FAQs
- Banking and Deposits
- Credit Card Charges by Macalester
- Asset disposal or sale (vehicles, equipment, etc.)
- Fund Balances
- Pcard & Fraud, Phishing and Identity Theft Risk
- Reimbursement Requests — Macalester Employees
- Payments to Others
- Purchasing
- Using Banner Finance and Argos Reports to Monitor Budgets
- FOAPAL
- Finance Approvals Explained
Banking and Deposits
- Where can I obtain Macalester’s banking information?
- I am expecting a deposit to Macalester from an outside party. How can I find out if it has arrived and to which bank account it was deposited?
- Why do I need to record the daily deposit(s) our area receives?
Where can I obtain Macalester’s banking information?
What you need will vary by what you’re trying to do. Contact Associate VP for Finance or Director of Accounting. They are knowledgeable and authorized to share Macalester’s banking information. They will connect you with the right information for the task at hand.
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I am expecting a deposit to Macalester from an outside party. How can I find out if it has arrived and to which bank account it was deposited?
Contact Senior Accountant in Accounting. Senior Accountant reconciles all of Macalester’s bank accounts each month. Also has access to online banking systems that allows them to view daily account activity. If you’re expecting a deposit, senior accountant can help you locate it. Senior Accountant’s back-up for this type of inquiry is Director of Accounting.
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Why do I need to record the daily deposit(s) our area receives?
At the close of each monthly banking cycle, Macalester reconciles the activity in each account against the college’s internal records. This is an important part of our internal control practices. When you record deposits daily, it keeps our internal records in sync with the bank. That facilitates our reconciliation processes and also allows us to identify and resolve problems promptly. When activity from multiple days is batched, it can mask problems and/or complicate internal processing. It often combines transactions from two different reporting periods, a situation that requires the Accounting staff to research and manually peels the items apart and places them in the appropriate periods. Recording daily deposits eliminates this time-consuming step.
Credit Card Charges by Macalester
How can I find out why there is a charge from Macalester College on my personal credit card or someone else’s?
Contact Senior Accountant in Accounting, Senior Accountant reconciles all of Macalester’s credit card activity each month. Also can trace any charge by the college appearing on a cardholder’s account.
Asset Disposal or Sale (vehicles, equipment, etc.)
- Who should I talk to if I am considering disposing of a Macalester asset, e.g. vehicle, equipment, etc.?
- If I plan to sell a Macalester asset, who should I talk to about this and what should I do with the money I receive?
Who should I talk to if I am considering disposing of a Macalester asset, e.g. vehicle, equipment, etc.?
Contact Senior Accountant in Accounting. Senior Accountant maintains Macalester’s inventory of fixed assets. Also can provide guidance for appropriate steps to take when disposing of a college asset, regardless of methodology, e.g. sale, trade, recycling, demolition, trash, etc. Senior Accountant’s back-up for this type of inquiry is Director of Accounting.
If I plan to sell a Macalester asset, who should I talk to about this and what should I do with the money I receive?
Contact Senior Accountant in Accounting. Senior Accountant maintains Macalester’s inventory of fixed assets. Also, can provide guidance for appropriate steps to take to ensure a fair sale, set a reasonable sale price, identify necessary paperwork, (e.g. vehicle titles), etc. Senior Accountant can also explain the process for depositing the proceeds of the sale. Senior Accountant’s back-up for this type of inquiry is Director of Accounting.
Fund Balances
- How can I find out the balance available in a fund
- How can I find out how much is available to be spent from a specific endowed fund?
- What is my grant indirect fund balance?
How can I find out the balance available in a fund
Contact Senior Accountant in Accounting. Senior Accountant can share the available balance in any of the college’s funds and help you to get training on how to view this information yourself (assuming you are an authorized Banner Finance user). Senior Accountant’s back-up for this type of inquiry is Director of Accounting.
How can I find out how much is available to be spent from a specific endowed fund?
