Common use of Financial Documentation Clause in Contracts

Financial Documentation. CONTRACTOR shall retain original expense documentation, including proof of payment and accrued liabilities. Documentation shall include canceled checks, invoices annotated with date paid, check number, annotated receipts, payroll ledgers, and accounts payable ledgers. All documentation will have appropriate approval signatures. Documentation of costs which are allocable to more than one line item and/or which are only partially allocable to the Project Budget shall be annotated with amounts allocated to each source. SAMPLE All direct costs that are charged to this Contract shall be for reasonable and necessary activities relating to the Contract. All costs not charged as a direct cost must be justified by the application of an allowable Indirect Cost Allocation Plan and/or allocation methodology. CONTRACTOR shall maintain written cost allocation plans for all allocated costs charged to this contract. All costs applied to this Contract must be consistent with the requirements of Federal Regulations including 2CFR Part 200. All allocation methodologies and costs pertaining to this Agreement are subject to Worksystems review and approval before reimbursement through Worksystems. For participant direct payments, the CONTRACTOR is responsible for documenting payments in accordance with applicable Worksystems policies and procedures and for reporting detail as required by the Funder (the “Funder” is the Pass-Through Entity, the Awarding Agency, or, if both are identified in the Contract, collectively, both). Worksystems will notify CONTRACTOR when there are specific reporting requirements. Copies of all source documentation for expenditures related to this contract including any documentation related to matching or leverage funds must be available to Worksystems upon request. Any additional documentation requirements will be specified in Exhibit B.

Financial Documentation. CONTRACTOR shall retain original expense documentation, including proof of payment and accrued liabilities. Documentation shall include canceled checks, invoices annotated with date paid, check number, annotated receipts, payroll ledgers, and accounts payable ledgers. All documentation will have appropriate approval signatures. Documentation of costs which are allocable to more than one line item and/or which are only partially allocable to the Project Budget shall be annotated with amounts allocated to each source. SAMPLE All direct costs that are charged to this Contract shall be for reasonable and necessary activities relating to the Contract. All costs not charged as a direct cost must be justified by the application of an allowable Indirect Cost Allocation Plan and/or allocation methodology. CONTRACTOR shall maintain written cost allocation plans for all allocated costs charged to this contract. All costs applied to this Contract must be consistent with the requirements of Federal Regulations including 2CFR Part 200. All allocation methodologies and costs pertaining to this Agreement are subject to Worksystems review and approval before reimbursement through Worksystems. For participant direct payments, the CONTRACTOR is responsible for documenting payments in accordance with applicable Worksystems policies and procedures and for reporting detail as required by the Funder (the “Funder” is the Pass-Through Entity, the Awarding Agency, or, if both are identified in the Contract, collectively, both). Worksystems will notify CONTRACTOR when there are specific reporting requirements. Copies of all source documentation for expenditures related to this contract including any documentation related to matching or leverage funds must be available to Worksystems upon request. Any additional documentation requirements will be specified in Exhibit B.

Financial Documentation. CONTRACTOR shall retain original expense documentation, including proof of payment and accrued liabilities. Documentation shall include canceled checks, invoices annotated with date paid, check number, annotated receipts, payroll ledgers, and and/or accounts payable ledgers. All ledgers and all documentation will have appropriate approval signatures. Documentation of costs which are allocable to more than one line item and/or which are only partially allocable to the Project Budget shall be annotated with amounts allocated to each source. SAMPLE All direct costs that are charged to this Contract shall be for reasonable and necessary activities relating to the Contract. All costs not charged as a direct cost must be justified by the application of an allowable Indirect Cost Allocation Plan and/or allocation methodology. CONTRACTOR shall maintain written cost allocation plans for all allocated costs charged to this contract. All costs applied to this Contract must be consistent with the requirements of Federal Regulations regulations including 2CFR Part 200. All allocation methodologies and costs pertaining to this Agreement agreement are subject to Worksystems review and approval before reimbursement through Worksystems. For participant direct payments, the CONTRACTOR is responsible for documenting payments in accordance with applicable Worksystems policies and procedures and for reporting detail as required by the Funder (the “Funder” is the Pass-Through Entity, the Awarding Agency, or, if both are identified in the Contract, collectively, both). Worksystems will notify CONTRACTOR when there are specific reporting requirementsprocedures. Copies of all source documentation for expenditures related to this contract including any documentation related to matching or leverage funds must be available to Worksystems upon request. Any additional documentation requirements will be specified in Exhibit B.

Financial Documentation. CONTRACTOR shall retain original expense documentation, including proof of payment and accrued liabilities. Documentation shall include canceled checks, invoices annotated with date paid, check number, annotated receipts, payroll ledgers, and and/or accounts payable ledgers. All ledgers and all documentation will have appropriate approval signatures. Documentation of costs which are allocable to more than one line item and/or which are only partially allocable to the Project Budget shall be annotated with amounts allocated to each source. SAMPLE All direct costs that are charged to this Contract shall be for reasonable and necessary activities relating to the Contract. All costs not charged as a direct cost must be justified by the application of an allowable Indirect Cost Allocation Plan and/or allocation methodology. CONTRACTOR shall maintain written cost allocation plans for all allocated costs charged to this contract. All costs applied to this Contract must be consistent with the requirements of Federal Regulations regulations including 2CFR Part 200applicable OMB Circulars. All allocation methodologies and costs pertaining to this Agreement agreement are subject to Worksystems WSI review and approval before reimbursement through WorksystemsWSI. For participant direct payments, the CONTRACTOR is responsible for documenting payments in accordance with applicable Worksystems WSI policies and procedures and for reporting detail as required by the Funder (the “Funder” is the Pass-Through Entity, the Awarding Agency, or, if both are identified in the Contract, collectively, both). Worksystems will notify CONTRACTOR when there are specific reporting requirementsprocedures. Copies of all source documentation for expenditures related to this contract including any documentation related to matching or leverage funds must be available to Worksystems WSI upon request. Any additional documentation requirements will be specified in Exhibit B.