Department of Medicine FM Meeting Updates April 19, 2018 Duy Dang, Manager Daniel Felix, Accountant Daniel Herrera, Accountant Maribel Gomez, Accountant

Agenda Accounts Receivable Fund Closing Tips Cost Transfer Questions

General Ledger: Fund Summary Revenue, Expenses, Cost Center Revenue Account (2xxxxx) The revenue amount earned: Cash could have been collected or not collected yet: check account receivable Expense Account (400000 – 999999) All chargeable costs incurred Cost Center (CC) Lower level of the account number

Accounts Receivable Purpose Record UCLA invoice not yet paid by sponsor Starts the clock for aging report

Recording Revenue and Account Receivable Fund with cost reimbursement payment basis Expenses in excess of Revenue: Revenue – Expenses: $6,519.13 Invoice (#3 in this example) to be created by EFM FM Team for $6,519.13

Recording Revenue and Account Receivable EFM records revenue and account receivable for $6,519.13 (Invoice #3) Debit Account Receivable account (112678) Credit Revenue account (258000)

Recording Revenue and Account Receivable Recording of A/R can be confirmed in the detail general ledger of A/R account (112678) $25,306.63 represents outstanding A/R from invoices #1 and #2 $6,519.13 represents new A/R recorded from invoice #3 $31,825.76 represents total outstanding A/R from invoice #1, #2, and #3

Recording Revenue and Account Receivable Recording of revenue can be confirmed on the fund summary page or in the detail general ledger of revenue account $25,306.63 represents revenue as of 1/31/16 $31,825.76 represents revenue as of 2/28/15 Increase of $6,519.13 represents revenue recorded on 2/13/15

Recording Cash Receipt Invoice # 3 is paid in full: $6,519.13 $31,825.74 represents total outstanding A/R from invoice #1, #2 and #4 Once payments are received for all invoices in full, ending balance will be $0 A B A + B

Revenue and A/R Accounts Sponsor Type Revenue A/R State 218200 111200 Local 220950 112664 Federal   Grants, Cooperative Agreements, Fellowships 221100 111505 Grants DHHS 229000 Contracts 225000 111500 Private Contracts, Personnel Agreements, Clinical Trials 257000 112679 Restricted Grants 258000 112678

Account Receivable Report https://ofsr.it.ucla.edu/FSReports/selection.asp

Account Receivable Report Search by Department code Fund range PI code Sponsor code Or using other parameters available

Sending in Closeout Packet (COP) Fund Closing Tips Sending in Closeout Packet (COP) Justification for: Warning After end date expense Non-Standard end date expense Unallowable Early Termination Work with OCGA/TDG/CTC&SR to amend project end date before starting on the COP

P913 Fund Closing Tips When balance is >25% Have assurance and justification on same letter Or, on COP certification page if assurance and justification can fit

Expense after fund end date to another sponsor research Cost Transfer To Sponsor Research Fund Expense after fund end date to another sponsor research Excessive volume Extreme lateness Questionable allocation Not to cover cost overrun/overdraft

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EFM Team 3 Contact Duy Dang duy.dang@research.ucla.edu 310-206-3006 Robert De Jesus robert.dejesus@research.ucla.edu 310-794-6997 Daniel Felix daniel.felix@research.ucla.edu 310-983-1383 Maribel Gomez maribel.gomez@research.ucla.edu 310-794-2844 Daniel Herrera daniel.herrera@research.ucla.edu 310-267-4855 Ruth Hwang ruth.hwang@research.ucla.edu 310-794-0306 Tiffani Wong tiffani.wong@research.ucla.edu 310-794-3794

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