FY 2015 orders & payment approvals

The estimated date for ordering to begin on a new fiscal year is mid-September.  It is hoped that we can start ordering and have funds allocated around September 15^th. 

Once the new fiscal year is set-up, you will need to pay close attention to paying/invoicing ordered items on the old FY 2014 as well as putting in new orders on FY 2015 monies (meaning you will be switching back and forth between fiscal years in SIRSI for a while.  more info on this later…)

Ordering: Firm orders will begin with the first purchase order being “FO-15001” and proceed from there.

Payment Approval ranges:

* $3,396.32 of FY2014 money for the PDA has been encumbered on PL434997 which will be used all year unless there is additional money.

FY 2014 orders & payment approvals

The estimated date for ordering to begin on a new fiscal year is mid-September.  It is hoped that we can start ordering and have funds allocated around September 15^th. 

Once the new fiscal year is set-up, you will need to pay close attention to paying/invoicing ordered items on the old FY 2013 as well as putting in new orders on FY 2014 monies (meaning you will be switching back and forth between fiscal years in SIRSI for a while.  more info on this later…)

Ordering: Firm orders will begin with the first purchase order being “FO-14001” and proceed from there.

Payment Approval ranges:

* all FY2013 money for the PDA has been encumbered on PL433650 which will be used all year unless there is additional money.

Paying Credits in a Different Fiscal Cycle
(Linking to Funds—Not Orders)

1. Go to modify invoice, change fiscal year under the invoice tab
2. Go to Invlines tab
   • Click each line: change LINK: to fund
   • Display order: find title and determine fund used under the segments tab
   • Go back to invlines and add in the fund
3. Modify Invoice and repeat for each line

Late Fees Charged in Banner—Procedures for Updating SIRSI to Match Banner

The Prompt Payment Act, a Texas state law, states that interest will be charged to state agencies such as SHSU by the State of Texas and sent to the vendor if a payment is made later than the date the material or invoice was received, whichever is later, plus 30 days.  Acquisitions will not be aware of these late fees until after they occur and are discovered by looking at our accounts on Banner.  We do not receive any notification about them from the university.

So that SIRSI will match Banner concerning these fees, the following procedures are proposed:

Late fees are linked to pool 720 regardless of whether the original invoice/order was paid as 738900 or 727600 or any other account code.

Because the late fee in Banner will not necessarily correspond to the original order’s fund code in SIRSI, the fund used in SIRSI for late fees will be coded at a very generic level.  For firm orders the fund ID is  F-LIB-FEE
Fund level 1: Firm order
Fund level 2: FEE
Fund level 6: 780600 (corresponds to Banner account code)
Fund levels 3, 4, and 5 will be blank

The fee will be entered in SIRSI as an invoice linked to the fee fund.  Linking it to the order will throw off the balancing between Sirsi and Banner.  By linking the fee to the fund as an invoice, when you display the fund you will be able to display the invoices and see what the fees were for and what FOAPs they were on, etc.

Since more than one invoice may be attached to the payment approval, use the Banner journal voucher number as the invoice number; e.g., J0037306

Vendor ID: use original vendor paid on the payment approval

Use the Activity Date of the journal voucher as the invoice date in Sirsi

Fiscal cycle: Fiscal cycle in which the fee was assessed

The invoice amount will be the fee amount

In the invoiceline notes include:

• PLnumber and original FOAP:  (example) PL434396 120400/470002/738900/40
• FOAP the fee was paid on:  FEE FOAP 120400/470002/780600/40
• Banner invoice number to which the fee is linked
• The check number in Sirsi

Use journal voucher number as the invoice number. 

Use original vendor. Use Activity Date of the journal voucher as the invoice date and fiscal cycle of the year the fee was assessed.

REFUNDS TO ACQUISITION ACCOUNTS

Introduction:
Occasionally vendors send refund checks for materials that Acquisitions has paid for but for which the material is no longer available or the subscription has been canceled, etc.
If the vendor is one that is paid frequently during the year, it is preferable to request a credit memo rather than a check for the refund. Credit memos can be used at our convenience and can be handled in our regular payment routine.
However, if the vendor is not paid frequently during the year, there may not be an opportunity to use a credit memo against a future payment. In this case, requesting a refund check is preferable.
 

General information and Procedures:
When a refund check is received, first determine what the original payment was for (i.e, the original invoice number, amount, title, purchase order number) and what FOAP and fiscal year it was paid in (a copy of the payment approval form is helpful). You may have to contact the company which sent the check to obtain some of this information.
If you are not able to obtain all of this information the first day the check is received, keep the check in a locked drawer or office until it is ready to be given to Access Services. Try to give the check to Access Services within 1-2 days of when it was received.
Refund checks must be deposited into a university account via the library’s Access Services department.
Marilyn Harper and her backup, Stephen Strubing, are currently responsible for depositing money for the library.
Acquisitions must provide the information about what account the money should be deposited into but advice may need to be sought from the Controller’s Office in some cases.

If the refund check is received in the same fiscal year from which it was paid, it generally can be deposited back into the same FOAP from which it was paid.  If the original invoice was paid in the previous fiscal year, check with the Controller’s Office about what fund it can be deposited into. Money paid out of a HEAF (state) fund from the previous fiscal year may need to be deposited into a local fund in the current fiscal year.
Send an email to Sarah Woods, Associate Controller, and Wilbert Hightower, General Accounting Coordinator, and/or Karen Hlozek (if HEAF funds) with the amount of the refund and the FOAP and fiscal year from which the original item was paid and ask whether the check can be deposited back into the original FOAP or some other FOAP. (Regardless of whether the money is put in to a HEAF (state) or local account, it will probably have to be put into the current fiscal year.)

