UBCO Finance News

HSBC Canada transition to Royal Bank of Canada – Deposit Bags Update

As part of the HSBC Canada transition to RBC, grey coloured tamper-proof deposit bags will no longer be accepted after March 28, 2024 when HSBC Branches are permanently closed. Please note, HSBC Branches will be officially closed on Thursday, March 28, 2024 at noon and will no longer accept deposits until they are re-opened as RBC on April 1rst.

After March 28th all physical deposits must be sealed in the new green coloured tamper-proof deposit bags for drop off.

Green coloured deposit bags have been ordered from RBC and have arrived at the UBC Bookstore. Please return any unused grey deposit bags to the Bookstore for their secure disposal.

At this time, please request the new green bags from the UBC Bookstore on a priority basis, and additional green bags will arrive in the coming months. The regular process should be followed to obtain replacement bags. Learn more on the Finance website.

PREPARE FOR 2023/2024 FISCAL YEAR END

In preparation for the fiscal year-end, please consider the following deadlines to ensure goods and services expenses are recorded, approved, and/or canceled in the fiscal year.

Credit Card Reconciliations and Out of Pocket Expenses

  • All expense reports must be approved by budget owners by March 28th at 2:30 pm

Supplier Payments

  • Deadline for supplier invoice approvals is March 28th, 2:30pm. All supplier invoices must be approved by budget owners to be included in this fiscal year.
  • Goods and services must be received in Workday and all match exceptions resolved

Purchase requisitions / Purchase Orders

  • Submit requisitions as soon as possible.
  • Review status of Requisitions and Purchase Orders. Any status other than “issued” or “closed” may result in them being manually force-closed at year end.
  • Requisitions & Purchase Orders with the status “In Progress” must be approved by the budget owner in Workday by March 27, 5:00 pm.
  • Refrain from creating new requisitions in Workday during March 28 and April 3, if possible.

If you will be out of the office, be sure to set up your delegations in Workday to enable a colleague to initiate and/or approve tasks on your behalf in your absence.

For more information on year end deadlines and procedures, visit Finance’s website.

Finance Kudos Feedback

 

Give your Kudos here!

Notice about Brinks Pickups

Notice to all departments who make non-tuition deposits on campus:  Brink’s carriers will be changing their pickup schedule.

Currently, Brink’s has been coming to campus on Fridays.

Starting the week of July 17, 2023, Brink’s will visit the UBCO campus on Tuesdays for deposit pickup.

Important! Payroll Fraud Phishing Attacks

The below message was received from UBC Cybersecurity, and has been posted here to promote awareness on this issue. 

 

Please be advised that UBC Cybersecurity is aware of an alarming increase in Payroll Fraud phishing attacks.

Criminals have crafted tailored messages targeting members of finance and/or payroll teams, attempting to trick them into updating employees’ direct deposit account information in order to re-route employees’ paycheques. At least one case has been successful so far, and we suspect that many more similar attempts are just on the horizon.

With this information in mind, you must be vigilant when examining any message that you receive in your Inbox.

Please keep the following checklist handy during your review:

  • Watch for the [CAUTION: Non-UBC Email] banner at the top of emails.
  • Emails from UBC colleagues and services will NOT have this banner applied.
  • Emails from UBC colleagues and services should not be from internet mailing services like Gmail or Hotmail.
  • Do not open attachments that you weren’t expecting, especially if they require a password to open.
  • Contact the sender either by phone or by sending them a separate email to a known email address (do not reply to the email you received) to confirm legitimacy.
  • Do not click on links in messages.
  • Always type the website address into your browser.
  • Be wary of messages that convey a sense of urgency:
  • ‘I need to change my deposit information before the next paycheque…’
  • Beware of messages claiming certain services like Workday or CWL aren’t working.
  • Direct the sender to the IT Service Centre for urgent assistance and validation
  • Trust your gut, if the sender’s standard email format isn’t followed (e.g. their signature has changed or their email just doesn’t sound quite like them), follow up to see if it’s legitimate.
  • Report any suspicious emails messages to security@ubc.ca

If you follow this checklist every time you review your email, we’re confident you will spot something suspicious when it arises and will follow the safe course of action.

Remember, no matter who someone claims to be, you should never feel pressured to “help” someone by engaging in steps that do not follow proper procedure and protocol. Instead, scrutinize any unusual requests and immediately escalate them to your supervisor. If in any doubt, please report suspicious email messages (preferably sent as attachments) to security@ubc.ca. We’re happy to review emails or any other form of electronic communication to assist in validating a request.

Looking for a Verification or Confirmation of Employment letter?

Introducing our new Communication and Change Management Specialist!

Please join us in welcoming Olayinka Makanjuola, who joined our team on Sept 12, 2022 as our Communications and Change Management Specialist. This is a leave replacement for Lauren Hatchard, who will return to UBC Okanagan in the fall season of 2023.

Olayinka has extensive communications and change management experience and skills, and we are confident that she will be able to jump right in to support Workday sustainment, continuous improvement projects within AVPFO, and other initiatives in Finance Operations. Her past experience includes various communication positions with organizations in Chicago, Tennessee, and Nigeria; she also holds a Master of Arts in Communication and Media Studies.

Note: Please direct Workday related questions to the ISC.

Accounts Payable – Expense Reports Update

Please note that due to high volumes of submitted expense reports from the campus community, it can take a minimum of three weeks for Accounts Payable to review and process all submitted expense reports. Please communicate this to your teams and departments so that they are aware of processing and turn-around times.

If you have an out of pocket expense report that requires urgent reimbursement, you can email finance.ubco@ubc.ca with the EXP-number, and it will be passed onto the AP team with a request to expediate if possible.

Note – this is only an option for personal out of pocket reimbursements, and not UBC Visa paid expenses.

For information on how to create and submit an expense report for UBC Visa reconciliation, please review this job aid: Reconcile UBC Visa Transactions on an Expense Report

For information on how to edit or change an expense report, please review this job aid: View, Edit, Change or Cancel an Expense Report

Important Year End Dates

Please review important year end dates and information regarding UBC cutoffs and deadlines here.

T4/T4A Tax Slips now available for Faculty and Staff

T4 and T4A’s are now available and can be accessed through your Workday portal.

 

If you having issues locating your tax documents, please refer to this job aid to help navigate to your tax documents. To read more about tax document availability, please visit here.