Travel Advance/Reconciliation Form student Payment Request form
The paper Travel Advance/Reconciliation Form is used to advance funds to Pace Employees. Travel advances are amounts issued upon authorized request to employees who are about to travel for University business, or are making arrangements for a future business event.
The Internal Revenue Service requires all employees who are provided advances by their employers for travel, entertainment and other expenses to submit either an adequate accounting of such expenses to their employers or report such reimbursement as income on their individual tax returns. Employees can satisfy the adequate accounting requirement by completing the Travel / Expense Reimbursement Form. These reports are to be submitted within 15 working days after completion of the trip and unused funds returned to the University with the report. It is the responsibility of the appropriate dean, director, principal investigator or officer to approve only those travel expenses, which appear reasonable and necessary.
Noncompliance by an employee with reporting regulations will result in:
- Denial of future cash advances,
- Deduction of the outstanding advance from a future request for reimbursement, or
- Inclusion of the undocumented travel advances to the employee’s W2 Wage and Earnings Statement as additional taxable income.
Pace University will advance funds, based on a reasonable estimate of the anticipated expenses, to support authorized travel. Advances of funds must be requested, justified, and approved, and will be limited to the minimum amount necessary for completion of travel. A request for an advance cannot be honored when an outstanding advance to the traveler has not been settled satisfactorily.
Unused portions of a travel advance should be returned to the University within the prescribed time period. To return unused travel advances, submit to Accounts Payable a completed Reconciliation form with a check payable to Pace University attached.
A completed Reconciliation contains:
- Banner#, name, address, correct index, account codes, dates, and amounts
- Business purpose of the expenses incurred
- Description of expenses as related to the sections (Air, Train, Auto, Meals and Entertainment and/or Other)
- Authorized signatures
- Original receipts and/or Missing receipt form
Student Payment Request form is a paper form used to make payments to students based on these three criteria:
- Non-Payroll Stipend
Payments which are considered taxable will be issued a 1099 Misc tax form therefore a SSN will be needed.
A completed Student Form contains:
- Payee name, address, correct index, account codes, vendor invoice# and amounts
- Payment description
- Authorized signatures
- Original documents as supporting documentation