Volume_Milestone_Schedule (VMS) Billing Team
Contact: billvms@umaryland.edu
Bill Volume_Milestone_Schedule is the team that processes all volume, milestone, and scheduled billing for any type of source: 315, 335, 345, 365 or 375 . When you search your award in Quantum Analytics, your award profile card gives you the billing basis of your award. If it is a type: and your billing basis is “Volume” “Milestone” or “Schedule” this is your team. Soon, we will have the team appear on the award profile for ease of identification.
These awards Volume and Milestone require intervention by the departments to place their event-based bills using the following upk. We also have a script to clarify some of the steps. You can find that at this link. You will just be required to provide a SOAPF for any residual or overspending on these awards.
Volume based billings are normally all your clinical trials but may be some other per until billing requirement such as kits etc. (this is random).
Milestone billings are those awards that have a required deliverable to be met before you can bill. They sometimes look like scheduled billings because there is an expectation of time when a deliverable should be completed, however UMB is unable to bill until the deliverable is completed. The only way for SPAC to know this is when the department puts an event into the system to notify us to bill or record the receivable.
Scheduled bills are when your sponsor is paying an award at a fixed price over a period at a fixed amount. You are not required to return any funds if your expense amount is below the awarded amount. These will be closed like volume and milestone billings. The department does not have to provide any information on these awards, they will flow normally. You will just be required to provide a SOAPF for any residual or overspending on these awards.
