Prepaid Grant Billing
Funds received before revenue is earned (no expenditures incurred)
As the advance is utilized by eligible expenditures, revenue is recognized until the advance is depleted.
Account is the only value that changes at each step.
Initial Grant Prepaid Billing: Journal ID begins BI%
Debit Grant AR (103620)
Credit Unearned Grant Revenue (system defaults to 700004, but should be 201090).
Initial accounting string entered in Customer Contract Prepaid Lines (Dept, Fund, Authority, Project, and Activity).
Initial Prepaid Deposit Application to that initial billing: Journal ID begins AR%
Debit Cash (1XXXXX, specific cash account is automatically identified depending on deposit Bank Account)
Credit Grant AR (103620)
Initial accounting string entered in Customer Contract Prepaid Lines (Dept, Fund, Authority, Project, and Activity).
After Expense Transaction or Allocation (System background batch process—GL updated several times per day): Journal ID begins CAPC%
Debit Unbilled AR (100040)
Credit Revenue (444999, 448999, or 449999)
Dept, Fund, Authority, Project, and Activity Inherit from expense transaction (Debit Expenditure, Credit Cash).
Utilization (User process, step 4 in billing—GL updated several times per day): Two Journal IDs, one begins BI% and other begins CAREV%
Debit Grant AR (103620)
Credit Unbilled AR (100040) – BIL analysis Type
Debit Unbilled AR (100040) – UTL analysis Type
Credit Grant AR (103620)
Debit Unearned Grant Revenue (201090).
Credit Unbilled AR (100040) – UTL analysis Type
Dept, Fund, Authority, Project, and Activity Inherit from expense transaction (Debit Expenditure, Credit Cash).
Example attached (needs to be updated):