Budget Manager Meeting January 14, 2016 DePaul University Accounts Payable Whats New Whats Happening Now A Few Reminders Q & A IRS CY Processing & Reporting Deadlines: January 31 st & April 30 th Image Now Electronic Filing & Storage Went live July 1 st Departments with Image Now access (scan & approve) Accepting scanned documents / electronic copies International Initiatives Per Diem Method of Reimbursement Simplified W-8BEN E Travel-Related Account Code Usage Guide AccountDescriptionTypical Use Room/Board Expense Expenses incurred for students lodging abroad. Record expenses incurred by faculty, staff, and guests to travel / Travel - Foreign Transportation, lodging, meals (self only), admission fees (e.g., museum) and incidental expenses incurred while traveling outside of the U.S. for University business WorkshopsStudent study abroad seminar and workshop fees. (VAT) Value Added Tax Awareness (Hotels, Flights, & Meals) Factors The country requesting the refund They type of good / service Timely filing of claims VAT- Registration of Requestor AustriaBelgiumBulgariaCroatia CyprusCzech RepublicDenmarkEstonia FinlandFranceGermanyGreece HungaryIcelandIrelandItaly LatviaLithuaniaLuxembourgMalta NetherlandsNorwayPolandPortugal RomaniaSlovak RepublicSloveniaSpain SwedenSwitzerlandUnited Kingdom Discontinued Rush & Late Submission Fees IRS Reg (g)(2) lists safe harbor time periods An advance made within 30 days of when an expense is paid or incurred, and expense substantiated to the payer within 60 days after it is paid or incurred, or an amount returned to the payer within 120 days after an expense is paid or incurred will be treated as having occurred within a reasonable period of time. New BMII Training Tax Withholding vs. Backup Withholding US Persons vs. Non-US Persons U.S. vs. Foreign Sourced Income Proper Invoice Support / Correct Forms Missing Receipt Form Gift Authorization Form Wire Transfer Form vs. ACH payments Payments are issued on Wednesdays