UBCO Finance News

Year End Deadlines FY 18/19

Important information is outlined below for year end Accounts Payable and Payroll timesheet deadlines.

Accounts Payable

Tips for a successful year end:

  • Process or submit financial activities well in advance of the final deadlines.
  • All final deadlines are subject to volume constraints. If document submission is delayed there is risk that even with the deadlines stated high volume could jeopardize successful completion of year-end processing.
  • Clearly write 18/19 on the top of your documents.
  • Ensure proper backup is included with your financial submissions. This will cut down on items needing to be returned and creating further delays.
  • Wire transfers are only processed on Vancouver campus. Send information directly to them.

Specific deadlines and detailed information can be found in the 2019 Year End Timelines and Procedures.

Payroll Timesheet Submission Deadline

  • Timesheets are due by 12 noon on Thursday, March 28th.

Accessing Your Current or Past T4s

When T4s Are Available:

Online T4s are available by February 28th. For those who have not opted in, Vancouver campus will mail paper T4s by February 28th.

Online tax slips are provided as PDFs and are identical to the printed form. The online version is accepted by Canadian Revenue Agency (CRA) when filing your taxes.

Switch to an online T4 by January 31st noon and you will be entered to win an iPad! We appreciate your commitment to sustainable practices and best of luck in the draw!

Effective immediately, paper copies for past T4s will not be provided.

Accessing Your Tax Slips Online (Current Employees):

  • Print T4 copies through the Management Systems Portal using your CWL (campus wide login) ID and password.
  • Download Virtual Private Network (VPN) if you are accessing the portal off UBC Okanagan campus.
  • Select ‘HRMS Self Service’
  • Go to ‘Year End Slips’ and check ‘yes’ for receiving an electronic only copy of your T4. Please note that this option will only appear if you have not done this selection process.
  • If you have already elected to receive your tax slips electronically, a paper copy will not be generated. Tax slips online are identical to the ones mailed.
  • Important: if you click on ‘Year End Slip’ and nothing appears, look to the top right of your screen and turn off the pop up blocker. Turning off this feature will allow the T4 to appear on screen and be printable.

Former Employees – Download T4s:

Former employees can access T4s in two ways:

  • Through the Management Systems Portal. Access remains 18 months past your last day of employment.
    • Download Virtual Private Network (VPN) in order to access the portal. Log in to the VPN network and then sign onto the CWL site.
    • Troubles installing VPN? Call IT, Classroom and Media Services Help Desk for troubleshooting advice.
    • Ensure that pop up blockers are turned off on the internet browser. This will allow the T4 to appear on screen and be printable.
  • From the CRA website, set up access to online services through My Account. CRA will provide copies online of your T4 or T4A from previous years.

Past Years T4s

Are only available on the Canada Revenue Agency website. Sign up for an account and once it is activates, past years T4s will be on your account. We no longer provide copies of past years T4s.

Your Tax Deductions

UBC Payroll deducts taxes from your paycheques according to rules, legislation and computer formulas provided by the Canada Revenue Agency (CRA). See what is considered taxable.

Read Further Information About:

  • Income Tax Deductions
  • CPP and Employment Insurance Deductions
  • Exemption to CPP
  • Non-Resident Taxation
  • Scholarships and Fellowships
  • Rules for Tax Deductions and Exemptions
  • Taxable Benefits

Switch to an Online T4, Win an iPAD

UBC Faculty and Staff have the option to receive their T4 tax slip electronically, instead of receiving a printed copy. To encourage employees to make the sustainable switch, UBC Payroll is giving away an iPad to one lucky faculty or staff member who makes the transition between now and the end of January.

Faculty and staff who log into the UBC Management Systems Portal and switch from paper to electronic T4s are eligible. All new sign-ups between now and January 31, 2019 (noon PST) will be counted towards one entry into the draw, and only those opting in for the first time are eligible.

To opt-in to receive an electronic T4:

  • Visit the UBC faculty and staff Management Systems Portal
  • Log in using your CWL (campus-wide login)
  • Click the HRMS Self Service tab
  • Under My Pay, select Year End Slips
  • If you have not already agreed, the website will prompt you to agree to receive your T4 online—choose Yes

Payroll will track all new T4 online opt-ins between now and January 31. The draw prize will be one iPad (128 GB, 9.7-inch).

Thanks for switching, and good luck!

(noted from UBC Finance Vancouver campus https://finance.ubc.ca/announcements/switch-online-t4-win-ipad)

Important Notice – Hourly Timesheets for Dec 16-31

Due to the early December 21st deadline, December 16-31 timesheets will not arrive from Vancouver on time.

It has been decided, in conjunction with both Vancouver and Okanagan payroll, to hold delivery of the timesheets completely to save confusion and duplication, and ask that everyone submit a manual timesheet for your employees.

