1 / 48

Accounts Payable Training

Accounts Payable Training. Presented By. Judy Murdoch, Accounts Payable Specialist II kajlm00 @tamuk.edu Ext. 3951 Marcy A. Flores, Asst. Comptroller & Dir. Of Acctg. kamag00@tamuk.edu Ext. 4192. Accounts Payable Department Organizational Chart. Outline of Topics. Funding Sources

loc
Download Presentation

Accounts Payable Training

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Accounts Payable Training

  2. PresentedBy • Judy Murdoch, Accounts Payable Specialist II kajlm00@tamuk.eduExt. 3951 • Marcy A. Flores, Asst. Comptroller & Dir. Of Acctg. kamag00@tamuk.edu Ext. 4192

  3. Accounts Payable DepartmentOrganizational Chart

  4. Outline of Topics • Funding Sources • Purchasing Guidelines • Expense Object Codes • Controlled & Capitalized Object Codes

  5. Funding Sources • State - Education and General (E&G) • Local - Designated/Auxiliary • Federal - Restricted

  6. State Funds • Account numbers Range (1xxxxx – 19xxxx; 87xxxx – 879999) • Voucher numbers Begin with zero • Strict Guidelines State guidelines and law must be followed and show direct benefit to the University

  7. Local Funds • Account numbers Range (2xxxxx, 3xxxxx; 4xxxxx; 5xxxxx; 6xxxxx) • Voucher numbers Begin with five • Strict Guidelines Texas A&M University System Policies and Regulations must be followed and show direct benefit to the University

  8. Federal Funds • Account numbers Range (40xxxx) • Voucher numbers Begin with five • Strict Guidelines Federal Fund guidelines and laws are set by the federal program overseeing the funds.

  9. Purchasing Guidelines • Reviewing each Purchase Voucher • Items to be included on a payment request • Invoices / Receipts • Required State Documentation

  10. Purchasing Guidelines • State of Texas Prompt Payment Law 30 day rule Interest (4.25% of unpaid balance) Disputed payments (21 days) • Vendor Information W-9 • Vendor and Employee Payments Direct Deposit

  11. Purchasing Guidelines • Advance Payments Prepayment Certification • Advertising Original Tear Sheet of Advertisement • Aircraft Rental Contact System Aircraft Department Aircraft Operations-TXDOT approval

  12. Purchasing Guidelines • Alcoholic Beverages Unallowable State Expenditure With approval (gift, grant, fee funds) • Alumni Activities State funds may not be used for the support or maintenance of alumni organizations or activities. • Audits of State Agencies Unallowable State Expenditure

  13. Purchasing Guidelines • Auxiliary Enterprises State funds may not be used for support of auxiliary enterprises. • Charitable Organizations State agency may not provide money, goods or services to a charitable organization.

  14. Purchasing Guidelines • Conference Registration Fees Advance payment (6 weeks in adv) Required information on payment request: Name of person attending; Full name of conference; Dates of conference; Reason for prepayment (certification); Agenda.

  15. Purchasing Guidelines • Employee Certification/Licensure Job-related • Employment of Retirees 30-day rule (contact payroll) • Flowers, Floral Arrangements, and Plants Unallowable State Expenditure

  16. Purchasing Guidelines • Food Purchases State funds (Code 4050) (Food purchase with State funds are very limited.) Example of allowable expenditure: Nursery School Required documentation: purpose clearly stated. Institutional funds Code 6339 – Other than Business Meals Code 6340 – Business Meals Required documentation: Names of attendees, purpose of business meeting.

  17. Purchase Guidelines • Gifts and Awards Institutional Funds State Funds ($100.00 ceiling) • Honoraria or Speaking Fees

  18. Purchasing Guidelines • Memberships/non-professional organizations • Memberships/professional organizations All memberships must be approved by Marcy Flores, Asst. Comptroller & Dir of Acctg.

