Policy

Time Entry and Approval for Non-exempt Employees

Policy Statement

This policy provides guidance to all non-exempt employees, employees who are eligible for overtime under the Fair Labor Standards Act (FLSA), and their Time Approvers regarding the reporting and approval of hours worked and absences.

Reason for Policy

 

Timely and accurate reporting and approval of hours worked and absences taken are important for a variety of reasons....

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Short-Term Operating Advances

Policy Statement

 Harvard only permits a short-term operating advance (STOA) account for human subject payments or short-term projects where use of other payment methods is not feasible. Under a STOA, Harvard cuts a check to an individual (custodian) who manages and disburses the funds on behalf of a project; the custodian must return any unused funds to Harvard by 30 days after the end date of the project.  Harvard requires all tubs that request or maintain STOAs to do the...

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Fellowship Payments and Reimbursements for Students and Non-employee Postdocs/Fellows

 

Policy Statement

Per the IRS, a fellowship is an amount paid to or allowed for the benefit of an individual to aid in the pursuit of that individual’s own study or research. At Harvard, we use the term “fellowships” to refer to a host of payments: awards, stipends, grants, and allowances. Fellowships are generally gross income to the recipient, unless they are qualified payments for required tuition and fees for a degree program.

Generally, student and non-employee...

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Software Accounting Policy (previously Accounting for Internally-Developed Software)

Key Policy Highlights - Download full policy from left sidebar. 

Policy Statement

This policy defines when costs for purchased and internally-developed software or cloud-hosting arrangements must be capitalized at the University. If direction differs between this policy and external regulations, sponsor or donor terms, or other internal policy or procedures, the more restrictive instruction will apply.

Reason for Policy

This policy exists to ensure...

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Accounting for Leases

Policy Statement

This policy establishes accounting treatment of lease agreements entered into by the University, both as a lessee and as a lessor.  There are two types of lease classifications: capital and operating.  The proper lease classification is important because it determines the University’s accounting and reporting requirements.  

Reason for Policy...

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