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23 Jul 2015: The primary purpose when monitoring expenditure against a budget is to ensure that expenditure does not exceed either the budget, or its planned or received income. The first problem is how to spot where expenditure has, or will, exceed the budget.

5 Aug 2015: If you come across an invoice that states the payment should be processed to a factoring company, then process the invoice as normal against the actual invoicing company. However, check to ensure that the supplier has been set up with a site named

2 Apr 2015: The procedures for authorisation of Trust Funds and Special Funds expenditure involve explicit approval by a Manager of the Fund and are set out in a separate chapter of the Financial Procedures Manual (Chapter 13 - Trust Funds).

5 Aug 2015: Some departments operate a single card for online and overseas purchases.

5 Aug 2015: To maintain a level of timeliness and good housekeeping within the Supplier database, suppliers who have not been used for over 18 months, and have had no activity, are classed as Inactive. This applies only where there are no open Purchase Orders

5 Aug 2015: The Accounts Payable Team, Finance Division arranges payment. Statements are sent directly to the cardholders’ home address, as provided on the application form, from the credit card service provider.

17 Aug 2015: Standard. Storey's Field Community Trust. 236949. Standard. Latest version 16 April 2024.

12 Aug 2015: The Departmental Administrator and the Principal Investigator will be notified by email once the grant has been activated by the School Team in the Research Operations Office The activation notice will include a link to the sponsor’s terms and

12 Aug 2015: Some research sponsors, eg. Research Councils and the EC, may require a Principal Investigator to submit an interim or final scientific report. These are also known as Individual Grant Reviews (IGR).

4 Sep 2015: Latest version 01 May 2024.

17 Aug 2015: Latest version 17 April 2024.

5 Aug 2015: Each department should designate two individuals to be responsible for requesting new suppliers or amendments. However, many staff may simply require the Supplier database to view suppliers and this is available to anyone with UFS access.

5 Aug 2015: BACS payments All Sterling University Suppliers are paid via BACS (Bankers Automated Clearing System). This is an electronic payment system whereby money can be paid directly into a supplier's UK bank account on a specified day, without the need to

6 Aug 2015: If we purchase something from a supplier in the UK who is not registered for VAT (normally because their turnover is too low), then they will not be able to charge the University VAT and hence the expenditure is entered as 'No UK VAT' on CUFS.

2 Apr 2015: When funds are released they will be credited to the specified department / cost centre / source of funds combination with a transaction code: LFDO "Donations transferred from Development Office" It will also include any interest that has been e

2 Jun 2015: Bribery As defined in the University's Policy against Bribery and Corruption. Certifying Completion of Procurement Services' on-line dispensation form.

7 Apr 2015: Appendix A : Customer numbers for internal departments A list of customer numbers for internal departments can be found under "Department Contacts" Invoicing sub-departments To invoice departments that are sub-ledgers of another department, an a

6 Aug 2015: Human blood and products for therapeutic purposes made of human blood, human (including foetal) organs or tissue for diagnostic or therapeutic purposes or medical research are exempt. Therefore no VAT is charge on the purchase and these purchases

31 Mar 2015: Where Departments are providing funding for land and buildings an internal invoice will not be raised. The recovery of funds will be by journal entry. This is true of both minor works and major projects. The process is as follows: 1.

12 Aug 2015: Costs can only be incurred during the active period of research, i.e. after the start date and before the end date of the grant. After the end date, purchases can be charged if the goods were physically received before the end date. The start date

7 Apr 2015: Accounts Receivable concerns income generated from sales for services rendered with the following steps being involved. Invoice - Raise sales invoice. Send to Customer - Invoice sent to Customer. Receipts - Income collected and receipted. Debt

2 Apr 2015: The Finance Division is responsible for the University's financial policies and accounting procedures: whereas, the Development and Alumni Relations (CUDAR) is responsible for the policy on the solicitation, acceptance and stewardship of

12 Aug 2015: Search site. Finance Division. Monitoring Grants. All departments have access to Cognos, as well as reports within the UFS Grants Module, enabling them to view the latest financial position on their

23 Jul 2015: Where finances can be managed using UFS this is the most efficient way. However, there may be times when off-line systems can add further detail/clarity. For example, trust fund managers may choose to record a simple budget for the fund on an Excel

7 Apr 2015: Reports on UFS It is the responsibility of Heads of Departments and Department Administrators to monitor outstanding / unpaid Internal Trading invoices. As part of month-end procedures for the Accounts Payable module, users are advised to : Run the

31 Mar 2015: Fixed or tangible assets are the physical structures that support the University and are therefore of significant value and are required to be accurately recorded and reported on within the University's financial statements.

