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OSP A/R Training

OSP A/R Training. Part 1 Banner vs. Access Database Invoicing vs. Letter of Credit Part 2 Application of Payments Reconciling and Revenue Corrections Best Practices. Grants Billing Module vs. Access A/R Database. Grants Billing Module in Banner Automation

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OSP A/R Training

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  1. OSP A/R Training Part 1 Banner vs. Access Database Invoicing vs. Letter of Credit Part 2 Application of Payments Reconciling and Revenue Corrections Best Practices

  2. Grants Billing Module vs. Access A/R Database • Grants Billing • Module in Banner • Automation • Entry of Receivable Using Revenue Account Codes • Expectations for the Future

  3. Grants Billing Module vs. Access A/R Database • Access A/R Database • Shadow System • Monitors “True” Accounts Receivable • Process

  4. Grants Billing Module vs. Access A/R Database

  5. Invoicing vs. Letter of Credit • Letter of Credit • Award Conditions • Types • Reporting Requirements • Timing • Expectations of Fiscal Managers/OSP Specialists • Current Authorized Amount • End Dates • Corrections • Final Reports and Approval from Financial Officer

  6. Invoicing vs. Letter of Credit • Invoicing • Formats • MSU Standard Invoice (preferred) • MSU Lump Sum • SF-270 • Agency Specific Formats

  7. Invoicing vs. Letter of Credit • Reports • Not a Mechanism for Requesting Reimbursement! • SF-269 (Long and Short Form) • SF-272 Federal Cash Transaction Report

  8. Invoicing vs. Letter of Credit • Invoice Checklist • See Handout

  9. Application of Payments • Payments from Sponsor • What happens when the Sponsor sends the check to the dept? • Abatements • Service Centers, Invoice Credits

  10. Application of Payments • FRAAREV • Detail Codes • GCSH • GWIR • GIUJ • GSUB • GCOR • PCON

  11. Application of Payments • Checks vs. Electronic Payments • Checks Process • Wires • 42RGC (Clearing Account) • Banner Screens • FRAAREV • FRIBDET • FRIGSUM

  12. Application of Payments • Documentation Available • Check Logs • Copies of Check Stubs + Deposit Slips • Inter Unit Journals & Wire Payment Paperwork • Utilize the A/R staff, we can help identify and find the needed documentation

  13. Reconciling Revenue • PCON Conversion • 1257 active grants, 76 remaining from conversion • Ties back to FRIGITD • Worksheet Example • See Attachment

  14. Revenue Corrections • Grant to Grant • Grant to Non-Grant & Vice-Versa • Returning Funds to the Sponsor • See Attachment • Approvals

  15. Sponsor Non Payment • 2nd Requests • Follow –up Phone Calls • Letters • Legal Council • Prior approval from Financial Officer or Mgmt

  16. Helpful Reports • ICHIBAN • Cash Management Report • Find Payment Report • Billing Summary Report • FRAAREV • Downloading Detail from Banner

  17. Best Practices • Follow Billing/Invoicing Matrix • Set Billing Minimums • Use the Cash Management Report to Confirm Invoice Output • Utilize the MSU Report as a Tickler Rather Than an Invoice Format • The ITD Always Accompanies an Invoice • Rollups- Provide Pmt Details to A/R Staff • Bring Invoice Errors to A/R Team’s Attention • Negotiate Invoicing Language if the Sponsor is Requiring Detailed Back Up • Private Sponsors With No Stipulations- Bill Them Upfront Grant Billing is not an Option, IT IS A REQUIREMENT

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