  19. Purchasing Guidelines • Moving Expenses Agreement Letter along with original receipts. • Notary Fees Employees not required to be bonded. http://www.sorm.state.tx.us/Risk_Management/Bonds_and_Insurance/notary_forms.php

  20. Purchasing Guidelines • Professional Services Accountant Architect Engineer Land Surveyor Physician Registered Nurse

  21. Purchasing Guidelines • Recruitment of Students Unallowable State Expenditure • Speakers A&M System Member • Subscriptions

  22. Purchasing Guidelines • Taxes – Federal and State Exempt from most federal and state • Tips and Gratuities Unallowable State Expenditure

  23. Object Codes

  24. Operating • Travel 3000 - 3415 • Supplies & Materials 4000 - 4899 • Utilities 5000 - 5039 • Telecommunications 5100 - 5199 • Fees 5200 - 5259 • Consultant Services 5350 - 5399 • Professional Services 5400 - 5499 • Maintenance & Repair 5500 - 5555 • Other Services 5600 - 5699

  25. There’s More!!!! Non Capitalized Furn. & Equipment 5700 - 5799 Non Inventoried 5750 - 5774 Rental & Leasing 5800 - 5899 Scholarships 5900 - 5929 Grants 6000 - 6049 Other 6200 - 6450 Items Purchased for Resale 6900 - 6999

  26. How to Code an Expense Properly Remember The 5 W’s • Who? Who will be using it? • What? What is it and what is it being used for? • Why? Why are we purchasing it? • When? When will it be used? • Where? Where will it be used?

  27. Travel Object Codes • 3011 or 3111 Code for Airline Ticket • 3025 or 3125 Service charge on airline tickets from travel agencies

  28. Travel Object Codes • 3210- Prospective State Employee Must submit a travel voucher listing the position they applied for in order to be reimbursed – Cannot be reimbursed on an LDOC or a paper Requisition • 3410 - Travel Students Conference & Registration Fees for Students (local and non-grant only; NO STATE ACCOUNTS) • 3411 Travel Students Travel agency Fees for students

  29. Travel Object Codes • 3415- Student Recruiting Expenses Used for expenses incurred during the process of recruiting a prospective student (Ex: hotel for student and parents and meals) • 6031- Grants – Travel & other related expenses Used for Students who are traveling and using grant funds (Ex: Special Programs Participants) • 6340- Business meals Example: a TAMUK faculty or staff member takes a prospective employee to lunch or dinner. Must submit purpose of meal or agenda, list of attendees, and meal reimbursement form indicating whether or not alcohol was purchased

  30. Codes Related to Food • 4050– Food Purchases(Research, Seminars, Teaching) To record payment for the purchase of food used in a research, seminar or teaching capacity. This code does not include purchase of food for student activities, business meals (6340) or animals purchased for immediate slaughter for food. (Ex: Walmart, HEB, etc.) • 4051–Not Used

  31. Codes Related to Food • 6338 – Catering Services To record payment for catering or other food services provided by any external vendor. Examples: Sodexho, Linda’s Main Street Café, Young’s Pizza (when catering) • 6339– Food Purchases(not business meals) To record payment for the purchase of food. This includes purchase of food for student activities other than room and board. Excludes business meals (6340), food research, seminars, teaching (4050) or animals purchased for immediate slaughter for food. ( Ex: Walmart, HEB, Lydia’s Pizza Hut, etc. (not allowed on state accounts)

  32. Should be used to capture TRUE Office supplies such as: Pens, pencils, paperclips, rubber bands Paper, envelopes, post its, index cards Folders, notebooks Calendars, tape, calculator ribbon Should NOT include items such as: Stapler, hole punches, rubber stamps, nameplates, rulers, blank video tapes, easels (4085) Diskettes, computer toner, printer cartridges, cd’s (4020) Printer (5760) Surge Protector (4090) 4010 – Office General

  33. Should include items used for janitorial purposes such as: Disinfectant Disposable gloves Paper Towels Any Cleaning Solutions Air Filters Napkins & Paper Plates Light Bulbs (not 4076) 4011 Paper Goods & Janitorial

