Funds Deposit for 4-2XXXX Accounts为4-2xxxx账户存款.pptVIP

Funds Deposit for 4-2XXXX Accounts Ray Garvey, Accounting Specialist NEWARK GRANTS OFFICE E-mail: rgarvey@andromeda.rutgers.edu Phone Number : (973) 353-1533 Fax Number : (973) 353-1536 Date: 12/08/2005 Time: 8:45AM Funds Deposit Funds Receipts – Funds receipts consist of two types: Checks received when agreements are signed and checks received through the mail as payment on accounts receivable. The Departments/Units should notify the Newark Grants Office of all funds received for 4-2 accounts. Funds Deposit Newark Grants Office prepares invoices based on the signed agreement between the sponsor and Rutgers University; Upon receipt of funds, we update accounting records; Make copies of check and supporting documents; Offset accounts receivable by depositing funds Funds Deposit Example: XYZ Co. awards $30,000.00 for Hanover project, Account # 4-2AAAA, XYZ Co. billing agreement states Monthly cost reimbursement. 1st month activities incur expenses of $1,500.00 Accounting Specialist prepares the invoice # 001for $1,500.00 and mails it to sponsor. The following updating of accounting records are done at the Grants Office: (1) Adds 4-2AAAA-001 invoice, amt. to Access Database; (2) Assigns sub-code 4280 in Access Database (3) reviews, accepts, approves these updates. Funds Deposit (4) Transfer of this data occurs when Access Database interfaces with Online Financial Information System (OFIS); (5) OFIS accepts the data and updates the General Ledger showing a debit to account 0-2AAAA-1450 $1,500.00 FUNDS DEPOSIT (6) When the funds are received from XYZ Co. for invoice #001, the Accounting Specialist offsets the invoice in Acce