Contact Senior Accountant in Accounting. Senior Accountant handles the accounting for Macalester’s endowed funds. Also can share the available balance in a spendable endowed fund. Senior Accountant can also forecast the amount projected to be available under the terms of the college’s endowment spend policy. Senior Accountant’s back-up for this type of inquiry is Director of Accounting.
What is my grant indirect fund balance?
Contact Senior Accountant in Accounting. Senior Accountant can share the available balance in any of the College’s funds— including grant indirect funds. Also train you in how to view this information yourself (assuming you are an authorized Banner Finance user). Senior Accountant’s back-up for this type of inquiry is the Grants Accountant.
Reimbursement Requests – Macalester Employees
- Can I report a per diem when requesting reimbursement?
- When driving my personal vehicle for College business, should I submit gasoline receipt(s) or actual miles traveled when requesting reimbursement?
- What do I need to report if I’ve paid for someone else’s meals?
- Can my reimbursement check be deposited directly into my bank account?
- I lost my check! What do I do to get it replaced?
- Where is my check delivered?
- I haven’t received my reimbursement check, what should I do?
- My check has not arrived. Can I get a replacement?
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Can I report a per diem when requesting reimbursement?
No. Macalester reimburses employees on the basis of actual expenses, supported by receipts or other acceptable documentation.
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When driving my personal vehicle for College business, should I submit gasoline receipt(s) or actual miles traveled when requesting reimbursement?
Macalester College reimburses using the current IRS recommended mileage rate. The College does not reimburse for gasoline except when you are renting a vehicle. If you rent a van from Facilities Services, the reimbursement is handled by Facilities Services.
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What do I need to report if I’ve paid for someone else’s meals?
Per IRS guidelines, you should provide the following information for all dining expenses:
- The business purpose of the meal. Note: Meal expenses that lack a legitimate business purpose may be treated as a benefit, the value of which is reportable as taxable income to the cardholder.
- Event name (if applicable)
- Date(s)
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Can my reimbursement check be deposited directly into my bank account?
Faculty and staff members may have their Accounts Payable reimbursement checks and Payroll checks deposited directly into either their checking or savings account. To set up direct deposit login to 1600grand, complete the Direct Deposit Authorization.
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I lost my check! What do I do to get it replaced?
If someone loses their check, it should be reported to Accounts Payable. They will place a stop payment on the check in question. There is a $20.00 stop payment fee. Upon confirmation that the check has not been cashed, a replacement check will be issued in the next scheduled Accounts Payable check run.
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Where is my check delivered?
If you have direct deposit set up, your payment will be deposited to your account. If you are a student and you do not have direct deposit set up, your check will be delivered to your campus post office box (SPO). Faculty and staff who do not have direct deposit will receive their checks via the US Postal service to the address on file.
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I haven’t received my reimbursement check, what should I do?
If you have waited ten (10) days since the request and you have not received your check, please contact Accounts Payable.
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My check has not arrived. Can I get a replacement?
Our policy is to wait ten (10) business days for mailed checks to be delivered. If, after ten (10) business days, the check has not arrived, we will place a stop payment on the check. Upon confirmation that the check has not been cashed, a replacement check will be issued in the next scheduled check run.
Payments to Others
- How do I submit an invoice to be paid by Accounts Payable?
- How soon will someone be paid if I submit the invoice today?
- What do I need to do to pay someone via wire transfer?
- Why wasn’t my payment request processed this week?
- Where do I name the payee/ person being paid?
- What is a Stipend?
- What is the importance of 1099 reporting and W-9’s?
How do I submit an invoice to be paid by Accounts Payable?
Details on how to submit an invoice to Accounts Payable
How soon will someone be paid if I submit an invoice today?
Payments are processed every Thursday and disbursed the following Friday. Payment requests must be submitted to Accounts Payable at least two weeks prior to the bill’s due date to guarantee on-time payment. Holidays or incomplete information/approvals may delay processing time. See How to Submit an Invoice to be paid.
