Please note that University Physicians, Inc. is now doing business as University of Colorado Medicine (or "CU Medicine").
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How Do I...?

Created:   | Updated: 06/06/2017

Accounts Payable & Purchasing


1. Create and submit an A/P expense voucher (travel expenses, vendor payments, etc)

**Update for COR360 system in progress**


2. Create a purchase order, request purchasing services

**Update for COR360 system in progress**


3. Plan and pay for an official corporate function

CU Medicine funds can be used for official department functions. For assistance with the policies associated with the events, reference Section 7.05 of the Accounts Payable Policy.


4. Secure the services of a consultant or contractor in lieu of employment

The IRS has created specific rules around company decisions to utilize consultants or contractors for work that could be considered more permanent in nature. To determine whether a specific contracting relationship is acceptable in lieu of employment per IRS regulations, complete an Employee vs Independent Contractor Questionnaire.


5. Find copies of CU Medicine’s IRS form W9 and tax exemption certificates

From time to time, certain contracting parties or vendors require CU Medicine’s taxpayer identification number or proof of CU Medicine’s tax-exempt status.For a copy of CU Medicine’s W9 and tax exemption certificates, access the Official Documents section of the intranet, under Documents & Resources.


Accounting & Financial Reporting

6. Access CU Medicine financial systems, including Microsoft AX and COR360

CU Medicine finance utilizes Microsoft AX as its general ledger and financial reporting system and Corcentric COR360 for accounts payable and purchasing activities. To request Microsoft AX self-service access, complete a User Account Security Form. To request COR360 access, complete the COR360 User Form.


7. Request a journal entry

Journal entries move dollars between existing department funds and accounts. To request a journal entry, submit a completed Journal Entry Template.


8. Submit a proposal for a new financial report or note an issue with an existing report

CU Medicine’s general ledger system, Microsoft AX, has a compliment of both standard delivered and self-service reports. To suggest a new report or notify us about a specific reporting issue, complete a Report Intake Form or email FinanceReporting@cumedicine.us.


9. Find information regarding allocations and assessments

Centralized CU Medicine functions and services, program support arrangements specified by the CU Medicine Board and certain University operating costs are funded through a series of expense allocations and income-based assessments. To view current assessment schedules, access CU Medicine Assessments.


Professional Services Billing

10. Set up a new professional services/consulting arrangement prior to invoicing

Faculty often enter relationships with third parties to provide professional services/consulting to those organizations. To draft a contract, determine the appropriate accounting for that agreement and other pre-invoicing activities, complete a Contract Intake Form.


11. Process an invoice for medical/legal/consulting work

To create and submit an invoice under an existing third party agreement, complete a Medical Legal Billing Form.


12. Request a 1099 tax exemption letter

Faculty providing professional services/consulting to third parties often receive a 1099 reporting that income to the IRS for individual taxation. In some instances, that income remains in the department and is used to offset faculty salaries/benefits or other mission-related expenses. To request a 1099 tax exemption letter, email FinanceGeneral@cumedicine.us.


Physician Incentives & Additional Pay

13. Administer the physician incentive process

Faculty incentive plans provide additional compensation to physicians for the academic, clinical and research activities they perform on campus. To design a new incentive plan, understand the timelines of the incentive payment process or to submit incentive plan calculations, access the Department Plan Development Template, the Financial Deadlines Process Schedule, or the Incentive Processing Attachments & Checklist.


14. Process additional pay for faculty

Faculty often receive additional pay for shift coverage, as compensation for particular roles and duties or as incentive pay. To process additional pay, complete an Additional Pay Form and submit to FinanceGeneral@cumedicine.us.


15. Prepare and submit faculty reserve forms

Faculty are allowed to reserve additional income (incentive, on call, med/legal/consulting, etc) subject to certain terms and conditions required by the IRS. For information about the policies surrounding this activity, review the Physician Incentive Guidelines
To access reserve forms: UPI, On Call, Med Legal Consulting.