Billing For Sponsored Projects


Invoices are issued after the billing cycle is run after the PeopleSoft grants module is reconciled and closed for the month.

The month is closed after the last payroll of the month has been posted. Normally, the billing cycle is run during the second week of the month following the prior month end (the billing cycle for the month of September is run during the 2nd week of October) and staff work to review and process invoices as stated in the award’s billing terms and conditions.

If the invoice required is quarterly, then the invoice will be generated in the month following the quarter end.

If the invoice is based on achievement of milestones, the PI needs to alert the billing staff and Eileen Tobin that the milestone has been met and invoicing can commence. The recommended form of communication is email.

Fixed Price Awards

When the sponsor defines an award as “fixed price”, it could mean several different types of conditions:

  • Fixed price, without any conditions, means the sponsor’s award is for a flat amount agreed to at the start of the project. There are typically no invoices issued to the sponsor detailing costs incurred.
  • Fixed price, milestone payments, means the sponsor will pay for work in agreed upon increments after the work has been certified (agreed) to have been completed. Normally, the sponsor requires milestone invoices equal to the amount of the milestone payment
  • Fixed payment, cost reimbursable, means the sponsor only wants to receive a certain number of invoices and/or only wants to make a certain amount of payments during the duration of the award but any remaining unspent funds at the end would be returned to the sponsor.

Final Reports

Contact Eileen Tobin, Director of Sponsored & Cost Accounting, at 4-4908 to find out if the final report has been issued for your sponsored project.

Project Closeout

Due to the various stages for project closeout, the close out begins 60 days after the project end date. By this time, all expenditures should be recorded, encumbrances cleared, and final invoicing should be complete. The final task in the close out process is issuing final financial reports and closeout within the PeopleSoft Grants module.

It is important to note expenditures processed after the grant end date are not guaranteed to be reimbursed by the sponsor (due to being late). Late transactions may also put the University at risk for audit findings and future funding.

No cost extensions must be requested well before the project end date so that the extension is granted prior to the project end date when close out procedures begin. If you have questions about the no cost extension process contact Office of Sponsored Projects.