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Staff costs | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-19-research-grants/managing-your-grant/staff12 Aug 2015: Staff costs are imported into the Grants module monthly. Where Staff costs have been incorrectly coded they can be transferred using the Tools/Transfer function in the Expenditure enquiry screen. Costs which fail validation will go to departmental -
Best Practice Guides | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/other-procedures/best-practice-guides6 Oct 2015: The Best Practice Guides offer examples and common scenarios of the procedures in practice. -
Chapter 3 - Chart of Accounts | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-3-chart-accounts4 Sep 2015: Download this chapter in PDF format Version History Version Number Issue date Comments 3.1 Apr 2024 Updated links and terminology Basic, overtime and casual transaction pay codes added to chapter 3.0 Jan 2018 Updated formatting to new FPM style -
Chapter 11: Year-end instructions Jul 2024 | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-11-year-end-instructions22 Jul 2015: Search site. Finance Division. Chapter 11: Year-end instructions Jul 2024. Chapter 11 - Year End Instructions. This chapter contains information on the basis that the University’s year end process works in line with the expected timetable. If -
Chapter 8b - Internal trading | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-8b-internal-trading7 Apr 2015: Download this chapter in PDF format Overview Internal Trading is the process by which goods and services are bought and sold between Cambridge University departments using UFS Accounts Receivable (AR) and Accounts Payable (AP) modules. -
Introduction | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-3-chart-accounts/section-1-overview/introduction4 Sep 2015: What is the chart of accounts? The chart of accounts is the collective name that we give to all our General Ledger account codes. It includes the way the account codes are structured as well as the individual codes themselves. Why is it important? -
Posting petty cash | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-19-research-grants/managing-your-grant/posting12 Aug 2015: Disbursements from petty cash can be charged to a research grant. There is a limit of £25 per item and all petty cash expenditure should be supported by a receipt. -
Use of exchange rates | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-6-non-pay-expenditure/foreign-currency/use5 Aug 2015: Department users are only able to use the Corporate exchange rates (i.e. are unable to enter User exchange rates). CUFS will usually default to this as the Rate Type. If prompted to complete this field when entering a foreign currency transaction, -
Amendments to a grant | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-19-research-grants/ufs-grants-module/amendments12 Aug 2015: Your School Team in the Research Operations Office must be notified of all amendments to a grant, e.g. extensions (cost and no cost), supplementary funding and virement of funds between expenditure categories. -
Chapter 4 - Procurement Procedures | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-4-procurement-procedures30 Mar 2015: This chapter is not currently available to download This chapter is currently being re-written and is unavailable In the interim, guidance may be found in the Purchasing guide This outlines the end-to-end journey for purchasing goods, works and -
Processing goods and services charged without VAT in the UK | Finance …
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-9-vat-and-other-taxes/processing-goods-and6 Aug 2015: The tax code for entering all purchases charged without VAT (within the UK) on CUFS is 'No UK VAT'. This is irrespective of whether the supply is zero-rated, exempt or outside the scope. -
Module close dates | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-11-year-end-instructions/module-close-dates6 Aug 2015: All modules will be closed at 5 pm on the following dates. -
CUDAR action | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-14-accounting-donations-and-grants/procedures-32 Apr 2015: Before releasing a donation, CUDAR will check that the source of funds code is appropriate given the nature of the donation. They will then instruct the Finance Division to transfer the funds. -
University Policy | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-16-fixed-assets/introduction-fixed-assets-031 Mar 2015: Equipment and Books Equipment costing less than £30,000 per individual item: Is written off (termed 'expensed') in the year of purchase. This means that it is not formally recognised as an asset in the University's financial statements. -
Research grants reports/queries | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-2-budgetary-planning-control/monitoring-and-523 Jul 2015: Cognos reports for monitoring grant expenditure at institutional level are available, including a summary report which provides an overview of grants expenditure and remaining budget on active awards. Furthermore, once-off, bespoke Cognos reports -
Successful applications | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-19-research-grants/ufs-grants-module/successful29 Jul 2015: Where applications are successful the sponsor will send an ‘Award Letter’ notifying the Research Operations Office and the applying Principal Investigator (PI). If the department of the PI receive a copy directly from the sponsor they should -
Department segment | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-3-chart-accounts/section-1-overview/department4 Sep 2015: This is used to define the department or institution processing the transaction, e.g. AG for the Finance Division. The first letter can help to indicate the group to which the department belongs. -
Quotations | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-8a-external-trading-and-credit-control/pre-517 Aug 2015: Where a prospective customer has requested a quotation (or it is considered appropriate to issue one), use the template from the Finance Division web page. The issue of a quote and its subsequent acceptance by the customer guarantees the application -
Appendix - Customer numbers | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-8b-internal-trading/appendix-customer-numbers7 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 -
Specific Donations | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-14-accounting-donations-and-grants/spending-12 Apr 2015: Expenditure charged to a specific donation must meet the conditions specified by the donor. Responsibility for ensuring that the terms of specific donations are available for reference and are adhered to rests with the Head of Department. -
Travel expenses | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-6-non-pay-expenditure/processing-suppliers/travel5 Aug 2015: All reimbursements for travel and other expenses are made via the Accounts Payable Module, which means that a payment cannot be made to an individual unless they are on the Suppliers List. If required, refer to new supplier set-up procedures. This -
Internal trading | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-6-non-pay-expenditure/processing-suppliers-15 Aug 2015: AR Invoices are automatically transferred overnight (via an interface) into the receiving department’s AP module. PDF invoice copies are automatically emailed nightly to the receiving department. Departments should be emailing any backup -
