travelnews: New Account Code for FY16 Airfare Purchases - A5020

[BAO news for travel administrators]

Good Morning -
A new prepay account code has been established for travel related purchases for FY16 - A5020.  This should make it easier for you to track and JV prepaid travel related expenses.
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This is a reminder about the appropriate accounts codes to use for charging airfare through our contract travel agencies as we approach Fiscal Year 16 and how to deal with the Service Fee charges.
When purchasing airfare for travel that begins after June 30, 2015, please use prepay account code - A5901 A5020.  When travel crosses both fiscal years, it is charged to the fiscal year that covers most of the business days of the trip.  Example: travel dates 6/27/15 - 7/10/15 use prepay account code A5901 A5020.  This applies to all UO funds including grant funds and charges made on UO procurement cards.
Airfare for current fiscal year travel charged with an airfare authorization form from one of the UO contract travel agencies before May 25th, 2015 is charged to Fiscal Year 15.  All charges processed through the contract travel agencies after May 25th, 2015 will be charged to Fiscal Year 16.
*** The Travel Agent Service Fee should be charged to the fiscal year the service was provided. In other words, if the ticket was issued today up to May 25, the service is in Fiscal Year 15 and will be charged to Fiscal Year 15. ***
Airfare for current fiscal year travel charged on a UO procurement card before June 25th, 2015 is charged to Fiscal Year 15.  Charges made after June 25, 2015 will be charged to Fiscal Year 16.
**  Each department is responsible for entering JV's to remove the prepaid expense and record the expense with the appropriate account code.**
Example JV:
To post the JV into the correct fiscal period use a transaction date that falls into the same month the travel occurs in.
Debit

Dept. Index

Expense account code - ex. 39515 Empl. Out of state travel

Activity Code

Credit

Dept. Index

A5901 A5020- Prepaid expense

Activity Code

  The JV's can be processed as soon as you see your airfare charges post (look under account code A5901  A5020).  The new Fiscal Year with all accounting periods is already open in banner.
If you have any questions, please call the Travel Office - Laurie x6-3158 or Conny x6-0812.

Laurie Jacoby, CTC
Travel Manager
Business Affairs Office
University of Oregon
lajacoby at uoregon.edu<mailto:lajacoby at uoregon.edu>
541-346-3158 - Voice
541-346-8078 - Travel Fax

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