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NEW OBJECT CODES FOR ALL FOREIGN TRAVEL EXPENSES

Due to new IRS reporting requirements, new object codes have been established.

04/09/10

Due to the new IRS tax Form 990 reporting requirements, it is very important that all foreign expenses are identified separately in the accounting records. Therefore, the Business Office has created the following new 5 digit object codes.  (Example: 11-XXXX-55175)

55175 for Foreign Travel
53575 for Contract Services performed in Foreign Countries

Please begin using these object codes immediately for all of your foreign expenses.  Foreign Travel expenses coded to 55175 include items such as airfare to the foreign country, transportation within the foreign country, meals and lodging.   Foreign Contract Services coded to 53575 include any contract services actually performed in a foreign country.   This change does not affect the study abroad programs, because they already have separate project numbers that allow us to identify the different study abroad program expenses.

If you have any questions or have already incurred some foreign travel or contract services expenses this fiscal year (after July 1, 2009), please contact Brenda Thompson or Dayna Charriere with the account number the expenses were charged to so that we can correct the object code.

Contact Info:
Brenda Thompson- Ext 1956 or thompso2@southwestern.edu
Dayna Charriere - Ext 1617 or charried@southwestern.edu