FFF – December 4, 2020
1) 1099-NEC for Independent Contractors
The IRS has introduced the new Form 1099-NEC, a new form specifically for reporting independent contractor income (officially known as “non-employee compensation”). If you work with contractors, they likely will be receiving this form this year instead of the 1099-Misc. A copy of the form can be found here. If any of your suppliers have questions about the forms they are receiving they should talk with their accountant or check the IRS website for details.
2) Updated Payroll Calendars
The coming year’s monthly payroll calendars for weekly-/monthly-paid employees can be found here. These calendars contain pay dates, schedule adjustments due to University holidays and intersession, and time entry/approval deadlines for each pay period. Payroll coordinators, weekly submitters/approvers of hours, and new employees learning payroll schedules will benefit from these.
3) Amazon Business in Guided BUying
Amazon Business is now available as a catalog in Guided BUying. The preferred shopping method for Amazon Business is via Guided BUying, as this channel allows purchases to follow the same workflow as standard Purchase Requisitions (PRs) and streamlines the ordering and invoicing process. However, those who do not have the Requisitioner role in Guided BUying will still have access to purchase through the Amazon Business website using their P-Card as they do today.
Account Administrators: Account Administrators should direct Requisitioners who have access to Guided BUying to purchase through the Amazon Business catalog in Guided BUying. If Requisitioners in a group do not have access to Guided BUying, they can continue to purchase using Amazon Business directly through the website with their P-Card as they do today.
Requisitioners with Access to Guided BUying: Requisitioners with the shopper role in Guided BUying should purchase using the preferred channel, Amazon Business via Guided BUying.
4) Employees Working Outside the United States
Between “Learn From Anywhere”, the ongoing coronavirus pandemic, and any other number of reasons, we are aware that we have University employees who are currently (or will be) working internationally. Some employees do this because they can’t get to the US, and others because it is simply a safer choice for them. Please make sure that if this situation applies to someone in your department that you notify BUpay@bu.edu. It is crucial to make sure taxes and benefits are calculated correctly for these individuals.
If you have someone hoping to start for the Spring Semester (starting in January) we will need you to answer the following:
- Is there a plan for this individual to come to the US and by what date?
- What processes have they completed at this time to have credentials to come to the US?
- How long do you plan to employ this individual for?
- What is your plan if this individual cannot come to the US?
The reason for needing this information is that for any employee on our payroll that is not residing in the US, we must have a documented plan. We certainly understand that travel restrictions (along with other reasons) can impact even the most well-made plans, so we request that you please try to be as factual as possible in your responses to these questions.
5) PCard / Travel Card Transfer and Cancellation Forms
New forms are now available for individuals who need either to cancel their PCard and/or Travel Card, or to transfer them from one University cost center to another. The PCard form can be found here, and the Travel Card form can be found here.
Please note: for cost center transfers, these forms may only be submitted by the cardholder’s designated Cardholder Approver, or by their Dean of Finance, and that unauthorized submissions of these forms constitutes a violation of University policy, as well as PCard and Travel Card policies.