Accounts Payable

Accounts Payable

Bole Hall
201 Mullica Hill Road
Glassboro, NJ 08028
Phone / 856.256.4115
Fax / 856.256.4443
Email / invoices@rowan.edu

Office Hours:
8:00am - 5:00pm
Monday - Friday

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News and Updates

Dated Posted
Title
5-15-2017
Fiscal Year End Processes and Procedures Training
5-5-2017
Finance Fiscal Year End Process 2017
1-3-2017
Accounts Payable Mileage Rate 2017
11-30-2016
A Day in the Life of a Purchase Request
7-25-2016
"R U Informed" Finance Conference
6-8-2016
Travel Account Code(s) Clarification
4-28-2016
Finance Fiscal Year End Process 2016
1-8-2016
Accounts Payable Mileage Rate 2016
1-4-2016
Accounts Payable Department - Policy Updates and Reminders
12-21-2015
Incomplete Purchasing/Receiving Documents in Banner
12-21-2015
Finance Fiscal Year 15 End Process

Fiscal Year End Processes and Procedures Training

Does fiscal year-end confuse you? Do you want to understand why there are unusual balances, unpaid invoices, open POs, NSFs, change orders, and other transactions pending in your budget? Then this training is for you. By popular demand, the Finance Division along with IRT will be providing training on fiscal year end processes and procedures. This time computers labs have been reserved for all end-users to be able to bring their open encumbrances, invoices, DCAs, pending requisition, contract questions and all fiscal year end questions.

These classes will discuss the fiscal year-end processes, budget responsibilities and reporting tools, unusual balances, accrual entry accounting, some specifics on error correction and research, and processing area requirements including the closing calendar. It will also provide an overview of the year-end processes (Banner closeout, encumbrance roll and final operating account close).

The classes will be held on May 24th and 25th In Robinson Hall. Space is limited, so please register for each session you wish to attend at http://rowan.gosignmeup.com.

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Finance Fiscal Year End Process 2017

Fiscal 2017 Year End Closing Dates
Department Heads should review their unit's salary and non-salary accounts to ensure that all operating budgets are not in an actual or projected deficit. ACTUAL AND/OR PROJECTED DEFICITS MUST BE COVERED THROUGH BUDGET TRANSFERS NO LATER THAN 7/14/17.
June 16, 2017 Last day to process requisitions for FY17 goods and services. Please place your purchase order with appropriate documentation and required approvals to allow conversion to PO. Goods and/or services received by the close of the fiscal period June 30, 2017 will be charged to FY17 budget.
June 23, 2017 Office Depot orders should be placed by 6/23/17.
June 27, 2017 All Pcard transactions posted by the credit card company by June 30th will be charged against FY17. ** Cards used will be suspended from this date until 7/1/17.
June 30, 2017 Any open purchase orders at the close of FY17 (6/30/17) will be charged against FY18 budget.
June 30, 2017 Goods to be charged against FY17 budget must be physically and electronically received by the close of business day.
July 03, 2017 The Banner Finance System will be available for FY18 processing.
July 14, 2017 Submit invoices to record FY17 revenue to Accounting Services.
July 14, 2017 Last day to submit requests for Labor Redistribution corrections and adjustments (reallocation of salary and fringe).
July 14, 2017 Last day to post MDV's with a transaction date of June 30, 2017 for FY17 goods and services received on or before June 30, 2017.
July 14, 2017 Cutoff date for processing Accounts Payable documents to be recorded in fiscal year 2017. Such documents include MDVs, travel expense vouchers, and mileage.
July 14, 2017 Last day to submit budget transfers, journal entry requests, and DCAs.
Important Notes
1. Entering a requisition or purchase order does not guarantee that the expense will be processed and paid within the current fiscal year 2017.
2. Cutoff dates (excluding DCAs) do not apply to grant or capital funded accounts.
3. All invoices should be forwarded to the Accounts Payable department or sent to invoices@rowan.edu
4. FY17 Operational Budget surplus will not carry forward into FY18.
5. POs open at the completion of fiscal 2017 will carry forward to fiscal 2018 and charged to the fiscal 2018 budget.
6. Additional information regarding Fiscal Year End Close Out can be found here.

If there are any additional questions or concerns regarding the year-end closing process, please contact:

Accounting Issues: Rita Piccioni ext. 5492
Accounts Payable Issues: Ana Cardona-Parra ext. 4335
Budget Issues: Natalie Beury x 4123
Purchasing Issues: Chris Haley x 4149

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Accounts Payable Mileage Rate 2017

Effective January 1, 2017: the standard mileage rate has decreased to $0.535 cents per mile for individuals traveling in privately owned vehicles on official business for the state. The Mileage Log, Travel Request and Travel Expense forms have been adjusted to reflect this change. Please use the appropriate form when completing your reimbursement request.

