The Department/Local Level Managing Unit is responsible for the ongoing reconciliation of billing agreement accounts in GMAS and for ensuring that a final reconciliation occurs to facilitate closeout. As the end of the billing agreement approaches, the Department/Local Level Managing Unit reviews and updates recurring charges and ensures all allocable expenditures post correctly in the general ledger. The OSP Research Finance Post Award Operations (PAO) Team performs an abbreviated closeout after the award ends by requesting the Department/Local Level Managing Unit to confirm the Final Figure and clear any expenditures that were flagged as part of Transaction Monitoring. The PAO Team submits a final invoice based on the Final Figure.
The PAO Team performs any final collection of outstanding receivables, which the OSP Cash Team processes and posts in the GL and GMAS. The closeout of billing agreements in GMAS and the general ledger follows the same process outlined in the Disabling Sponsored Chart of Account Values section.