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SOFO Transactions

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SOFO Student Supervisor

on 18 July 2017

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Transcript of SOFO Transactions

SOFO Transactions
Petty Cash
Check Advances
Purchase Orders
There are 6 types of transactions within SOFO, and each require a voucher.
You can sign out voucher books from our office
If a group member has ALREADY purchased something, SOFO will repay that amount (without sales tax)
Reimbursements $30 or less
Made directly to vendors, not individuals who have already purchased goods.
Allow groups to take out money before a purchase, use that money towards the purchase, and bring in the receipts later
Move money between SOFO accounts and within the University.
Relatively infrequent, please see our office if you need to prepare one.
In order to process a reimbursement, we will need the ORIGINAL receipt, which serves as a record of the transaction, which we need to show to auditors
The receipt needs your advisor signature and needs to be accompanied by a voucher detailing the amount to be paid and who will be paid.
Receipts require:
What was purchased
Date of purchase
Where it was purchased
Address & Phone number of vendor
How it was paid
Must show a zero balance or
that it was paid in full
Receipts CANNOT include:
Alcohol or Tobacco
IL Sales Tax
EXCESSIVE tip (15-20% is OKAY)
Purchases made more than 85
days before submission
To process a petty cash payment, you will need the receipts, a voucher and a PETTY CASH FORM.
Fill out the top, much like a voucher
After the documents are approved at SOFO, take the form and the receipts to the cashier's office.

You will receive your reimbursement in cash
Due to limited cash funds, you can only turn in one petty cash per person being reimbursed per day
Payments on Invoices
vendor information (address, phone number, etc)
a detailed description of the items being ordered
your advisor signature
CANNOT be a quote or an estimate
Should have:
Payments on Contracts
Contracts are used to pay individuals for services
Contracts must be accompanied by an W-9 form with tax information as well as a contract rider
All forms are available on our website.
Who can sign?
Contracts Must be signed by an authorized University representative, not a student or your advisor.
People that can sign:
VP of Student Affairs
the Associate Director of the Center for Student Involvement at Norris
if your advisor is approved by the office of general counsel, they can sign
Your advisor will need to sign the voucher
More info on contracts will be explained at the live training session!
Please provide an explanation of the reason for the purchase(s)
We can mail out a check on your behalf if you provide an address
All 9 digits, please!
Any transaction requires
the authorization of both officers

a voucher, check the transfer box
have the President, Treasurer and Advisor sign the voucher.
To process a transfer, you will need:
We will generally transfer the funds within the next business day
Check advances can be made up to $500, and can only be made out to either the PRESIDENT or TREASURER of the group

In order to process a Check Advance, fill out a voucher and have your advisor sign the voucher.
AFTER the purchase,
bring in the receipts.
should be formatted just like reimbursement receipts
have them signed by advisor
deposit any excess funds at the cashier’s office, or fill out a reimbursement voucher if you spent more than the amount of the check advance
If you deposit money, bring in the deposit
slip with the receipts

The receipts and deposit should add up to the amount of the check advance

You will also need to fill out a check advance reconciliation form (you can find these on
our website)
Only use these if you cannot use a payment or if the company specifically requests it

Requires a QUOTE, and a voucher
Tape the receipts here

Use the back of this page and
additional sheets of paper if necessary
Check Advances must be reconciled within 30 days, or else your group will be frozen
Groups may take out as many as they choose (with sufficient funds)
Res Halls, however, can only take out one at a time, due to Res Life policies
Check advance funds cannot pay sales tax
Full transcript