This procedure covers receiving and depositing grant funding as prepayments.
Event-Based Invoices - Generating
Event-Based Invoices - Reviewing & Approving
Event-Based Invoices - Transfer to AR
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.
The GM Billing Specialist is responsible for identifying all Grants & Contracts (G&S) funds including prepaid award funds and reimbursement for expenditures.
GM Billing Specialist
AR Receipts Specialist
The Comptroller is responsible for ensuring that this document is necessary, reflects actual practice, and supports University policy.
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
Funding a Project
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.
7. Determine whether the prepayment is funding a new award.
If prepayment represents a new award, stop and complete Creating & Revising an Award. Otherwise, goto task #8.
8. Find the appropriate award.
9. Enter new award installment.
N ® Awards ® Find Award ® B ® Find ® Award Management Folder ® B ® Open
Award Management: Installments
Refer to Award Installments
10. Determine whether the prepayment is funding a new project.
If prepayment is funding a new project, stop and complete Creating & Revising a Project and Funding a Project. Otherwise, goto task #11.
11. Based on the Award documentation, generate a draft invoice.
Refer to Invoice Generation & Review in GM
12. Export draft invoices from GM to AR.
13. Notify AR central of amount to post.
The AR Receipts Specialist will then do the following:
End of activity.
Revision: 2 dhw
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