{"id":934,"date":"2025-11-17T12:41:06","date_gmt":"2025-11-17T18:41:06","guid":{"rendered":"https:\/\/blogs.und.edu\/research-administration\/?p=934"},"modified":"2025-11-17T12:41:06","modified_gmt":"2025-11-17T18:41:06","slug":"whats-new-in-grants-contracts-accounting","status":"publish","type":"post","link":"https:\/\/blogs.und.edu\/research-administration\/2025\/11\/whats-new-in-grants-contracts-accounting\/","title":{"rendered":"What’s new in Grants & Contracts Accounting"},"content":{"rendered":"

Transaction Monitoring<\/strong><\/p>\n

Transaction monitoring occurs throughout the post award lifecycle, as part of the financial management of an award. Grants & Contracts Accounting (GCA) is implementing a new process to monitor transactions based on a standard list of accounting codes that are deemed higher risk due to prior approval requirements by federal agencies. Expenses charged to sponsor projects that fall into the higher risk category include foreign travel, participant support costs, and overload, to name a few. The purpose of the process is to catch potentially unallowable or questioned costs before they are billed to a sponsor.<\/p>\n

The new process is in addition to the monthly, quarterly and annual financial reporting we currently to do to ensure expenditures being invoiced\/reported are allowable, allocable, reasonable, and in accordance with the terms of each award.<\/p>\n

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New Account Code Series<\/strong><\/p>\n

New account code series for charging human subject payments and other related activities. The new series will make it easier to review these expenses as a separate category on the PI report. Additionally, it should eliminate charging human subject activity expenses to participant support costs*, which is inappropriate and unallowable. The new account code series is as follows:<\/p>\n