Letter of Credit Processing

The LOC billing process calculates LOC draws based on LOC numbers and summarizes the information by document number.

PeopleSoft Billing can defer a charge. Upon approval of an LOC worksheet that contains deferred bill options, the portion of the line amount that is billed retains the BIL (billable amount) analysis type and is billed. The line that is deferred is given the DEF (deferred amount) analysis type and is written back to the Project Resource table. The deferred amount is then brought back into the PeopleSoft Billing system at a later date when you are running processes that populate the billing worksheet.

The PeopleSoft Contracts application engine process (CA_BI_INTFC) selects resource rows (for rate-based methods) from the Project Resource table for PeopleSoft Grants contracts and creates bill lines in the billing interface tables.

After the Billing Interface process stages the billing data in these tables, the billing interface processes the data to create bills.

PeopleSoft Billing ensures that for all awards that use LOC as the means for obtaining payment, the awarded LOC and LOC document number are carried into the bill header.

With LOC processing, you can:

• Establish funding limits.

• Delete worksheet process instances.

• Defer, write off, or bill each line.

• Print pro formas before finalizing data.