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
• Entry of Receivable Using Revenue Account
Codes
• Expectations for the Future
Grants Billing Module vs.
Access A/R Database
• Access A/R Database
• Shadow System
• Monitors “True” Accounts Receivable
• Process
Grants Billing Module vs.
Access A/R Database
Invoicing vs. Letter of Credit
• Letter of Credit
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Award Conditions
Types
Reporting Requirements
Timing
Expectations of Fiscal Managers/OSP Specialists
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Current Authorized Amount
End Dates
Corrections
Final Reports and Approval from Financial Officer
Invoicing vs. Letter of Credit
• Invoicing
• Formats
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MSU Standard Invoice (preferred)
MSU Lump Sum
SF-270
Agency Specific Formats
Invoicing vs. Letter of Credit
• Reports
• Not a Mechanism for Requesting
Reimbursement!
• SF-269 (Long and Short Form)
• SF-272 Federal Cash Transaction Report
Invoicing vs. Letter of Credit
• Invoice Checklist
» See Handout
Application of Payments
• Payments from Sponsor
• What happens when the Sponsor sends
the check to the dept?
• Abatements
• Service Centers, Invoice Credits
Application of Payments
• FRAAREV
• Detail Codes
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GCSH
GWIR
GIUJ
GSUB
GCOR
PCON
Application of Payments
• Checks vs. Electronic Payments
• Checks Process
• Wires
» 42RGC (Clearing Account)
• Banner Screens
• FRAAREV
• FRIBDET
• FRIGSUM
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
Reconciling Revenue
• PCON Conversion
• 1257 active grants, 76 remaining from
conversion
• Ties back to FRIGITD
• Worksheet Example
• See Attachment
Revenue Corrections
• Grant to Grant
• Grant to Non-Grant & Vice-Versa
• Returning Funds to the Sponsor
• See Attachment
• Approvals
Sponsor Non Payment
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2nd Requests
Follow –up Phone Calls
Letters
Legal Council
• Prior approval from Financial Officer or Mgmt
Helpful Reports
• ICHIBAN
• Cash Management Report
• Find Payment Report
• Billing Summary Report
• FRAAREV
• Downloading Detail from Banner
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