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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

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

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

12 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.

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

2 Apr 2015: Departments should determine the appropriate source of funds code using the guidance in section Types of Donation for Accounting Purposes, complete the undertaking and return to CUDAR.

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

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

17 Aug 2015: All invoices for sales must be raised in UFS. They must be raised as soon as practically possible after the sale, and at most within one month of the transaction and comply with the VAT regulations. If use of another finance system is essential,

2 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.

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.

2 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.

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

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

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.

31 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.

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.

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

12 Aug 2015: Credit checks The credit control team within Research Accounting credit-check all new sponsors for credit worthiness where possible. Existing sponsors are monitored regularly.