If the money is to be put into a local account, we will usually want to use the same organization code that was used to pay the original amount (e.g. 470002 for books, 470004 for serials, 470006 for standing orders, or 470008 for databases).
After determining what FOAP the refund check should be deposited into, write a note with this information to give to Marilyn Harper and/or Stephen Strubing. Include the pool as well (i.e. 720 for electronic or 770 for non-electronic). Include the account code that was used for the payment but be aware that the account code used for the deposit may end up being different than the account code that was used for the payment. On the note, instruct Access Services to contact Jeanette Collins, Assistant Bursar, if assistance is needed in determining what account code should be used for the deposit. Ask Access Services to tell you what account code is actually used after the deposit is made.
Make a copy of the check and the note to keep for Acquisition’s files and give the originals to Marilyn/Stephen.
 

Balancing Banner and Sirsi Information:
In Banner, the FOAP should be monitored to see that the refund does appear in the account within a few days of giving the check to Access Services.
A refund into the FOAP will increase the balance available. Check to see if the expenditures in the FOAP were decreased—this will usually show up as a negative amount when looking at the expenditure transactions.
IN SIRSI, DO NOT ADD INVOICES OR ADJUST FUNDS OF PREVIOUS FISCAL YEARS UNLESS FUNDS FROM THAT FISCAL YEAR ARE STILL ACTIVELY BEING USED IN THE CURRENT FISCAL YEAR. REFUNDS DEPOSITED INTO BANNER WILL USUALLY BE PUT INTO THE CURRENT FISCAL YEAR (unless informed otherwise by Controller’s Office)
If the refund in Banner decreased the expenditures of the FOAP, then in Sirsi, treat the refund check as though it is a credit invoice.
If the refund is made in the same fiscal year that the original invoice was paid, it may be possible to add an invoiceline to the original invoice and link the refund amount to the fund that corresponds to the original payment.
If no order or invoice exists for the resource in the current fiscal year, treat the refund check as a credit invoice: use the check number as the invoice number and the check date as the invoice date. If the vendor does not exist in Sirsi, add a new vendor record for it. However, in some cases we may have originally paid a vendor like EBSCO but the check is from an individual publisher. In that case, you can use the vendor record for EBSCO but add a note in the invoiceline to indicate the name of the publisher who issued the check.
In either of the above cases, in the invoiceline include information about what the refund is for, the original payment information, and the FOAP the refund was deposited into and the date of the deposit. Link the payment as a negative amount to a fund. Use REFUND as the Sirsi check number since there will not be a payment approval number.
Scan the check information and notes and save it in the Payment Approval folder using REFUND in place of the payment approval number.
In Banner, if for some reason the refund does not decrease the expenditures but just increases the balance in the fund, then in Sirsi it may be necessary to adjust a fund budget by increasing it by the refund amount rather than adding an invoice. Give an explanation in the fund “extended information” field about why the fund allocation was increased including information such as the FOAP into which the refund was deposited in Banner and the original purchase order number in Sirsi, if any.
Other actions may need to be taken for subscriptions and standing orders, such as creating a Closed Title form on the T drive or in CORAL if the title will no longer be published.

Teri Oparanozie created 2/28/14, rev 5/22/14 (KLM)

BANNER UNIVERSITY ACCOUNTS & CARRYING MONEY FORWARD TO NEW FISCAL YEAR

Encumber it or lose it:

If this money is not used during the current fiscal year, it must be encumbered so that it will carry forward to the new fiscal year, otherwise the university takes it and it is no longer available to the library

State accounts

• HEAF (120400)
• E&G Fund (110100) and local account

Local account: Designated Tuition (140100)

Rolls into library fund balance if not encumbered:

If this money is not used during the fiscal year and is not encumbered, it rolls into the library’s fund balance and can be pulled back out and transferred into the student use fee accounts or copy services accounts in the new fiscal year.

• Jackie Conrad, Library Business Office Manager, often lets money roll into the fund balance at the end of the fiscal year
• Acquisitions encumbers money in Student Use Fee Accounts and Replacements account to be able to track it better

Local accounts—library income:

• Library Student Use Fee accounts (151800)
• Copy Services income accounts--Xerox Machine Library (183100/470001—Replacements)

Rolls forward without being encumbered:

Interest from Endowment Accounts—Joe L & Sallie Clark Texana (310417/470000)

• This money does not need to be encumbered at the end of the fiscal year and Acquisitions does not encumber it
• It rolls forward automatically
• The endowment is actually in a separate account and the interest from the endowment rolls into the account that is used by Acquisitions
• The interest is added to the account periodically throughout the year by the university and is put into the 720 pool.  Acquisitions generally uses this account for print books so the money that is needed for orders has to be transferred to the 770 pool
• At the beginning of the fiscal year, an estimate of the amount that will be needed for orders during the year is transferred to the 770 pool and is adjusted during the year as needed

(Notes from talking with Jackie Conrad 8/26/14—TLO)

FY 2014 orders & payment approvals

The estimated date for ordering to begin on a new fiscal year is mid-September.  It is hoped that we can start ordering and have funds allocated around September 15^th. 

Once the new fiscal year is set-up, you will need to pay close attention to paying/invoicing ordered items on the old FY 2013 as well as putting in new orders on FY 2014 monies (meaning you will be switching back and forth between fiscal years in SIRSI for a while.  more info on this later…)

Ordering: Firm orders will begin with the first purchase order being “FO-14001” and proceed from there.

Payment Approval ranges:

* all FY2013 money for the PDA has been encumbered on PL433650 which will be used all year unless there is additional money.