Purpose
The following guide is intended for Clinical Research Finance Managers who are looking to view or complete the following actions:
· Journal Residual Funds from Clinical Projects to an IADF Discretionary Fund.
· Journal Residual Funds from Clinical Projects to a BSD Program Account.
Action
· Journal Residual Funds from Clinical Projects to an IADF Discretionary Fund
· Generate Burdening Process and Review the Burden Details
· Journal Residual Funds from Clinical Projects to a BSD Program Account
· Generate Burdening Process and Review the Burden Details
Terminology
· Award: Clinical Research Studies Trial (CRS) Awards are grants, funding, or financial support provided to researchers or medical institutions to conduct clinical trials and studies. All clinical study projects managed by OCR/CTFG will start with "CRS".
· Project: Contains financial and demographic information at a more granular level of detail than the award.
· Contract: Vehicle for processing revenue and invoices according to configured methods and controls.
· Burden Schedule: Tool for calculating and applying F&A or any other rate-based add-on cost.
· Project Status: The project status can be Active or Closed.
· Award Status: Award status can be set to Active, Closed, or Expired.
Journal Residual Funds from Clinical Projects to an IADF Discretionary Fund
1. Login using Company Single Sign-On to access your Oracle account.
2. Select Projects.
3. Select Project Financial Management.
4. Select the Taskbar on the right side of the page.
5. Select Manage Unprocessed Costs.
6. Select the Create (+) icon.
7. Enter the below information:
a. Expenditure Batch: This is a unique identifier for the batch of transactions on the spreadsheet.) Ex: SIT2_ATA129-EBV-302_JR
b. Business Unit: University Clinical Research Studied
c. Source: Residual Funds
d. Document: Unaccounted Residual Funds
e. Document Entry: Unaccounted Residual Funds
8. Select OK.
9. Enter the transaction information below:
a. Project Number: Ex: CRS1001252
b. Task Number: 1
c. Expenditure Item Date
d. Expenditure Type: 76908-OGC: Residual Funds Retention
e. Expenditure Organization: Use the same Project Organization that the projects were set up with Ex: 26220-MED Hematology & Oncology
f. Contract: autofills
g. Funding Source: autofills
h. Quantity: 1
i. Original Transaction Reference: A unique reference Ex: SIT2_ATA129-EBV-302_JR
j. Transactional Currency: USD, autofills
k. Transaction Raw Cost: Monetary amount of the transaction - calculated by taking total left over residual amount and dividing it by 1.64 (fringe rate)
l. Expenditure Comments: Residual Transfer - Clinical projects to IADF discretionary projects
10. Navigate to Accounting Details tab.
11. Enter the following fields. Once all fields are entered, select OK.
a. Entity: 607 Biological Sciences Division
b. Organization: Choose a BSD Department or 26220 OR 26090
c. Account: 76908-OGC: Residual Funds Retention
d. Fund: 270500 Individual Discretionary
e. Purpose: 130 Research - Departmental
f. Program: 9999
g. Activity: 99999
h. Site: 999
i. Affiliate: 999
j. Future: 9999
Example - (607-26220-70050-321500-304-9999-99999-999-999-9999)
12. Copy and paste the chart string into the Burden Cost Credit Account (607-26220-76808-270500-130-9999-99999-999-999-9999).
13. Select Save and Close.
14. Select the Import Costs button towards the bottom of the page.
15. Select Yes to the Popup message.
16. Navigate to the Overview tab.
17. At the bottom of the page, expand the Process Monitor.
18. Select the Refresh icon until the task line populates and has a status of Succeeded.
19. Select the Taskbar on the right side of the page and then Manage Project Costs.
20. Enter the search parameters below:
a. Project Number: Ex: CRS1001252
b. Transaction Source: Residual Funds
c. Document: Unaccounted Residual Funds
d. Document Entry: Unaccounted Residual Funds
e. Expenditure Date
21. Select Search.
22. Review and verify all the details in the Transaction generated.
23. Highlight the transaction number associated with the project you just created.
24. Select Actions, Accounting, then Account and Post to Ledger.
25. A popup will notify that accounting has been completed: select the View Accounting button on the popup.
26. Review accounting to ensure it is correct. Note: The residual has not been journaled to the chart string noted above. The IADF team will now pick up the journaled transaction and increase the project budget amount.
Generate Burdening Process and Review the Burden Details
1. Select Taskbar.
2. Select Generate Burden Costs.
3. Enter the process parameters:
a. Business Unit
b. Expenditure Item Through Date: Today's Date
c. Transaction Status: All
4. Select Submit.
5. Navigate to the Taskbar.
6. Select Manage Project Costs.
7. Enter the below search parameters and select search:
a. Project Number
b. Transaction Source: Oracle Fusion Projects
8. Select Search.
9. Refer to the new Burden transactions line generated along with the original line. When the transactions appear, highlight the desired row.
