PeopleSoft Grants Suite
Research Financial Services in partnership with Financial Services and Information Technology is implementing the PeopleSoft Grants Suite for sponsored project awards management. The Grant Suite contains five modules: Grants Management, Projects, Contracts, Billing and Accounts Receivable. The Grants Suite is an entirely web-based solution that manages transitioning proposals into awards, award tracking, subrecipient expense monitoring, facilities and administration processing, comprehensive bill generation, flexible financial reporting and accounts receivable monitoring. The intent of the implementation is to increase operational efficiencies, achieve regulatory compliance, and drive fiscal accountability.
The implementation of the Grants Suite will not impact current University/Department processes. Departments will continue to pay invoices and payroll; process travel claims and submit cost transfers in the same manner since the Compass Implementation on 7/1/2020. Items that you may notice a difference in are:
- The ability to access improved grant data through delivered queries and reports.
- F&A (indirect costs) are calculated by individual expense and are allocated nightly. This is in contrast to the monthly batch allocation previously used.
- Revenue is recognized daily as part of the nightly batch process. This is in contrast to the monthly batch allocation previously used.
- Department staff and the Principal Investigator will receive notices from the system alerting them when the grant is ending.
The PeopleSoft Grants Suite is also used to track promised and required cost share. This functionality will allow the recording and reporting of cost share to be automated instead of being tracked manually. This functionality will not go live at this time. Please look for training to start in June 2020 and the functionality to go live July 1, 2021.
Please feel free to reach out to Tamara-Franklin@ou.edu if you have any questions or concerns.