Per University Travel Policy: when utilizing privately owned vehicles for official University business, the mileage reimbursement will be made at the prevailing IRS business rate. If a personal automobile is used for business purposes, individuals will be reimbursed for miles incurred in excess of daily commute at the current IRS authorized mileage rate. The personal mileage reimbursement covers all costs related to the operation of the vehicle, including service, maintenance, insurance, depreciation, and gas.

For more information regarding mileage rates visit IRS website: https://www.irs.gov/uac/2017-standard-mileage-rates-for-business-and-medical-and-moving-announced

Forms are available on the Accounts Payable website: http://www.rowan.edu/open/adminfinance/accountspayable/
downloadabledocuments.html

For further information regarding transportation expenses visit IRS Publication 463 Chapter 4: https://www.irs.gov/pub/irs-pdf/p463.pdf

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A Day in the Life of a Purchase Request

Attend a full day of answers on who, what, when, where, why and how in the life of a purchase request. This Finance training program is essential for end users throughout the University community whoneed to purchase goods for their departments. Understand the whole purchasing process by going behind the scenes in how requisitions are converted to PO’s, how invoices tie into cutting checks and more. It is highly recommended that you attend this event to learn all about the enhancements, tips, tricks and updates with Rowan finance processes and procedures.

Topics include:
  • Budget - View your budget and learn how to navigate on the screens.
  • New Vendors - What’s a W- 9, BRC, Chapter 51?
  • Contracts – Do you have one? Do you need one?
  • Requisition - How to process, what to enter and look for, understand special purchases.
  • Req to PO – See behind the scenes on how a requisition is converted to PO.
  • Recap - What to do once a PO# is assigned.
  • Receiving - When to complete receiving in banner.
  • Invoice - Where to send the invoice and what information is needed to process.
  • Payment – Go over Banner screens, Payment terms, discounts, processing time, frequency of check runs and forms of payment

This one day seminar will be held on December 1, 2016, in the Chamberlain Student Center from 9:00 a.m. to 4:00 p.m. (registration and continental breakfast from 8:00 a.m. to 9:00 a.m.). Lunch is also included. There is no cost to attend, but space is very limited, so register early at http://rowan.gosignmeup.com(Look for “A Day in the Life of a Purchase Request”).

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"R U Informed" Finance Conference

Money, Money, Money, Money – learn from beginning to end how to budget and account for it at Rowan’s first annual “R U Informed” Finance Conference!

This three day conference from August 09, 2016 – August 11, 2016 will help you navigate and learn about the latest tools and approaches within the Finance Division.

The Finance Division consists of the following departments: Accounting Services, Accounts Payable, Budget, Bursar, Procurement and Payroll. Each department has created special training tailored to meet the growing demands of the University. They will lead discussions and demos, and consult campus-wide users on all updates with helpful handouts and giveaways.

Each day will begin with a continental breakfast followed by five (5) one-hour training sessions with a catered lunch in between. Topics will include Banner Receiving, Purchasing Card, Travel Request, Cash Transmittal, MDVs and E-Invoices. There will also be demos regarding Office Max and Gourmet Dining, as well as a sneak peek at Banner XE in Banner Tips and Tricks.

For a growing list of classes, times and locations see: https://confluence.rowan.edu/x/VDSpAw

So that we can plan accordingly, please register at: http://rowan.gosignmeup.com

Guests are welcome to attend individual training sessions or all three (3) conference dates.

“R U Informed” Finance Conference dates:
August 09, 2016
August 10, 2016
August 11, 2016

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Travel Account Code(s) Clarification:

Please remember, more than one account code(s) may be used when completing travel forms, especially if claiming mileage. Since there is often confusion between the appropriate account code(s) to use when submitting travel forms, remember to properly separate travel expenses from mileage in order to prevent misunderstandings. To avoid further confusion, below are explanations and examples of when to use the appropriate account codes:

-  Account 7215 (Mileage Reimbursement) this account code should always be used when claiming mileage on all travel forms. Example: if traveling to a conference by air and mileage is incurred from home to airport, this account code must be included on the travel form (and ensure sufficient funds are available).

-  Account 7216 (Travel) this account code shouldbe used when reimbursing employees for all other travel expenses except mileage, for example: hotel, conference, registration, airfare, baggage fee, parking and toll fees, etc.

-  Account 7217 (Student Travel) should be used for reimbursing students for all other travel expenses except mileage, including parking and toll fees.

