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Reduce Your Cost Transfers
Suppose there was a tool available that enabled you to lower the number of cost transfers you had to process. Would you use it? The good news is that this tool, your departmental ledger, is available and provided to you monthly. At first, you should become familiar with the way the ledger is designed and what information it contains. Most departmental fiscal staff are excited to learn that once they invest the time to reconcile their books each month, it really saves them time in the long run.
There are many positive results when you reconcile your ledgers each month. For example, if a charge appears on your account that should not be there, you'll notice it. Also, you can identify CAS violations and negative budget balances in a proactive manner. This will lower your number of cost transfers at the close of an account. Monitoring your accounts for CAS violations, cost overruns and miscoded charges will enable you to address issues before they turn into potentially difficult situations.
If you want to learn more about reading your DL, SAMAS classes offer assistance. Feel free to contact your grant specialist in C&G with any questions as well. It's exciting to know that each month you are provided with a tool that can make your job a little easier and your life a little less stressful. The key is to utilize the tool.
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