5 Aug 2015: If the distribution is incorrect when matching an invoice to a PO, the changes should be made at the invoice processing stage If you feel the PO distributions require altering then: • Within AP, match the PO to the invoice as normal (with the

6 Aug 2015: Latest version 16 April 2024.

6 Aug 2015: From 1 Jan 2021 Following the end of the Brexit Transition Period purchases from suppliers in the EC are treated in a similar manner to those from the rest of the world.

29 Jul 2015: When funds are received from a body external to the university, the following criteria are used to determine if those funds can be classed as a research grant or should be recorded as something else eg. a donation.

11 Aug 2015: The full economic costing methodology was adopted for costing all research grant proposals in September 2005.

31 Mar 2015: Each department should make one or more persons responsible for the fixed assets. Their duties would include: Regular checks to ensure that assets are being correctly maintained. Notification to Fixed Asset Helpdesk of any assets disposals.

23 Jul 2015: A commitment is an agreement or a pledge to assume a financial obligation at a future date e.g. the funds that we are committing to spend with a supplier when we send them a purchase order. UFS is a commitment accounting system.

12 Aug 2015: Any external audit requirements will be included in the terms and conditions of each award. External audits will be arranged by ROO and auditors may need to visit departments to check invoices and payroll information. ROO will contact departments to

2 Apr 2015: CUDAR's 'Procedures for Handling Donations' document explains the detailed University procedures for accepting donations. Departments should use these procedures before approaching any potential donors.

9 Mar 2016: A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Code Commodity MA BATTERIES MAA BATTERY ZINC-CHLORIDE STANDARD, NON-RECHARGEABLE MAB BATTERY ALKALINE LONG-LIFE, NON RECHARGEABLE MAC BATTERY LEAD ACID RECHARGEABLE MAD BATTERY BATTERY NIFE

7 Apr 2015: Transfers of donated funds to other institutions must always be approved by the Head of Department and be in accordance with the terms of the gift and the University's general charitable purposes.

23 Jul 2015: Budgets should be input to UFS on the same transaction codes to which actual expenditure will be coded, as far as possible, otherwise meaningful analysis of Actual versus Budget expenditure is jeopardised at institutional, School and University level

17 Aug 2015: Latest version 16 April 2024 .

23 Jul 2015: The primary consideration when budgeting for a non-Chest activity is to ensure that expenditure does not exceed the funds available. Therefore, the best place to start when budgeting for a non-Chest activity is to calculate the income available.

23 Jul 2015: Income and expenditure on Trust Funds can be monitored using the Cognos General Ledger reports. However, there is a specific report for Trust Funds which summarises the purpose, performance, and activity of each Trust Fund.

23 Jul 2015: All trust funds are legally created and have their own deed that details the rules and regulations for the specific fund.

4 Sep 2015: Latest version 01 May 2024.

1 Apr 2015: Often departmental activities will be funded from a variety of sources that may include income for a trust fund.

5 Aug 2015: Expenditure without supporting receipts/vouchers may be considered by HM Revenue & Customs as a taxable benefit and therefore details should be submitted to the Payroll Section at the end of May for the previous tax year (ending 5 April) as part of

5 Aug 2015: From April 2015, HMRC changed the rules as to how VAT should be accounted for on invoices with a prompt payment discount. Prior to the change, VAT would always be calculated on the discounted value irrespective of whether the discount was actually

18 Aug 2015: Please contact Credit Control Team to discuss further. Latest version 17 April 2024.

18 Aug 2015: Latest version 17 April 2024.

1 Apr 2015: Many departments have surpluses that are held on deposit with the University Deposit Account. Departments are responsible for monitoring account and deposit balances and can process deposit movements themselves through a General Ledger journal.

5 Aug 2015: Suppliers that have been entered more than once onto the Supplier database are identified and deactivated by the Accounts Payable (AP) Team. Suppliers that the University does not wish to trade with in the future, for example, companies that have