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MANAGING RECEIVABLES

MANAGING RECEIVABLES. Issues Challenges Special Requests Bad Debt. ISSUES Proposals and Contracts -Binding -Multi-institutional Language - PI Requirements - Milestones Detailed receipts. Invoicing Terms Subs off subs Subs to self Carryforward or No-cost extension?.

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MANAGING RECEIVABLES

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  1. MANAGING RECEIVABLES

  2. Issues • Challenges • Special Requests • Bad Debt

  3. ISSUES • Proposals and Contracts • -Binding • -Multi-institutional • Language • - PI Requirements • - Milestones • Detailed receipts

  4. Invoicing Terms • Subs off subs • Subs to self • Carryforward or No-cost extension?

  5. And more Issues…. • Invoice timing • Payroll • Three year contracts • “Truing up”

  6. Challenges • - Joint appointments • -Effort invoicing • -”Floating”

  7. Challenges… • Decentralized departments • PI collaborations and relationships: • Too good? Too bad?

  8. Challenges… • -Time-sensitive budgets; • work schedules; rates; • -Onsite and off-site • -Decentralized departments -

  9. Paying Revised Final Invoices • -Timing • -Credits • -Revising FSRs

  10. Special Requests • Need early invoicing • Unique Vendors • “Pre-bill” and “Pre-spend” • vs. Pre-award Spending

  11. Looks like it might be… • BAD DEBT • Tracking & monitoring • Contacts and colleagues • Collectors

  12. Resolving Bad Debt • Future Projects • Institutional, departmental, or discretionary $$ • Negotiations

  13. Call or email us… • (we both love this stuff) • Robert T. Stemple| Associate Director, Research Finance/Revenue | Partners Healthcare • rstemple@partners.org | 617.954.9319 • Vivian Holmes | Director, Sponsored Research Operations | Broad Institute • vholmes@broadinstitute.org | 617.714.7132

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