Effective July 1, 2007, account 693250 Public Relations/Social Expenses – Tax Already Invoiced will be added to the general ledger. Charges to be posted to the new account 693250 are those on which sales tax was paid at the time of purchase, such as hotel, restaurant and catering expenses. Please continue to use account 693200 Public Relations and Social Expenses for those charges on which sales tax is not paid at the time of purchase. Though sales/use taxes paid to North Carolina Department of Revenue are generally refundable to the University and DUHS, sales/use tax refund requests are filed semi-annually and refunds are typically received 6 to 8 weeks or more after filing. Use of account 693250 for these invoices on which sales tax was paid at the time of purchase will eliminate duplicate payments of sales/use tax and improve cash flow on these payments by as much as 8 months. Please begin using this account on check requests prepared for posting from July 1, 2007 forward. Please contact Patti Murphy in Corporate Tax at 684-5144 with questions.
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