• Grant renewals (multiyear) with a new budget for the renewal period
• Notify PI/Department of set up completion with FOAP, budget, approvers, end date
• oBilled Accounts Receivable: 14XX
• oCash Receipt Bank Code: from FTMFUND
• oRetainage Accounts Receivable:
• oRevenue Account: from FTMFUND
• oRetainage Amount:
• oUnbilled Accounts Receivable: from FTMFUND
• oRetainage Percent:
• oSend Fund code to Purchasing sets up approval queues.
• oAssign budget to grant.
• FRABUDG Grant Budget
• Grant: Grant Number from FRAGRNT; GO
• oFRAGRNT Grant Maintenance
• oFTMFUND Fund Code Maintenance
• Copy and insert new record
• ■ Change effective date to beginning of renewal period
• ■ Change Expenditure End Date to end of renewal period

Grants Month-End Processing – Revenue Recognition and Indirect Cost Allocation This Banner process calculates and posts indirect costs to grants and recognizes grant revenue.

Responsible position(s):

• Grant Accountant

Required documents and access:

• Banner

Frequency and timing:

• Monthly, after general accounting has completed posting all operating expenses

Steps:

• Determine whether there are any trial balance issues in the grant funds.
• oFGRTBEX Trial Balance Exception Report identifies any funds that are out of balance
• Printer: DATABASE
• ■ Fiscal Year:
• As of Date: month-end
• Include Accrual Period: Y
• Report Type: Summary or Detail
• Chart of Accounts: 1
• Fund Option: All
• From Fund:
• To Fund: