OFFICER TRANSACTIONS:
COMPLETE OVERVIEW
Student Organization Finance Office
Transaction Checklist
In the “Officer Resources”
page of the SOFO website,
you can access SOFO’s
Transaction Checklist, which
outlines all the requirements
for SOFO Transactions and
Account Actions. We highly
recommend that you
reference this document
when preparing and
submitting transactions:
https://www.northwestern.edu/
norris/services/sofo/assets/tra
nsaction-checklist4-2019.pdf
Transaction Guidelines
Only authorized officers are allowed
to handle transactions with SOFO
Officers who have submitted a SOFO
quiz, undergone training, and are
currently signed into their respective
accounts
Vouchers must be completed in
Black or Blue ink (no pencil!)
A signed voucher is needed for ALL
transactions
Voucher books can be picked up at
the SOFO office by authorized
officers
Unless otherwise specified, all
transactions are processed in the
form of a check
All transactions take a minimum of
2-4 business days to process (unless
submitted with a rush voucher)
Voucher
Voucher – Example
1. Transaction type
must be selected.
2. Payee Information
needed:
Pay to the order of:
Payee Name
Numerical Amount
“Sum of”/Written
Amount
Expense for: Detailed
description of expense
Voucher – Example
3. Mailing Address (if
needed)
If no address is provided,
the check will be held at
SOFO for pickup by one of
the group officers
Only include an address if
you wish for the check to
be mailed
4. Signatures:
Every voucher requires
the signatures of both
officers and the advisor
When using funds from
an ASG-sponsored line,
the voucher must also be
signed by the group’s ASG
Executive
SOFO Transactions Overview
• A withdrawal from an organization’s account to pay a
person back for personal funds used to facilitate a
group activity.
Reimbursements
• A withdrawal to pay a vendor directly (preferred
method).
Payments
• Movement of funds from one place to another.
Transfers
• A withdrawal from an organization’s account, as an
“advance” of funds to buy goods.
Check Advances
There are four main transactions taken care of at SOFO:
Reimbursements
• General Reimbursements
• Petty Cash Reimbursements ($30 or less)
• Online/Digital Purchase Reimbursements
There are 3 types of reimbursements:
• Voucher
• Signed Original Receipts
• Blank sheet of paper (to tape receipts)
• Adding Machine Tape (to add up receipt totals)
• Petty Cash Pay-Out form (ONLY for Petty Cash)
Required Documentation:
Reimbursements: Requirements
Receipt Requirements:
Advisor Signature
Must be on receipt, not to the side
Date of Purchase
Less than 85 days old
Vendor Contact Information
Name, address, phone
Itemization
Individual items need to be listed on the receipt
Proof of Purchase
Indicates balance paid/zero balance due
Method of Payment
Cash or Credit
Reimbursements: Restrictions
Receipt Restrictions:
No IL sales tax will be reimbursed
IL sales tax on Dine-In restaurant receipts are the one exception
We will accept other types of taxes and fees (e.g. occupancy,
amusement tax)
To avoid paying tax, you may obtain a Tax-Exempt Form from
SOFO prior to your purchase
NO alcohol or tobacco (these will immediately invalidate
any other items on the receipt for reimbursement)
Tip less than or equal to 20% of the receipt subtotal (prior
to taxes) can be reimbursed; anything in excess of 20%
will be refused for reimbursement
If shown on the receipt, the billing information must
match the name of the person being reimbursed
Gift cards can ONLY be reimbursed when the receipt is
accompanied by the recipient’s W-9 (for more
information on W-9s, see the Payments section of this
presentation)
Illinois Sales Tax
To avoid paying IL sales tax,
authorized officers may pick
up one-time use tax-exempt
letters to give to vendors.
To obtain a tax-exempt letter,
you must provide SOFO with
the following information:
Name of the person making the
purchase
Date of purchase
Vendor name
Tax-Exempt Receipt
Submitting Receipts
Formatting Documentation
Blank Sheet of Paper: Tape all
receipts on a blank sheet of
paper.
Make sure that the all the receipt
requirements are visible.
If you split a receipt, make sure
your advisor has signed on all
parts.
Adding Machine Tape: If your
reimbursement includes
multiple receipts, create an
adding tape to add up the total
of all receipts minus sales tax,
and tape this to the blank sheet
of paper with your receipts.
All Formatting materials are available at SOFO
Receipt #1
Receipt #2
Adding Tape
Petty Cash – Reimbursements $30 or less
Petty Cash is a reimbursement that
is less than or equal to $30.00.
If one person is being reimbursed
for multiple receipts and together
they add up to more than $30, it
should be processed as a regular
reimbursement check (not
separate petty cash transactions).
The requirements for petty cash
reimbursement receipts are the
same as the reimbursement
receipt requirements listed earlier.
Petty Cash Pay-Out Form
A Petty Cash Pay-Out Form is
needed for a reimbursement
of $30 or less.
The receipts are attached
directly to this form.
The reimbursement
paperwork is processed
immediately at the SOFO
window and returned to the
officer to be taken to the
Cashier's Office, where they
will distribute the cash value
of the reimbursement,
rather than a check.
Tape receipts on reverse side
Reimbursements – Online Purchases
The receipt requirements for online
purchase reimbursements are the
same. You should treat your order
and shipping confirmation(s) as your
receipt.
Online Receipt Requirements:
Itemization
Advisor Signature
Date of Purchase (<85 days old)
Vendor Contact Information
Proof of Purchase (indicates
balance paid/“your credit card has
been charged $...”)
Purchaser Name
Must match the name of the person
being reimbursed
No IL state sales tax
To avoid paying sales tax on online
orders, you can use the SOFO
procurement card (see “Payments”)
Reimbursements – Online Example
Amazon
Go to “Your Orders,” click on “Order
Details,” select “View or Print
Invoice” for receipt
Make sure the status of the order is
“Shipped on …” as this indicates
that the payment has processed
Reimbursements – Online Example
Uber/Lyft
Submit the email
you receive after
completing the ride
and tip
Remember to tip
less than 20%!
Payments
• Non-Contractual Payment
• Purchase Order
• Donation
• Scholarship/Award
• Contractual Payment
There are 5 types of payments:
• Voucher
• Signed Invoice/Memo/Contract (depending on the type of
payment)
• W-9 or Employee ID (ONLY for payments to individuals)
Required Documentation:
Payments
Payments are used to pay a vendor directly from an organization’s
SOFO account, for goods or services.
Payments are made in the form of a check or credit card payment (i.e.
the SOFO procurement card), depending on how the group decides to
pay the vendor.
We strongly encourage you to use payments as often as possible
(instead of reimbursements) to prevent your members from having to
pay for things out of pocket!
June 7, 2019
Bennison’s Bakery
1000.00
One Thousand and
00
/
100
all the donuts
SOFO
ALL Payments – W-9 Form
ALL Payments require a W-9
Form
for the payee
This is an IRS form that collects
taxpayer information so that a
payee’s income may be recorded
by SOFO, per IRS regulations:
https://www.irs.gov/pub/irs-
pdf/fw9.pdf
The payee name on the voucher
must match the name on the W-
9 exactly
A W-9 Must Be:
Signed pen-to-paper by the
payee (NO digital signatures)
Dated within the current
calendar year
Filled out completely
Payments – Invoice (Non-Contractual)
If your student group receives an
invoice and would like to pay a
company without the use of
personal funds, you may make a
payment by submitting the
invoice to SOFO.
Invoice Requirements:
Original company invoice
Must be an INVOICE (not a
quote/estimate)
Vendor contact information
Itemized list of items being
purchased
Advisor signature
No IL sales tax (a tax-exempt letter
can be obtained from SOFO)
Accompanied by W-9 form
Payments to companies or
individuals for services or rentals
cannot be processed without a
contract (covered later in the
presentation).