Monitoring and further guidance | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-8b-internal-trading/monitoring-and-further7 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 -
Fixed Asset Categories | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-16-fixed-assets/introduction-fixed-assets/fixed31 Mar 2015: Fixed assets within the University are split into three specific categories and presented differently in the financial statements. Equipment Purchased by departments in the normal course of business, including from research grants. -
Foreign currency grants | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-19-research-grants/ufs-grants-module/foreign12 Aug 2015: Grants that are awarded in a foreign currency will be converted to sterling at activation stage, using the University’s foreign exchange policy. The preferred currency for research grants is sterling. For US Dollar and Euro denominated grants the -
Amendments to existing suppliers | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-6-non-pay-expenditure/supplier-database-05 Aug 2015: Amendments to an existing supplier record are only acceptable if they are accompanied by official documentation regarding the relevant change. This may be in the form of a letter from the company stating the change or a copy of an invoice headed -
Pre-sales procedures | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-8a-external-trading-and-credit-control/pre-sales6 Aug 2015: Introduction and overview Heads of Institutions that receive income from the sale of goods or services, including Research, must establish procedures to ensure that all sales are authorised and supplied as agreed. -
Purchasing goods from the EC | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-9-vat-and-other-taxes/purchasing-goods-ec6 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. -
Transfer codes | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-2-budgetary-planning-control/monitoring-and-123 Jul 2015: When transferring costs between sources of funds, it is recommended that the transfer should use the original transaction code wherever possible. However should this not be practical then the generic transfer code of EZXX can be used, but must be -
Estimate income required for the coming year | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-13-trust-funds/management-trust-funds/estimate1 Apr 2015: Calculate the cost of the activities of the trust over the forthcoming year. For salaries, do not forget to include on costs such as employer's NI and pension contributions, as well as the overhead charge. -
How to budget for Trust Funds | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-2-budgetary-planning-control/monitoring/how23 Jul 2015: All trust funds are legally created and have their own deed that details the rules and regulations for the specific fund. -
The Financial Summary Report (Cognos) | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-2-budgetary-planning-control/monitoring-and-023 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. -
Paying a factoring company | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-6-non-pay-expenditure/processing-suppliers/paying5 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 -
Inactive suppliers | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-6-non-pay-expenditure/supplier-database/inactive5 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 -
Availability of funds | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-14-accounting-donations-and-grants/principles-42 Apr 2015: Donations are not available for investment or spending until they have been received and credited to an income account in the relevant Department. -
Activating a grant | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-19-research-grants/ufs-grants-module/activating12 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 -
Source of Funds segment | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-3-chart-accounts/section-1-overview/source-funds4 Sep 2015: What is a Source of Funds? The Source of Funds is the fourth part of the account code. Each four-digit code represents a different source of income. Income and expenditure funded by that income must be recorded against a specific Source of Funds code -
Scientific reports | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-19-research-grants/invoicing-and-income-012 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). -
Payment methods | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-6-non-pay-expenditure/payments/payment-methods5 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 -
What do we mean by budgetary control? | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-2-budgetary-planning-control/introduction/what-do20 Mar 2015: Budgetary control is financial jargon for managing income and expenditure. In practice it means regularly comparing actual income or expenditure to planned income or expenditure to identify whether corrective action is required. -
Staff access to the supplier database | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-6-non-pay-expenditure/supplier-database/staff5 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. -
Specific Endowments | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-14-accounting-donations-and-grants/spending-02 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). -
The active period of research | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-19-research-grants/managing-your-grant/active12 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 -
Monitoring Grants | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-19-research-grants/managing-your-grant/monitoring12 Aug 2015: 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 grants. -
Additional tools that can be used | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-2-budgetary-planning-control/monitoring-and-323 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 -
Non-VAT Registered Suppliers | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-9-vat-and-other-taxes/typical-purchases-uk/non6 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. -
Human Blood and Organs | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-9-vat-and-other-taxes/typical-purchases-uk/human6 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 -
Incorrect purchase order (PO) distributions | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-6-non-pay-expenditure/processing-suppliers-25 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 -
Donation release | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-14-accounting-donations-and-grants/procedures-42 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 -
How and when does the University set its budget? | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-2-budgetary-planning-control/monitoring/how-and23 Jul 2015: Schools and other University Institutions are expected to produce strategic plans. These plans set medium- to long-term priorities and explain how they are to be implemented. The strategic plans are accompanied by detailed financial forecasts.
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