From: sburns@smcvt.edu
Date: Wed Sep 24 2003 - 08:48:58 EDT
Please respond to the listserve. We have the same situation where Spring
charges were/are billed in December.
-----Original Message-----
From: Roxanne Finney [mailto:rmfinney@nic.edu]
Sent: Tuesday, September 23, 2003 5:41 PM
To: bursar-l@virginia.edu
Cc: Lisa Clark
Subject: ? regarding changing reporting method
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 <mailto:rmfinney@nic.edu>
208-666-8003
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