PeopleSoft Grants Advances (Contract Prepayments)

Sometimes, institutions may prepay for goods or services. This creates a prepaid balance that you can use in the future. Because PeopleSoft Grants uses the prepayment functionality in PeopleSoft Contracts, advances appear on PeopleSoft Grants bills with a description of Advance.

PeopleSoft Contracts enables you to:

  • Store the details of prepaid balances.

  • Bill for direct-purchase prepaid balances.

  • Process the utilization of prepaid balances.

  • Monitor and control the depletion of prepaid balances over time.

When you establish a prepaid amount, you must assign it to a billing plan. You can either create a new billing plan for the prepaid amount or assign the prepaid amount to an existing billing plan that is associated with fixed-fee contract lines. The billing plan determines the timing and parameters of the initial prepaid billing.

In addition to linking the prepaid amount to a billing plan, you must determine the parameters against which the prepaid balance can be utilized. You can choose to use the prepaid balance against any of these activities:

  • All billing activity for all (or some) rate-based contract lines that are contained in the contract.

  • All billing activity for one rate-based contract line that is contained in the contract.

  • All billing activity for a particular project or activity that is associated with a rate-based contract line that is contained in the contract.

  • A portion of the billing activity that is based on resource type or resource category for any of the preceding.

When PeopleSoft Contracts sends rate-based billing activity to PeopleSoft Billing, PeopleSoft Contracts creates additional utilization rows and sends those to PeopleSoft Billing to net out billable amounts. As these rows are sent to PeopleSoft Billing, the prepaid committed amount is increased. After you run the Billing to Projects/Contracts Interface process to finalize billing, the prepaid remaining amount is decremented appropriately. In addition, the system sends the utilization rows back to PeopleSoft Project Costing for analysis and to adjust the balance sheet accounting. The utilization process continues until the prepaid balance equals zero.

Here is a high-level overview of the steps that are involved in setting up and processing advances:

Step Navigation

Generate an award from PeopleSoft Grants.

Grants, and then Proposals, and then Generate Award

Enter the advance amount in the Prepaid pages in PeopleSoft Contracts.

Customer Contracts, and then Create and Amend, and then General Information, and then Prepaids

Define an initial billing plan in PeopleSoft Contracts.

Customer Contracts, and then Schedule and Process Billing, and then Define Billing Plan

Define any applicable utilization criteria in PeopleSoft Contracts.

Customer Contracts, and then Determine Price and Terms, and then Prepaid Utilization Rules

Set your Billing Plan in PeopleSoft Contracts for the initial prepaid amount to the Ready status.

Customer Contracts, and then Create and Amend, and then General Information, and then Billing Plans

Then click the link under the Plan column heading.

Run the Contracts/Billing Interface process (CA_BI_INTFC) in PeopleSoft Contracts to pull transaction lines into PeopleSoft Contracts and initiate advance utilization processing.

Customer Contracts, and then Schedule and Process Billing

Then select either Process As Incurred Billing, Process Recurring Billing, or Process Other Billing Methods.

Run the Billing Interface process (BIIF0001) in PeopleSoft Billing.

Billing, and then Interface Transactions, and then Process Billing Interface

Approve the bill lines for the billing worksheet and create a real bill.

Billing, and then Manage Billing Worksheet, and then Update Billing Worksheet

Finalize the prepaid initial billing by running the Billing Finalization Process (BIIVC000).

Billing, and then Generate Invoices, and then Non-Consolidated, and then Finalize and Print Invoices

OR

Billing, and then Generate Invoices, and then Consolidated, and then Finalize & Prnt Consoldtd Bill

Update the Contracts Prepaid tables with the advance billing information by running the Billing to Projects/Contracts Interface process (BIPCC000) in PeopleSoft Billing.

Billing, and then Generate Invoices, and then Utilities, and then Upd Consoldtd Cont & Proj Data

Run the Billing-to-Projects process (PC_BI_TO_PC) to update the PeopleSoft Project Costing tables with the billed and utilization information.

Project Costing, and then Revenue Collection, and then Retrieve Billing Items

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