- What documentation am I required to keep?
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Reconcilers must retain all supporting documentation related to financial transactions.
Note: Signed and dated packing slips should be maintained when appropriate.
Exceptions:
- Petty Cash - original documentation is forwarded to central offices.
- Transactions in ExpenseUVA - unless required by a grant.
- If a document resides electronically in the Integrated System, reconcilers are not required to print it.
- Are documentation requirements different based the sponsor?
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If you have questions regarding documentation requirements for specific sponsors (e.g., NIH, NSF, etc.), contact [email protected].
- How should I store associated documentation?
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Supporting documentation must be filed in such a manner that allows the documents to be readily retrieved and presented when requested for audit review (i.e., by Project-Award combination). This documentation must be retained by the department in accordance with guidelines specified by the Records & Information Management Office to satisfy University, State and federal audit requirements, as well as state and federal records retention requirements.
- Is there a required method for storing documentation?
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There is not a required method for storing documentation.
Some best practices are:
- By Project-Task-Award (PTA) combination, then by date
- By Vendor
- What documentation is needed for a cost transfer?
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When a cost transfer is completed, original documentation should "move" with the associated cost.
- Do I need to gather and maintain P&T receipts from departmental staff?
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This is not a policy requirement. This is a school/departmental decision.
- What is the records management policy?
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Refer to IRM-017: Records Management policy.
For additional information, see the Records & Information Management website.
- Do I need to gather and maintain documentation for transfers of funds from my Grant project/award to a Residual (RG) project/award?
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No. When a transfer from a G-award to RG account occurs, the Fiscal Contact and PI on the project should receive a notice of award. The same documentation is also available in ResearchUVA.
See OSP’s Award Closeout webpage for additional information related to RG accounts.
- What documentation is required for Early Pay Discounts on Sponsored Awards?
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No documentation is required to be kept for the early pay discounts. The documentation can remain where you have it filed with the original transaction.
For additional information on Procurement’s Early Payment Discount Program, review this webpage.
- Do I need to gather and maintain invoices?
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In general, invoice documentation does not need to be gathered or maintained within your school/unit as this is maintained within the Accounts Payable department or within Chrome River (in the case of employee reimbursements). Maintain any proof of any products received/services rendered, if provided and processed locally within your school/unit.
- Do I need to gather and maintain documentation for Internal Service Provider (ISP) expenditures?
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A department is responsible for gathering and maintaining documentation related to ISP expenditures, if the ISP provides a regular receipt or billing notice.
Retention of the documentation is based upon whether the funds are state or local funds or research funds through OSP. Consult with the Records & Information Management Office for additional guidance.
- How do I reconcile eVA (Commonwealth of Virginia’s electronic procurement system) fees?
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You do not need to reconcile or gather documentation for the eVA fees. You can check the top box to mark all eVA fees as reconciled. These charges are automatically allocated to your PTAO based on your transactions.
Additional information regarding eVA can be found on the Procurement website.
- What do the different eVA order types (compliant, non-compliant, etc.) mean and do they require any correcting action?
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eVA order types are just an indicator related to a vendor’s registration status with eVA (Commonwealth of Virginia’s electronic procurement system) and explain the percentage of fees associated with a purchase order (PO) or other transaction (T&E Card, Payment Voucher, etc.).
- eVA Fee-Compliant = transactions are charged at .1% or 1.1% depending on whether or not the vendor is eVA self-registered and has agreed to take on a portion of the fee
- eVA Fee-NonCompliant = transactions are charged at 2%
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No correcting action is needed when reconciling these charges.
Additional information regarding eVA can be found on the Procurement website.