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Financial Management Newsletter #39August 2006 |
Hello! This issue of the Financial Management Newsletter includes information about the following: * The Global Support Project is Up and Running! * Are You Direct Depositing Yet?? * Equipment Inventory Reminder * Project Cost Accounting (PCA) Assistance Available * Invoice Mailing Recommendations ************************************************************************ The Global Support Project is Up and Running! The Global Support Project was established earlier this summer with campus-wide representation and a goal to identify and implement improved administrative mechanisms to support global work. Phase I will focus on research and sponsored programs. We expect Phase I to extend into Winter Quarter 07. Deliverables may range from guidelines, tools, information, policies and procedures. A hallmark of our work is broad communication with campus to seek input and evaluate potential deliverables. As Phase II emerges, with an emphasis on education programs, our goal will be to identify remaining administrative support mechanisms that may be unique to these activities. Our first task is to identify issues, challenges and/or barriers experienced by individuals doing or supporting this work. While there have been preliminary efforts to do this, focus groups will be established later this Fall to confirm and expand upon our preliminary work and to help establish priorities and scope. Questions about this project or to communicate interest in participating in our initial focus groups can be directed to Ann Anderson at andera@u.washington.edu or at 206-543-4993. *************************************************************************** Are You Direct Depositing Yet?? The name Katrina will be etched in our memory for many years to come. Quite possibly the most damaging of any hurricane in recent years, Katrina left a path of despair and destruction in the gulf region. What does this have to do with Direct Deposit, you ask? The last thing people in the gulf region were concerned about was whether their paychecks would disburse to them in the aftermath of the disaster. But nonetheless, they needed to have those funds in their accounts when expected. Mailing service was suspended. People were relocated to other parts of the country with no forwarding information provided to their employers, in many cases. However, employees participating in Direct Deposit programs received their payroll disbursements. Many receiving checks did not, and in some cases, for many weeks. Direct Deposit allowed funds to flow into accounts without delay. The Payroll Office encourages employees to consider Direct Deposit. It saves time, prevents lost/stolen checks, and eliminates the need for a trip to the bank. In the case of a catastrophic disaster, it may be the only means to get an employee their pay. Please encourage your employees and co-workers to enroll in Direct Deposit. An employee can enroll on-line through their Employee Self Service (ESS) account or by completing a Direct Deposit Authorization Form. Additional information, including the form and instructions, can be located at: http://www.washington.edu/admin/payroll/directdeposit.html. ********************************************************************* Equipment Inventory Reminder Attention Departmental Inventory Contacts: As a Departmental Inventory Contact, you would have received an inventory packet during the first week of May from the Equipment Inventory Office (EIO). This packet detailed your department's physical inventory of equipment as either DUE or OPTIONAL this year. If DUE, please ensure that your department's inventory is completed and submitted to EIO no later than August 31. Having completed, accurate, and on-time inventories will set a good foundation for upcoming State and other external audits. If you have any questions, please contact EIO at eio@u.washington.edu or 205-543-4663. *********************************************************************** Project Cost Accounting Assistance Available MyFinancial.desktop Customer Support offers 2 options to help your department with Project Cost Accounting (PCA). 1) PCA consulting services for individual departments: We will help you create your own Chart of Accounts, enter your PCA coding structure into the UW Financial Accounting System (FAS) and create various reports using MyFinancial.desktop. Visit the following URL to request this (free!) service: http://www.washington.edu/admin/finacct/office/fd/help/?p=report_train_request 2) Online PCA tutorial: This website provides an online tutorial for navigating the process of implementing and maintaining PCA for your department. The tutorial can be found at: http://www.washington.edu/admin/finacct/office/fd/help/?p=home Additional questions may be directed to myfdhelp@u.washington.edu. *********************************************************************** Invoice Mailing Recommendations We highly recommend you have your vendors send invoices directly to AP for processing. This eliminates departmental holding and mailing delays and ultimately results in the vendor receiving payment sooner. If you have a need for vendors to send invoices directly to your department, please forward to AP in a timely fashion so that payment processing can begin. This includes invoices attached to Check Requests (for payments to individuals). Invoices should be sent by departments to Accounts Payable at Box 351130, or mailed by the vendor directly to UW Accounts Payable, 3917 University Way, N.E., Seattle, WA, 98105. For payment inquiries or assistance, call the Accounts Payable Customer Service at 206-543-4500. ************************************************************************* Ann |
Ann Anderson, Controller (andera@u.washington.edu or 543-4993) V'Ella Warren, Vice President, Financial Mgmt & Treasurer, Board of Regents (vwarren@u.washington.edu or 543-8765) |