5833 or via email at:

Procurement Year End Deadlines

As the end of the fiscal year rapidly approaches, Procurement Services would like to provide some critical purchasing reminders and deadlines:


  • All goods and services need to be received or fully performed by Friday, June 28th to be expensed/processed in FY13.
  • Expenses for which the period of use or coverage extends beyond June 30, 2013, will be prorated into the appropriate fiscal years.


  • Friday, May 3rd —Deadline to issue Requests for Proposals (RFP’s) or Bids. Deadline for furniture purchase requests and vehicle purchase requests. Any requests for bids, furniture or vehicles after this date will not be guaranteed to meet the June 30th deadline.
  • Friday, June 7th—Deadline for requests to set up a new supplier. Please contact Procurement Services to verify we do not have an existing supplier under contract or discount structure which can meet your needs before requesting a new supplier.
  • Monday, June 24th—Deadline for submission of approved purchase requisitions through Deacon Depot. All goods and services must be received by Friday, June 28th.

For questions regarding these Procurement deadlines, please contact Procurement Services at or uBUY (ext. 8289).

Finance & Accounting Services will issue a full communication of all end of fiscal year deadlines and guidelines by mid-May, and more information on year-end will be presented at the May Campus Finance and Administrative Representative (CFAR) meeting. As information is updated, it will be added to this financial services site.