![]() It is the responsibility of the Principal Investigator to review these documents and understand the deliverables and deadlines involved, the maximum amounts that can be charged to the fund, and to submit all forms for access and authorization privileges. The insurance journal entry for business owners is: Debit: Drawings (equity account) Credit: Cash/Bank (asset account) The above journal is only used when the business pays for the owner’s personal insurance out of the business bank account. Information regarding Banner User Access, FOAPAL Access, and Fund Authorization will be included as well. The FOAPAL number, start and end dates, reporting responsibilities, budgets, and other pertinent information will be forwarded to you with this notification. Once we have all of the necessary documents needed to set the award up in the system, you will be notified by the Controller's Office or the Accounting Manager at the Women's Center that your award is set up in the financial system and available to be charged. Operating expenses include expense accounts that are necessary to earn operating revenues. Journal entry for the same will be Rent a/c. Once an award has been made, the pre-award contact will notify you of the pending award. Rent is nominal accounts by nature and in this entry, rent is paid therefore it is expense and as per expense, we have to debit expense accounts. Faculty proposals should be submitted through the Office of Sponsored Research. Wellesley Centers for Women (WCW) grants should be submitted through Anna Dore and the WCW Pre-Award office for processing. Proposals for the Dean's Office should be submitted through MaryPat Navins and/or Lori Friedman of the Dean's Office. ![]() ![]() All proposals should be submitted through a pre-award office or contact.
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