What

Who

When

How Do I

Receive & Deposit Revenue

A.    Direct Deposit to Bank

B.    Deposit to Cashier’s Office

Department

Within 24 business hours of receipt.

(A) Preparation of Direct Bank Deposits and manual journal entry   

(B) Preparation of a University Cashier’s Office Deposits

If an appropriate revenue account does not exist, see: Creating and Revising A Project

Create manual journal entries

Cashier’s Office

(for University  Cashier Deposits)

Daily or when deposits are made.

Install allocation to award

Accounting Services GenAcct@virginia.edu

Accounting Services installs the cash balance annually after year-end close.

Submit request to Accounting Services to increase installment.

Fund Projects

Award Manager

Annually, after notification that installment has been made

Modify Budgets and Funding

1. Increase or first time (Steps 1-10)
2. Decrease (Steps 11-42)

Budget award-project combination

Award Manager

         or

Project Manager

(If the Award Manager so delegates.)

After the beginning of the fiscal year, when funding is complete.

A.      For projects linked to an award for the first time. Creating Award Budgets 

B.    For all existing Award/Projects links: Modify Budgets and Funding (Steps 11-31)

Monitor and reconcile expenditures

Project Manager

All projects should be reviewed by the tenth (10) working day of each month for the previous month’s activity.

See Review Policy.
See GA Review Procedure.
For more information see:
Reconciliation Class.

FM_Expenditure Detail by Project

Monitor budget to actual and projected expenditures at the award-project level

Project  Manager

All projects should be reviewed by the tenth (10) working day of each month for the previous month’s activity.

See Review Policy.
See GA Review Procedure.
For more information see:
Reconciliation Class.

FM Project BBA by Expenditure Type

Monitor budget to actual and projected expenditures at the award level

Award  Manager

All awards should be reviewed by the tenth (10) working day of each month for the previous month’s activity.

See Review Policy.
See GA Review Procedure.
For more information see:
Reconciliation Class.

FM Award BBA by Award Manager

OR

FM Award BBA by Expenditure Type

Review and reconcile revenue deposits, revenue clearing and other general ledger transactions such as: AR, wire payments, cash transfers, ISIS collections, imputed interest postings, etc.

Revenue Project Manager

All revenue projects should be reviewed by the tenth (10) working day of each month for the previous month’s activity.

See Review Policy.
See GA Review Procedure.
For more information see:
Reconciliation Class.

GL Only Project Activity Detail

Monitor Cash Balance

Revenue Project Manager

All revenue projects should be reviewed by the tenth (10) working day of each month for the previous month’s activity.

See Review Policy.
See GA Review Procedure.
For more information see:
Reconciliation Class.

GL_Cash Balance by Project

1.    To verify installment changes

2.    To confirm award installments are fully funded and budgeted.

3.    To determine budget, expenses, and encumbrances for each award summarized by project.

Revenue Project Manager
OR
Award Manager

As needed

UVA PA Revenue vs Installment vs Funding vs Budget vs Expenditure Report

1.    To determine if additional revenue is available to install on awards.

2.    To determine cash balance for a revenue project with expenditures summarized by project.

Award Manager

As needed

UVA PA Installment vs Funding vs Budget vs Expenditure Report

Periodic review to make sure no transactions are posting to your projects through GL

Project Manager

Periodically

GL Only Project Activity Detail