Grants Billing functionality in PeopleSoft will enable users to maintain Sponsor billing address information and perform the following:
- Generate invoices
- Draw reports and receivables for grant billings
- Monitor open receivables for outstanding balances
- Record deposits against specific receivables
This article covers the following topics:
- The grants business process
- Major changes from the legacy system
The relationship between award profile, project activities, and accounts receivables is somewhat different in the new system, as pictured here:
The major differences between PeopleSoft Financials and Supply Chain Management (FSCM) and the legacy system include:
- Centralized Sponsor data – all sponsor information, including billing addresses will be centralized in PeopleSoft and maintained by the Controller’s Office
- Invoices and draw reports will be generated in the Billing module based on transactions interfaced from Customer Contracts
- Invoices and draws generate specific Open Items in the Accounts Receivable module
- Payments from Sponsors are processed in the Accounts Receivable module and applied to Open Items
- General Ledger transactions are generated automatically based on the activities applied
Q: What if our Grantors/Sponsors have unique invoicing requirements. Does the system allow for customized invoices?
A: When FSCM goes live, there will be a single standard invoice. For Grantors/Sponsors requiring unique information in their invoice, that information would need to be attached to the standard invoice.
Q: How do users handle invoices created online?
A: Users will need to manually post those entries.
Q: Will users still need to do grants billing and grants invoicing?
A: Yes, while many actions in FSCM are automated, grants billing and invoicing will still need to be entered because those entries are necessary to trigger the follow-on flows into the system.
Q: Are there conditions in which departments receive payments that do not go through the invoicing system?
A: Yes, they will be similar to “dummy” invoices. Appropriate IDs will need to be used to match the payment predictor process.
Q: When processing invoices, will there be options to see the full history of voucher numbers or a paper trail history?
A: Yes, the detail will live in project costing and users will be able to look at the bill and see the individual line items from project resource rows.
Q: What are the matching parameters?
A: Matching parameters will be based on an invoice/sponsor number match with a dollar amount match.
Q: Is the invoice ID the number that is assigned by F$P or is that generated somewhere else?
A: The FSCM generated invoice ID will serve as the primary ID number for all of departmental invoices.
Q: How will allocation happen?
A: It will be the same where the bills originate within customer contracts. Those will generate the appropriate or allocative invoice numbers.
Category: Accounts Receivable
Tags: Grantors, Grants, Sponsors, Invoicing,