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FY06 - June 2006 - ISSUE 7
In order to allow Harvard's Accounts Receivable (AR) to more closely align with industry best
practices, there will be a change to the AR Bad Debt Write Off policy. Effective July 1, 2006, invoices
will remain open for nine months (270 days) before being written off to bad debt, as opposed to the
current write off time period of six months (180 days). For this purpose, the beginning date is the
invoice transaction date, i.e., the date on the invoice document.
UIS Accounting will make every effort to ensure that affiliate invoices are collected in a
timely manner. requests for invoices to remain open an additional thirty days can be submitted if there
is reasonable assurance that the invoice will be collected in the immediate future, by submitting a
Write Off Extension Request Form (available on ABLE) and emailing it to
AR_Collections@harvard.edu.
The year-end financial closing schedule was recently published by the Office of Human
Resources (OHR) in the May Administrative Systems e-News on May 10th, and contains strict guidelines,
which must be adhered to. It is especially important that we process all financial transactions
(e.g. capital, accounts payable, expense reimbursements, customer invoices, etc.) affecting fiscal
year 2006 in a timely manner.
A separate memo detailing specific dates about the year-end closing was sent out recently
by UIS/OAS Finance. If your responsibilities include cash, capital, Accounts Payable, PCard, and/or
billing, please refer to this memo as it contains important closing deadlines. If you have any
questions, please contact your financial partner.
Beginning in FY07, all staff that have the authority to either purchase products or services,
authorize a document, or approve payment of a vendor invoice, will be required to sign a Purchasing
Authorization Form acknowledging that they have read the associated purchasing policies and have a complete
understanding of their responsibilities as an authorized purchaser for their organization.
Employees who currently have purchasing responsibilities will be contacted directly by UIS/OAS
Financial Services and will receive a copy of all relevant policies, as well as the Purchasing
Authorization Form.
If you have any questions, please respond via email to this communication or contact
your Financial Partner.
Business Meals vs Travel Meals
The Universal Expense Form (UEF) is the primary form used to process “Corporate Card” and “Out Of Pocket”
business expenses. It is important to fill out your UEF completely before submitting it, in order to
expedite the processing time. Below is a list of steps to ensure efficiency and accuracy in the processing
of your expense report:
- Check the box for Payment Type (out of pocket or GE Corp Card)
- Fill in your name, date, ID #, and Reimbursement method
- Provide a detailed description of the business purpose(s), as well as the date of the expense(s)
- Categorize all expenses in the “Summary of Expenses” section
- Ensure that the Expense Report total equals the sum of the attached receipts
- Sign and Date the 1st page as the Reimbursee
- Provide the correct 33-digit billing code(s)
- Obtain your manager’s signature prior to sending it for processing
- Send Original receipts (original hotel folio, Expedia payment receipt, meal receipts, etc.) -
Receipts must show that payment was made
- Send a “Missing Receipt Form” with the UEF for each missing receipt
We hope that this issue of the UIS/OAS Financial News has been helpful and
informative. If you have any questions, or would like to see a specific topic covered in a
future publication, please email us at uisfin_news@harvard.edu
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