Controller's Office -General Accounting Cash Advances And Prepaid Card .
Controller’s Office – General AccountingCash Advances and Prepaid Card ProgramMarch 2022
Today’s Agenda Supplier set up How to Request a:– Cash Advance– Cash Advance Settlement– Team Travel Advance– Grant Cash Advance Types of Prepaid Cards Benefits of each Prepaid Programs How to Request a Prepaid Card How to Reconcile a Prepaid Card Resources and Contacts
Supplier set up Required Each recipient of a cash advance must beset up as a Cash Custodian EmployeeSupplier in the Supplier File in advance ofthe payment. Use the navigation below to search theSupplier File.Main Menu Suppliers SupplierInformation Add/Update Review Supplier Change the “ID Type” to “Employer IDNumber”, enter USC ID Number andsearch.
Supplier Not Found If your supplier is not found, it must be added bycompleting the Cash Custodian Employee SupplierForm on the Controller’s website. Email the completed form toAPSupplr@mailbox.sc.edu
Timeframe for Supplier Set Up Suppliers are set up as received– Usually within 3 business days onceappropriate documentation is received.– Change the “ID Type” to “Employer IDNumber”, enter USC ID Number and search.– The navigation is:Main Menu Suppliers Supplier Information Add/ Update Review Suppliers
Steps to Request a CashAdvance Each individual requesting a cash advancemust be submitted separately at least 7 –10 days in advance. Complete the Request for Cash Advanceform.– All information and justification to support theCash Advance payment must be included onthis form.– The form and supporting documentationshould be scanned in order to get attached tothe Payment Request.
Location of CashAdvance Request andSettlement FormsThe website link ishttps://www.sc.edu/about/offices and divisions/controller/general accounting/accounts payable/index.php
Sample Request for CashAdvance Form
Steps to Request a CashAdvance Cont’d Submit a Payment Request in PeopleSoft.– Main Menu Employee Self Service Payment Request Center– Use Account code 10204 for cash advances andgift cards.– Be sure to include any special instructions, suchas Hold for Pick Up in the Comments section ofthe Payment Request.– Attach the completed Request for Cash Advanceform to the Payment Request. Once the Payment Request is approved thepayment will be created by Accounts Payable.
Steps to Complete a CashAdvance Settlement All cash advances must be settled within 30days of the ending period for which theadvance was issued. The custodian of the funds must complete aCash Advance Settlement form and supply therequired documentation. When completing the form ensure that you:––––Use correct account code 10204 for cash and gift cards.Attach all receipts.Provide a list of participants in the program (if applicable).Provide a list of all gift card recipients. (If the total amount perparticipant is expected to be more than 600 for the calendaryear, the department must retain a W-9 for each gift cardrecipient.)
Sample Cash AdvanceSettlement Form
Steps to Complete CashAdvance Settlement Cont’d Ensure remaining funds are depositedwith the Bursar’s Office using the Depositprocedures in PeopleSoft and AccountCode 10204. Be sure to include the DepositTransmittal form. Email all the items mentioned to:cashadvc@mailbox.sc.edu
Team Travel Advances The steps for requesting Team TravelAdvance are the same as the regular cashadvance, the only difference is the AccountCode on the Request form, PaymentRequest and Settlement form. Use Account code 10205. The Settlement process for this type ofadvance is also the same.
Grant Cash Advances The steps to request a cash advance froma grant are the same as a regular cashadvance. The only difference is theAccount Code on the Request form,Payment Request and Settlement form. Use Account code 10203 instead. The Settlement process for this type ofcash advance is also the same.
Types of Prepaid CardPrograms Participant Card– Participant Anonymous– Participant Registered Business Expense
Items Below Apply to allCard Programs: Cardholder must have US address.International Transactions incur 3% fee.Open card orders must be partially or fully settled priorto subsequent requests.Cards are subject to suspension by Bank of America'sfraud prevention services. In such cases, cardholdermust call BOA at number on back of card immediately forreactivation.The department is responsible for maintaining W-9s fromparticipants where total payment in any form, includingcards, is expected to exceed 600 per calendar year. (seeprocedures)Participation by USC employees is highly discouraged. Ifparticipants are USC employees, all payments must bereported to Payroll for inclusion on the employee’s W-2.