10. Select the drop-down arrow next to the Actions button.
11. Select the option called Accounting - Account in Draft.
12. Select View Accounting on the pop-up message that appears.
13. Review the debit for Raw Cost.
14. Review the credit for Raw Cost Clearing.
15. Select Done.
You have now completed the process of Journaling Residual Funds from Clinical Projects to an IADF Discretionary Fund.
Journal Residual Funds from Clinical Projects to a BSD Program Account
1. Login using Company Single Sign-On to access your Oracle account.
2. Select Projects and then Costs.
3. Select the Taskbar on the right side.
4. Select Manage Unprocessed Costs.
5. Towards the bottom of the page under Search Results, select the Create (+) icon.
6. Enter the below information and then select OK:
a. Expenditure Batch: Ex: Name_Project Name_Initials (This is a unique identifier for the batch of transactions on the spreadsheet)
b. Business Unit: University Clinical Research Studies
c. Source: Residual Funds
d. Document: Unaccounted Residual Funds
e. Document Entry: Unaccounted Residual Funds
7. Under the first section titled Cost Collection Details, enter the transaction information below:
a. Project Number
b. Task Number: 1
c. Expenditure Item Date
d. Expenditure Type: 70050-SAL: Salary - SOM Faculty (Note: Upon completion of the analysis and based on the findings, BSD has determined to charge the Clinical Trial Project for valid expenditures, including salary, benefits, supplies, travel, and other Expense)
e. Expenditure Organization: Use the same Project Organization that the projects were set up with (Example: 26220-MED Hematology & Oncology)
f. Contract: autofills
g. Funding Source: autofills
h. Quantity: 1
i. Original Transaction Reference: A unique reference number (e.g., Initials_Number)
j. Transactional Currency: USD, autofills
k. Transaction Raw Cost: Monetary amount of the transaction
l. Expenditure Comments: Residual Transfer - Clinical projects to BSD Program account
8. Select the Accounting Details tab.
9. Enter the COA details for the Raw Cost Credit Account by selecting the magnifying glass to the right of the box.
10. Enter the fields below. Once all fields are entered, select OK.
a. Entity: 607 Biological Sciences Division
b. Organization: Choose a BSD Department or 26220 OR 26090
c. Account: 70050 (Note: It should be same as Expenditure type.
d. Fund: 321500 (Note: Use New Fund as Clearing Only)
e. Purpose: 304 (Note: Clinical Trials - Non Federal) or 210 (Clinical Trials - Federal) based on your Award Purpose type attached to Award
f. Program: 9999
g. Activity: 99999
h. Site: 999
i. Affiliate: 999
j. Future: 9999
Example - (607-26220-70050-321500-304-9999-99999-999-999-9999)
11. Copy and paste the chart string into the Burden Cost Credit Account. Ex (607-26220-70050-321500-304-9999-99999-999-999-9999).
12. Select Save and Close.
13. Select Import Costs, then Yes.
14. Navigate back to the Overview tab.
15. Navigate to bottom of the page and expand the Process Monitor section.
16. Select the refresh icon until the task line for Import Costs has a status of Succeeded.
17. Select the Taskbar on the right side of the page.
18. Select Mange Project Costs.
19. Enter the search parameters below:
a. Project Number Example: CRS1001399
b. Transaction Source: Residual Funds
c. Document: Unaccounted Residual Funds
d. Document Entry: Unaccounted Residual Funds
e. Expenditure Item Date
20. Once all fields are populated, select Search.
21. Review and verify all the details in the Transaction generated. Highlight the transaction number associated with the project you just created.
22. Select Actions.
23. Select Accounting.
24. Select Account and Post to Ledger.
25. Review accounting to ensure it is correct and select Done. Now the BSD will transfer the funds to the COA BSD Program account as applicable, or charge them directly to residual funds.
Generate Burdening Process and Review the Burden Details
1. Select Taskbar.
2. Select Generate Burden Costs.
3. Enter the process parameters:
a. Business Unit
b. Expenditure Item Through Date: Today's Date
c. Transaction Status: All
4. Select Submit.
5. Navigate to the Taskbar.
6. Select Manage Project Costs.
7. Enter the below search parameters and select search:
a. Project Number
b. Transaction Source: Oracle Fusion Projects
8. Select Search.
9. Refer to the new Burden transactions line generated along with the original line. When the transactions appear, highlight the desired row.
10. Select the drop-down arrow next to the Actions button.
11. Select the option called Accounting - Account in Draft.
12. Select View Accounting on the pop-up message that appears.
13. Review the debit for Raw Cost.
14. Review the credit for Raw Cost Clearing.
15. Select Done.
You have now completed the process of Journaling Residual Funds from Clinical Projects to a BSD Program Account.