Funds Control Module Desktop Users Manual

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Funds Control Module Desktop Users Manual

This chapter contains the product overview.

This chapter covers the following topics:

Definition

Grants Accounting provides organizations with the ability to completely track grants and funded projects from inception to final reporting.

Overview

Grants Accounting extends the functionality of Oracle Projects to provide an integrated award and project management solution for grant receiving organizations. Grants Accounting tracks multi-funded projects and the required compliance terms and conditions by award.

Grants Accounting supports the validation of allowable costs and effective dates, as well as budgetary control, to ensure compliance. Grants Accounting supports the following features to meet the functional requirements of grants management:

Multifunded Projects

The multifunding projects feature allows users to manage complex relationships such as where one award can fund multiple projects, or where one project is funded by multiple awards. Grants Accounting manages complex billing requirements where each award funding the same project can have different indirect cost recovery rates, different billing cycles, and different funding periods. Multi-funding also allows users to control spending against each award.

Award Management

Grants Accounting enables organizations to keep track of award attributes by storing the award name, multiple award references, the original proposal number, CFDA number, budget rules, and other administrative requirements. Data entry of award information is simplified by using user-defined award templates or by copying an existing award.

Grants Accounting stores the start, end, close, and pre-award dates for the award. Users can store attachments on awards to record extraneous information.

Grants Accounting provides users with the ability to keep track of all installments, supplements, and amendments to an award. Users can record both the actual installments received and future commitments, which enables the production of future funding forecasts. Grants Accounting stores the start, end, and close dates for each installment.

Grants Accounting also stores the contacts, reporting requirements, key personnel, and compliance parameters.

Workflow sends notifications to award personnel when an installment is activated.

Workflow also sends notifications to award personnel when an installment nears its end date. The notification lists open Oracle Purchasing and Oracle Payables commitments.

In addition, Grants Accounting sends report notifications to notify recipients that a report due date is pending. This feature ensures the timely submission of required reports.

Funds Control Module Desktop User's Manual Online

Flexible Funds Control by Award

Users can specify the interval for which Grants Accounting must perform funds control. Users can specify whether to check funds available for a period, year, or life of the award.

Grants Accounting allows users to define the level of control for an award and to decide whether to allow transactions that exceed available funds. Users can define the funds control level at the award, task, resource group, or individual resource levels. Grants Accounting supports more than one control level, allows users to define funds control for each award, and vary funds control from one award to another.

Powerful Indirect Costing

Grants Accounting calculates and accounts for the cost of each transaction based on user-defined rates and rules. Total project costs can be tracked by applying a buildup of indirect costs to the direct costs, thus eliminating the need for month-end indirect cost allocations.

Grants Accounting includes indirect cost features that allows users to post indirect cost components such as fringe, overhead, and surcharges to separate general ledger accounts.

Online Invoice Review and Approval

Grants Accounting creates draft invoices for online review and approval based on user-defined billing cycles and invoice formats. When invoices are adjusted online, the source transactions are automatically updated. Reviewing and adjusting invoices online simplifies and shortens the reconciliation process. Grant invoices are interfaced to Accounts Receivables.

Simplified Billing

Award billing cycles can be automated to streamline the process. Invoices based on detail transactions charged to the award are automatically generated using user-defined billing cycles or by using performance milestones. Retroactive rate changes automatically result in credits of new invoices while Grants Accounting maintains an audit trail of previously billed invoices.

Award Status Inquiry

Grants Accounting provides online status of awards using the award status inquiry. For each award, users can view all actual and encumbrance expenditures in total. Grants Accounting provides a complete view of budget and expenditures by resource group across the entire award.

Integration with Oracle Financials

Grants Accounting integrates with Purchasing, Payables, and Projects to allow the entry of grants-related requisitions, purchase orders, and supplier invoices using those products.

Award Security

Grants Accounting provides award-based security to protect data ownership and sensitivity in relation to a given award. Users can define who can access, query, and update award information.

Government Reporting

Grants Accounting provides the standard forms to satisfy government reporting requirements and financial management of awards. The standard forms included are SF1034, SF1035, SF269, SF270, and SF272.

Award Distributions

Award distributions allows users to determine transaction charging instructions for expenditure items based on a predefined funding pattern for cost distribution.

Multiple Organization Support

Funds Control Module Desktop User's Manual 2016

Grants Accounting manages projects and awards from multiple organizations within a single installation. Security features ensure that each operating unit views and processes its own project or award costs and billings, yet the higher level operating unit can view all project costs across operating units and further process those costs and billings.

Multi-Currency

Grants Accounting supports multi-currency transactions. Data can be viewed at the transaction, summary, and manual encumbrance levels. At the transaction level, both actual and functional currency are viewable. At the summary levels, such as Budget, Award Status, and Project Status, only functional currency is viewable. At the manual encumbrance level, only functional currency is viewable.

Integration with Oracle Subledger Accounting

Oracle Subledger Accounting is an intermediate step in the accounting flow between subledger applications and Oracle General Ledger. Epiphone owners manual download free. Grants Accounting generates accounting events for costs and revenue and creates accounting for the accounting events in Oracle Subledger Accounting. Oracle Subledger Accounting stores a complete and balanced subledger journal entry in a common data model for each accounting event that requires accounting. Oracle Subledger Accounting transfers the final accounting to Oracle General Ledger.

You have the option of defining your detailed accounting rules for Grants Accounting in Oracle Subledger Accounting. If you define your own detailed accounting rules in Oracle Subledger Accounting, then Oracle Subledger Accounting overwrites default accounts, or individual segments of accounts, that Grants Accounting derives using AutoAccounting.

Integration with Oracle Labor Distribution

Funds Control Module Desktop User's Manual Pdf

Grants Accounting interfaces with Oracle Labor Distribution to accept summarized distribution lines that capture charging instructions for each employee and apply the labor costs to projects and awards.

Integration with Oracle Grants Proposal

Funds control module desktop user

Grants Accounting integrates with Oracle Grants Proposal to create awards and budgets from funded proposals.

Functionality Differences Between Projects and Grants Accounting

Functionality Differences Between Projects and Grants Accounting
Functionality Grants Accounting Projects
Allowed Costs supported not supported
Award Distribution supported not supported
Award Status Inquiry supported not supported
Billing Extensions not supported supported
Bill Rate Schedules not supported supported
Borrowed and Lent Cross-Charges not supported supported
Budgeting budgeting is by burdened cost only budgeting by burdened cost, raw cost, or quantity
Burden Client Extension not supported supported
Burden Cost burden cost must be accounted as a separate expenditure item burden cost does not have to be a separate expenditure item
Burden Limits supported not supported
Capitalized Interest supported for non-sponsored projects only supported
Contract Projects not supported supported
Encumbrance Batches supported not supported
Event Types not supported supported
Funding funding by award funding by agreement
Funds Check supported supported for commitments
Government Reports supports government reports SF 1034, SF 1035, SF 269, SF 270, SF 272 not supported
Interproject and Intercompany Billing not supported supported
Invoice and Revenue for Capital and Indirect Projects through Award supported not supported
Multifunding multifunding (one award funding multiple projects or multiple awards funding one project) is a feature supported in Grants Accounting multifunding not supported in Projects
Project Allocations not supported supported
Purge Transaction Interface Table not supported supported
User-Defined Revenue Budgets not supported supports user-defined revenue budgets for agreements
User-Defined Transaction Sources see Oracle Grants Accounting Integration with Other Oracle Applications for information on non-supported transaction source options supported