From: Roxanne Finney (rmfinney@nic.edu)
Date: Tue Sep 23 2003 - 17:40:51 EDT
Hello to all of those out there in Bursarland,
Here at North Idaho College (a 2 year community college of about 4,500
students), we are planning to switch from reporting the paid amount to
reporting the billed amount. We in the past few years have actually
been entering the amount paid in box 1. We are switching reporting
methods, since we know we are switching software in the next couple of
years to Datatel, which uses the charged/billed amount. We are
basically rewriting the 1098-T reporting portion of our program we use
now, which is SBI reflections based software. Are there any colleges
out there with the following situation? Any assistance would be greatly
appreciated.
The following question is a question that our Computer Service Dept. has
and I am unsure of the answer?
Are we applying a strict definition of calendar year for the 2003 tax
reporting year since we are switching methods of reporting? I recommend
doing that, but there is an issue. Students who registered for Spring
in November 2002 were billed in November 2002 at time of registration.
If they waited to pay until January 2003, they won't get credit this
year for Spring tuition/fees since we're switching methods from payments
received to amounts billed. Students will get credit for Spring
registrations for 2004 that happen this coming November no matter when
they pay. Should we explain this in our cover letter and/or web page?
I can probably come up with an ad-hoc report that would identify the
group of students and the dollars involved if you would like.
Thank you,
Roxanne Finney, Bursar
North Idaho College
rmfinney@nic.edu
208-666-8003
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