FAQs

If this is your first job on campus, you must complete a form I-9 and submit to the I-9 office at the Atlas Service Center E17-106.  Once that is done, your department administrator can submit the necessary paperwork to get you set up in  Payroll.

If you are an hourly paid student, you will need to submit the hours you’ve worked before payment can be made. Please check with your department to complete time sheets. Tax forms and direct deposit can be done the same way as it is done for an employee via Atlas. Choose About Me from the navigation bar on the top of the page. Then, go to Money Matters on the left and select Direct Deposit Preferences. Next, select Set Up Your Account and follow the on-screen instructions.

Faculty, salaried staff, graduate students and fellows are paid semimonthly, on the 15th of the month and on the last business day of the month. If either falls on a weekend or holiday, the pay date will be the business day that precedes that weekend or holiday.

Hourly paid service, support and student weekly payday is each Friday. If a holiday falls on a Friday, payday will be on Thursday. 

Yes. All new employees must submit direct deposit information online via Atlas or on paper when they are hired. This policy applies to all employees whether they are paid semimonthly or weekly. 

You can change your tax withholding and bank information online via Atlas. You can also submit changes on paper. 

Because direct deposit is required for all employees you will need to open a bank account to deposit your salary payment. The MIT Federal Credit Union is a convenient option for employees who do not currently have a bank account. The Credit Union offers no fee accounts to MIT employees.

A stop payment needs to be placed on the lost check before we can issue a new one. Send a written request to payroll@mit.edu and be sure to include your name, MIT ID number and the date of the check. Also include a phone number at which you can be contacted when the re-issued check is ready. 

Contact Jo-Anne Chute with the details. She will arrange to have a new tag number placed on the equipment or make sure the traded-in equipment is removed from the property records. 

Notify Richard Janus in Property. He can help identify the equipment and provide information regarding reporting the loss to campus police and the MIT Insurance Office.

After internal needs are met, MIT equipment may become available for donation to non-profits. Visit our WW15 Equipment Exchange.

Certain conditions that need to be met regarding upgrades and components. Briefly summarized:

• The minimum cost for the upgrade must be at least $2,000;
• The purchase requisition must carry the property number of the existing equipment to be upgraded;
• The existing unit must be capital equipment (value greater than or equal to $5,000).

If these conditions are met, then the upgrade should be assigned 421818 capital equipment. 

See the Coding Of Equipment Purchases policy for more information.

For the full rule set for assigning G/Ls, see the Coding Of Equipment Purchases policy.

Briefly stated:

• If the net cost of the item is less than $1,000, assign 420226 Materials and Services or 421900 Computer Supplies and Peripherals;
• If the net cost of the item is between $1,000 and $4,999, assign 421827 Minor Equipment;
• If the net cost is $5,000 or greater, assign 421818 Capital Equipment.

Any item that will last more than a year, is operationally complete and can be identified as stand-alone is considered equipment. Purchases from the following product categories are normally considered equipment: furniture, computer, laboratory, scientific and test equipment, office and service equipment. The difference between Capital and Minor equipment is determined by cost. Computer equipment at MIT is controlled by property record beginning at a cost of $1000 or greater. All Capital equipment is controlled by a property record. 

There is a carryforward process.  For administrative units, requests are made to the EVPT to use the funds in the next fiscal year.  For academic units, the current policy is that unspent general funds are automatically carried forward in the academic unit.  The department has to provide funding or use cost objects with a surplus to cover any cost objects with a deficit.  Faculty controlled accounts and TA Health Insurance accounts must be carried forward in the same cost object.

Contact billing-issues@mit.edu.

Contact ur-issues@mit.edu.

Underrecovery may occur in a research WBS element where overhead specifications (F&A rates or direct cost base) are established at less than the current negotiated federal rates. More information can be found on the Research Administration Services (RAS) page on Underrecovery.

At the end of the fiscal year, all MIT departments should accrue and defer any material expenses and revenues. See the Policies section for more information.

MIT is on a modified accrual basis. At the end of the fiscal year, all obligations incurred but not paid and all revenues earned but not received are recorded, and expenses and revenues relating to subsequent periods are deferred. 

MIT’s fiscal year begins July 1 and ends June 30. The general ledger and all financial reports are produced on a fiscal year basis. 

In a nutshell, MIT has three main tax areas: sales tax, meals and alcohol tax, and unrelated business income tax. Under each category many activities are exempt. In order to determine whether or not your DLC has taxable activity, please contact Jackie Daniels or Alisha Daley on the VPF Tax team.