Participant Card ProgramOverview Prepaid debit cards are issued through Bankof America The cards can be loaded with values 5 - 100 Participants can register their cards onlineto protect funds if cards are lost or stolen
Prepaid Card gisteredCard Description and DetailsTo pay program participants a one-timepayment: Program participant - card does not haveto be registered with the issuing bank Funds belong to participant and cannotbe unloaded 3-5 day lead time, no withdrawal option,not reloadable, and maximum requestamount of 100 per participantTo pay program participants a one-time orrecurring payment: Program participant - cardholderinformation has to be provided to theController’s Office Funds belong to participant and cannotbe unloaded Card is personalized 7-10 day lead time, has a withdrawaloption, it is reloadable, and maximumrequest amount of 100 per loadAccount CodeRequired DocumentationPrepaid19010Card Orders:Participant Card Request FormIf research, IRB letter ment:Proof of card distribution toparticipantsCard Orders:Participant Card Request FormIf research, IRB letter requiredSettlement:Proof of card distribution toparticipants
Benefits of theParticipant Card Program No need for cash advances No activation or card fees to thedepartment PeopleSoft supplier set up no longerneeded Cards can be loaded for any amountneeded (up to 100) Orders processed within 3-5 days foranonymous, and 7-10 days forregistered
Requesting ParticipantCards Complete Research Participant Card Request Form Include IRB approval Email form and IRB approval to:cards@mailbox.sc.edu Allow 3-5 days for processing You will receive an email when requested cards areloaded and ready to be picked up Please order conservatively; cards cannot bereturned*Please bring a bag or small box with you, if possible, for transportingcards.
Research Participant Card Request
Tracking Participant CardInventory You will be responsible for keeping track ofwhich cards have been issued and to whomfor clearing prepaid Cards must be stored in a secure location You will receive a list of cards identified byProxy ID to aid in identifying and settling Cards cannot be returned to the Controller’sOffice
Settling the Participant Card Orders should be settled within 90 days ofthe request If program extends beyond 90 days, partialsettlement should be submitted every 90days Submit signed card log or payment receiptsto cards@mailbox.sc.edu
Participant Card SampleSettlement Log
Participant Anonymous Card Envelope
Business Expense ProgramOverview Prepaid debit cards are issued through Bank ofAmericaThe cards can be loaded with values up to 10,000This card can be used for educational programs,participant electronic gift cards, and athletic perdiemsCards can only be issued to employeesRemaining funds can be unloaded by theController’s OfficeCards can be retained/reloaded for future requestsBE card cannot be used for individual travel or anypurchase subject to procurement
Business Expense Card MatrixCardProgramBusinessExpenseCard DescriptionCard DetailsTo advance funds for: Educational programs(e.g. study abroad,summer programs, etc.) Participant electronic giftcards (e.g. Amazon,mTurk, etc.) Athletic per diem Employees only Funds belong to USC andremaining funds can beunloaded Card is personalized 7-10 day lead time, has awithdrawal option, it isreloadable, andmaximum requestamount of 10,000 9011Card Orders:Business Expense CardRequest FormExpenseVaries per ChargeSettlement:BE Card Settlement FormFood Memo required foracct code 53005Receipts
Benefits of the BusinessExpense Card Program No need for cash advances No activation or card fees to thedepartment PeopleSoft supplier set up no longerneeded Orders processed within 7-10 days Cards are embossed with employee’sname
Requesting BusinessExpense Cards Complete Business Expense Card RequestForm Include IRB approval (only if using the BEcard for participant cards) Email form and IRB approval to:cards@mailbox.sc.edu Allow 7-10 days for processing You will receive an email when requestedcard is ready to be picked up
Business Expense Card Request
Settling the BE Card Complete and submit the BE Settlement form Needs to be settled within 30 days of theending period for the request Include all receipts and documentation (e.g.vendor receipts, list of participants inprograms, list of gift card recipients, etc.) Include original signed BE Request Form A food memo must be submitted if usingaccount code 53005 Send forms and all backup tocards@mailbox.sc.edu
Business Expense Card Settlement Form
Where to Find the ResourcesReferenced in this PresentationController’s Website – General Accounting – Webinars andTraining:http://sc.edu/about/offices and divisions/controller/
Contact Information
Questions
Steps to Request a Cash Advance Each individual requesting a cash advance must be submitted separately at least 7 - 10 days in advance. Complete the Request for Cash Advance form. -All information and justification to support the Cash Advance payment must be included on this form. -The form and supporting documentation
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