AFM News

Electronic copies of Form W-2 and Form 1095-C will be available in Workday. By default, you will receive both electronic and paper copies. Unless you opt out of receiving it, the paper copy will be mailed to your home address. To opt out of receiving a paper copy of your tax forms via mail, please log into Workday and change your printing elections for both W-2 and 1095-C forms. Instructions for accessing your tax forms and opting out of printing can be found on the Workday@UT website.

Accounting and Financial Management, along with the rest of the University, will be closed during Winter Break from December 23 – January 3. Some parts of AFM will be open on certain days to offer services to employees. The Payroll Office will be open Thursday, January 2 from 8:30 a.m. – 4:30 p.m. so monthly paid employees can pick up their paychecks. During University skeleton crew days, banking staff will be available to check emails until 1 p.m.

The 13^th Month for fiscal year 2018-2019 closed as of October 29, 2019.  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.

In This Issue:

• Account Request Forms Updated to Include Workday Incidental Accounts
• 13^th Month for Fiscal Year 18-19 Now Closed
• In Case You Missed It: Guidance for Prior Fiscal Year Funding Changes Now Available
• Submit Newsletter Feedback and Article Suggestions to AFM@austin.utexas.edu

Account Request Forms Updated to Include Workday Incidental Accounts

Account request forms have been updated to include the ability to request Workday Incidental Accounts. Incidental accounts are used for incidental costs such as University ID cards or background checks. These forms are used to request the creation of new budget groups (both Educational & General and Non-Educational & General).

In This Issue:

• Guidance for Prior Fiscal Year Funding Changes Now Available
• Encumbrances – Things to Remember
• Improvements Made to the Workday Job Costing Tool
• Workday and Changes to UTemp VT5 Documents
• In Case You Missed It: Additional Features Available for GB2 Reports
• Submit Newsletter Feedback and Article Suggestions to AFM@austin.utexas.edu

Guidance for Prior Fiscal Year Funding Changes Now Available

Prior to Workday, UTemp VT5 documents showed charges for both the salary and surcharge for UTemp employees. With the implementation of Workday, UTemp salary is now charged directly to the department via payroll and is shown in DEFINE on VP4 documents, with only the UTemp surcharge transactions included on the VT5 document. The surcharge (VT5) and salary (VP4) transactions are now linked and the EID, pay period, salary amount paid, and the payment date are now included as a comment on UTemp VT5 transactions.

A new version of the Workday Job Costing Tool is now available on the Workday Financials Training page. It has instructions that emphasize the fields that must be completed in order to calculate amounts in the header. The Job Costing Tool is designed to estimate compensation charges and resulting costing allocation distribution percentages or amounts based on Workday’s payroll actual calculations.

Below are some reminders about key details and functionality related to encumbrances as a refresher.