Accounts Receivable
Tracy Reda and Katie Johnson are the Accounts Receivable Leads in the Research Business Office.
Useful Links:
Miscellaneous Receipt
Accounts Receivable Module in Oracle
Credit Card Activity Report [Excel]
Intra-U [Excel]
Instructions for Submitting Deposits
Deposits come in three forms: program income, revenue and expenditure reduction.
Program Income
Program income is defined as the gross income earned by a recipient from activities of which part or all of the cost is borne either as a direct cost by an award or counted as a direct cost toward meeting a cost-share requirement. Examples of program income include fees for services, usage and rental fees, proceeds from conferences such as registration fees and other income that needs to be deposited back into the grant. Note: program income is only applicable to grants and can be in the form of checks, cash, credit card sales, or money orders.
Revenue
Revenue is defined as proceeds from a sale not related to a grant or award. Note: Revenue is applicable to only non-grant related deposits.
Expenditure Reduction
An expenditure reduction is defined as a cost that was originally charged to either a grant or other non-grant account for which the expense needs to be removed (as opposed to being transferred). Note: Expenditure Reductions are applicable to both grant and non-grant activity.
Once a determination is made as to whether the deposit is program income, revenue, or expenditure reduction, the following applies:
Program Income – in the form of checks or cash
The following outlines the procedures to be followed by departments when depositing program income in the form of checks and/or cash. As with other procedures from the Research Business Office, these procedures may be under review and subject to change.
1. Prepare the REBO program income deposit slip:
2. Endorse checks with one of the following:
If depositing into a RESEARCH CORPORATION account (i.e.,(1000227R), the endorsement should read:
“PAY TO THE ORDER OF
ANY BANK OR BANKER NO PROTEST
FOR DEPOSIT ONLY
WVU RESEARCH CORPORATION
WVU RESEARCH
ACCT. #01411014736”
If depositing into a state account ( i.e., 1000143W), please type (or stamp) the following:
“THE STATE OF WEST VIRGINIA
LOC 4442 – WVU – RESEARCH OFFICE
FOR DEPOSIT ONLY
PAY TO THE ORDER OF
ANY BANK OR BANKER NO PROTEST
ACCT. #01411017212”
3. Prepare a miscellaneous receipt.
The miscellaneous receipt, for all forms of program income, will have the following funding line 99.999999999.x.1110998.999.99999999, where x represents the fund number of the award that is receiving the program income. The fund number can be found by navigating through the Grants View module and finding the award owning fund under Award Management (i.e., View Awards).
4. Make one copy of all checks and one copy of miscellaneous receipt and send originals and copies to Tracy/Katie.
Things to keep in mind:
- Deposits should be forwarded to the business office as soon as income is received and paperwork prepared.
- Checks should be made payable to WVU Research Corp. if depositing into an award ending in an R (i.e., 1000227R) or West Virginia University if depositing into an award ending in a W (i.e., 1000012W).
- The award number should be typed or stamped on each check’s front, upper left hand corner (i.e., 1000227R). This allows easy identification if the central cash management office needs additional information or the check is returned to NSF.
- One copy of all checks should accompany the original checks to be deposited. Without the appropriate number of copies, checks will be returned to the department, thus delaying the process.
- If vendors call the departments inquiring as to the status of their check(s), the following procedures must be followed for each inquiry:
Make a record of the call by providing
1. name of person calling
2. name on the check of inquiry
3. amount of the check of inquiry
4. date and time of telephone inquiry.
Forward this information to Tracy.Reda@mail.wvu.edu
or Katherine.Johnson@mail.wvu.edu
Once program income has been submitted with all the appropriate copies and accounting information, the checks and/or cash will be deposited at the local bank and the receipts sent to cash management for further processing.
Program Income – in the form of credit cards
The following outlines the procedures to be followed by departments when depositing program income in the form of credit cards. As with other procedures from the Research Business Office, these procedures may be under review and subject to change.
1. Prepare the REBO program income deposit slip:
2. Prepare the departmental revenue credit card activity report.
3. Prepare a miscellaneous receipt.
The miscellaneous receipt, for all forms of program income, will have the following funding line 99.999999999.x.1110998.999.99999999, where x represents the fund number of the award that is receiving the program income. The fund number can be found by navigating through the Grants View module and finding the award owning fund under Award Management (i.e., View Awards).
4. Make one copy of the batch close receipt, the departmental revenue credit card activity report and the miscellaneous receipt and send, along with originals, to Tracy/Katie.
Things to keep in mind:
- Batch closes should be done on a daily basis, preferably once a day.
- Departments should reconcile monthly bank statements with their daily batch closes.
Revenue:
1. Prepare miscellaneous receipt, stamp checks (either RC or State), make copies of each, and send to Tracy/Katie at the Research Business Office.
Expenditure Reductions:
If the expenditure reduction is grant related, complete IU with the following description, “MIXED INVOICE” for depositing EXPENDITURE REDUCTION,” along with the amount of the deposit. The payment voucher # of the IU will begin with the first five digits of your DA, followed by a number sequence of your choice, ending with Ex Red i.e., 99.999999999.x.1110998.999.99999999 (same number as will be typed on miscellaneous receipt), and the credit to line will be the funding string of the original charge.
Finally, prepare the miscellaneous receipt (see Program Income section for more on the miscellaneous receipt). Obtain the MAP screen prints of original charge, make one copy of each and send to Tracy/Katie at the Research Business Office.
If the expenditure reduction is non-grant related, an IU is not needed. Prepare the miscellaneous receipt, obtain screen prints of original charge, make one copy of each and send all to
Tracy/Katie.