Spring 2011
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Recognized organizations have the autonomy and
responsibility to spend their MIT funds according
to MIT rules and regulations.
All funds within the group account are guaranteed by
MIT once deposited into MIT account.
Group funds cannot be deposited in non-MIT accounts.
Must be ASA recognized.
◦ … includes all student group funds outside of GSC Funding Board
or UA Finboard.
◦ …funds are easily accessible and carry over yearly.
◦ Additional accounts may be requested and are granted
on a case by case basis by SAO.
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$
$
$
$
Consists of UA Finboard or GSC Funding Board
allocated funds
Funds are “term specific”. They DO NOT
rollover beyond the funding term.
Student groups may only approach ONE
funding board per academic year.
Guidelines for spending are based on funding
board requirements as well as MIT Policy.
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Group treasurers must regularly monitor all account
activity.
The Treasurer makes sure group members and officers
know who the Financial Signatories are.
Treasurers should be aware of transactions processed by
other authorized Financial Signatories at all times.
SAO expects groups to confirm/validate account
transactions monthly.
Treasurer and financial signatories are expected to
adhere to good business practices, responsible for
managing accounts ethically and using Group funds
appropriately. Any odd or questionable incidents within
the group, should be immediately reported to SAO.
Access should be updated at the end of each fiscal year
Note:
Purchase Orders
MIT is a non-profit organization
and is thereby tax-exempt. MIT
Sales Tax Exempt Forms
should be presented when
purchasing materials for
student organizational business
use ONLY.
MIT Requisitions
If you are traveling outside
Massachusetts, please request the tax
exempt form for that state, 5 business
days out by e-mailing funds@mit.edu
Check Requests
Internal Transfers
Wire Transfers
Cash boxes
Deposits
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•Name of company
•Address of company
•Federal ID of company
•Phone
•Fax
•Selection of Source over 5k
•Description of Event
(Amount people /food/
entertainment/event timing)
•Itemized Quote
**This process is still
completed on paper!
A PO does not:
•Authorize checks. Separate
vouchers are required for
checks.
• The final and all invoices
need to be signed/approved
by a signatory.
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• This is a way to make a purchase without having to spend money
out of your pocket
•Look at Shop MIT web page for links to MIT internal providers
•Copy Tech
•Audio Visual
•Caterers on campus
•Endicott House
•Facilities (movers, electricians…)
•Mail Services
•E-Cat Purchases
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Who Can use this System?
◦ Individual Submitter
 seek a reimbursement (a payee)
◦ Student Group Treasurer Submitter
 create RFPs for reimbursements or payments
 review and create for self or others
◦ Approver (SAO)
 approve RFPs
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Payees
◦ May be MIT or non-MIT
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Signatories still have to sign off
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RFP needs to be sent electronically to the Treasurer
Once treasurer reviews it, they will send it to SAO
RFP’s should be sent to Catherine Hursh
Treasurers do not hit the “approve” button
All signatories still need to be listed in the ASA
Database
You may not approve your own RFP
Receipts must be scanned and attached to RFP
Original receipts with RFP # written on it has to be
turned in to SAO BEFORE RFP will be approved.
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Step One:
◦ Access SAPweb > Purchasing >
Requests for Payment (RFPs)
◦ Go to:
http://web.mit.edu/sapweb
◦ Select the Purchasing tab.
◦ Select:
 Reimbursement for non‐taxable
goods and services or
 Payment for taxable goods and
services.
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Payees may be MIT or non‐MIT. Non‐MIT payees who are not in the
system will require additional information on the RFP form.
1. Select MIT or non‐MIT
2. Enter the payee name and click Search.
3. Click the name from the Select Payee search results.
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If a non‐MIT payee’s name is not part of the search results you may
click Continue and enter the payee's information manually.
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A blank RFP form opens with the selected name as the Payee. Note
the Change Payee button.
RFP Required Information is Marked by an
Asterisk *
1. The Payee name is displayed. You may also
see a Change Payee button.
2. Assign a name – Group Name/Account
Number
3. If a permanent address is not already on file
you will be required to supply one. This is
for tax purposes.
