Christopherson Business Travel (CBT) is increasing staff during business hours and afterhours to prepare for the anticipated travel interruptions expected due to the impending “bomb cyclone." CBT will service customers as efficiently as possible, but here are a few tips for you to consider.
Cancelling a flight with CBT or directly in Concur will not remove the associated airfare charges from your Concur profile. Regardless of the reason a trip is cancelled, airfare charges need to be reconciled at the time of the cancellation in order for the charge(s) to be allocated to the appropriate department SpeedType.
If you Travel for work, now is the time to familiarize yourself with the revised Business Expense Substantiation & Tax Implications procedures. Effective January 1, 2023, requirements for timely substantiation/submission of business expenses apply to Travel Card and Airfare Card transactions, as well as to employee out-of-pocket reimbursements.
With the revised Finance Procedural Statement Business Expense Substantiation & Tax Implications, effective January 1, 2023, requirements for timely substantiation/submission of business expenses apply to commercial credit card transactions – including Procurement Card – in addition to employee reimbursements.
This is an informational message to the CU Community. Effective January 1, 2023, the PSC will release updated PO terms and conditions (Ts & Cs) to reduce the number of purchases that require a full contract. Based on the experience of peer institutions, CU anticipates that the new Ts & Cs will reduce the number of contracts by 20%, which will result in improved requisition processing time.
The Procurement Service Center (PSC) and Office of University Controller (OUC) have recently researched and clarified aspects of the current Business Expense Reimbursement policy. The result is the revised Finance Procedural Statement Business Expense Substantiation & Tax Implications, which is planned to take effect on January 1, 2023.
The University of Colorado has developed policies related to the processing of commercial credit card transactions (Procurement Card, Travel Card, Airfare Card), cash advances, and employee reimbursements that meet the IRS definition of an accountable plan.
