Table of Contents
- Controller’s Office
- ARMICS Due dates
- Year-end calendar
- New Operating Lease Procedures
- Grants & Contracts
- Effort Reporting Updates
- Procurement Services
- FY23 Year End Schedule
- FY23 & FY24 P-Card Canvas Training and Test – Deadline Friday, 4/28
ARMICS Due dates
May 5th VPHS and Provost Units
May 26th Central Units
The FY23 calendar is posted on the Controller’s Office website. Highlights: The last day to submit a PHAREDS for FY23 is June 21st. Banner will be placed in query only mode at noon on June 30th.
New Operating Lease Procedures
Due to the new accounting rules for classifying leases, departments who currently pay operating leases will notice these expenses on a different general ledger account beginning in July 2023. Real Estate Services will continue to make the lease payments as usual but instead of hitting the index directly, the index will be billed for the charges.
How this will look different:
☐ Departments will see a journal entry for the base rent vs. an invoice being paid
☐ This charge will be on account 653359 (Space Usage) instead of accounts 637047 (Operating lease Building) or 637052 (Operating Lease Land)
☐ Transfers will be on accounts 653359 (Space Usage) or 653358 (Space Usage IDC)
What is staying the same:
☐ Amounts paid
☐ Charges other than base rent, will stay on the accounts that they are charged to today (e.g. operating costs)
☐ Qatar leases
Expense transfers to/from accounts 637047 Operating Lease Building and 637052 Operating Lease Land will no longer be permitted. If a transfer is required, accounts 653359 Space Usage or 653358 Space Usage IDC “No indirect Costs” are available. If you are transferring rent expense to a grant and do not know which space usage account to use, see your research administrator or grant accountant.
Tip: One time space usage, hotels, conference rooms, expense reimbursements are not operating leases. Refer to the account listing to choose the proper general ledger account.
Grants & Contracts
Effort Reporting Updates
The effort certification period for the Monroe Park Campus will close on April 30, 2023. Faculty, please log into ECC and certify your effort and project statements as soon as possible. Lastly, Faculty on the MCV Campus, please log into ECC at your earliest convenience to certify project and effort statements. The certification period for the MCV Campus will close on May 31, 2022. Please contact email@example.com if you need assistance or have any questions.
FY23 Year End Schedule
Please visit the Procurement Services Website for the FY 23 Year End Close Schedule located in document library here
FY23 & FY24 P-Card Canvas Training and Test – Deadline Friday, 4/28
The FY23 & FY24 P-Card Canvas Training and Test has launched on Canvas! All Cardholders and Approvers are required to complete the annual test to re-certify their compliance with the terms and conditions of the P-Card program.
Users must complete the training(s) and test(s) by Friday April 28th. Cardholder and/or Approver privileges are automatically suspended if this required training is not completed by the deadline.
- Log into Canvas using your VCU eID and password
- Click on the “Courses” tab in the navigation bar.
- Click on All Courses and Browse for More Courses
- Enter “P-CARD” for Corporate Purchasing Card (P-Card)
- Click “Search”
- Click Join this Course
- Click the “Enroll” button, and then click the Submit button on the following page to complete enrollment.