1.
Enter Social Security or Taxpayer
Identification number. (not needed for
reimbursements)
1. If payee is not a US Citizen or Resident Alien you
are required to enter the Visa type and country of
citizenship.
2.
Mailing address will be entered
automatically from SAP records or from the
Tax Address entered in step 2.
1. You may choose to have a check delivered to an
MIT person at an MIT address or you can elect to
be called when the check is ready for pickup.
6.
7.
8.
9.
Enter Line Item information – G/L Account
and Cost Object may be left blank for
treasurer to complete. Enter the Amount of
all receipts. An Explanation is required.
Click to Add Line if costs are to be split
among multiple G/Ls or Cost Objects.
Add a Note to Central Office (optional) if
there is an MIT VENDOR already created for
the organization/person but it didn’t show
up
The Save and Continue button creates your
RFP record in SAP and assigns it a number.
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The dialog box shown at the
right will appear right after you
click Save and Continue. You may
choose cancel to attach receipts
at a later time.
To attach receipts:
Click the Attach Receipt button.
Click Browse and locate the file with your scanned receipts.
Click Attach to link the scanned receipts file to the RFP.
Click View Receipts on the RFP form to open attached files.
These may be viewed but not edited.
Note: You may attach receipt files at any point in the process.
-contracts should not be scanned, they should be put on file as
they are now (@ SAO) and place a comment in the notes
section on the RFP
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When an RFP is complete it must be sent to
the next person in the process. This is
essential to move the RFP to the next step.
◦ Submitters and reviewers may use the Send to
button to route the RFP to another individual –
another reviewer or an approver.
◦ An Approver (SAO) will use the Approve button to
send the RFP to Accounts Payable for final approval
and payment.
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Click the Send to button.
Enter the recipient’s name in the Search for
Recipient box.
◦ YOU SHOULD SEND THE RFP TO YOUR TREASURER
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From the list of results, click on the desired
recipient’s name.
Add any optional Note to Recipient.
Click the Send button.
 Treasurers should send RFP to Catherine
Hursh by e-mailing cahursh@mit.edu
If
it’s direct deposit the money will be in your
account the morning after the RFP is
approved
◦Please keep in mind no RFP will be approved until
the PAPER receipts are received
If check is being mailed, it will be sent
2nd business day after it was approved.
If
on the
check is coming to campus for mail/pickup it will be on campus on approximately the
2nd business day after being approved.
•Checks for donations to charitable organizations:
•Complete Student Activities Donation to Charity form
•Organization’s written mission statement
•Usually available on their website
•Organization’s name, address, phone, fax
•Not for Profit ID Number (Tax ID Number)
•Foreign organizations require additional approval
•All of this information should be used as the supporting
documents for the online RFP
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Wire Transfers
Internal Transfers
$ moves money/expenses
from one MIT account to
another
$
or
$ reclassifies an expense
within an account
$ Need to show original
expense being transferred,
on the transaction report
$
SAO can accept wire
transfers for a student
group’s main or
reserve account from
outside
companies/individuals
Contact
funds@mit.edu to
make arrangements in
advance.
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$
Financial Signatories should request a locked
cash box for events (when collecting cash or selling
items)
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$
Cash boxes include $40
Advanced notice is necessary when requesting
cash boxes
$ Please e-mail funds@mit.edu to request cash box
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Deposits can be made:
$
Bring deposit to W20-549- place in deposit box on wall
¢ Use SAO envelopes provided and keep the yellow copy
of the deposit slip for your records along with copies of
any checks
$
Make arrangements in advance for night or weekend
deposits using a coded SAO deposit bag and key
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Payroll
Special Contracts
TechCash Services
Additional Training Available For:
SAPWeb Reporting
Travel
E-Commerce Services
Fundraising/Sponsorship
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$
$
Groups use after approaching GSC Funding
Board or UA Finboard if they do not receive
sufficient funding for an event
Please see the Student Activities Office before
your group solicits funds from any MIT
department/lab/center.
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Any questions?
Concerns