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 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

Invoicing vs. Letter of Credit Invoicing Formats »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 »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 2 nd 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