September, October, November 2005 Edition Page 6

Accounts Payable Updates

Payroll Account Report Payment Scheduling 

As reported by Michael Glisson in May, all local fund vouchers are automatically scheduled to pay immediately.  All state fund vouchers with a total amount of $5,000 or less are automatically scheduled to pay immediately. State vouchers over $5,000 will continue to be scheduled 30 days after the later of the goods/services received or invoice received date, as required by the Texas State Comptroller's Office.

Prompt Payment Interest Rate Effective September 1

The Notice to State Agencies FM04-53, found at http://fmx.
cpa.state.tx.us/fmx/notices/fm04/fm04-53.php, reports how the prompt payment law interest rate due to a vendor is determined each year. Beginning September 1, 2005, the annualized percentage rate will increase from 5% to 7.25% for both state and local vouchers.

Within the past 3 months, all vouchers paid from fund 5 cost centers (sponsored grants and contracts) are automatically set to not pay late interest. Vouchers paid for by fund 1, 2, 3, 4, 7, and 9 cost centers will continue to automatically calculate interest.

Entering Purchase Requisitions

When entering the account number on a purchase requisition, please double check to make sure it is the correct one.  The job aid to search for account number by description is: 84 Search for Chartfield by Description.doc, and it can be found on the P drive, AllUHV/PeopleSoft 8.4 Job Aids.

 What's new with PeopleSoft Financials?

Check out the “almost completed” UHV PeopleSoft Website located at http://www.uhv.edu/peoplesoft/).   Three of the four navigation areas on the left are complete  “Information”, “Sign Up,” and “Log Into.”  The links to Job Aids are being worked on; although, most of them are finished.

Saving the 1074 Verification Excel File

Please make sure that you have changed the “Save as type:” from “XML” to ‘MicroSoft Office Excel Workbook (*.xls)”  XML defaults in the text box for this field;  changing it will ensure that you save the file as Excel file.

Running the 1063 report

Please make sure that you have a check mark in the box for “Limit Results to Current Budget Ref”.  This will give you information only for the current fiscal year only and does not include any prior years’ balances.

Voucher Comments

Please ensure that you have entered all the required information into the voucher comments field; and to enter as much information as possible. This will aid in auditing, and, possible research needs later on.

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