Booking and Managing Revenue
PeopleSoft Grants integrates with PeopleSoft Project Costing and PeopleSoft Contracts to send revenue entries for award transactions to PeopleSoft General Ledger. To book revenue entries to PeopleSoft General Ledger, you need to run a series of processes ending with a process to update the tables in PeopleSoft Project Costing and PeopleSoft Contracts.
Before you can run the processes that create and book your revenue accounting entries to PeopleSoft General Ledger, make sure that the underlying revenue structures are in place.
Overall System Level
Because PeopleSoft Grants uses processes and features that are associated with other applications to recognize revenue, make sure that you perform these steps:
Step |
Purpose |
Navigation |
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Define contract asset and revenue account codes. |
Tells the system where to store contract asset information. |
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Define InterUnit templates. |
Associates transaction codes with accounting entry types for which you provide ChartField values to complete partial InterUnit entries. InterUnit transactions involve business units. |
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Define IntraUnit templates. |
Associates transaction codes with accounting entry types for which you provide ChartField values to complete partial Inter/IntraUnit entries. IntraUnit transactions occur within a single PeopleSoft General Ledger business unit and involve more than one value in a lower-level balancing ChartField. |
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Associate the Inter/IntraUnit templates with the PeopleSoft General Ledger business unit. |
Tells the Inter/IntraUnit processor what IntraUnit templates to use to process transactions. |
See Understanding General Ledger Business Units and Options. |
Define Journal Generator templates. |
Converts the entries into a format that PeopleSoft General Ledger can understand. |
General Ledger, Journals, Subsystem Journals, Journal Generator Template |
The Inter/IntraUnit processor automatically creates balanced accounting entries when the entries are out of balance at the business unit level or at a lower level ChartField (like Fund or DeptID).
PeopleSoft Grants (Facilities and Administration)
To tell the system how to process F&A transactions, perform these steps:
Step |
Purpose |
Navigation |
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Define F&A options |
Sets the default values that the system uses when creating F&A entries, which are then sent to PeopleSoft General Ledger. |
See Establishing Facilities and Administration and Direct-Cost Cost-Sharing Options. |
Define F&A offsets |
Tells the system how to apply F&A revenue when the F&A process is run. |
See Establishing Facilities and Administration and Direct-Cost Cost-Sharing Options. |
PeopleSoft Project Costing
To tell the system how to convert resource lines into accounting transactions, perform this step:
Step |
Purpose |
Navigation |
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Define accounting rules |
Tells the system how to convert resource transactions in PeopleSoft Project Costing to accounting lines that are later converted into journal entries by the Journal Generator. |
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PeopleSoft Grants
To create the award substructures that are necessary for transaction processing, perform these steps:
Step |
Purpose |
Navigation |
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Prepare a proposal. |
After you receive funding approval, the proposal provides information that the system uses in the award generation process to create the award substructures. |
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Run the award generation process. |
The system uses information that is entered on the proposal to create the award substructures (such as contract and project information) that are needed for award processing. |
See Generating Awards. |
Update the award profile. |
Provides award notification and award details that the system uses to process and manage award transactions. |
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Establish a project profile. |
Provides information at the project level about how the system should process transactions for the particular award. |
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Establish project activities. |
Provides information at the activity level about how the system should process transactions for the particular award. |
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PeopleSoft Contracts
To make the contract available for billing, revenue recognition, and application engine processing, perform these steps:
Step |
Purpose |
Navigation |
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Assign a billing plan to the contract line. |
Controls when billing occurs. |
Click the Billing Plans link. |
Activate the contract/award. |
Tells the system that the contract is available for Application Engine processing. |
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Assign a revenue recognition plan to the contract line. |
Controls when revenue recognition occurs. |
Click the Revenue Plans link. |
Application Engine Processes
To book revenue entries to PeopleSoft General Ledger, run these processes:
Step |
Purpose |
Navigation |
---|---|---|
Run the PeopleSoft Grants F&A process. |
Writes revenue accounting entries for sponsor F&A transactions to the CA_ACCTG_LN_PC table. |
See Processing Facilities and Administration Costs and Adjustments. |
Run the rate-based revenue process (PSA_ACCTGGL). |
Writes revenue for Project Costing/Grants to the CA_ACCTG_LN_PC table. This process picks up rate-based award lines that are linked to as-incurred revenue recognition plans. |
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Run the Journal Generator process. |
Imports the accounting entries that were staged in the CA_ACCTG_LN_PC table into PeopleSoft General Ledger. |
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Run the Journal Generator Update process. |
Takes the completed journal information for the award/contract line and updates the GL_DISTRIB_STATUS on the PROJ_RESOURCE table for your revenue rows to D for distributed |
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