AFM News

In This Issue:

• Accounting and Financial Management Guidance and Updates
• Announcement Regarding Vouchers Related to COVID-19
• Temporary Changes to Mainframe Printing
• In Case You Missed It: Upcoming Financial Systems Training Revealed (Updated Schedule)
• Submit Newsletter Feedback and Article Suggestions to AFM@austin.utexas.edu

Accounting and Financial Management Guidance and Updates

AFM is looking to track expenses and losses related to COVID-19 for insurance purposes. This includes communication expenses, reimbursements, waived fees, additional supplies, etc. We ask that submitted vouchers related to COVID-19 include “COVID” in each transaction line and not just the voucher description. Madison Leach, a Financial Officer in AFM, will be leading this project and if you have any questions please contact her at m.leach@austin.utexas.edu.

1099-MISC and 1042-S tax forms are now available to claim online for individuals with high assurance UT EIDs.

1099-MISC tax form reports miscellaneous payments to non-employee US residents and independent contractors. The 1042-S form reports scholarship, cash prize and other income payments to nonresident individuals. 

In This Issue:

• Upcoming Financial Systems Training Revealed
• Payment Options for CSUs Reviewed
• Workday Financials Training Website Renamed to Job Costing
• In Case You Missed It: New Allocation Details Tool Now Available
• Submit Newsletter Feedback and Article Suggestions to AFM@austin.utexas.edu

Upcoming Financial Systems Training Revealed

To prevent confusion with other UT systems, the Financials training page on the Workday website was renamed to Job Costing. The page also received edits to archive outdated material and highlight relevant material.

Accounting and Financial Management and Enterprise Business IT Solutions (eBITS) are facilitating a new series of Financial Systems Training. Each session will be held in the AVAYA Auditorium (POB 2.302) and will also be livestreamed. The class schedule is as follows:

A recent presentation to the Council of University Business Officers (CUBO) reviewed the options available to receive payments for events, sales, conferences and more. Payment options currently include cash and check, automated clearing house (ACH), wire transfers and credit cards.

The presentation focused on credit cards and their methods for acceptance which include the following:

In This Issue:

• New Allocation Details Tool Now Available
• 2019 Tax Forms Available Starting Late January
• In Case You Missed It: Now’s the Time to Opt Out of Receiving Paper Tax Forms for 2019
• Submit Newsletter Feedback and Article Suggestions to AFM@austin.utexas.edu

New Allocation Details Tool Now Available  

For updated information on 2019 Tax Forms, see the article 2019 Tax Forms Now Available.

Allocation Details provides allocation amounts for salaried employees that can be viewed by EID, account number, and unit. It combines Workday compensation plans, costing allocations, scheduled weekly hours, payroll actuals and encumbrances with unit data from DEFINE. Similar legacy information is provided for September – October 2018. It also provides the ability to download the data in Excel in small, medium, and large data sets.