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23 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

29 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

23 Jul 2015: Other/Substitute Teaching. ABAA. BBAA. Non-staff costs. AAAA. Various as appropriate, EXZZ is used as a default.

5 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

5 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

12 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

23 Jul 2015: Calculate cost of planned expenditure. Allow for overheads on stipends if applicable.

5 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

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

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

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: 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: 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).

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: Research Grant expenditure will always be mapped across to a source of funds code MA**. The MA indicates research, the next letter indicating the sponsor type, and the last letter indicates the VAT Status. The sponsor type “letter” is used for

20 Mar 2015: required. For example, most University institutions are given annual Chest allocation budgets for certain staff costs.

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.

12 Aug 2015: The University Procurement Procedures must be followed for the purchase of all items of equipment and the ‘Track as Asset’ box in AP checked for all purchases over £5,000 (including non-recoverable VAT).

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

31 Mar 2015: the Cost, Depreciation and Net Book Value (as of the last Mass Additions process run);. ... original cost.

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: Revenue. Receivables. Tax. The revenue account code must be amended to an appropriate departmental cost centre, source of funds of 'GAAB' and a transaction code in the L range or occasionally ... Post purchase raise a GL journal to transfer the cost to

1 Apr 2015: The Finance Division clears these monthly, by transferring the salary costs to the relevant Trust Funds. ... This is because either the income of the fund is not sufficient to fund a full post, or the income is used to offset general stipend costs within

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.

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.

4 Sep 2015: Transaction codes are used to define the nature of an item in a consistent manner across all departments. As well as income and expenditure transactions, they describe any brought forward balances and items that are recorded on the University’s

2 Apr 2015: A bequest of £200,000 to a department with no conditions or restrictions which the department has decided to use as a contribution towards the cost of a major laboratory. ... They can then be sub-divided using cost centres if required. Setting up a new

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.

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.

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

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

23 Jul 2015: For all institutions, Chest non-staff costs, source of funds AAAA, is fully devolved, so over- or under-spends against budget may be carried forward to the next financial year.

7 Apr 2015: The GL is at the heart of CUFS, collating information from the sub-ledgers of all of the University's financial transactions. The GL is used for processing journals, account enquiries and running reports.

2 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.

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).

23 Jul 2015: A variance is the difference between actual and budgeted income and expenditure. Therefore, at the University, we only get variances in GL (General Ledger) on Chest funded activities. For all other sources of funds budgetary control will be

2 Apr 2015: allowing for related departmental and central costs. the terms of the gift and subsequent wording of regulations.

2 Apr 2015: Where these costs do not relate to either research grant or trading activity there may be some discretion as to where these are charged. ... Telescope cost centre. HTCA  Specific Donation receipt  £1,000,000. EFKM  General Donation receipt  £ 

23 Jul 2015: B. Funded from External Sources. Recoverable costs and related income. C.

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

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.

23 Jul 2015: A budget is the financial representation of a planning process, usually annual. It is finalised before the beginning of a financial year and actual income and expenditure are measured against it as a means of reviewing performance and controlling

10 Aug 2015: Module closes at 5pm on Wednesday 7 August Essential Tasks Final date for completion Physical stock take (all institutions with stores) Wed 31 Jul Update Inventory balances with the results of stock take Wed 7 Aug Process all receipts and issues

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.

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.

5 Aug 2015: Before completing a new supplier request, ensure that the supplier is not already on the Supplier database by using the search function.

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

18 Aug 2015: Search site. Finance Division. Legal action. Any decision to take legal action should only be made as a last resort having fully considered the appropriateness, reputational and cost implications to your ... If proceeding with court action, there is a