Understanding the Revenue Received versus Receivable view in the ZFM1 – Funding by Funds Center or Fund Report
To easily identify the expected sponsor payment vs. cash actually received, the revenue received vs receivable view option has been added to the Funding: Funds Center or Fund report.
This view will assist Research Administrators in managing the revenue portion of their restricted funds, specifically in detecting issues related to sponsor payment collection.
When is the Received vs Receivable view applicable?
This Received vs Receivable view is only applicable to a restricted research fund. If the fund is not classified as ‘Research’, then the view will not be available.
The received vs receivable view is suitable when the restricted research fund uses Invoicing as the method of payment (Research Accounting Section, UofT must prepare and send an Invoice to the sponsor in order to initiate payment).
Please note that for research funds sponsored by the Tri-Agencies (NSERC, SSHRC, CIHR and CRC), revenues are posted as cash is received, and therefore the ‘Received vs. Receivable view’ is not advisable.