More Science, Less Finance
Most investigators in charge of shared facilities, service centers, etc. have little knowledge of and even less interest in the business side of operations. Invoicing is handled a different way by each facility oftentimes resulting in infrequent billing as well as infrequent payment. Tracking who has paid and who hasn’t is difficult if not impossible. Historical data often is not retained so that when there is a need for reporting, nothing meaningful can be retrieved.
FBS provides a consistent way for facilities to regularly invoice and receive payment, all done paperlessly via the web in very likely a fraction of the time previous methods required. FBS provides a means to validate the grant accounts being used to pay prior to invoices being submitted. FBS can also eliminate internal requisitions by preparing the journal entry needed to transfer funds (from grant account to facility income account) and submitting it electronically to the university financial system providing an almost immediate means of payment. FBS can also handle external customers. Accounts receivables are tracked in the system and automatic late notices can even be sent at set intervals on those invoices for which payment has not been received.
All billing information is retained in FBS available to be generated as a variety of reports. Usage data can be assessed by the investigator or by service/ product. Reports can be run for any time period. Reports run from the website can be downloaded in Excel and saved or shared. FBS is quite simply: Invoicing done.