Payments – SOFO Procurement Card
The SOFO procurement card is a credit card that you may use to make
payments directly to vendors (this is NOT the same as a group debit card)
Procurement Card Request Requirements:
List of items to be purchased (similar to an invoice)
Vendor Name
Itemization (what will be purchased)
With Amazon, you should create and print a Wish List; with most other vendors, you can simply print out
an itemized Shopping Cart
Advisor Signature (if multiple pages, on every page)
In addition to the documents submitted for these transactions, you must also
send an email to the SOFO Manager that includes:
Group name and voucher number
Link to the Shopping Cart/Product Page or Wish List (Amazon)
Your preferred shipping address
Groups will need to make sure that the IL sales tax is not included on invoices
submitted for procurement card payments (use tax-exempt form).
Exception (Amazon): SOFO has a tax-exempt Amazon account. With all other vendors, you
must establish tax exemption with the vendor before submitting your request to SOFO
(call your company representative or customer service for instructions on tax exemption)
Payments – NU Preferred Vendors
Some vendors have pre-existing agreements with NU that
allow us to purchase goods tax-exempt (and sometimes at a
discount). To make a purchase from a preferred vendor,
please reach out to the SOFO Manager to schedule a
meeting.
List of NU Preferred Vendors:
https://www.northwestern.edu/procurement/purchasing/purchasing
-strategic-sourcing/preferred-vendors/secure/index.html
When meeting with the SOFO Manager, you will need to
submit a list of items to be purchased, including:
Vendor Name
Itemization (please come prepared with the item numbers of each
item to be purchased)
Advisor Signature (if multiple pages, on every page)
On-Campus Shipping Address
Payments – Travel
Travel accommodations can be booked directly through
NU’s travel portal. To make a travel booking, please set
up a meeting with the SOFO Manager.
We strongly encourage you to book travel this way, rather
than having your members or guests pay for travel out of
pocket and wait for reimbursement.
To book travel with the SOFO Manager, you will need the
following traveler information:
Full name, gender, and date of birth (month/day/year) as it appears
on their government-issued ID
Phone number
Payments – Purchase Orders & Donations
Purchase Orders:
Purchase Orders should only be used if specifically
requested by the vendor (this is rare). Should you
receive this request, please reach out to SOFO for
instructions on submitting the payment.
Donations:
Donations to outside entities create tax implications
for the University that must be addressed before the
payment is processed. Should your organization wish
to donate to an outside entity, please reach out to
SOFO well in advance of the intended payment
Payments – Scholarship/Award
A request to provide a scholarship or award to a student
requires that a voucher be marked as a Payment transaction.
The group will also need to submit a signed letter/memo.
Memo Requirements:
Recipient’s name
Amount awarded
Brief description of the scholarship/award
Signatures of both officers and the advisor
ONE of the following:
Recipient’s W-9 form (if recipient is NOT an
NU Employee)
Recipient’s NU ID# (if recipient IS an NU
Employee, including student jobs)
Payments – Contractual
Contractual payments are required whenever terms and conditions exist. They are
used to pay companies or individuals for rentals or services (including performances).
Documentation Requirements:
Invoice (if provided by the vendor), including:
Vendor name and contact information
Itemization
Advisor Signature
Contract:
If provided by the vendor, submit the vendor’s contract agreement
Northwestern Registered Student Organization Agreement (i.e. NU contract form):
https://www.northwestern.edu/studentorgs/org-officers/policy-index/contracts/index.html
Contracts MUST be signed by a University Official Contract Authority
Some Contract Authorities need several weeks’ notice to review and sign a contract, so plan
accordingly!
