...

...

...

Event-Based Billing

Scope

This procedure covers receiving and depositing grant funding as prepayments.

System References

Award Installments [NAV4050U]

Event-Based Billing [NAV4023U]

Event-Based Invoices - Generating [NAV4070U]

Event-Based Invoices - Reviewing & Approving [NAV4123U]

Event-Based Invoices - Transfer to AR [NAV4026U]

Policy

All prepayment monies received at the agency level or directly by the Office of Sponsored Programs (OSP) must be properly deposited by Accounts Receivable (AR) and distributed to correct customer as unapplied.

Policies regarding the relationship between OSP and AR are being developed.

Responsibility

The GM Billing Specialist is responsible for identifying all Grants & Contracts (G&S) funds including prepaid award funds and reimbursement for expenditures.

Distribution

Comptroller

GM Billing Specialist

AR Receipts Specialist

Ownership

The Comptroller is responsible for ensuring that this document is necessary, reflects actual practice, and supports University policy.

Activity Preface

This activity is performed whenever pre-paid award funds are received. All funds must be deposited immediately upon receipt. Prepayments are deposited against a customer as unapplied receipts.

This procedure continues from:

Creating & Revising an Award [PRO4003U]

Funding a Project [PRO4004U]

GM Billing Specialist

1.   Receive prepayment from a sponsor.

2.   Determine whether installment medium was check or electronic deposit or cash.

If electronic deposit, goto task #6.  Otherwise, goto task #3.

3.   Complete a Deposit Form.

4.   Deposit cash or check into bank account within one day of receipt.

5.   Identify funds.

If funds are not identifiable immediately, they should be placed in a suspense account where they will stay until identified.

6.   Notify department of funds received.

• Email departmental personnel that funds have been received including:

• GM Project Manager
• GM Award Manager
• Principal Investigator (PI)

7.   Determine whether the prepayment is funding a new award.

If prepayment represents a new award, stop and complete Creating & Revising an Award [PRO4003U].  Otherwise, goto task #8.

8.   Find the appropriate award.

9.   Enter new award installment.

Grants Management
N ® Awards ® Find Award ® B ® Find ® Award Management Folder ® B ® Open
Award Management: Installments

Refer to Award Installments [NAV4050U]

10. Determine whether the prepayment is funding a new project.

If prepayment is funding a new project, stop and complete Creating & Revising a Project [PRO4001U]  and Funding a Project [PRO4004U].  Otherwise, goto task #11.

11. Based on the Award documentation, generate a draft invoice.

Refer to Invoice Generation & Review in GM [PRO4017U]

12. Export draft invoices from GM to AR.

13. Notify AR central of amount to post.

• E-Mail Accounts Receivable.
• Send AR a copy of deposit slip and check.

The AR Receipts Specialist will then do the following:

• Post Payments in Accounts Receivable
• Process Accounts Receivable Interface report.
• Review Accounts Receivable Interface report for accuracy.

End of activity.

Effective: 06/10/09

Copyright 2004 University of Virginia and Oracle Corporation. All rights reserved.

Oracle® Tutor   Copyright © 1997, 2009, Oracle. All rights reserved.