FFF – November 5, 2021
1) Expiring PCards and Travel Cards
In the next few months, a large number of PCard and Travel Card holders will have their cards expiring. In order to ensure that the replacement cards are received, it is important for all cardholders to confirm that their University office addresses are up to date in BUworks. This can be done by going to BUworks, selecting the Employee Self-Service tab, Personal Information, then Office Address, and making any necessary updates to the cardholder’s information.
2) Foreign Nationals - Taxation
International faculty, staff, and students who will receive compensation through the BU Payroll Office are requested to provide their information through the Foreign National Information System (FNIS) website and submit copies of their documents to determine their U.S. tax residency status and any applicable tax exemptions. Also, through FNIS, international employees and students will be able to access, retrieve, and elect to receive their 1042-S form (s) electronically. To log into the Foreign National Information System (FNIS) website, please contact the Payroll Office at email@example.com to receive your FNIS username and temporary password.
IRS Form 1042-S is a year-end tax document issued by Boston University no later than March 15th to international students who received wages under tax treaty benefits, non-qualified scholarship/stipend, and/or scholarships that exceed tuition and required fees. International scholars, faculty, and staff who received salaries under tax treaty benefits will receive Form 1042-S. Foreign nationals should make sure that they receive their Form 1042-S for tax filing purposes.
3) Upcoming Training Content
P&PS is currently working on creating a large new library of training videos, Service Now knowledge articles, etc to serve as a resource for BU community members who could benefit from guidance on various financial activities. These will include information on best practices, how-to guides, tips & tricks for streamlining processes, and much more.
If there are any specific topics for which you’d like to see new/expanded training, whether for your own use or to benefit colleagues, please feel free to contact me at firstname.lastname@example.org with your requests. The goal of this project is to streamline and simplify as much as we can, both for our offices and the broader BU financial community, so we would greatly benefit from knowing specific areas where our end users and administrators could use more information.
Thank you in advance for your submissions.
4) Micro-Purchase Threshold Increase for Sponsored Research
Effective July 2021, the Micro-Purchase threshold for Sponsored Research purchases has been increased from $10k to $25k. Please click here for more information.
5) Approve Invoices in Ariba
In order to ensure prompt invoice payments for Purchase Requisitions made in Ariba Guided BUying, it is necessary that all parties responsible for approving invoices are doing so in a timely manner. Training materials for these (and other) processes can be found here.