What do I need to do to pay someone via wire transfer?
Contact Purchasing and Accounts Payable Manager. Initiates outgoing wire transfers paying for goods and services authorized by the college. Also can assist you with the information required and associated fees to pay via wire transfer, both domestically and internationally. The back-up for this type of inquiry is Associate VP for Finance.
Why wasn’t my payment request processed this week?
Accounts Payable receives a high volume of payment requests. The most common reason a payment is not processed when expected is that the item(s) did not reach our office in time, or was delayed due to incomplete information. Payment requests must be submitted to Accounts Payable at least two weeks prior to the bill’s due date to guarantee on-time payment. Holidays or incomplete information/approvals may delay processing time. You can reach out to [email protected] with any questions.
Where do I name the payee/person being paid?
The most common reason a payment is not processed when expected is that the item(s) did not reach our office or was not approved by our Thursday deadline. Items received or approved by 4:30 p.m. on Thursday are processed the following check run— typically the following Friday.
What is a stipend?
A fixed and regular payment, such as a fee for services rendered.
What is the importance of 1099 reporting and W-9’s?
Macalester College is required by the IRS to report any payments for services performed by a trade, business, or individual not treated as employees. Examples of these types of payments are: honoraria, gifts, donations, or fees for services rendered. Before a check can be processed, a Taxpayer’s Identification Number (TIN) or a Social Security Number (SSN) is required along with the legal name and a current address. Failure to provide a TIN or SSN will delay the check writing process or could require backup withholding of 28 percent Federal taxes. Withholding tax does apply even when the amount of the payment is below the IRS reporting threshold of $600.
Purchasing
- Who do I call with a question about invoices or purchase orders?
- When do I need a purchase order?
- How can I find information about discounts Macalester qualifies for?
Who do I call with a question about invoices or purchase orders?
Invoices— Payables Specialist
Purchase Orders— Payables Specialist
When do I need a purchase order?
Macalester recommends purchase orders for major purchases, classified as goods or services valued at $10,000 and over. These can be lump sum purchases or a series of payments totaling $10,000 or more associated with a single project. For further information, download and review When to Use a Purchase Order (PDF)
How can I find information about discounts Macalester qualifies for?
Please see the list of consortium discounts in the Contracts, Purchasing and Discounts section of the Policies, Guidelines and Resources page.
Using Banner Finance and Argos Reports to Monitor Budgets
- What is my Banner log-in
- How do I log on to Argos?
- When are Banner/Argos training sessions so I can review my budget and learn how to review my department’s expenditures?
- What if I have a question about which account code (FOAPAL) to use?
- What are accounts 7171xx about?
- Should I be using location codes?
- How do I correct an invoice that was posted with an incorrect FOAPAL?
What is my Banner log-in
There is no separate log-in for Banner. Your 1600grand log-in grants you access to Banner.
How do I log on to Argos?
See the resources available in the Argos Financial Reporting Training section of this website.
When are Banner /Argos training sessions so I can review my budget and learn how to review my department’s expenditures?
Training is provided 1-to-1 on an as-needed basis at a mutually convenient time. It can be held in your office or in the training lab 302 Humanities. Contact Business Services Systems Manager to sign up.
What if I have a question about which account code (FOAPAL) to use?
Download the Finance Expense Account Code Descriptions (gDoc) for more information on account codes. If you don’t find or understand what you need, call or email Senior Accountant.
What are accounts 7171xx about?
These accounts are allocations of expenses. They are used when a department’s charges reflect more than a specific type of charge— the charges aren’t the exact cost of the item; the charges include a variety of things besides the actual item.
Should I be using location codes?
As a rule, NO— unless you are working with Facilities Management on a project involving a specific building. Location codes are intended for large-scale projects or equipment over $10,000.
How do I correct an invoice that was posted with an incorrect FOAPAL?
