FRANCIS MARION UNIVERSITY ACCOUNTING OFFICE POLICIES & PROCEDURES MANUAL Revised Date: June 30, 2016 TABLE OF CONTENTS Page Number: 1 I. ACCOUNTS PAYABLE A. DISBURSEMENT APPROVAL 1-19 B. PURCHASING LIMITED PURCHASE ORDER DISBURSEMENT 1 PURCHASE ORDER DISBURSEMENT 1 STANDING ORDERS 4-5 ORIGINAL INVOICE PROCEDURE 6 CONTRACTS 7 ATTORNEY FEE PAYMENT 8 DISBURSEMENT NOT ROUTED THROUGH 9 CENTRAL PURCHASING 10 ENTERTAINMENT EXPENSE 11 C. TRAVEL TRAVEL DISBURSEMENT 1-3 TRAVEL ADVANCE 4-5 TRAVEL INSTRUCTIONS AND FORMS 6-12 REVOLVING CASH ADVANCE PROCEDURE FOR STUDENT GROUP TRAVEL 13-14 DUAL EMPLOYMENT TRAVEL 15-17 IN STATE / OUT OF STATE TRAVEL 18 FOREIGN TRAVEL 19 PERSONAL MILEAGE 20 D. OTHER FORMS OF PAYMENT DRIGGS & KA PSI LOANS 1 LT. RICK GOULD LOAN 2-3 DISBURSEMENT AUTHORIZATION FORM 4-5 PAYMENT TO INDIVIDUALS FORM 6-7 CONSTRUCTION PAYMENT FORM 8 MANUAL CHECKS 9 E. W9 FORM PROCEDURE 1-3 1099'S 4 YEARLY W-2 PRINTOUT 5 F. VENDOR PAYMENT REJECTION INSUFFICIENT BUDGET NOTICE 1 DISBURSEMENT CLARIFICATION FORM 2 G. POLICY FOR REIMBURSEMENT FOR PERSONAL CONSUMPTION 1-2 RECRUITING EXPENSES 3-4 MOVING EXPENSES 5 DISTRIBUTION OF GIFTS / FLOWERS 6 FRANCIS MARION UNIVERSITY ACCOUNTING OFFICE POLICY & PROCEDURE MANUAL Revised Date: June 30, 2016 TABLE OF CONTENTS Page Number: 2 H. CHECK VERIFICATION 1 I. MONTHLY UPDATING ACCOUNTS PAYABLE DATES 1 UPDATING PURCHASE ORDER FILE 2 VEDOR MAINTENANCE 3 II. CASHIERING A. VAULT VAULT SECURITY 1 VAULT CONTENTS 2-4 PETTY CASH 5 TEAM TRAVEL ADVANCE 6-8 B. DEPOSIT DEPOSIT 1-3 DEPOSIT VERIFICATION 4-5 WEB PAYMENT VERIFICATION 5 C. CASHING CHECKS 1 D. RECEIPTS PROCESSING RECEIPTS 1 STUDENT CASH REVENUE 2-5 RECEIPT BOOKS 6-7 NON-STUDENT CASH REVENUE 8-13 STUDENT RECEIVABLES 14 DEVELOPMENT CASH REVENUE 14 CENTER FOR THE CHILD RECEIPTS 15 NON-STUDENT RECEIVABLES 16 VOIDING RECEIPTS 17 TIMES FOR RECEIPT COLLECTIONS 18 E. VEHICLE DECAL REPLACEMENT 1 TEMPORARY PARKING PERMIT 2 "ATTENTION" FLAGS 3 KEYING BILL SCHEDULE OPTIONS 4 F. CASH BOX 1-2 G. END OF DAY PROCEDURES 1 III. ACCOUNTS RECEIVABLE A. HOUSING SUMMER HOUSING 1 STUDENT HOUSING APPLICATION/RESERVATION FEE 2 HOUSING ASSESSMENT 3 HOUSING CHARGES 4-5 HOUSING APPLICATION/RESERVATION FEE 6 FRANCIS MARION UNIVERSITY ACCOUNTING OFFICE POLICY & PROCEDURE MANUAL Revised Date: June 30, 2016 TABLE OF CONTENTS Page Number: 3 B. MEAL PLAN LIST 1-3 C. DRIGGS, K A PSI, AND LT. RICK COULD LOANS 1-2 D DROPPING STUDENTS DROPPING STUDENT WITH PAYMENT PLAN OF FEES 1-2 DROPPING STUDENT WITH REFUNDED AID 3 E. REFUNDS REFUNDS 1-3 REFUND PROCEDURE FOR STUDENT WITHDRAWING WITH FINANCIAL ASSISTANCE 4-5 TITLE IV REFUND CALCULATION 6-7 TITLE IV REFUND QUICK FACTS SHEET FMU REFUND POLICY HERA GUIDANCE ON R2T4 F. TITLE IV OVERPAYMENT 1-2 G. INACTIVE STUDENT WITH DEBIT PLAN BALANCE 1 H. WRITE OFF STUDENT ACCOUNTS RECEIVABLE WRITE OFF STUDENT ACCOUNTS RECEIVABLE 1-2 ASSIGNING ACCOUNTS TO COLLECTION AGENCY 3-4 BAD DEBTS COLLECTED BY SC DEPARTMENT OF REVENUE AND TAXATION 5 I. INVOICING REBATES 1 ANTICIPATED ATHLETIC RECEIVABLES 2 UNANTICIPATED ATHLETIC RECEIVABLES 3 J. FINES TRAFFIC FINES 1-4 MISCELLANEOUS FINES 5-6 EXCHANGE STUDENTS 6-7 INSERTS: HANDLING PREVIOUS YEAR CHARGES RELEASING A BUSINESS HOLD K. RETURNED CHECKS RETURNED CHECKS 1-3 RETURNED CHECKS FOR FEES 4 MAILING CERTIFIED LETTER RELATING TO RETURNED CHECKS TO STUDENTS WHO RESIDE ON CAMPUS 5 RETURNED CHECKS FROM DEVELOPMENT 6 SENDING CHECKS TO THE SOLICITOR'S OFFICE 7 INSERTS: BAD CHECK DATABASE TUTORIAL FRANCIS MARION UNIVERSITY ACCOUNTING OFFICE POLICY & PROCEDURE MANUAL Revised Date: June 30, 2016 TABLE OF CONTENTS Page Number: 4 L. PAYMENT PLAN ENROLLMENT 1-3 M. NON-STUDENT ACCOUNTS RECEIVABLES MISCELLANEOUS 1 FACILITIES RENTAL 2 CONTRACTS 2-3 N. INTERDEPARTMENTAL TRANSFER (IDT'S) 1 O. WRITE OFF NON-STUDENT ACCOUNTS RECEIVABLE 1-2 P. OTHER BALANCING OF ACCOUNTS RECEIVABLE 1 FUNDS HELD 1 TRIAL BALANCE TO SUBSIDIARY 1 HOUSING DEPOSITS 2 ADJUSTING CASH REVENUE FOR SUMMER II FEES 2 DISCOUNT OF FEES 3 INSERTS: CONFIDENTIALITY POLICY IV. FINANCIAL ASSISTANCE A. FEDERAL PERKINS LOAN 1-3 DEFERMENTS / SERVICE CANCELLATIONS 4 PAST DUE 5 COLLECTION AGENCY 6 PAID-IN-FULL 7 JOURNAL ENTRIES / BALANCE MONTHLY 8 REHABILITATION / CREDIT BUREAU REPORTING 9-10 ASSIGNING TO DEPT. OF ED. 11 SC DEPARTMENT OF REVENUE 11 B. OUTSIDE SCHOLARSHIPS HANDLING OUTSIDE SCHOLARSHIPS 1-2 HANDLING SCHOLARSHIP BILLINGS 3-6 C. ISSUING CHARGE AUTHORIZATION CARDS 1-2 D. DIRECT, MISCELLANEOUS, & TEACHER LOANS 1-2 E. BALANCING COMBINED AID/CHANGE LIST 1 FEDERAL WORKSTUDY WAGES 1 EDCAPS 2 OTHER FEDERAL DRAWDOWNS 2 OTHER STATE GRANTS 2 FRANCIS MARION UNIVERSITY ACCOUNTING OFFICE POLICY & PROCEDURE MANUAL Revised Date: June 30, 2016 TABLE OF CONTENTS Page Number: 5 V. GENERAL A. TRANSACTION APPROVALS 1-4 B. SIGNING CHECKS 1 C. STOP PAYMENT 1-2 VOIDING CHECKS 3 D. TRANSACTIONS WITH CHARGES AND RECEIPTS ADJUSTMENTS 1 INTRA-INSTITUTIONAL TRANSFERS 2 E. MAIL MAIL DISTRIBUTION 1 SENDING CERTIFIED MAIL 2-3 F. COMPUTER BACKUP 1 G. UPDATING CHART OF ACCOUNTS 1 H. SPIRS 1 I. CLAIMS FOR LOSSES 1-2 J. FORM 1042-S 1 MOVING EXPENSE FROM W-2 2 K. PERMANENT HOLDS 1 L. BANK STATEMENTS BANK STATEMENT RECONCILIATION 1-2 STALE DATED CHECKS/ABANDONED PROPERTY 3 ABANDONED PROPERTY 4 M. CASH MANAGEMENT DIRECT DEPOSITS 1 TRANSFERS FOR INVESTMENTS 1 WITHDRAWAL VOUCHER AND TRANSMITTAL 2 SPREAD OR DISTRIBUTE MONEY 3 MAINTAINING FEDERAL FUNDS 3 INTERDEPARTMENTAL REVENUE 4 APPROPRIATION TRANSFER 4 ACH REVENUE 5-6 STATE TREASURER'S SUBFUND ACCOUNT 7 REVENUE CLEARING 8-9 TOTAL CASH 10 OPERATING ACCOUNT 10-11 PAYROLL ACCOUNT 11 DEPOSITS FOR PAYROLL 12 FEDERAL RECEIVABLES 12 N. REGISTRATION INSTRUCTIONS INSTRUCTION FOR COLLECTORS 1-2 FRANCIS MARION UNIVERSITY ACCOUNTING OFFICE POLICY & PROCEDURE MANUAL Revised Date: June 30, 2016 TABLE OF CONTENTS Page Number: 6 REGISTRATION SUPPLIES 3 TELEPHONE SYSTEM DURING REGISTRATION 4 O. LEASE PROCEDURE 1-2 P. INTEREST PRORATION TO SCHOLARSHIPS 1 Q. INSURANCE POLICY RENEWALS 1-2 R. TAX REPORTS SALES AND USE TAX 1-2 ADMISSIONS TAX 2 S. INCREASE IN PETTY CASH 1 T. GENERAL ACCOUNTING MONTHLY BALANCING 1-5 U. JOURNAL ENTRIES ACCOUNTING JOURNAL ENTRIES 1 NON-ROUTINE PAYROLL JOURNAL ENTRIES 2 MONTHLY JOURNAL ENTRIES 3-5 JOURNAL ENTRIES TO RECORD LEASES 6 PRIOR TO YEAR END JOURNAL ENTRIES 7 YEAR END JOURNAL ENTRIES 8-9 V. EXPENDITURE OBJECT CODE DEFINITIONS 1-20 W. CAPITALIZATION POLICY 1-3 VI. CHECK LISTS A. CHECK LISTS FOR INDIVIDUALS 1-28 B. BACKUP DUTIES 1-2 FRANCIS MARION UNIVERSITY ACCOUNTING OFFICE POLICIES & PROCEDURES MANUAL Revised Date: June 30, 2016 ACCOUNTS PAYABLE Page Number: P.I.B.1 PURCHASE ORDER DISBURSEMENT Responsibility Action Requestor Prepares requisition and forwards to Purchasing. Purchasing Originates purchase order and forwards copy to Accounts Payable. Central Receiving Verifies that the item is received and properly accounted for. Sends material to