If you need help finding a Contract Authority, please reach out to SOFO
ONE of the following:
Recipient’s W-9 form (if recipient is NOT an NU Employee)
Recipient’s NU ID# (if recipient IS an NU Employee, including student jobs)
Since your advisor will not be signing on the contract, they must sign the voucher
$
Contract Examples
A Contract Should Be Used For:
Services provided by companies or individuals. A contract must
be used even if the person/entity is not compensated for their
appearance or performance
Some examples of services include speaking, performing,
coaching, refereeing, photography, web page design, parking
valet, musical performances, and disc jockeying
Any transaction that involves terms and conditions
Renting an off-campus venue for an event
Renting a vehicle (Limo, U-Haul, Car Rental)
Purchasing group tickets for off-campus events or shows
(Broadway in Chicago, Great America, Chicago Cubs, group
classes).
Outside caterer, sound/light company, security firm, ambulance
service, and equipment rented for the event.
A corporate sponsorship.
Middle agent agreement to pay a “finders fee” in securing the
act for the student group
A co-promoter agreement when a promoter co-produces a
concert with the student group
IMPORTANT: Contracts
Students should NEVER sign on a contract!
A contract must be signed by a University Contract Signing Authority (NOT you
or your advisor) and by the vendor.
If an invoice involves terms and conditions, it is considered a
contract.
This is most common with rentals
*SOFO cannot reimburse someone who pays out of pocket for
any contractual service (i.e. contracts MUST be processed as
payments).*
Sign on the dotted line
Contract
SOFO will provide a contract
template if a vendor or an
individual to be paid does not
have one drafted.
Contracts Must:
Be completed in ink
Be signed by a University official
(NOT your advisor)
Students should never sign a
contract!
Include the name and contact
information of the payee
Indicate the event date and time
Specify the amount to be paid
When submitting
payments to individuals
employed by NU:
Include the payee’s
Employee/Student ID on
the voucher
These individuals will
be paid directly through
the University payroll.
This is the only type of
payment in which a W-
9 is not required
Payments to NU Employees
SOFO: Mailing Payments
All payments to be mailed by SOFO will be
mailed:
Through Campus Mail
Campus mail adds extra time to the mailing
process and may take up to 2 weeks to get to the
vendor.
With check ONLY (unless otherwise specified)
If a group needs additional documents mailed with
a check they must:
Make a note on the voucher that additional
documents should be mailed.
Submit copies of all documents that need to be
mailed with the check.
Ex: Invoice, contract, etc.
Transfers
• Line Item (Internal) Transfer
• External Transfer
There are 2 types of transfers:
• Voucher
• External Only: Same documentation needed for
a payment or a reimbursement depending on
what the transfer is being used for.
Required Documentation:
Transfers – Line Item (Internal)
Line Item Transfers are funds transferred within
the same account (for accounts with multiple
line items).
These require ONLY a voucher
Usually used to clear a deficit or disperse
budgeted funds to specific line items.
Example of line items: Storage, Spring Break
Trip, Formal Event, Van Rentals
Voucher Requirements:
“Account No.”: line that funds are coming out of
(20XX-XXX-YY)
“Pay to the Order of”: line that funds are going
into (20XX-XXX-ZZ)
Signature of both officers and the advisor
If funds are coming out of an ASG-sponsored line,
the voucher also requires the signature of the
Account Executive (AE) or Group Executive (GE)
Student Org A:
Line Item 1
$$$
Student Org A:
Line Item 2
Transfers – External
External transfers are funds transferred out of
one group’s account into another group’s
account for the purpose of a payment or
reimbursement.
Required Documentation:
Voucher
The receiving organization’s name is written in
the “Pay to the Order of” line
A 20 digit chartstring will be needed for
University departments
See Payment requirements for transfers
functioning as payments
See Reimbursement requirements for
transfers functioning as reimbursements
(for more detailed instructions, reference the
Transaction Checklist on the SOFO website)
Student
Organization A
$$$
Organization B
Transfers – External (NU Financials)
Some external transfer payments will be initiated by other NU
departments. This means that SOFO will not be aware of these
transactions until they have been posted.
