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

• 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