Updates and Changes to the Guide to Financial Management

…“if the claimant is not an employee, state the business purpose (e.g. state the affiliation of the claimant to the PI’s research project). The Expense Reimbursement Direct Deposit (ERDD) online…

Air Travel Emissions Mitigation Initiative (ATEMI) – Impact on Financial Administration

…airfare fields) Simulation: Enter Expense Reimbursement (Cheque) or A/P Invoice in FIS (with additional required airfare fields) Simulation: Enter Expense Reimbursement Direct Deposit (ERDD) in FIS (with additional required airfare…

Purchasing and Payments to Vendors

…cover the various methods of payment when purchasing from vendors: Purchase Order Invoices Certified Invoices Payments Without Invoices Processed Through FIS Petty Cash Imprest Expenditure Bank Account Types of Payment…

Reporting

…of operations a statement of changes in net assets statement of cash flows notes to the financial statements which describe the University’s accounting practices and provide additional information on the…

Introduction to FIS

…Assets (account numbers 100000 – 499999) examples of asset accounts include cash, accounts receivable, inventory, land, buildings, equipment and investments. Liabilities (account numbers 500000 – 599999) examples of liability accounts…

Employee versus Independent Contractor and Taxation of Payments (HRIS vs FIS)

…on Petty Cash or Imprest Expenditure Bank Account for specific guidelines. (*) a sole proprietor is a self-employed individual where The business is not incorporated; The individual has sole responsibility…

Internal Long-Term Financing Program

…part of its overall cash management responsibilities. Divisions entering into loan arrangements will be responsible for the blended equal monthly repayments of principal and interest.   Approvals Required Please contact…

Reporting to Sponsors

…Financial Services Department (FSD) Nature of the Financial Report The financial reporting addressed in this section includes reports on cash receipts, budgets, outstanding commitments and expenses as well as University…

Certified Invoices

…reflected in the University’s financial system through the normal purchase order process) Place your order with the vendor and request an invoice for payment (this section) Use your Petty Cash…

Prepayments

…Financial Objectives University Financial Objectives: In accordance with sound risk management, the University should issue payment only when the vendor has delivered the goods or services as ordered. Effective cash…