How to establish control on backdated transactions charged to an award and selecting costs for SEFA
Oracle allows a transaction to be charged to a sponsored project as long as the expenditure item date is within the start and end date of the award/project/task. This can result in cost being charged to an award after we have reported on the schedule of federal expenditures for a fiscal year. How are you handling controlling such costs?
We have considered using the accounting date of a transaction as opposed to the expenditure item date for SEFA however a lot of time there are supplier invoices that come in late and you are allowed some time after the end of fiscal year to book these costs and these need to be included.