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AFM Newsletter for December 16, 2021

Dec. 16, 2021

In This Issue:

Opt In to Electronic Only Receipt of W-2 Forms
TXShop Service to Be Phased Out
Submit Newsletter Feedback and Article Suggestions to AFM@austin.utexas.edu

Opt In to Electronic Only Receipt of W-2 Forms

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TXShop Service to Be Phased Out

Dec. 15, 2021

The askUS TXShop team has announced plans to phase out the TXShop service over the next four years. The University created the TXShop service over ten years ago to fill a campus need for an online payment and event registration service. In the years since, more modern solutions have become available and are increasingly being adopted by groups across campus.

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Opt In to Electronic Only Receipt of W-2 Forms

Dec. 15, 2021

Tax Year 2021 W-2 Forms will be available in Workday before the January 31, 2022 deadline. The University encourages all employees to opt in to electronic only receipt of their W-2 Form. Electronic receipt ensures secure and convenient delivery of the W-2 Form through Workday and helps reduce unnecessary paper usage. Opt in now by following these quick and easy steps.

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AFM Newsletter for October 28, 2021

Oct. 28, 2021

In This Issue:

13th Month for Fiscal Year 20-21 Now Closed
AFM Assists with Recent Real Estate Acquisitions
UT Launches New Single Use Virtual Credit Program
In Case You Missed It: Financial Reporting Resources to Save and Share
Submit Newsletter Feedback and Article Suggestions to AFM@austin.utexas.edu

13th Month for Fiscal Year 20-21 Now Closed

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UT Launches New Single Use Virtual Credit Program

Oct. 28, 2021

The Procurement and Payment Services team, in partnership with J.P. Morgan Chase, is launching a new method of supplier payment called the Single Use Virtual Credit Program (SUVC). The new payment type sends virtual credit card information to vendors replacing traditional check and ACH payments.

The SUVC program provides benefits for both the university and our vendors.

University benefits include:

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AFM Assists with Recent Real Estate Acquisitions

Oct. 27, 2021

Accounting & Financial Management is often involved in real estate acquisitions such as Dobie Twenty21 as well as privatized construction transactions like the Moody Center, Block 164 – Innovation Tower, Graduate Student Housing, and the WaterHub. Support from AFM is regularly provided by Treasury and Risk Management, Tax Services,

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13th Month for Fiscal Year 20-21 Now Closed

Oct. 27, 2021

The 13^th month for fiscal year 2020-2021 is now closed. The 13^th month is a virtual month that falls between the last month of the prior fiscal year and the first month of the new fiscal year. Accounting and Financial Management uses the 13^th month to complete year-end entries for reporting purposes. All 13^th month transactions are posted with DEFINE VJR documents and have a date of August 31^st. The closing of the 13^th month also signifies the completion of the Annual Financial Report.

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AFM Newsletter for September 30, 2021

Sept. 30, 2021

In This Issue:

Financial Reporting Resources to Save and Share
In Case You Missed It: Financial Fundamentals Self-Paced Course Now Available
Submit Newsletter Feedback and Article Suggestions to AFM@austin.utexas.edu

Financial Reporting Resources to Save and Share

In an effort to assist those in financial roles across campus, the askUS team recommends the three financial reporting resources below to save and share with others.

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Financial Reporting Resources to Save and Share

Sept. 29, 2021

In an effort to assist those in financial roles across campus, the askUS team recommends the three financial reporting resources below to save and share with others.