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

2. Agenda
Accounts Receivable
Fund Closing Tips
Cost Transfer
Questions

3. 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
( – )
All chargeable costs incurred
Cost Center (CC)
Lower level of the account number

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

5. 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

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

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

8. 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, represents revenue as of 1/31/16
$31, represents revenue as of 2/28/15
Increase of $6, represents revenue recorded on 2/13/15

9. Recording Cash Receipt
Invoice # 3 is paid in full: $6,519.13
$31, 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

10. 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

11. Account Receivable Report

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

13. 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

14. 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

15. 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

16. To receive updates, please ensure you are on the ORA listserv
contains information on how to join listserv

17. EFM Team 3 Contact Duy Dang duy.dang@research.ucla.edu 310-206-3006
Robert De Jesus
Daniel Felix
Maribel Gomez
Daniel Herrera
Ruth Hwang
Tiffani Wong

18. Questions