  34. This code should be used to capture TRUE Research expenses such as: DNA Samples Test Tubes Jars or Viles Venom Tags for Wildlife Microscope Slides Thermometer Covers Not used for items such as: Freezers (5752) Ice Chests (5752) Books (5765) Chemicals (4040) File Cabinets (5750) Deer Feed (4055) 4013 – Research Supplies

  35. More Codes and Their Uses: • 4014 – Supplies Ammunition Should be used strictly for ammunition • 4030– Fuels and Lubricants Should be used for items such as: grease, oil, antifreeze and fuel additives. Should not be used for Gasoline (4036) Diesel (4037) or Propane (4038) • 4040 – Chemicals & Gases Should be used for items such as: dry ice, oxygen, liquid nitrogen, refrigerant gases etc. • 4055 – Farm, Ranch and Nursery Supplies Should include animal feed, veterinary drugs, hay, block salt, and halters. Does not include fertilizer (4056) or pesticides(4058)

  36. More Codes • 4076 – Building Supplies and MaterialsIncludes countertops, breaker boxes, electrical outlets, lumber, door locks, paint etc. 4080 – Fabric and LinensIncludes blankets, pillow cases, fabric for theatre costumes, This does not include uniforms (5755) or t-shirts for camp participants (5641)

  37. And still more codes……. • 5211– Membership Dues Includes all Business, Technical and Professional Organizations Must be approved by Asst. Comptroller & Dir. of Acct. (Marcy Flores)5213– Membership Dues Other – NOT USED5215 – Employee Training Registration Fees;Includes payment of registration or other associated fees for seminars and conferences attended by state employees. Must include names, dates, itinerary for event and no acronyms can be used 5217 – Employee Training– Tuition – Not Used

  38. 5453 – Other Professional ServicesTo record payment for services rendered on a fee, contract , or other basis by person, firm, corporation, or company recognized as possessing a high degree of learning5460 – Professional Services w/receiptsTo record payment for services rendered on a fee, contract, or other basis by a person, firm, corporation, or company recognized as possessing a high degree of learning. Receipts must support all costs – is not taxable under 1099 Ex: Hotel, meals, car rental, airfare

  39. 5760 – PC Peripherals/Add Ons $0 - $4,999.99Used to record payment for the purchase of computer peripherals when the single unit cost is not capitalized, controlled or required to be reported to the State Property Accounting System. Includes items such as: CD ROMS, controllers, docking stations, computer mouse. 5765– Educational Books, Film & References $0 - $4,999.99Used to record payment for books and other reference material that are not used in a professional, academic or research library. This includes: cassettes, reference books, slides, dictionaries, reference material on diskettes, CD-ROMs (not blank) and videos.

  40. 5767 – Purchase of Animals Used to record payment for purchase of animals, cadavers, birds, fish, mammals, reptiles, rabbits and insects, dead or alive • 5840– Rental of Motor Vehicles To recordpayment for the rental or lease of motor vehicles. Example: Renting a vehicle to transport non employees.

  41. Object Codes for Fixed Assets Tagging required by State regulations Tag number needs to be assigned and adhered within ten days Will be on department physical inventory

  42. Controlled Assets • Items that are required to be reported to State Comptroller • Must know who is responsible for the item • Must know where the item is at all times

  43. Controlled Property

  44. Capital Assets • Single unit cost is $5,000 or more • Do not include cost of extended warranty • Do not include maintenance agreements • Do not include parts listed separately • Do include freight and installation cost

  45. Capitalized Property

  46. State of Texas Purchase Policies and Procedures Guide https://fmx.cpa.state.tx.us/fm/pubs/purchase/index.php The Texas A&M University System Policies and Regulations http://tamus.edu/offices/policy/index.html: Texas Government Code http://www.statutes.legis.state.tx.us/?link=GV Internal Revenue Service Forms and Publications http://www.irs.gov/formspubs/ Resources

  47. Melanie Ramirez extension 2249 Judy Murdoch extension 3951 Andrea Dreiling extension 2011 Jeanette Gonzalez extension 2105 Sandra Charles Betty Contreras extension 3950 extension 3951 Contact Information

  48. Questions?

More Related