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FAST Monthly Lunch and Learn Sessions

The FAST team hosts as series of short virtual presentations (30-45 minute presentation + 15 minute for Q&A) on topics of interest for financial administrators.

Note: All sessions will be recorded and presented by FAST and often in collaboration with units such as Procurement Services, and FSD – Banking.

Have any ideas for topics we could address? Take a few minutes to COMPLETE THIS SURVEY to submit your ideas for future topics.

If you have any questions, .

Want to network with other financial administrators and share best practices? Provide your contacts and best practices of interest in here.

CLICK HERE for find and Register for the next Lunch & Learn

Session 1 (May 2023) - Exploring Commercial Vendor Accounts

This presentation addressed the following topics:

  • Determining when to use One Time Accounts (OTA), Alternate Payee or create new vendor accounts
  • How to search for vendors in AMS
  • How to set up new commercial vendors
  • Reasons why a vendor may be blocked
  • How and why to unblock vendors
  • How to access additional resources related to vendor accounts

Presentation Slides


Additional Resources

Procurement Services:

FAST:

Session 2 (June 2023) - Save Time and Keystrokes in FIS

This presentation addressed the following topics:

  • Using the Account Assignment Template to reduce keystrokes
  • Using the history function
  • Post with Reference
  • Creating G/L and Vendor Personal Lists
  • Using the Clipboard function in FIS reports
  • Other related tips and tricks

Presentation Slides


Additional Resources

Session 3 (July 2023) - Managing Departmental Subordinate Bank Accounts

Session 4 (August 2023) - Financial Administration of Research Participant Fees

This presentation addressed the following topics:

  • Defining participant fees/compensation
  • Relevant policy considerations
  • Confidential vs Non-Confidential Participants
  • General Principles for Back-up documentation
  • Electronic distribution of fees (e.g., e-gift cards)

Presentation Slides


Additional Resources

VPRI Resource/Policy Pages:

Forms:

FAST Resources:

Session 5 (September 2023) - Understanding Honorarium with FAST and Central Payroll Services

This presentation addressed the following topics:

  • Defining honorarium
  • When honorariums are appropriate and not
  • Tax and payroll considerations
  • Honorarium payments for voluntary services performed in Canada vs. abroad
  • Processing honorarium payments in FIS vs. Payroll Services/HRS


Presentation Slides


Additional Resources

HR Service Centre

CAUBO – PWC Tax Resource: 

FAST Resources:

Session 6 (October 2023) - Navigating Payment Options at the University - PCard, Travel & Hospitality, uSOURCE and Others

This presentation addressed the following topics:

  • Purchasing thresholds
  • What is eligible to be charged to the Purchasing Card (PCard)
  • What is eligible to be charged to the Scotiabank Visa Travel & Hospitality Card
  • Alternatives to the PCard and Travel & Hospitality Card
  • Processing payments to PCard and the Travel & Hospitality Card


Presentation Slides


Additional Resources

Procurement Services Resources:

FAST Resources:

Session 7 (November 2023) - U of T's Social Procurement Program Launch

This presentation addressed the following topics:

  • Social Procurement
  • Diverse Supplier
  • Purchasing from Diverse Suppliers
  • Demonstrating Benefits
  • Inclusive Procurement Practices
  • Testimonial
  • Portal Demo
  • Q&A

Presentation Slides


Additional Resources

Diverse Supplier Portal

Procurement Resources:

Session 8 (November 2023) - Understanding the New E-Signature and Electronic Document Retention Guidelines

This presentation addressed the following topics:

  • Clarify the new E-Signature and Document Retention Guidelines
  • Outline what is defined as “Internal Financial Documents”
  • Define what are E-Signatures and Digital Signatures
  • Acceptable forms of E-Signatures
  • Process and requirements when approving by email
  • Document storage and retention requirements and options
  • Q&A

Presentation Slides


Additional Resources

Session 9 (December 2023) - 2023 - A Year in Review of Financial Services Initiatives

This presentation addressed the following topics:

  • The Air Travel Emissions Mitigation Initiative (ATEMI)
  • Update to Default AMS/SAP Printing
  • Electronic Funds Transfer (EFT) Initiative
  • International Tuition Fee Payments
  • E-Signature and Paper Retention Guidelines
  • FIS Enhancements
  • Coming in 2024
  • Update on ERDD – Web replacement
  • Q&A

Presentation Slides


Additional Resources

Session 9 (January 2024) - Purchase Order Reporting

This presentation addressed the following topics:

  • Understanding how and when Purchase Order reserves and actuals are posted against FIS accounts
  • Tracking the status of multiple POs
  • Tracking the history of a single PO
  • Understanding the history of the Purchase Order item
  • releasing a Purchase Order reserve
  • Q&A

Presentation Slides


Additional Resources

Session 10 (February 2024) - Trust Fund Policy, Accounting and Reporting

Session 11 (March 2024) - Understanding Outgoing Wire Transfers

This presentation addressed the following topics:

  • What are Outgoing Wire Transfers?
  • When is it appropriate to request an outgoing wire transfer?
  • Why can’t the University Send EFTs for International Payments?
  • Currencies available in FIS to be paid via draft
  • How you can help speed up the process
  • Completing the Wire Transfer Form

Presentation Slides


Additional Resources

Session 12 (April 2024) - A Deep Dive into the ZFM1 - Funding by Funds Center or Fund report

This presentation addressed the following topics:

  • Considerations before generating any FIS reports
  • What is the ZFM1 – Funding: FC or Fund report?
  • What questions does ZFM1 answer?
  • Exploring various outputs depending on type of FM account
  • Using ZFM1 for Research grants
  • Using ZFM1 to report on fiscal year end operating reserves (carryforward)

Presentation Slides


Additional Resources

Session 13 (May 2024) - Exploring the University's Tax Treatment and Tax Codes

This presentation addressed the following topics:

  • What is the University’s tax status and rebate as a Broader Public Sector organization
  • GTFM policy governing HST
  • The University’s tax codes
  • Assessing scenarios and applying the most appropriate tax code
  • Tax codes and conference fees
  • Situations that warrant self-assessing taxes
  • Who to contact with tax treatment questions

Presentation Slides


Additional Resources

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