Maintaining accurate and up-to-date letter of credit funding information is an essential component in billing sponsors for work performed. PeopleSoft Update Image 24 introduces new functionality for Grants customers with Letter of Credit awards. With new functionality, customers can import sponsor Letter of Credit funding information from a source CSV file into PeopleSoft using the PeopleSoft Data Export Import Utility (DEIU). For efficient adoption, PeopleSoft delivers file formats supporting both the NSF (ACM$) and DHHS (PMS) payment systems. Sponsors are assigned a Letter of Credit number and file format in the form of a DEIU map ID. Files may be imported from your local machine or from a file path on the application server.
Uploaded source data is reviewable online in the Contracts Workcenter. New actionable exception reports were created comparing information from the sponsor’s source file to the current PeopleSoft Contract information. One report identifies Letter of Credit document IDs (LOC Doc IDs) in the sponsor’s source file that are not yet entered on the Contract line. Through a new prompt in PeopleSoft Contracts, users can assign LOC Doc IDs from the sponsor’s file to the Contract line reducing time for data entry and errors. A second report identifies the opposite - LOC Doc IDs entered on the Contract line not included in the sponsor’s source file. From the exception report, users can update the LOC Doc ID on the Contract line or place the Billing Plan on hold. A third report compares billing limits on the Contract line to the authorized funding amount in the sponsor’s source file. From here, users can navigate to the Contract and to the award, and review the online Letter of Credit summary report. Additional detail and information resources are included in the FSCM Update Image 24 Highlight Video on the PeopleSoft Information Portal and PeopleSoft Online Help for Grants.
The preceding is intended to outline our general product direction. It is intended for information purposes only, and may not be incorporated into any contract. It is not a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. The development, release, and timing of any features or functionality described for Oracle’s products remains at the sole discretion of Oracle.
Author- Joe Willever, Director of Product Management
Oracle PeopleSoft ESA Solutions