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Fiscal Procedures For LNS Personnel

 

 

LNS Personnel, especially new hires, are advised to contact the LNS Fiscal Office (by phone, email or in person) for guidance on how to place new orders, change orders, set up a new vendor in the system, etc., or any questions regarding fiscal issues.

 

PURCHASING:
Purchase requisitions are written on-line using Atlas at https://atlas.mit.edu under the Buying tab.  This requires installing an MIT certificate on the computer you are using (see https://ca.mit.edu).  You will be able to write requisitions on any accounts you are authorized to use.  In order to get a new hire (including graduate students and post docs) authorized for purchasing, her/his supervisor should contact the LNS Fiscal Office to set up the appropriate authorizations in the SAP system.

The Buying tab in Atlas has several options for vendors: eCAT, vendors who are MIT partner vendors, offering previously negotiated discounted prices; external, vendors who are outside MIT; and internal, vendors such as MIT catering, the Central Machine Shop, etc.

After you complete a requisition it is routed to the account supervisor for approval, next to the LNS Fiscal Office for review and approval, then to the MIT Procurement Office for review and creation of a purchase order.  Note that any item costing more than $5,000 requires a selection of source form to be attached to the requisition (available from the Sourcing & Procurement section of the MIT VPF website: http://vpf.mit.edu).  You may use Atlas to view the progress of your requisition through the approval chain.

The Procurement Credit Card is a preferred way to purchase items costing $3,000 or less, with certain exceptions.  Please see Al Beatrice in Fiscal (26-519) for the appropriate forms and authorizations for requesting a credit card.  Rules for use of the Procurement Card can be found in the Sourcing and Procurement section of the MIT VPF website.  MIT rules are very strict on credit card purchases; failure to comply with the rules could jeopardize your usage of the Procurement Card.

All personnel doing purchasing in any form (purchase orders, credit card, or cash) must submit a signed and dated packing slip, receipt or invoice to the Fiscal Office as soon as the material is received.  Without your evidence of receipt of goods in working order, the vendor may not be paid (depending on the dollar amount), and government auditors will disallow the charge to a research account.  Emailing a scanned packing slip/receipt/invoice (signed AND DATED) is acceptable, as long as the hardcopy is later given to Fiscal.

For credit card purchases, submit documentation to Fiscal within 48 hours (2 business days): original receipts plus the standard LNS Fiscal cover sheet (available on the LNS website) showing the account to be charged and information on the purchase.  Emailing a scanned cover sheet and receipts is acceptable, as long as the hardcopy is later given to Fiscal.  MIT allows a limited time window from the date of purchase for assignment of a credit card purchase to the correct account number.  After that time the charge goes to the default account associated with the card, and will be audited. Your prompt submission of documentation permits LNS Fiscal to meet this limited time window.

We don’t recommend the use of personal credit cards or cash purchases but there are circumstances when it is necessary.  Original receipts or invoices are required to process a request for reimbursement (RFP – done on-line through Atlas at https://atlas.mit.edu under the Reimbursements section of the Self-Service tab).   For small cash purchases (under $50) you may get reimbursed from petty cash; see Al Beatrice in Fiscal (Heidi Demers at Bates).  Receipts are necessary.  You should make a copy of any receipts for your own records.

For business meal reimbursements, please provide a completed business meal sheet (available in the Fiscal Office 26-519 or on the LNS website) listing date and purpose of the mail, and number and names of people attending.  An original detailed receipt with the total dollar amount is also required.

Hard copies of MIT’s Tax Exemption form are kept in the Fiscal Office 26-519 (see Heidi Demers or Anne Maloney at Bates).  The form is also available from the Sourcing & Procurement section of the MIT VPF website under “Other Forms”.  Taxes charged on purchases made on a personal credit card or paid for by cash will not be reimbursed by MIT. The use of the Tax Exemption form is strongly recommended.

TRAVEL:
MIT uses the on-line Concur system for travel reporting.  In order to be reimbursed for travel expenses, you must submit all original itemized receipts (or attach scanned PDF’s to the Concur report).  Receipts for meal expenses for domestic travel are not required as long as the expense is less than or equal to $60 per full day.  This is not a fixed reimbursement rate; please request the amount actually spent.  For foreign travel you may claim a per diem amount covering meals and lodging.  Please contact Travel Coordinator Lauren Saragosa in 26-516 with travel-related questions, or to obtain an MIT Travel credit card.  Please visit http://vpf.mit.edu/site/travel/policies_procedures/mit_policies_procedures/mit_travel_policy for detailed information on MIT travel policies.

 

last updated 6/19/14