Some Examples are:
Motor Pool
On-campus venue reservations
Funding or charges from academic departments
It is very important that officers keep track of these
transactions, because it can take up to 45 days for them to
show up on the group’s audit trail.
These transactions could be debits from the account or
credits to the account.
Ask the department involved for a NU Financials Journal ID#
connected to the transaction, and we can verify that your
group has funds either coming in or going out.
Check Advance
• Voucher – including detailed description of planned
expenditure
Before Purchase
• Signed Original Receipts (Receipt Requirements apply)
• Blank Sheet of Paper (to tape receipts)
• Adding Machine Tape (to add up receipts)
• Check Advance Reconciliation Form
After Purchase
Required Documentation:
Submit Voucher
to SOFO
Pick Up Check
Advance from
SOFO
Make
Expenditures
Reconcile
Check Advance
Receipts at
SOFO
Check Advance
A Check Advance is a check issued from an organization’s account as an
“advance” to buy goods.
It differs from a Payment in that advances are used when an invoice, or receipt,
is not generated until after the sale is complete.
It differs from a Reimbursement in that organization members do not have to
use personal funds to make purchases and wait for reimbursement; rather,
they will make purchases using funds taken out of the group’s SOFO account.
Make
Expenditures
Submit Voucher
and Receipts to
SOFO
Pick Up
Reimbursement
Check from
SOFO
Check Advance Timeline:
Compare
Reimbursement
Timeline
:
Check Advance Restrictions
Check advances may be obtained for amounts ranging
from $31.00 to $500.00.
If more than $500 is needed, groups may take out multiple
check advances.
Check advances can only be made payable to a group’s
treasurer or president.
Groups may make multiple purchases with one check
advance.
Advances may be used for any authorized expenditures
(e.g. munchies, group dinners, etc.) that fall within
University/organizational guidelines.
Check Advance Restrictions ctd.
Advances will be refused if they would put the organization’s
account in deficit.
Advances cannot be used to reimburse officers on past
purchases (a “reimbursement” transaction should be initiated
by voucher instead).
Receipts or invoices dated prior to the check’s distribution from
the SOFO service counter will be refused for reconciliation.
Advances may NEVER be used to pay on contracts
No IL Sales Tax on Receipts
If check advance funds are used to pay IL Sales Tax, the group will
need to deposit the amount spent on tax back into the account in
order to reconcile the advance.
You may request a tax-exempt letter from SOFO to avoid paying
sales tax.
Check Advance Reconciliation
All advances must be reconciled within 30 days from
the date the check is printed
If SOFO does not receive this reconciliation within 30 days, the
account will be FROZEN
Reconciliation works a lot like a reimbursement, in that
you submit all receipts to SOFO for review along with
the reconciliation form
All receipts must follow the same restrictions as those you
would submit for reimbursement, i.e. they must include:
The vendor contact information
Date of purchase
Itemization
Method and proof of payment
Advisor’s signature
Check Advance Reconciliation Form
When requesting a check advance, officers
guess how much money they will need to buy
the items necessary for their organization’s
activity. More often than not, there will be a
difference in the amount disbursed and the
amount used. This is where a check advance
reconciliation form is needed.
Underspent?
Deposit the remaining funds at the Cashier’s
Office and attach the deposit slip to the
reconciliation form.
Overspent?
Turn in a reimbursement voucher for the
amount overspent along with the receipts used
to reconcile the check advance. SOFO will
reimburse for overspent check advances.
