Tag: OLT
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What are OLTs and how do they impact invoicing and letter of credit draws?
Every transaction expensed to the award goes through a pricing process to determine if the transaction is below the billing limit established for the award. If the transaction is below the billing limit then the transaction is given an analysis type of BIL (the transaction is available for the next weekly LOC Cash Draw or…
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Overruns and Over-the-Limit Transactions
The Payment Management System (PMS) is a secure, online grants payment platform, which provides awarding agency and grant recipient customers with efficient grant and grant-like payments, cash management, and personal grant accounting, support services. PMS is widely used by NIH for most awards administered by NIH. PMS supports the entire financial assistance payment process for…