Student employees must be enrolled appropriately in order to be exempted from retirement and Medicare withholding taxes. There are three steps that occur prior to the start of each payroll:
Enrollment information is confirmed with the student system Flags to indicate that retirement and Medicare should be withheld are updated for those students identified as being under enrolled The account code segment of the chartfield is updated for under enrolled students from 60131 to 60135 60155 to 60156 (Work Study)
During biweekly pay period 22 (pay end date October 10th) and pay period 23 (pay end date October 24), the third step erroneously updated the account codes for student employees even when the student had been identified as enrolled. Student pay and retirement contributions were not affected. The issue was caught and corrected prior to the processing for pay period 24 (pay end date November 7). Read the full article for the steps being taken by the Controller's Office to remedy this issue.
The current auto-journal rules that were developed in Sungard to integrate with PeopleSoft are being replaced with a Rules Engine developed for Workday. As we prepare to go live with Workday in January, we are freezing changes to current auto-journal rules as well as requests for new rules on November 13.
For emergency merchant requests during the freeze period, contact Matthew Moore.4409 in Treasury Operations.
A university-wide deadline for moving balances out of the PCard clearing account (61206) is set for December 30, 2020 (coinciding with the final reallocation deadline in Peoplesoft). These balances represent unreconciled transactions on PCards assigned to the college/department units. It is critical that all charges in the PCard clearing account be reallocated to the appropriate expense account by December 30, 2020 in preparation for the implementation of Workday. The PCard Office will continue to monitor account 61206 to ensure that charges are being cleared.
As the fiscal year comes to a close, Journal Initiators and Approvers must check their worklists for journals that need to post to the current Fiscal Year (2020); this is especially critical for entries between Business Units.
Due to different year-end closing schedules among the three business units, it is imperative to adhere to the "post by" schedule described in the full article.