Transaction Wrap-Up
• General Reimbursements
• Petty Cash Reimbursements ($30 or less)
• Online/Digital Purchase Reimbursements
Reimbursements
• Non-Contractual Payment
• Purchase Order
• Donation
• Procurement Card
Payments
• Internal (Line Item) Transfer
Transfers
Check Advances
You should now be familiar with the four main transaction types and all of their
sub-types:
• Preferred Vendor
• Travel
• Scholarship/Award
• Contractual Payment
• External Transfer
Bonus: Other Transactions
These do not fall under the four main
transaction types but are nevertheless
important:
Deposits
Rush Vouchers
Motor Pool
Crowdfunding
Deposits – Cashier’s Office
How to deposit funds into your SOFO account:
Deposits may take the form of cash/coins or checks.
Deposits are made at the Cashier’s Office, located to the left of SOFO.
Hours: Monday – Friday, 9AM-4PM
Anyone (not just officers) can make deposits into SOFO accounts.
Please make all checks payable to Northwestern University, with your
group name in the check memo
Record all deposits the group’s ledger.
Deposit Slip
Available at the Cashier’s Office
Include check information and
purpose in the “Description or
Source of Revenue”
Rush Vouchers
Rush vouchers may be submitted in addition to the
original voucher and documentation in order to have
SOFO expedite a transaction.
Rush applies only to the
check making process – we
cannot expedite mailing
checks.
If you need your check to
be mailed quickly, you
should pick it up from our
office and mail it yourself.
A Rush Voucher MUST be
submitted at the same
time as the voucher/check
you wish to be rushed
Rush Vouchers
Same Day Rush:
$20
Must be submitted before 1:00pm
Ready by 4:00pm on the same day
Next Day Rush:
$15
Ready around the time of
submission on the following
business day
SOFO
Rush Voucher #xxxxxx
Filling out a Rush Voucher:
Transaction Type: Transfer
Pay to the Order of: SOFO
Expense for: Rush Voucher
#(voucher being rushed)
Signed by both officers and the
advisor (+AE/GE if applicable)
Motor Pool – Process
Faculty, staff and students can use Motor Pool
vehicles for official University business. Student
Organization use must be authorized by the
Student Organization Finance Office (SOFO).
All drivers must take the defensive driving course
and be awarded certification.
Forms turned into SOFO will be reviewed and sent
to the Motor Pool office on behalf of the student
organization.
Make a Motor Pool reservation before
coming to SOFO.
Go to the Motor Pool website and familiarize
yourself with their policies and procedures:
http://www.northwestern.edu/fm/services/motor-
pool/index.html
Northwestern
Northwestern
Northwestern
Motor Pool – SOFO Form
Bring the completed form
to SOFO:
Deductible: Motor Pool will
charge a deductible of at least
$500 per vehicle in the case of an
accident (and only if there is an
accident).
Student organizations must
have enough funds to cover
the cost of vehicle rental plus
the potential deductible.
Must have the signature of both
officers and the advisor.
If traveling outside the Chicago
area (more than 150 miles), the
Executive Director of Campus Life
will also need to sign.
Motor Pool – SOFO Forms
Only students who have
completed the university’s
Defensive Driving Course
may drive the rented
vehicles. Drivers are
checked by SOFO before
submission.
Ensure that anyone who
will be driving is listed on
the Motor Pool Form.
If you have more drivers
than space on the form,
submit an Additional
Drivers Form.
Crowdfunding – Catalyzer
Organizations wishing to conduct a crowdfunding campaign
MUST do so through the Northwestern University crowdfunding
platform, Catalyzer (more information about the application and
campaigning process can be found on the Catalyzer website):
https://catalyzer.northwestern.edu/
Organizations should NEVER set up independent crowdfunding
campaigns outside of Catalyzer, as these create tax implications
for which the campaign owner may be held personally liable (in
Catalyzer, the University assumes these liabilities)
Bonus: Other Transactions-Wrap Up
You should now also be familiar with:
How and where to make Deposits
What to do if you need to expedite the making
of a check with a Rush Voucher
How to rent vehicles from the University
through Motor Pool
How to set up a crowdfunding campaign
through Catalyzer
