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Advances

Advances. Travel Advance or a Travel Departmental Advance and Departmental Advances (non-travel) http://oregonstate.edu/fa/business affairs/ bcr#trainap. An Advance creates a credit risk to the university and should only be authorized when all other options have been exhausted.

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Advances

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  1. Advances Travel Advance or a Travel Departmental Advance and Departmental Advances (non-travel) http://oregonstate.edu/fa/business affairs/bcr#trainap

  2. An Advance creates a credit risk to the university and should only be authorized when all other options have been exhausted

  3. Use alternative payment methods when available: • Direct Payment • Vendor Payment Request • Corporate Card • Department Procurement Card • Personal Reimbursement • Advance

  4. There are several types of Advances • Travel Advance or a Travel Departmental Advance • Departmental Advance (non-travel)

  5. Travel Advance

  6. Travel Advances are for Official University Business The Travel Advance is given to travelers on official university business. The travel must benefit the university’s educational, research or public service to qualify as official university business

  7. What you need to know about Travel Advances • Who can get a Travel Advance • What is the qualifying criteria for a Travel Advance • Where to complete a Travel Advance Request • Who reviews the Travel Advance • Who enters the Travel Advance into Banner • When the Travel Advance funds are released • Settlement of the Travel Advance • Reconciliation of the Travel Advance to your Business Center clearing fund

  8. Who can request a Travel Advance • OSU Employee with at least > .5 FTE • GRA, GTA Student that=.49 FTE

  9. The qualifying criteria for a Travel Advance OSU TRA 203: Travel Advances • All previous Travel Advances have been settled in full • Budget authority has signed authorizing the travel • OPAA has signed authorizing the travel when on Grant Funds • Minimum of $250 that cannot be pre-paid for by other means

  10. Qualifying Travel Advance criteria, continued And the travel is: Out-of state or international travel that is longer than five days Or Travel is on an extended trip (longer than 15 days) and the use of the Corporate Card is not a viable alternative to a travel advance Or Traveler is not eligible for the Corporate Travel Card- refer to OSU TRA 202:Corporate Travel Card for qualifications

  11. Where to complete a Travel Advance Request The Travel Advance is a task in OSCAR (https://oscar.oregonstate.edu/) • Travel Advance is found under Travel in the OSCAR navigation pane • Login is required by the traveler • If the OSCAR user is not the traveler, the user must have FIS General Query Access to complete the OSCAR task

  12. The Business Center Reviews the Travel Advance (Example A) • Verify the following: 1. Travel Advance meets the qualifying criteria 2. Is the traveler eligible for the Corporate Travel Card? If yes, applications should be turned in with the Travel Advance request 3. Traveler has submitted the Travel Advance form at least five working days prior to the date the advance is needed 4. Traveler has acquired approval signatures authorizing the travel

  13. The Business Center reviews the Travel Advance, continued Validate estimated dollar amounts requested in the travel advance for appropriateness Compare estimated per diem amounts for meals and lodging with the requested advance amount to determine what percentage should be granted

  14. Travel Advances are entered into Banner by the Business Center • Will the traveler receive the Travel Advance through an ACH? If yes and the traveler requires a check the Business Center will have to override the ACH option in FAAINVE • Be sure to allow enough time for the Travel Advance ACH to be deposited into the Traveler’s account by the date needed • For a check pick-up be sure to put in the invoice field, PU and Business Center extension and change the document indicator from M to 1 to ensure a single check

  15. Travel Advances are entered into Banner by the Business Center, continued In the commodity line use the following standard: Traveler’s last name, first initial and description plus dates of travel and use FOATEXT to add any additional information Enter the accounting against the Business Centers clearing fund and account code A3151 (Travel Advances)

  16. When the Travel Advance funds are released • Check Pick-Up/Direct Deposit • Funds will not be released more than 7 days before the departure date • Business Center staff picks up and signs for check at Business Affairs • The traveler must show photo ID at the time the check is picked up from your Business Center (if not known by the Business Center staff)

  17. When the Travel Advance funds are released, continued The traveler must sign the Travel Advance form acknowledging the receipt of the Travel Advance and agrees to the terms under which it is given at the time the check is picked up or prior to the release of the ACH The reimbursement due date is 45 days after the completion of the trip. The date is written on the Travel Advance form and a copy is given to the traveler

  18. Settlement of the Travel Advance Traveler submits a travel reimbursement with a with a copy of the Travel Advance form to the Business Center • Traveler is receiving a reimbursement when expenses are greater than the amount advanced and a Banner document is created through TRES

  19. Settlement of the Travel Advance, continued • Traveler reimburses the university when expenses are less than the amount advanced. A T# document is created through TRES, to be deleted later, that is submitted with a copy of the Travel Advance form A check is written to OSU for excess funds not expensed and the deposit is sent to the Cashier’s Office in Business Affairs. A JV is done by the Business Center to complete the settlement of the Travel Advance. that posts the travel expenses as a credit to the clearing fund plus the cash payment clearing the balance of the clearing fund.

  20. Reconciliation of the Business Center clearing fund (Example B) • An excel spreadsheet is recommended to track the open Travel Advances • Open Travel Advances should be monitored monthly and balanced to the Business Centers Banner clearing fund • Use FGITBAL to find the balance of your Business Center clearing fund • All advances must be settled in the fiscal year the travel was completed

  21. Travel Departmental Advances

  22. Travel Departmental Advance is given to an employee on behalf of the traveler when traveling on official university business The travel must benefit the university’s educational, research or public service to qualify as official university business

  23. What you need to know about Travel Departmental Advances • Who can get a Travel Departmental Advance • What is the qualifying criteria for a Travel Departmental Advance • Where to complete a Travel Departmental Advance Request • Who reviews the Travel DepartmentalAdvance • Who enters the Travel Departmental Advance into Banner • When the Travel DepartmentalAdvance funds are released • Settlement of the Travel DepartmentalAdvance • Reconciliation of the Travel Departmental Advance to your Business Center clearing fund

  24. Who can request a Travel Departmental Advance • OSU Employee with at least > .5 FTE, usually the supervisor, requesting a Travel Departmental Advance on behalf of: • Official Volunteers, who do not qualify for a Travel Advance • Employees, who do not qualify for a Travel Advance • Students, who do not qualify for a Travel Advance

  25. The qualifying criteria for a Travel Departmental Advance • All previous Travel Departmental Advances have been settled in full • Budget authority has signed authorizing the travel • OPAA has signed authorizing the travel when on Grant Funds • Minimum of $250 that cannot be pre-paid for by other means

  26. The qualifying criteria for a Travel Departmental Advance, continued And the travel is: Out-of state or international travel that is longer than five days Or Travel is on an extended trip (longer than 15 days) and the use of the Corporate Card is not a viable alternative to a travel advance

  27. Where to complete a Travel Departmental Advance Request The Travel Departmental Advance is a task in OSCAR (https://oscar.oregonstate.edu/) • Travel Departmental Advance is found under Travel in the OSCAR navigation pane • Login is required by the OSU employee responsible for the Travel Departmental Advance • If the OSCAR user is not the employee on behalf of the traveler, the user must have FIS General Query Access to complete the OSCAR task

  28. The Business Center Reviews the Travel Departmental Advance (Example C) • Verify the following: 1. OSU employee is typically the traveler’s supervisor requesting the Travel Departmental Advance on behalf of the traveler 2. Travel Departmental Advance meets the qualifying criteria 3. OSU employee, on behalf of the traveler, has submitted the Travel Departmental form at least five working days prior to the date the advance is needed 4. OSU employee, on behalf of the traveler, has acquired approval signatures authorizing the travel

  29. The Business Center Reviews the Travel Departmental Advance, continued Validate estimated dollar amounts requested in the Travel Departmental Advance for appropriateness Compare estimated per diem amounts for meals and lodging with the requested advance amount to determine what percentage should be granted

  30. Travel Departmental Advances are entered into Banner by the Business Center • Will the OSU employee receive the Travel Departmental Advance through an ACH? If yes and the OSU employee requires a check, the Business Center will have to override the ACH option in FAAINVE • Be sure to allow enough time for the Travel Departmental Advance ACH to be deposited into the OSU employee’s account by the date needed

  31. Travel Departmental Advances are entered into Banner by the Business Center, continued For a check pick-up be sure to put in the invoice field, PU and Business Center extension and change the document indicator from M to 1 to ensure a single check In the commodity line use the following standard: Travelers last name, first initial and description plus dates of travel use FOATEXT to add any additional information Enter the accounting against the Business Centers clearing fund and account code A3151 (Travel Advances)

  32. When the Travel Departmental Advance funds are released • Check Pick-Up/Direct Deposit • Funds will not be released more than 7 days before the departure date • Business Center staff picks up and signs for check at Business Affairs • The OSU employee must show photo ID at the time the check is picked up from your Business Center

  33. When the Travel Departmental Advance funds are released, continued The OSU employee must sign the Travel Departmental Advance form acknowledging the receipt of the advance and agrees to the terms under which it is given at the time the check is picked up or prior to the release of the ACH The reimbursement due date is 45 days after the completion of the trip and the date is written on the Travel Advance form and a copy is given to the OSU employee

  34. Settlement of the Travel Departmental Advance Traveler submits a travel reimbursement with a with a copy of the Travel Departmental Advance form to the Business Center • Traveler is receiving a reimbursement when expenses are greater than the amount advanced and a Banner document is created through TRES

  35. Settlement of the Travel Departmental Advance, continued • OSU employee is responsible for the reimbursement to the university when expenses are less than the amount advanced. A T# document is created through TRES, to be deleted later, that is submitted with a copy of the Travel Departmental Advance request A check is written to OSU for excess funds not expensed and the deposit is sent to the Cashier’s Office in Business Affairs. A JV is done by the Business Center to complete the settlement of the Travel Departmental Advance that posts the travel expenses/credit to the clearing fund and the cash payment posts clearing the fund.

