Archived data from prior periods is available in the FYI Archive.

    • Office Closing Early Wednesday June 29th
    Good Afternoon,
    Disbursement Services and FAST will be closing Wednesday, June 29, 2011, at 12:15 so that our staffs can attend the USNH Summer Picnic.
    If you need our services on Wednesday, we recommend that you call before you make a trip to 1 LL to ensure that someone is available to assist you.
    If you are simply making a delivery, you can deliver it to our "Drop Box" located at 1 Leavitt Lane and we'll attend to the work when we return.
    Please share this notice with others in your area who would need to know so that no one is inconvenienced by making a trip to 1 Leavitt Lane, only to discover that we are closed.
    Please call 862-1400, if you have questions.
    • Check Run Changes for Week of July 4th
    AP and Student Check Run Schedules During Week of July 4th
    Note:The check and ACH schedules for the Holiday week of July 4th will be adjusted as follows to facilitate the deliverance of payments in a timely manner. Keep in mind that the transactions and document entry schedules maybe impacted.
      Week of July 4th - July 8th , 2011
    • Accounts Payable
      • Tuesday, July 5th
        1. AP ACH (pushed back from Monday)
        2. AP Checks (pushed back from Monday)
      • Thursday, July 7th
        1. AP ACH @ 1 PM (normal)
        2. AP Checks @ 1 PM (normal)
    • Student Rebates
      • Tuesday, July 5th
        1. PSU Student ACH (pushed back from Monday)
      • Wednesday, July 6th
        1. UNH student ACH (pushed back from Tuesday)
        2. UNH student checks (pushed back from Tuesday)
        3. GSC student checks (pushed back from Tuesday)
        4. PSU Student ACH (normal)
      • Thursday, July 7th
        1. PSU Student checks (normal)
        2. PSU Student ACH (normal)
    • Fiscal Year End - Payroll Expense Reallocation Guideline

    Payroll Expense reallocation via Banner PHAREDS form:

    It is recommended that FY11 payroll expense reallocations be completed by the close of business on Thursday June 30, 2010. This will ensure that your expense data is appropriately reflected in the year end statements.
    PHAREDS will remain available during the 13th month. However, it is strongly recommended that all FY11 changes be made prior to June 30th.
    If a PHAREDs transaction was not completed prior to June 30th and must be processed during the 13th month, please keep the following in mind:
    If a PHAREDs transaction was not completed prior to June 30th and must be processed during the 13th month, please keep the following in mind:
    • The "PHAREDS Posting Date" controls the financial fiscal year of the expense reallocation.
        1. A posting date of 6/30/2011 or before will cause the entry to be reflected in FY11
        2. A posting date of 7/1/2011 or after will cause the entry to be reflected in FY12
    • Care should be taken to assign the appropriate fund-organization-account codes.
    • All entries should be reviewed and authorized by the BSC Director and/or the individual responsible for the expenses.
      Expense transactions are included in WEBI/MR reports based on the fiscal year of the pay event and in some cases the activity date of when the transaction was updated. For example: A transaction processed in July, may display on the FY12 WEBI/MR reports.
      Once the FY11 June month is closed at the end of the 13th month, all reallocations will post to finance as FY12 July expenses.

      Year-End Distribution Change Notice requests submitted to USNH Payroll:

      June 23, 2010 is the deadline to submit Distribution Change Notice requests to USNH Payroll. This will enable Payroll staff to be able to process the PHAREDS transaction before the June 30th cut-off date.

      Who to contact if you have questions:

