FAS Fiscal/Payroll Reminders: W-9s, New Hire Form, 60 Day Window

Post date: Jan 8, 2015 8:43:16 PM

Dear Administrators,

I hope everyone had a fantastic holiday break. I am writing to share 3 important reminders about FAS Fiscal/Payroll procedures. Thank you in advance for your help with the below procedures as your compliance significantly improves processing times.

1. W-9 Forms: Many departments continue to forget to submit W-9 forms to Accounts Payable when necessary (see form attached). A W-9 is required to issue a payment to a vendor or person who does not have a prior record with Accounts Payable. For example, an honorarium payment to a new guest speaker requires a W-9 form. Neglecting to submit a W-9 form will cause delays with the payment.

2. New Hire Form (Revised): Many departments continue to use an outdated New Hire Form. Please use the attached revised form for all new hires as it includes a field for the employee’s NetID. As a reminder, you may not be able to complete the employee’s NetID when submitting the form to Payroll, but the field acts as an important placeholder for us to eventually add it as we process the hire. The NetID is required for the new hire to access benefits and other systems.

3. 60 Day Window for Reimbursements: NYU’s Controller’s Division recent revised the policy for reimbursements. To qualify for reimbursement, “expenses incurred by employees must have a business connection, the individual must adequately account to the University for these expenses within a reasonable time (60 days) and the individual must return an excess reimbursement or allowance within a reasonable time (60 days). If all three conditions are met, the reimbursement can be excluded from the individual’s taxable income.” The Controller strictly enforces these guidelines so please make every effort to comply.

Thanks,

Joe