Office of Sponsored Research Deposits

Dawn DiLello, Cash/Accounts Receivable Manager, OSRdawn_dilello@unc.edu

08/16/2021

Learning Objectives

• OSR Deposits• OSR Deposit Memo• Payment Reports

o RAM Reportso Tarheel Reports

• Clinical Trial Budget• Helpful Tips

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OSR Deposits01

OSR Deposits

o How does OSR receive payments? ACH/wire Lockbox Paper Checks

o What are those payments for? Payments for OSR invoices or payments on sponsored projects Payments for clinical trials Cash Advance Reconciliations Reimbursements from vendors for supplies, travel, etc. charged to a sponsored project

All of the above payments should only be processed by OSR.Please note that OSR cannot process deposits for departmental funds.

OSR Deposit Memo

• If a department receives a check for any of the previous reasons, it should be delivered to OSR for processing. o Green mailbox on ground floor of AOBo OSR front desk (can obtain receipt if desired)o Campus mail not a preferred method

• To ensure correct payment allocation, a deposit memo has been created to accompany checks. That deposit memo can be found on the OSR Forms & Tools page.

Remittance Advices

Just as the deposit memo is crucial to ensuring proper payment allocation, so are remittance advices. Without such information, it can be difficult to determine where payments rightfully belong. We kindly ask that if you receive any remittances, please send them our way. Also, kindly influence sponsors to include identifying information on ACH payments. Otherwise, payments become unclaimed and are placed on account.

Payment Reports02

RAM ReportsReporting tool used mainly for sponsored projects, not clinical trials

https://tarheelreports.unc.edu/ramreports/

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Look under AR tab for Total Payments

Total Invoiced = 175,305.64Total Payments = 175,305.64

*This is an example for an LOC award.A member of the OSR cash team processesthe draws for this type of award, no physical

invoices are sent to the sponsor. With non LOC awards, an invoice copy can be retrieved via RAMSeS.

OSR Payments Summary, Sponsored Projects Example

https://tarheelreports.unc.edu/tableau/osr_payments_summary/

Total all entries = 175,305.64

*When searching for payment summary on sponsored projects, it is advised to search by Contract Number, to ensure to pull in all projects under that contract

OSR Payments Summary, Clinical Trial Example

When searching for payments posted to clinical trials, the total received will be the balance in account 111002.You can also use tools to look at the revenue posted to the clinical trial.

Other ReportsMore detailed reports are available in TarHeel Reports. One example is the Line Description Report developed for the SOM.

Clinical Trial Budget

Deposits made to clinical trials are converted to budget after the closure of each accounting month when a budget allocation process is run.

Example: Three payments of $100 each are received by OSR and deposited into clinical trial project ABC for the month of August. After the month of August is closed by Accounting

Services, a budget allocation process is run by OSR’s Financial Quality team. $300 will be made available for budget in September on project ABC. The breakdown of direct and indirect budget

is automatically calculated based on the F&A rate for that project.

• Deposit corrections needed for deposits entered by OSR should be directed to OSR, notentered as a correcting journal entry (JE). If for a clinical trial, the JE will not correct the budget.

• Due to sheer volume and the mechanics behind the deposit process, expect a delay of at least two weeksafter receiving notification of payment received to actual payment posting.

• The OSR Cash Team needs remittance advices or identifying information to properly allocate payments.

Helpful Tips