      If you have any questions, you should email or call the USNH Payroll Office at 862-1400.
      • FY 2011-2012 Old Year/New Year Update
      All New Year Budgets from Budget Development have been successfully posted. HR FY2012 Salary and Fringe encumbrances have been calculated in HR and posted successfully in finance. The encumbrance number for this activity is PR120001. HR is now in FY2012.
      A few reminders related to Old Year/New Year processing;
      1. Purchase orders and general encumbrances should be finalized, as appropriate, in preparation for the encumbrance roll which will occur on Thursday, June 30.
      2. All general encumbrances will be closed as of Thursday, June 30; no general encumbrances will be carried over into the New Year.
      3. FY2011 Payroll encumbrances (encumbrance document number PR110001) will be closed on Wednesday, July 13.
      On Thursday, June 30;
      1. The system will be closed to users at 5 PM.
      2. The encumbrance roll for qualified Old Year Purchase Orders will occur (see the Old Year/New Year document for details).
      3. The general ledger balances will be rolled.
      4. Unimarket will be unavailable until Friday, July 1.
      Please refer to the FY11-12 Old Year/New Year document and/or the FY11-12 Important Dates list for additional details.
      • Repair work at USNH Financial Services entrance and ramp at 1 Leavitt Lane is complete and open
      Good afternoon,
      Great News! The repair work to the USNH Financial Service entrance stairs and ramp is complete and open for use beginning today. Thanks for your patience and enduring the inconveniences during the 4 week repair period. Please contact us at 862-1400 if you have questions or need any additional information.
      • Banner Finance/HR and Unimarket are now available
      Banner Finance and Unimarket Users,
      Due to production problems, some users might have experienced problems logging into Banner Finance/HR or Unimarket earlier this morning. IT has resolved the problem and everyone should be able to log in now.
      • Important Notice about Expanded Form 1099Misc Reporting
      Good morning,
      In 2008, the Housing Assistant Tax Act was passed and included Section 6050w that pushed Form 1099Misc reporting of PCARD payments to the Bank, beginning with payments made in 2011. As a result USNH will no longer be responsible to report any payments that have been purchased through USNH’s PCARDs on Form 1099Misc. This act did not eliminate USNH's reporting responsibility for payments made through a convenience check; therefore we retain reporting responsibility for any PCARD convenience check payments.
      In 2009, expanded Form 1099Misc reporting was included with the Health Reform Act, which required USNH to report payments to corporations and payments for goods. The good news is that the Health Care Reform Act's expanded reporting was repealed by HR.4 - 1099 Act on April 14, 2011 by President Obama. It is important to note that this latest legislation did not repeal the increase in penalties for reporting errors that had been included in the Small Business Job Act.
      The repeal legislation left intact the requirement of the BANK to begin reporting of any payment transactions originating through a purchasing card (section 6050W) and the requirement for USNH to report any payments for services processed with a PCARD Convenience check. This change becomes effective for payment activity beginning on January 1, 2011.
      USNH Accounts Payable staff will continue to monitor payments made through Banner Accounts Payable system and made with PCARD Convenience checks to ensure that appropriate payments are captured by the 1099 processes and reported at the end of the calendar year. The 1099 process runs after each check run and selects the Banner Invoice for 1099Misc reporting based on the expense account code used.

      How can the BSCs and Campus Accounts Payable assist to ensure that USNH is compliant with IRS reporting regulations?

      It is important that the appropriate Banner account code be used for the expense distribution when processing any invoice to ensure that the payment is properly reported.

      What transactions must be reported on Form 1099Misc?

      • Payments for non-employee services to individuals, vendors, partnerships, etc.
      • Payments to non-employees for travel associated with a services contract
      • Payment to a corporation for medical or legal services
      • Payments for non-employee awards, rents, royalties, etc.

      What transactions are not required to be reported on Form 1099Misc?

      • Payments for goods
      • Payments to a corporation (except for medical services and legal services, as these must be reported)
      • Payment to non-profit and government organizations
      • Payment to foreign citizens and vendors where the work was performed in the U.S because reporting is required via the Form 1042S
      • Payment to foreign citizens and vendors where the work was performed outside of the U.S.
      • Payment for reimbursement to employees; business purpose must be fully substantiated

      How will the change in PCARD Form 1099Misc reporting impact USNH?

      USNH policy does not include "services" as an authorized purchase. Therefore, the Pcard reporting change should have little impact, good or bad, on USNH.

      What if an "exception" to current PCARD policy is provided, how will this impact reporting?

      If an exception to current policy is granted, the BSC or campus responsible for the PCARD transaction is responsible for the following:
      • Before any purchase can be made, a vendor code/record must exist in Banner. When a vendor record does not already exist, a USNH Substitute W9 form must be obtained from the vendor/individual and provided to Campus Purchasing to have a vendor code/record created. It is important that the W9 contain an IRS Employer Identification Number (EIN) for suppliers/businesses/organizations or a Social security Number (SSN) for any individuals.
      • Ensure that the PCARD transaction (FAAINVT) fed from the BANK reflects the vendor code and the appropriate account code (This may require a change to the defaulted account code

      Why is this necessary?

      It is necessary to have a valid W9 and vendor record created to ensure that we have appropriate support for payments and required tax information necessary for Form 1099Misc reporting. If a Form W9 is not obtained for a reportable vendor, then USNH is required to withhold back-up withholding tax at 28% and forward the tax to IRS when the payment is made. Use of the appropriate expense account code will determine if a payment is reportable. USNH AP is capturing these payments via a SQL report and manually including them in the 1099 reporting tables. In the future, the automated 1099 process will be changed to include these payments as well.
      Proper use of the expense account code will ensure these payments are captured and USNH is in compliance with IRS requirements.

      Will the PCARD program be expended to include these types of payments?

      At the current time, there are no plans to expand the allowable uses of PCARDs or convenience checks.
      In review, the repeal of the expanded 1099 reporting legislation is very good for USNH. We appreciate the effort put forth by our BuyPay community to follow appropriate purchasing procedures, to use appropriate expense account codes when processing Banner invoice documents (FAAINVE), and for PCARD transactions, especially where exceptions have been provided, changing the PCARD default expense account code on transactions fed from the BANK (FAAINVT).
      Thank you for your assistance in the past and your continued good work in the future. Please call us if you have any questions or would like additional information.
      You can reach us via email or by phone Stephanie Behan at 862-3570, Carol Main at 862-3184 or Jay Lamoureux , Manager of Disbursement Services at 862-4512.
      • Users that experienced problems querying FRIGITD.
      Banner Finance Users,
      The FRIGITD issue has been resolved.
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      Last Modified: 4/25/2012 6:28 PM
      Last Published: