University of Hawaiʻi
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Invoices, Letter of Credit Drawdowns, & Financial Reports

  • Sponsored projects are generally financed as cost reimbursements – expenditures are made on a project and the sponsor is then billed for those expenditures.
  • ORS Accounting is responsible for preparing all sponsored projects invoices and/or drawing down cash on letters-of-credit (LOC) awards for sponsors that use LOC systems instead of invoicing.  ORS Accounting prepares periodic and final financial reports as required by the sponsor.
  • Instructions on how to view periodic and/or final invoices that have been submitted by ORS accounting to the sponsor
  • If a sponsor requires detailed costing information or additional costs breakdown, the departmental fiscal administrators (FAs) are responsible for providing this information to ORS Accounting.
  • Prior to the closeout period, ORS Accounting will request confirmation from FAs and principal investigators (PIs) to ensure all the expenditures are recorded in the UH financial system, KFS.
  • Before confirming closeout to their ORS Accountant for a FINAL Invoice, FINAL LOC drawdown and/or FINAL Financial Report, as required by the sponsor, it is the FA’s responsibility to confirm with the PI that all expenditures are recorded properly in KFS
    • The fiscal administrator should verify and check that:
      • All encumbrance(s) are liquidated in KFS;
      • There are no RCUH FREDI suspense transactions;
      • There are no KFS continuation account transactions that should be transferred to the project account
      • Costs are recorded to correct budget categories;
  • Once ORS Accounting receives the confirmation from the FA to close the account, ORS Accounting will submit the final invoice, final LOC drawdown, and/or final financial report as required. No further expenditures will be allowed, the department/unit will be responsible for all expenditures not included in the finals.
  • If no response or notification by the FA is received within a reasonable amount of time to confirm closeout to finalize an account, ORS Accounting will do the final LOC drawdown and/or file the final invoice and/or final financial report as required and a copy will be sent to the FA, PI, and Dean/Director.  No further expenditures will be allowed, the  department/unit will be responsible for all expenditures not included in the finals.