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Sponsor ChartField
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Managing Research Funding
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Sponsor ChartField
A new ChartField has been enabled in Grants 2.0 to uniquely identify sponsors (external agencies and internal departments) and provide improved reporting on research activity. The introduction of the Sponsor ChartField makes it possible to report on all activity (i.e., revenue and expense) at the Sponsor level, rather than just on revenue.
Changes and Impacts on Revenue Accounts
The University previously tracked sponsored research using individual revenue accounts. These individual revenue accounts will be replaced by common revenue accounts to represent related third parties. For example, a new common revenue account will be used to report on ‘Canadian Business’. This common revenue account will include business activity with external sponsors like Syncrude, Suncor, and others similar in nature. Individual revenue accounts will no longer exist for each sponsor.
Common revenue accounts simplify reporting for financial statement purposes. For example, a report can be quickly created to present revenue recognized from ‘Canadian Business’ rather than using multiple revenue accounts. Alternatively, management and external reporting beyond the common revenue account is achieved by using the Sponsor ChartField to decipher the specific contributing sponsors (internal or external). The change in revenue accounts, coupled with the Sponsor ChartField, will increase the overall flexibility of reporting at the U of A.
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