Exact(11)
Understand the special procedures and requirements associated with sponsored accounts.
Timely closeout of sponsored accounts is essential to MIT's compliance with sponsored agreements.
"Letter of credit" billing is used to request money for a group of sponsored accounts for certain government agencies.
Sponsored accounts are available for some University affiliates and guests; a University sponsor is required and monthly charges apply.
When one of your DLC's sponsored accounts expires, VPF's Sponsored Accounting team conducts an audit of the account to confirm that it complies with applicable guidelines.
For sponsored accounts it's about a month.
Similar(49)
The airfare difference must be itemized in travel expense reports regardless of whether the flight is charged to a non-sponsored cost object or to a sponsored account that does not allow business/first-class travel.
Sponsored Accounting uses a Scheduled Billing form to request fixed amounts of money on a periodic basis as required by the sponsor.
A Request for an Advance government form is used to request money based on the anticipated monthly expenses associated with a specific sponsored account.
"Cost reimbursement" billing (billing for actual prior month expenses) is used to request money based on the actual monthly expenses associated with a specific sponsored account.
There are circumstances in which it may be necessary to transfer expenditures to or from a sponsored account subsequent to the initial recording of the charge in the general ledger.
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