TAMU > Finance > FMO > Sales & Receivables > How do I process a Reduction to an Expense?
How do I process a Reduction to an Expense?
A reduction to an expense is a payment received as reimbursement to an expense paid from your account.
Payments for reimbursement of expenses must be sent to the Corrections Department, MS 6000.
Checks- All checks must be endorsed properly. See Standard Administrative Procedures 21.01.02.M02-Check Endorsement Requirements for more information. A Reduction to Expense Request Form must be attached providing the original payment information including the accounts, support accounts, expense codes, amounts and reference numbers. The Corrections Department will deposit the checks and post the reimbursement to your account.
If the original expense has not cleared the account before the reimbursement is received, include the date it should clear in the ‘reason for payment’ section of the form. The reimbursement will be posted to a holding account. Send an email to the Corrections Department providing the original payment information once the expense posts to your account. An entry will be made to move the reimbursement from the holding account to your account.
Cash- The Corrections Department cannot accept cash. Cash should be deposited by completing a Wells Fargo deposit slip and sending the deposit slip and cash to the Cashier Office, drop-box, or Wells Fargo branch in a plastic tamper proof deposit bag. Email a copy of the Wells Fargo deposit slip to Sales & Receivables with the original payment information including the accounts, support accounts, expense codes, amounts and reference numbers in the body of the email. Once the deposit has hit the bank, an entry will be made to post the reimbursement to your account.
If the original expense has not cleared the account before the reimbursement is received, include the date it should clear in the email. The reimbursement will be posted to a holding account. Send an email to the Corrections Department providing the original payment information once the expense posts to your account. An entry will be made to move the reimbursement from the holding account to your account.
Allowed to be deposited through iPayments
Centrex Bills (TCOM) - Reimbursements for personal phone use, fax, etc can be posted through iPayments. The original TCOM invoice number should be included in the description or comments fields.
Copy Charges- Reimbursements for personal phone use, fax, etc can be posted through iPayments. The original TCOM invoice number should be included in the description or comments fields.
Repayment of NSF Checks- NSF check repayments should be deposited through iPayments using code 6312. A NSF fee should be charged and deposited as revenue using code 0714.