Sponsored and IIA Account Monthly Reconciliation / January 23, 2017 /

Sponsored and IIA Account Monthly Reconciliation

A sample process (courtesy of the School of Molecular Sciences)

Downloading the 611E Report

  1. Go to https://sbs.asu.edu/reports/menun.asp, Advantage Web Reports.
  2. Click on Detail of Funding Uses by Agency/Org (611E-W).
  3. Enter your Advantage UserID and the Fiscal Year.
  4. Enter the Agency/Org (a.k.a. account).
  5. Enter the fiscal month number using the table below. Click Next.

January / 7 / July / 1
February / 8 / August / 2
March / 9 / September / 3
April / 10 / October / 4
May / 11 / November / 5
June / 12 / December / 6
  1. On the next screen, click Display All Object Codes and hit Submit.
  2. If you get an error message saying “No records found,” that means there were no transactions on that account during that month. On the Grant & IIA Reconciliation Tracking spreadsheet, mark the status as No Transactions and proceed to the next account.
  3. At the bottom of the screen, click on Display in Excel.
  4. On the Grant & IIA Reconciliation Tracking spreadsheet, mark the status as 611E Downloaded.
  5. Repeat steps 3 – 8 for the remaining accounts.

Reviewing the 611E

Go through the 611E and identify the charges that need to be documented. You can skip the following transactions:

  • Salaries (7110) and Wages (7120) – Tracked separately via payroll reconciliation
  • Employee-Related Expenses (7200) – Automatically charged as a percentage of salaries/wages based on employee classification (e.g. faculty, staff, grad student)
  • Indirect Costs Recovered (8201) – Automatically charged based on the rate agreement for that particular account
  • $0 or Negative Expense – Back-up documentation only needed for expenses that hit the account

For all other charges, highlight the dollar amount in the Expense column as follows:

  • Yellow – Documentation needed.
  • Blue – If there are multiple charges for one document number, highlight the first charge in yellow and the rest in blue.
  • Green – Documentation saved in an account reconciliation folder.

Example:

  1. Locate document and save in the unit’s account reconciliation folder.
  2. Once all documentation is located for all the charges and saved in the unit account reconciliation folder, all of the expenses on the 611E should be blue or green.
  3. Save a PDF of the color-coded 611E in the account reconciliation folder.
  4. Mark the status on the reconciliation tracking spreadsheet as Ready for Approval.
  5. Request review and signature from authorized unit approver.
  6. Once approved, sign and date the PDF of the 611E and change the status on the unit reconciliation tracking spreadsheet.

Reconciliation Complete

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