Controller's Office Updates

Bursar's Office  

Beginning January 2013, E-check payments can be made with NO CONVENIENCE FEE.

Treasury Management

Foreign Check Deposit – Credit given by the University’s bank for deposited checks issued from a foreign institution located outside the U.S. is determined by two factors: 1) if the payer bank has a Correspondent bank in the U.S. and 2) if the check was drawn in foreign currency.  The University receives full credit for a check drawn in U.S. dollars from a foreign bank who has a Correspondent bank in the U.S.  Delays in the effective date of the credit and fees, e.g., processing fee, foreign bank fee, occur when the payer’s bank does not have a Correspondent bank in the U.S. or if the check is drawn in foreign currency.  Additional information about foreign check deposits. 

PNC Visa Gift Cards - The University is no longer purchasing VISA Gift Cards from PNC, but instead has contracted with Swift Prepaid Solutions, a contracted prepaid card solution provider.  Additional information about this new Gift Card ordering service.  After reviewing policies and procedures, access to Swift Prepaid Solutions can be requested by emailing the Controller’s Office.  

Wire Receipts - To insure there is no delay in receiving your wire payment from a payor, please check to make sure they have accurate wire instructions using both PNC bank Routing (same for ACH/Wire) and Account number.  Effective 4/1/11 wire transactions using the terminated National City Routing #083000056 are returned to sender.  While PNC has not identified a date yet to stop accepting ACH transactions using the terminated National City Routing #, Treasury encourages everyone to contact their Payor and confirm they have the correct PNC bank information.

When providing bank information to payors contact Treasury Management first to confirm correct and complete banking instructions are provided.  We can provide a file for you to give the payor containing all the information needed to send an EFT (Electronic Funds Transfer).  At the same time Treasury asks departments to complete our internal form, Request Remittance to UofL Via EFT. This form provides information to help us identify your payment when it comes in and to expedite the process of getting it posted.  Also, instructing the payor to include your department name in the EFT Reference field will help insure the payment is posted in a more timely manner.

University Accounting & Reporting

Updates to PS Journal Voucher and IUT forms

New Policies: 
   Deposit Methods - Summary of different methods available to units to deposit funds

   Agency Programs - Description of Agency Programs and the special policies and procedures those programs follow

Accounting Operations

Federal Mileage Reimbursement Change effective January 1, 2012 $.55.5 for travel and $.23 for moving

New Vendor Policy Update and Foreign Vendor Survey Added

Instructions and clarification on how to book hotel rooms on the Egencia Corporate Travel website and charge them to the University's Central Billing Card
 
Payment Processing Schedule for Accounts Payable:
Checks - Monday & Wednesday
ACH & CCD - Tuesday & Thursday
ActivePay (credit card) - Wednesday

Accounts Payable Inquiry Instructions to check vendor payments, employee reimbursements, etc. in PeopleSoft Financials

Updates to the "Certification of Non-Original Receipt" and "Certification of Missing Document" forms to better identify which specific expenses are related to the form