Rounding Issue with Revenue and Invoices for Grants Accounting
Last updated on APRIL 21, 2015
Applies to:Oracle Grants Accounting - Version 126.96.36.199 to 12.2 [Release 11.5.10 to 12.2]
Information in this document applies to any platform.
Standard Accounting practices, and federal and nonfederal sponsor invoicing requirements, require invoices to match award amounts.
When awards are cost based for revenue and invoicing differences arise due to burden calculations differing between actuals, revenue and invoices. These pennies add up over every month on awards impacting payment on cost based awards, letter of credit awards, where the invoicing does not equal actual expenditures including burden cost.
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