Accounting - Closeout
The timely closeout of sponsored programs is critical to the university’s compliance with the terms of the award and for proper accounts management.
If you have an account that needs to be closed, ensure that the following are completed:
- All encumbrances been cleared on this account
- All open commitments been cleared
- All expenses been posted into this account
- The PI submitted their final Technical/Scientific Report
- All reconciliations have been done, and approved
Be sure you to return the FSR Memo and Check List duly signed to email@example.com (if you have not sent one already for any other reason)
Note: an account may not be closed while awaiting sponsor’s final payment. All payments have to be received before an “G” or “Z” account may be closed. Training grants with unliquidated obligations need all unliquidated obligations to be cleared to close early or otherwise must wait until after the last appointment end date which may be a year after the original end date.
For any additional questions you may have or on issues not covered here, please email firstname.lastname@example.org