The manual timesheets can be downloaded from the following link Blank timesheets

2018 Holiday Closure and Important Deadlines

Important:
Last Brink’s deposit pickup: 8:30 am, December 21st
Deposits in ADM 006: accepted before 3:30 pm on December 21st

Payroll Timesheet Deadline:
12 Noon, December 21st
Drop box is located outside the main doors of EME 2171

Office Closed:
December 24th at noon – January 1st
Staff returns January 2nd with regular office hours of 8:30 am-4:30 pm

Making Deposits in ADM 006. Times to Keep in Mind

Please make deposits during the hours of 8:30-3:45 pm. Main entrance doors auto lock at 4:00 pm due to staffing hours.

UBC | Okanagan Campus

Research Policy Amendments

T4/T4A statements now available online

To: Faculty and staff in Vancouver and the Okanagan
Faculty, staff, and student employees can now download their 2017 T4 and T4A statements for their tax returns via the Faculty and Staff Self-Service Portal.

How to download your statement:
  • Log in to the Faculty and Staff Self-Service Portal at www.msp.ubc.ca, using your Campus-Wide Login (CWL). If you are off-campus, you will need to connect using VPN (https://it.ubc.ca/services/email-voice-internet/myvpn).
  • Click on HRMS Self-Service.
  • In the My Pay column of the screen, select Year End Slips to access your statement for the current and previous years. If you have not previously accessed your slip(s) online, you will be required to acknowledge a consent agreement.

Note: Faculty and staff who choose not to accept the agreement will receive their T4/T4A statements in late February, consistent with the requirements of the Canada Revenue Agency (https://www.canada.ca/en/revenue-agency.html).

For more information on your taxes or obtaining your tax slips, please visit: https://finance.ubc.ca/payroll/your-taxes

Peter Smailes
Interim Vice-President, Finance and Operations

original message through broadcast email

Fiscal 2018 Okanagan year end details/deadlines

Note that these are the final deadlines and are subject to volume constraints – if document submission is delayed there is risk that even with the deadlines stated below high volume could jeopardize successful completion of year-end processing.

 

Payroll

Final timesheet for hourly Mar 16-31 pay period must be in EME2171 mail slot by 12pm March 28, 2018

Procurement Deadlines (Purchase Orders):

https://finance.ubc.ca/announcements/procurement-year-end-deadlines (previously posted)

  • requests will be accepted after these dates and best efforts will be made, but there is no guarantee that processing will be completed by March 31, 2018.

Please ensure that PO Invoice payment requests give sufficient time for processing.  The stated deadline is Tuesday April 3rd at 4:30pm, however please send in PO Invoice payment requests as soon as you can to ensure inclusion in Fiscal 2018.

Pcard Cycle Dates and Closing Dates for Fiscal Year End:

  • Will be sent to the Pcard holders/coordinators once finalized.  Should be similar to previous years deadlines.

Online Payment Tool Closing Dates for Fiscal Year End:

Because OPT is a transactional system, only transactions that are fully approved will be in Fiscal 2018.  Initiators should allow time for all approvers to review OPT documents to ensure that the final reviewer (last step in the eform process visualized) is able to approve by 4:30pm Saturday March 31, 2018.  Any eforms finalized after this date will be Fiscal 2018/19 transactions.

A report will be generated at end of business March 31, 2018 of all outstanding OPT Visa (credit card) transactions as of that date.  It will be distributed to the Finance Managers the morning of April 3rd to determine which amounts, if any, will need to be accrued for Fiscal 2018 as per the following posted procedures:

These forms are also available under OPT Learning Resources on finance.ubc.ca.  Please complete and forward your reversing accrual entry to Finance Operations EME2171 as soon as you can.  Entries must be submitted to A/P by the 4:30pm Wednesday April 4th, 2018.

Please note that this is for GPO-related transactions only – research related P/Gs do not need to be considered as part of the process.  This accrual will reverse in Fiscal 2019 (April 2018).

Smartforms/Manual Forms

Please ensure all forms are in EME2171 as soon as possible.  A/P submission deadline is 4:30pm Wednesday April 4th, 2018.  Forms will be accepted up until the deadline; however late forms risk not being included in Fiscal 2018 due to high processing volumes.

Payments requiring Wire Transfers or Bank Drafts

Wire Transfer/Bank Draft requisitions need to be in Vancouver Financial Operations (physically received) by Tuesday, March 20th, 2018 to allow for processing as wire transfers are not done on the Okanagan campus.

Web Cash Receipts

Entry Deadline for Web Cash Receipts (cash/cheque deposit) is 8pm Saturday, March 31,2018 for inclusion in Fiscal 2018.

Journal Vouchers

Please ensure all Journal Vouchers are sent in as soon as possible.  A/P’s submission deadline is 4:30pm Wednesday April 4th, 2018.  Please ensure all JV’s include all supporting backup and are completed with correct speedcharts and account codes.  Last year, many journal vouchers were delayed due to incomplete information.

The original year end communication from Frances Tadman in Vancouver is included and it describes the system deadlines in more detail, with the attached AP Audit/ AR Audit requirement forms.

Please direct any questions you may have to Ray Fahrun directly.