Below is a selection of financial operations and related news at NYU. View the links and related pages to find forms, resources, newsletters, training, and more news in detail.
The following communication was sent to Fiscal Officers on October 8, 2018.
As part of our continued efforts to maintain and exhibit best business practices, the University will be reaching out to suppliers who have not yet registered in the i-Buy NYU Supplier Portal.
The i-Buy NYU Supplier Portal provides self-service for NYU’s suppliers to:
Individuals reimbursed for guest travel will not be asked to register.
Effective immediately, suppliers will only be able to update their address, contact, payment, tax and insurance information through the i-Buy NYU Supplier Portal.
Please review the Supplier On-Boarding Policy for more information.
Registration in the i-Buy NYU Supplier Portal is essential for the accurate, timely issuance of purchase orders and payment of invoices.
For information on how NYU conducts business with Suppliers please see How to do Business With NYU on the Supplier Information page.
Direct link for the suppliers that have already registered: i-Buy NYU Supplier Registration Portal
Please contact firstname.lastname@example.org if you have any questions.
October 8, 2018
The following message was sent to myTime Time Sheet Approvers. Please direct any questions to PeopleLink at email@example.com.
Dear Time Sheet Approver,
You are receiving this message because of an important change to the way unapproved student hours will be charged to your budget.
All unapproved hours a student works will automatically be charged to a non-federal work study salary account (default chartfield) in PeopleSync for the appropriate school or unit, instead of being charged to the FWS program chartfield.
Federal guidelines require that all FWS hours be certified, reconciled, and approved by the student’s supervisor in order to use the federal funds.
As part of our continued effort to review process and policy, we have identified an opportunity to clarify and strengthen our practice in regards to Federal Work Study (FWS) administration.
The following change will be effective beginning with the 10/1/2018 MyTime (payroll) deadline for the pay period ending 09/30/2018:
If you have any questions, please contact PeopleLink at firstname.lastname@example.org or 212-992-5465.
Thank you in advance for your cooperation.
September 28, 2018
The following communication was sent to all FAME and UDW+ users on June 11, 2018.
The FAME upgrade from version 9.0 to version 9.2 is complete. You may now access all FAME dependent applications and continue processing June financial transactions.
Systems Now Available:
UDW+ June financial information will not be reflected until end of day on Wednesday, June 13.
Please contact AskFinanceLink@nyu.edu or 212-998-1111 with any questions.
June 11, 2018
The following communication was sent to all FAME and UDW+ users on May 29, 2018.
As discussed at the April 18th Financial Forum, the PeopleSoft Financials application (FAME) is being upgraded from version 9.0 to version 9.2. This is primarily a "technical upgrade" in which the application and supporting software are upgraded to the more recent version of PeopleSoft and PeopleTools.
Please note important dates and information that will impact when transactions are posted in FAME and available in UDW+.
FAME and UDW+ Availability
The upgrade activities will commence upon the conclusion of the month-end close activities for May 2018 (June 7, 2018). All May transactions will be reflected in UDW+.
UDW+: During the FAME upgrade period you may continue to access and run reports; however, June financial information will not be reflected until end of day on Wednesday, June 13.
FAME: The application and associated financial transactions will be unavailable during the upgrade.
The following FAME dependent applications will be unavailable Thursday, June 7 at 5:00 pm ET until Monday, June 11 at 8:00 am ET:
Support: Please contact AskFinanceLink@nyu.edu or 212-998-1111 with any questions.
May 29, 2018
The Supplier Information page has been updated with information on how to do business with NYU. It offers helpful information on subjects such as registering as an NYU supplier, new supplier requests, the University’s Procure to Pay process, payment terms and more.
May 24, 2018
The following communication was sent to all employees on April 18, 2018.
To Help Taxpayers Determine Appropriate Tax Withholding and Complete Form W-4
Following passage of the Tax Cuts and Jobs Act in December 2017, the IRS released new versions of Form W-4 (Employee’s Withholding Allowance Certificate) and the Withholding Calculator. The IRS recommends taxpayers utilize the withholding calculator to ensure the appropriate amount of 2018 income tax is withheld from their pay.
The new tax law made several changes to taxes on individuals, including adjustments to tax rates and brackets, increasing the standard deduction, removing personal exemptions, increasing the child credit and limiting or eliminating certain deductions.
The withholding changes do not affect 2017 tax returns; however in order to effectively use the withholding calculator you should have a completed 2017 return nearby to reference. You should also have your year to date pay stubs for reference when you complete the calculator. You can locate your pay stubs in PeopleSync by clicking on the “Pay” icon and selecting “View Payslips”.
Please consult with your financial or tax advisor if you have additional questions about your personal tax situation.
