June 27th, 2014 | News
In response to feedback from the Campus Financial Reporting Initiative (CFRI) team, Finance Systems released enhancements to the Cognos financial end user reports on Thursday, June 26, 2014. This is a first round of enhancements, with more enhancements to come later this summer for the Detail – Transaction report.
To support these enhancements, the instruction manual and quick reference guide have been updated & can be found on the Cognos page in the Toolbox, or in the Financial Reporting theme on the ‘How To’ tab.
June 13th, 2014 | News
Recently, calls have been received by campus employees from telemarketers misrepresenting themselves as Xerox sales representatives. These are called Toner Phoners and they are trying to sell Xerox supplies fraudulently.
Because all supplies through the Xerox MFD program are contracted, no one should try to sell you additional supplies for your Xerox machine. These Toner Phoners often try to tell the person that they reach on the phone that prices are increasing or they forgot to give a 30-day notice of a price increase.
Xerox will never call and ask for serial number information. They have everything on file so consider it a huge red flag if someone calls and asks for information about your device. Again, all toner supplies are included in the WFU contract, so never engage with anyone trying to sell anything regarding your Xerox device.
For more information on Toner Phoners, please review the following documents:
Toner Phoner Facts
April 2nd, 2014 | News
This new policy and procedure documents current practices and provides guidance for the proper accounting of gifts, prizes, and awards by University funding sources. The accompanying procedure outlines the tax implications as well as the process for documenting such gifts. It includes substantiation requirements, the recipient’s potential taxability, expenditure thresholds, and examples.
The complete Policy and Procedure documents can be found in the Policies and Procedures section of the Financial Services site by clicking the Faculty & Staff tab and navigating to the Payroll Services section. If you have questions regarding this new policy, please contact one of the following:
Director of Accounts Payable: 336.758.5183
Director of Payroll: 336.758.4861
Director of Tax: 336.758.3760
January 14th, 2014 | News
We are pleased to announce that the University has selected BB&T as its new banking partner for operational bank accounts. As the 12th largest bank in the U.S. and a trusted community partner, we look forward to working with BB&T to deliver high-quality banking services to the campus community. The transition from our current banking partner, Wells Fargo, to BB&T is scheduled for March 11, 2014. Until that time, there will be no interruption or change in the services provided by Wells Fargo. Wells Fargo will continue to serve the campus community by providing other services, including their branch location in the Benson Center and an ATM located next to Subway. BB&T’s branch, located at 2815 Reynolda Road, will serve the Wake Forest community along with an ATM located in the Benson Center.
This banking change will be seamless to the campus community, except for those individuals who have collection and deposit responsibilities. To assist you further in understanding the impact of this change, please refer to the frequently asked questions (FAQs). Deposit procedures will be provided in the coming weeks and a training session on those procedures will be presented at the Business Administrators Forum meeting on January 27, 2014 from 2:00-3:30 p.m. in Benson 401D. You do not have to be a member of this group to attend. Also, as provided in the transition FAQs, any individual with deposit responsibilities is required to attend the Workplace Safety While Transporting Deposits training, offered by University Police through the Professional Development Center on January 29, 2014 from 2:00-3:00 p.m., or February 3, 2014 from 11:00-12:00 p.m.
Thank you in advance for your assistance with this transition. Should you have further questions, please feel free to contact Carol Burns, Associate Controller, at email@example.com, or Jennifer Killingsworth, Assistant Director of General Accounting, at firstname.lastname@example.org.
January 14th, 2014 | News
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 email@example.com.
January 14th, 2014 | News
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 NOVAtime@nullwfu.edu.
January 14th, 2014 | News
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.
August 16th, 2013 | News
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 firstname.lastname@example.org.
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.
August 8th, 2013 | News
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 email@example.com or by phone at 336-758-2960.
May 24th, 2013 | News
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.