Important changes from WFU Payment Services

Payment Services has announced important changes to the following policies and procedures, effective Jan. 1, 2025.

• Travel, Entertainment, & Business Expense Policy and Procedure
• Accounts Payable Disbursement Procedure
• PCard Manual

Faculty, staff and students who expend University funds are encouraged to review these updated policies, procedures and manuals.

Key changes include shorter documentation deadlines for expense transactions, a new PCard infraction structure, and an increased no-receipt required threshold for travel-related expenses.

Related training courses FIN104(a) and FIN104(b) are available in Workday for the Wake Forest community.

Additionally, the Internal Revenue Service has increased the standard mileage rate from 67 cents per mile to 70 cents per mile. Effective Jan. 1, 2025, the University adopted this rate for all business-related travel. A new Google Maps feature in Workday is available to calculate mileage. When creating your expense report, select the item “Mileage -Employee_Effective Jan 2025” to apply the correct rate.

Email ap@wfu.edu with any questions.