Should you wish to update your current W4 elections please see the following link for instructions on how to update your W- 4 in PeopleSync: Complete Your W-4 Form (Federal Tax Withholding Elections).
Please contact PeopleLink at: email@example.com or call 212 992-5465 for more information.
Dear NYU Employees,
We are writing you as a follow up to our previous communication regarding the Tax Cuts and Jobs Act.
The IRS updated the 2018 income tax withholding tables and issued related guidance on January 11th. The new tax withholding tables have been designed to work with the current Form W-4 (Employee's Withholding Allowance Certificate). The changes in employees' payroll tax withholdings will be reflected in paychecks beginning January 26th. Please consult your tax advisor with questions about your personal tax situation and how the new federal tax rates impact your with-holding and annual tax obligations. You may also refer to the information published by the IRS at: https://www.irs.gov/pub/irs-pdf/n1036.pdf.
The IRS has issued guidance that the Form W-4 will be redesigned for tax year 2019 to reflect the suspension of the personal exemption deduction. The University will alert you when the new Form W-4 is available so you can update your information for 2019.
Please contact PeopleLink at: firstname.lastname@example.org or call 212 992-5465 for more information.
To access your 2017 Form W-2 online, please follow the instructions Accessing Electronic Form W-2 Quick Step Guide (PDF).
A kiosk is available at 105 East 17th Street, 3rd floor, for employees who wish to use this service. You will be able to view and print your 2017 Form W-2’s from this private kiosk workstation. There will be step by step instructions at the kiosk for those that need assistance.
Employees who have elected to receive a paper 2017 Form W-2 should receive it via the US Postal Service, the week of January 29th. To consent to receive an electronic copy only of future Form W-2’s, please follow the instructions Opt Out of Paper Form W-2 (PDF).
If you have questions, please contact PeopleLink at AskPeopleLink@nyu.edu or 212-992-LINK (5465).
Enhanced notifications in i-Buy NYU for supplier registrations are now available. The notifications are intended to update requestors of new suppliers of progress that invited suppliers are making in their registration in i-Buy NYU. Notifications are now available when a supplier is invited, when they begin their registration, and when they complete their registration.
The IRS considers all gift cards cash and cash equivalents subject to tax regardless of the amount of the gift card (e.g. a $1 gift card is subject to tax). Bank of America Payment Cards cannot track and break out gift card purchases; they just track the merchant, e.g., CVS.
A revision has been made to the Signature Authority Policy as it relates to equipment leases. Signature Authority Policy
Please send requests for approval along with a copy of the lease agreement to the University Treasurer, Janine Wilcox at email@example.com.
June 12, 2017
Procurement has created helpful Bid Waiver Form Guidelines to assist in clarifying for the University when and how the Bid Waiver Form should be used. The Guidelines are easily accessible on the i-Buy NYU Resources Portal (PDF).
June 15, 2017
The revisions include:
June 15, 2017
The new Supplier Request Form for Guest Reimbursements will be available in i-Buy NYU effective June 12. 2017. The Supplier Request Form for Guest Reimbursements should be used only when NYU has agreed to reimburse an individual for costs they incur for coming to the University for an engagement.
The following communication regarding "New Legal Requirements for Honoraria Payments" was sent to FOs, HROs and all i-Buy NYU Advanced Requestors on May 12, 2017.
In order to comply with the new NYC Freelance Worker Protection Law, beginning May 15, 2017, the following process must be followed for all honorariums:
For questions about this new process, please contact FinanceLink at firstname.lastname@example.org or 212-998-1111.
May 12, 2017
The Chartfield Access Authorization Form now includes a section to request access to the reporting departments for UDW+ Departmental Metrics Dashboard (UDM) and the proposals tabs on the D03. Grants Management Dashboard.
When an individual from your department requests chartfield access to either one of these reporting departments, you will receive an email asking to approve or deny their request.
Please note that in addition to chartfield access for UDW+ Departmental Metrics Dashboard (UDM), users will need to request UDM reporting access by contacting the Decision Support Group at email@example.com or 212-998-2900, and also receiving approval from their Dean.
If you have any questions, please contact the FinanceLink Service Center at 212-998-1111 or AskFinanceLink@nyu.edu.
November 19, 2015
Use the subaward invoicing system to manage payments to your subawardees! Click here for more information. A quick reference guide and training video are also available to help you navigate the system.
Questions? Contact the SPA Team Analyst for your school.
February 10, 2015
Per IRS Regulations, Cash gifts (including gift cards, gift certificates charge card, credit card, etc.), no matter how little, are considered taxable income and are subject to withholding tax.
IRS Publication 15-B - Cash and cash equivalent fringe benefits (for example, use of gift card, charge card, or credit card), no matter how little, are never excludable as a de minimis benefit, except for occasional meal money or transportation fare.
November 18, 2014