This can be corrected by downloading and completing a Journal Entry (XLS). Contact Senior Accountant for assistance.
FOAPAL
- What is a FOAPAL?
- How do I request a new FOAPAL or ask for a change to an existing FOAPAL?
- What FOAPAL should I use for a specific invoice or expense?
- What does the “M” in the Chart field mean?
What is a FOAPAL?
FOAPAL is a combination of numeric elements used to classify financial transaction for capture and reporting. Specifically:
Fund
Organization
Account
Program
Activity
Location
Each element of the FOAPAL plays a different role:
Fund— A required six-character code used to specify the funding source— WHERE the money comes from or goes to. Each grant in Banner is assigned a separate fund code to identify the funding source. Each fund identifies a self-balancing set of accounts and identifies ownership and restriction.
- This code is required input in Banner (Macalester’s Finance and Accounting system) for all accounting transactions.
- 100000 is the code for the operating/ program / general unrestricted fund.
- This code is a required input in Banner for revenue and expense transactions.
- If you’re unsure of your Banner organization code, please call Accounting to help you with it.
Organization— A required six-character code used to identify the organizational unit that is responsible for financial activity captured within the code. It identifies your department. It defines WHO is processing transactions.
Account— A required six-character code used to classify revenues and expenditures by type and spending categories. It defines WHAT kind of revenue you are depositing, or for what you are spending funds. Note, that within the Pcard Reconciliation tool (Wells Fargo), Account is called “General Ledger Code”.
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- This code is required input in Banner for all accounting transactions.
- 5xxxxx – Revenue Finance Revenue Account Code Descriptions (gDoc) Choose an Account code from this list to complete the AAAAAA if you have REVENUE to code.
- 6xxxxx – Payroll and fringe benefit expenses
- 7xxxxx – General expenses Finance Expense Account Code Descriptions (gDoc) Choose an Account code from this list to complete the AAAAAA if you have an EXPENSE to code.
Program— A required two-digit code that is used to identify the major purpose of expenditures. Defines WHY you are collecting or spending the funds. This is an additional identifier for your department. Program codes accumulate expenditure information into major categories such as instruction, research, and academic support. They are required in order to meet external reporting requirements. This code is assigned by Accounting and is a required input in Banner for revenue and expense transactions. Most organizations have a default Program code associated with it. For the most part Program codes will default from the Org. Revenues are always program code 99. For expenses, if you are unsure of which program code to use, please check with Accounting.
Activity— An optional four-character code used to group all costs associated with a specific event or major activity. The Activity Code can be selected by the employees managing a FUND / ORG and a code can represent an activity. Activity Codes can be assigned to track specific transactions involving multiple organizations or funds that share responsibility for a common event or activity. For more information about Activity Codes go to Activity Codes.
Location— An optional four-character code used to specify the physical location of an asset or transaction. It enables the college to establish reporting by physical location. This code will be used mostly by Facilities Management & High Winds to track fixed assets. This code must be set up in Banner by Accounting prior to use. As this is an optional code, transactions with an invalid location code will be posted without it.
How do I request a new FOAPAL or ask for a change to an existing FOAPAL?
Contact Director of Accounting in Accounting. They are the guardian of Macalester’s chart of accounts. If a new FOAPAL is needed or a change to an existing FOAPAL is warranted, they will work with you to get things set up promptly and correctly. Typically, a new FOAPAL can be operational within three (3) business days of your request. The back-up for this type of inquiry is Associate VP for Finance .
What FOAPAL should I use for a specific invoice or expense?
Contact Director of Accounting in Accounting. Director of Accounting is the guardian of Macalester’s chart of accounts. He can quickly provide guidance about the correct FOAPAL to use. The back-up for this type of inquiry is Associate VP for Finance
What does the “M” in the Chart field mean?
“M” is Macalester’s Chart of Accounts code.
Finance Approvals Explained
Learn about Finance Approvals – Pcard Approvals and Accounts Payable (AP) Approvals.