University of Arkansas at Little Rock

Chivonda Coleman has joined UALR as an accountant in Financial Services-Accounts Payable. Chivonda recently obtained her B.S. degree in business from the University of Phoenix and is currently working on a master of education degree at UALR. In her position, she is responsible for processing invoices, preparing use tax reports, and researching stale-dated checks.

Vanessa Whitman, an accountant in Financial Services-Accounts Payable, has been promoted to the position of accounts payable manager. In this position, Vanessa is responsible for managing the overall functions of the Accounts Payable department.

To assist Accounts Payable in the fiscal year-end process, departments are requested to review the status of all outstanding purchase orders, particularly those that have a processed purchase order receiver in Banner for which an invoice receipt is still outstanding. In these instances, the department should contact the vendor to request that an invoice be faxed to Accounts Payable at 501.569.3338.

To ensure that payments are generated in a timely manner, it is very important that invoices received by departments are sent immediately to Accounts Payable. Invoices are processed within five days from the time they are received. If there is an urgent need for an invoice to be processed quicker, this should be indicated on the invoice.

Employees have five days from the day they return from a trip to submit their TR-1 to Accounts Payable. A hotel receipt must always be attached to the TR-1 (even if the hotel was paid with a CTS card or direct billed). The hotel receipt is required so that Accounts Payable can audit the amount paid for hotel charges and confirm that the charges are in compliance with the maximum allowed by the state.

If airline and registration expenses are paid using a CTS or are direct billed, the amount should be listed on the TR-1 under the appropriate column. Receipts for these charges are not required.

Departments are able to enter their receivers directly rather than forwarding them to Financial Services, speeding up the payment process. To receive individual training on this process, contact Armenta Lockhart, aelockhart@ualr.edu or 501.569.8448.

Invoices using a purchase order must meet a “three-way match” before a payment can be issued. If a purchase order was generated to obtain goods or services, the invoice is matched to the purchase order and the proof of receipt (receiver). A payment will be issued either by check or direct deposit when all three documents exist in FOIDOCH. Access FOIDOCH to find out if your payment is pending the completion of one or more of these documents.

A common misconception is that UALR is exempt from paying sales or use taxes. However, this is not the case. Sales and use taxes must be paid on all items and purchase transactions, unless specifically exempted by law. Currently, the sales tax rate in Arkansas is 8.5 percent.

Accounts Payable can flag a check to be held in those situations where it is needed.

If you have such a situation, in addition to the regular procedures taken, the direction to hold the check should be written across the top of the invoice document along with an email address of one contact person to be notified when the check is ready.

Communication written on receivers will not necessarily make its way to the accountant. Across the top of the face of the invoice is the best place to put that information.

In addition, some departments are routing “payment enclosed” documents to Accounts Payable. “Payment enclosed” documents are those payments that the department has not encumbered in advance for various reasons.

These documents should be routed directly to Purchasing. They are imaged in that department and then routed to Accounts Payable for processing.

Are you aware that the university can disburse most reimbursements and refunds by direct deposit? This process supports funds getting to our students, faculty, staff and vendors much quicker, is less expensive, and promotes sustainability.  Here are some interesting facts:

Currently 73 percent of students have signed up for direct deposit. Why is this significant?

• Those students no longer have to worry about checks going to the wrong address or getting lost in the mail.
• Students receive their money faster.
• The bank does not have to process that money at the teller window.
• The Bursar’s Office does not have to process those checks and pay the postage.
• There is no danger of check processing held up because of equipment problems (printer, folder sealer), or lack of staff.
• Student Accounts do not have to deal with returned and lost checks and related communication with the students and the bank. They can spend that time better serving the students.

Currently only 31 percent of travel reimbursements go out by direct deposit. Why so few?

• Employees possibly are not aware that direct deposit for non-payroll reimbursements is separate from their payroll set-up. Because of the separate process and policies, separate arrangements have to be made.

Currently 24 percent of vendors have signed up for direct deposit. How does this help?

• Vendors receive their money faster and call the university less.
• Departments deal with less vendor payment inquiries and can focus more on the students.
• The Bursar’s Office does not have to process those payments and can spend that time giving more attention to students.
• Financial Services have fewer lost check problems and deal with fewer calls from the vendors, allowing them time to deal with vendors more effectively.
• Less paper.

Signing up for direct deposit is a simple process.  Employees can set themselves up for direct deposit at any time through BOSS, or they can email a request to Financial Services asking that their direct deposit be set up the same as their payroll account. Remember, in order to maintain the security of your accounts, no account information should ever be sent over email. Finally, unlike payroll, non-payroll reimbursements can only be direct deposited into one account. To request direct deposit for non-reimburseables, or if you have any questions regarding this process, email kmmerrit@ualr.edu. Please include your T number when requesting direct deposit.