requestor. Requestor Verifies item, notes the receiving copy appropriately, attaches the packing slip if available, and forwards to Purchasing. Purchasing Forwards copy of receiving report, marked partial or complete, to Accounts Payable. Accounts Payable Receives invoice from vendor, verifies and matches with appropriate purchase order, receiving report and equipment form (if applicable). Checks vendor address, quantity and price of items, discounts, and tax for accuracy. Reviews invoice for shipping charges. Calculates tax on freight if invoice states FOB destination or if no shipping terms are indicated. (If terms state FOB shipping point origin, do not pay tax on freight.) Keys information for payment. FRANCIS MARION UNIVERSITY ACCOUNTING OFFICE POLICIES & PROCEDURES MANUAL Revised Date: June 30, 2016 ACCOUNTS PAYABLE Page Number: P.I.B.4 STANDING ORDERS A standing order can be used for routinely paid vendor contracts where payments are equal and/or regular or varied and/or irregular. Responsibility Action User Prepares requisition with the option of the total amount to be encumbered for the established time period and forwards to Purchasing. Purchasing Originates purchase order with total amount encumbered and sends copy to Accounts Payable. EQUAL AND/OR REGULAR PAYMENTS Responsibility Action Accounts Payable Receives invoice from vendor, verifies, matches with appropriate standing order, and emails user for approval to pay. Exceptions that require manual approval: attorney fees, Human Resources disbursements, and Telecommunications disbursements. Processes payment. OR User Receives invoice, approves, and forwards to Accounting for payment. Accounts Payable Matches invoice with appropriate standing order and processes payment. FRANCIS MARION UNIVERSITY ACCOUNTING OFFICE POLICIES & PROCEDURES MANUAL Revised Date: June 30, 2016 ACCOUNTS PAYABLE Page Number: P.I.B.5 STANDING ORDERS (CONTINUED) VARIED AND/OR IRREGULAR PAYMENTS Responsibility Action User Notifies Accounts Payable with requisition when specific goods or services are requested or received. Accounts Payable Receives invoice, verifies, and processes payment. OR User Receives invoice, approves, and forwards to Accounts Payable Accounts Payable Receives invoice, verifies, and processes check. FRANCIS MARION UNIVERSITY ACCOUNTING OFFICE POLICIES & PROCEDURES MANUAL Revised Date: June 30, 2016 ACCOUNTS PAYABLE Page Number: P.I.B.6 ORIGINAL INVOICE PROCEDURE Responsibility Action Accounts Payable Date stamps Invoice and attaches it to outstanding purchase order. If no receiving report is attached, puts purchase order back into outstanding file. Informs Purchasing that a receiving report is needed. If there is no matching purchase order for the invoice, makes copy and send to Purchasing or appropriate department. Puts original into the outstanding invoice file with the date marked when copy was sent to the appropriate person. Purchasing Forwards copy of invoice to the appropriate department and requests that the appropriate paperwork be completed to generate a purchase order. Sends purchase order along with the receiving report to Accounts Payable with the copy of the invoice attached. Accounts Payable Receives purchase order and attaches original invoice to it. If receiving report is attached, processes invoice for payment. If a purchase order is not submitted within a week, sends copy with a reminder message to Purchasing.