GRANT BILLING Background Grant Billing is a tool

Transcript:GRANT BILLING Background Grant Billing is a tool:
GRANT BILLING Background Grant Billing is a tool provided within the Research Accounting module of BANNER Finance. It was implemented in August of 2002, three years after MSU began using BANNER. Grant Billing was implemented with the goal of providing FMs with system-generated invoices and reports that can be used to bill or report to sponsors in an accurate, consistent and timely manner. Process The Grant Billing module stores expenditure activity during the billing accrual period as “unbilled “ Every evening the automated deferred grant process runs to create an entry for accrued revenue (credit) and unbilled activity (debit) At the end of your billing term, accounting staff run the billing process to move those expenditures to “billed” to produce an invoice based on your format and frequency choices The billing process reverses the unbilled (credit) and (debits) billed or accounts receivable in Banner Setting up Grant Billing Setup of “Events” happens during grant opening in eGrants The bill and or/report set-up in BANNER is based on the terms of the award by the sponsor The FM is responsible for reviewing the terms of the award and determining the criteria for these events. Setting up Grant Billing FM determines: the format of the bill required by the sponsor the frequency a bill should be submitted to the sponsor where the bill should be sent, physical and email address any applicable billing minimum Determining Bill Format BANNER Grant Billing has the following billing and reporting formats available (we call these printable bill formats as output will be produced to send to a sponsor) MSU Invoice (OSP preferred) or SF270 MSU Report or SF425 If the sponsor requires one of these formats, you would indicate that on the eGrants Worksheet for “BILL- Format” and “Report-Format” Determining Bill Format If the sponsor requires something other than that, you have the following options: SPCL- “Special” This is the format that should be selected if a sponsor has an Agency-specific bill format they require for invoicing. LS- “Lump Sum” This is the format that should be selected if you are billing on set amounts or deliverable based. NOPR- “No Print” This is the format to be selected for all other billing scenarios, such as when all funds are received up front, or the sponsor is on a fixed payment schedule. LOC- “Generic Letter of Credit” This is the format that should be selected if federal