To reiterate, separating the expenses by account code(s) and verifying funds are available will ensure prompt reimbursement by Accounts Payable Department.

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Finance Fiscal Year End Process 2016

The University is approaching the end of another fiscal year (Fiscal Year 2016 timeframe runs from July 1, 2015 through June 30, 2016) and it is time to coordinate year-end closing activities for all the campuses.

Accounting principles require that goods and services be charged to the period in which they’re received, meaning when the goods actually arrive or the services are actually performed and not when receiving is completed in Banner. Therefore, items received or services completed on or before 6/30/16must be charged to FY16; items received or services performed on or after 7/1/16 must be charged to FY17 regardless of whether there has been a FY16 purchase order already established. The following dates are being implemented in order to meet these standards.

Important Dates:

  • 5/31 - cutoff date for entering requisitions to be charged to FY16 Budget
  • 6/20 - cutoff date for Office Max orders
  • 6/27 - cutoff date for using a University Purchasing Card (UPC). Card use will be suspended from this date until July 1, 2016
  • 7/18 – cutoff date to process all Accounts Payable documents to be charged to FY16 such as MDVs (remember that MDVs must not exceed $500), Travel Expense Vouchers, Mileage reimbursement & Tuition reimbursement – these documents must be received in Accounts Payable by this cutoff date
  • 7/18 – cutoff date for submitting a DCA to Accounting Services that will affect the FY16 budget

The cutoff dates (excluding DCAs) do not apply to Grants (Funds beginning with a “5” or “6”) or to Capital funded accounts (Funds beginning with a “7”).

Should an emergency necessitate a requisition after the dates noted above, a Purchase Order will only be issued with the approval of your Divisional Vice President. Requisitions submitted after the above noted cutoff dates will not be converted without the noted approval.

Important Information

1.
Ensure your budget has sufficient funds in the specific account line to cover all payments before sending your invoice to  Accounts Payable.
2. To be charged to the FY16 budget, the goods must be received or services performed, and invoiced on or before 6/30/16.
3. Goods & services received/performed on or after 7/1/16 will be charged to the FY17 budget.
4. Purchase Orders still open (not closed by the department) upon the completion of FY16 will be carried forward to FY17 & charged against the FY17 budget.
5. Make sure all your receiving has been completed in Banner, as applicable.
6. All invoices should be forwarded to the Accounts Payable Department or sent to invoices@rowan.edu.
7. Purchases made on a UPC or personal credit card that would be an improper purchase through the requisition system are not permissible.

Follow this link for a more detailed explanation on how to prepare for the fiscal year end and for further clarification on the above information.

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Accounts Payable Mileage Rate 2016

Effective January 1, 2016: the standard mileage rate has decreased to $0.54 cents per mile for individuals traveling in privately owned vehicles on official business for the state. The Mileage Log, Travel Request and Travel Expense forms have been adjusted to reflect this change. Please use the appropriate form when completing your reimbursement request.

Per University Travel Policy: when utilizing privately owned vehicles for official University business, the mileage reimbursement will be made at the prevailing IRS business rate. If a personal automobile is used for business purposes, individuals will be reimbursed for miles incurred in excess of daily commute at the current IRS authorized mileage rate. The personal mileage reimbursement covers all costs related to the operation of the vehicle, including service, maintenance, insurance, depreciation, and gas.

For more information regarding mileage rates visit IRS website: https://www.irs.gov/uac/Newsroom/2016-Standard-Mileage-Rates-for-Business-Medical-and-Moving-Announced

Forms are available on the Accounts Payable website: http://www.rowan.edu/adminfinance/accountspayable/downloadabledocuments.html

For further information regarding transportation expenses visit IRS Publication 463 Chapter 4: https://www.irs.gov/pub/irs-pdf/p463.pdf

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Accounts Payable Department - Policy Updates and Reminders

As noted in the Rowan Mailer dated 11/6/15, Rowan’s policies are now available on one website. Listed below are some important updates and general reminders relative to Accounts Payable.

Receptions and Entertainment
Entertainment is defined as activities, events or functions provided or held for the benefit of students of State institutions, dignitaries, and / or other "non-state" employees which are paid from public funds.

Reimbursement or payment from state-appropriated funds for the following expenditures is prohibited:
- Expenses for alcoholic beverages.
- Meals and other expenses for functions held primarily for the benefit of University officials and/or employees
- Receptions or other social functions held for or honoring any employee or group of employees of the State (retirement, awards, appointments, etc.).
- Meals or refreshments to be served to participants (other than students, officials, press-box personnel) or guests at any athletic or other games or contests.
- Expenses for regularly scheduled professional organizational / departmental meetings.

Reimbursements to employees will be made via direct deposit.