  36. Reconciliation of the Business Center clearing fund • An excel spreadsheet is recommended to track the open Travel Departmental Advances • Open Travel Departmental Advances should be monitored monthly and balanced to the Banner clearing fund • Use FGITBAL to find the balance of your Business Center clearing fund • All Travel Departmental Advances must be settled in the fiscal year the travel was completed

  37. Departmental Advance (non-travel)

  38. Departmental Advances are for Official University Business The Departmental Advance is given to an OSU employee for official university business. The approved use must benefit the university’s educational, research or public service to qualify as official university business

  39. What you need to know about Departmental Advances • Who can get a Departmental Advance • What is the qualifying criteria for a Departmental Advance • Where to complete a Departmental Advance Request • Who reviews the Departmental Advance • Who enters the Departmental Advance into Banner • When the Departmental Advance funds are released • Settlement of the Departmental Advance • Reconciliation of the Departmental Advance to your Business Center clearing fund

  40. Who can request a Departmental Advance • OSU Employee with at least > .5 FTE • GRA, GTA Student wit at least > .49 FTE

  41. The qualifying criteria for a Departmental Advance • OSU employee who will provide participant payments regardless of the funding source • Minimum of $250 that cannot be pre-paid for by other means • Budget authority has signed authorizing the use of the funds

  42. Where to complete a Departmental Advance Request The Departmental Advance is a task in OSCAR (https://oscar.oregonstate.edu/) • Departmental Advance is found under Payment Request in the OSCAR navigation pane • Login is required by the OSU employee • If the OSCAR user is not the OSU employee, the user must have FIS General Query Access to complete the OSCAR task

  43. The Business Center Reviews the Departmental Advance (Example D) • Must have a detailed description for the use of the funds 1. Type of project 2. Number of participant payments 3. Institutional Review Board (IRB) number if one has been assigned • Validate estimated dollar amounts requested in the advance for appropriateness

  44. Departmental Advances are entered into Banner by the Business Center • Will the OSU employee receive the Departmental Advance through an ACH? If yes and the OSU employee requires a check the Business Center will have to override the ACH option in FAAINVE • Be sure to allow enough time for the Departmental Advance ACH to be deposited into the OSU employee’s account by the date needed • For a check pick-up be sure to put in the invoice field, PU and Business Center extension and change the document indicator from M to 1 to ensure a single check

  45. Departmental Advances are entered into Banner by the Business Center In the commodity line use the following standard: Employee’s last name, first initial and description plus dates of project use FOATEXT to add any additional information Enter the accounting against the Business Centers clearing fund and account code A3150 (Departmental Advances)

  46. When the Departmental Advance funds are released • Check Pick-Up/Direct Deposit • Funds will not be released more than 7 days before the departure date • Business Center staff picks up and signs for check at Business Affairs • The OSU employee must show photo ID at the time the check is picked up from your Business Center

  47. When the Departmental Advance funds are released The OSU employee must sign the Departmental Advance form acknowledging the receipt of the Departmental Advance and agrees to the terms under which it is given at the time the check is picked up or prior to the release of the ACH The reimbursement due by the 15th of the next month following the completion of the project and the date is written on the Departmental Advance form and a copy is given to the OSU employee

  48. Settlement of the Departmental Advance OSU employee submits a Personal Reimbursement Request through the OSCAR Personal Reimbursement task or completes the downloadable form and attaches a copy of the Departmental Advance form to the Business Center • OSU employee is receiving a reimbursement when expenses are greater than the amount advanced and a Banner document is created to reimburse the employee • OSU employee submits a personal reimbursement with a copy of the Departmental Advance when no reimbursement is due the employee and nothing is due back to the university. A JV is done by the Business Center to complete the settlement of the Departmental Advance that posts the expense and credit to the clearing fund bringing the clearing fund to zero.

  49. Settlement of the Departmental Advance, continued • OSU employee submits the personal reimbursement and reimburses the university when expenses are less than the amount advance A check is written to OSU for excess funds not expensed and the deposit is sent to the Cashier’s Office in Business Affairs. A JV is done by the Business Center to complete the settlement of the Departmental Advance that posts the expense/credit to the clearing fund and the cash payment posts the clearing the fund.

  50. Reconciliation of the Business Center clearing fund • An excel spreadsheet is recommended to track the open Departmental Advances • Open Departmental Advances should be monitored monthly and balanced to the Banner clearing fund • Use FGITBAL to find the balance of your Business Center clearing fund • All advances must be settled in the fiscal year the project was completed

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