Any on-campus catered event must utilize the services of the University's dining services vendor, Gourmet Dining, LLC. The vendor has established an E-Cater Link to the E-Cater ordering solution system for catering. Ordering guidelines and other general information regarding E-Cater can be found on the Accounts Payable website.

Relocation Expenses
In order to be eligible for relocation expenses to be paid or reimbursed, the new employee must receive a Letter of Appointment from the University stating the following:
- New employees will satisfactorily maintain employment on a full-time basis, as defined by the University, for at least one year, commencing on the date that the employee starts work on a regular basis at the University
- New employees who fail to remain employed by the University for a full twelve (12) months will result in repaying the full amount (including taxes) to the University; as provided by law, sums may be withheld from salary or other compensations due to the employee.
- New employees must meet all rules in accordance with IRS guidelines in “Publication 521 – Moving Expenses.”

Travel Policy
- Employees traveling on official University business are expected to exercise care when planning travel and incurring expenses.
- Meals will no longer be paid at a standard rate issued by the University. Going forward, the University will follow the rates established by the General Service Administration (GSA).
- Per Diem rates will now be reimbursed based on traveler’s destination by city, please use the link provided to determine the appropriate rate.
- Original receipts must be submitted for all travel reimbursements over $25, to be reimbursed the receipt must show it was paid in full via cash, check or credit card.
- The Missing Receipt Affidavit form and credit card statement will no longer be accepted as proof of payment for travel reimbursements.
- A fully executed Travel Expense Report will be reimbursed to traveler within ten (10) business days of submission to the Accounts Payable department via direct deposit reimbursement.
- Travel Request and Expense Report forms have been updated to accommodate GSA per diem rates

Please begin using the updated forms immediately to ensure accurate accountability of encumbrances and reimbursement. Here is a link to Accounts Payable forms.

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Incomplete Purchasing/Receiving Documents in Banner
Posted: 12-21-2015

Beginning January 2016 a report process in Banner will be activated that will generate a notification to end users who have incomplete requisitions and/or receiving codes in Banner. Currently our staffs (Purchasing and Accounts Payable) have adjusted and updated these items in Banner either by deleting older incomplete documents or notifying each end user directly to complete, correct or delete.

In an effort to increase efficiency going forward, the above noted report will send a notice to the applicable end user on a daily basis. The emails will include instructions on how to delete the incomplete document or complete through INB, as applicable.

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Finance Fiscal Year End Process
Posted: 12-21-2015

The University is approaching the end of another fiscal year (Fiscal Year 2015 timeframe is July 1, 2014 through June 30, 2015) and it is time to coordinate year-end closing activities for all the campuses.

Accounting principles require that goods & services must be charged to the period in which they’re received – meaning when the goods actually arrive and not when receipt is posted. Therefore, items received on or before 6/30/15 must be charged to FY15; items received 7/1/15 or after must be charged to FY16 regardless of whether has been a FY15 purchase order already established. The following dates are being implemented in order to meet these standards.

Important Dates:

  • 5/29 - cutoff date for entering requisitions to be charged to FY15 Budget
  • 6/12 - cutoff date for using a University Purchasing Card (UPC). Card use will be suspended until July 1, 2015
  • 6/26 - cutoff date for Office Max orders
  • 7/10 - all requests for MDV’s, Travel Expense Vouchers, Mileage reimbursement & Tuition reimbursement requests to be charged to FY15 must be received in the Accounts Payable Department by this date
The cutoff dates do not apply to Grants (Funds beginning with a “5” or “6”) or to Capital funded accounts (Funds beginning with a “7”).

Should an emergency necessitate a requisition after the dates noted above, a Purchase Order will only be issued with the approval of your Divisional Vice President. Requisitions submitted after the above noted cutoff dates will not be converted without the noted approval.

Important Information:
  • 1. Ensure your budget has sufficient funds on the specific account line to cover all payments before sending your invoice to Accounts Payable.
  • 2. To be charged to the FY15 budget, the goods must be received or services performed, and invoiced on or before 6/30/15.
  • 3. Goods & services received/performed on or after 7/1/15 will be charged to the FY16 budget.
  • 4. Purchase Orders still open (not closed by the department) upon the completion of FY15 will be carried forward to FY16 & charged against the FY16 budget.
  • 5. Make sure all your receiving has been completed in Banner, as applicable.
  • 6. All invoices should be forwarded to the Accounts Payable Department or sent to invoices@rowan.edu.
  • 7. Purchases made on a UPC or personal credit card that would be an improper purchase through the requisition system are not permissible.

Follow this link for a more detailed explanation on how to prepare for the fiscal year end and for further clarification on the above information.

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