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1 Apr 2015: The CUEF income generated from spendable capital is also credited monthly also to the spendable part of a Trust Fund (cost centre ZZYB) under the transaction code NAAA.

18 Aug 2015: The resulting bad debt provision is then posted to the original sale’s cost centre and source of funds using a transaction code of FJNA.

31 Mar 2015: Departments have the responsibility to ensure all new asset purchases are uniquely tagged by a numbered security tag. This should contain a unique number to allow the asset to be tied up to the details on the asset register. It will allow for a

17 Aug 2015: As institutions may not receive notification from the customer prior to the payment appearing in the bank account, you must review the twice weekly sterling, dollar and euro electronic payment lists distributed by the Cash Management (CM) Team.

6 Aug 2015: Gift Aid is a procedure where the University can reclaim from HM Revenue & Customs the basic rate of income tax on a donation given to the University by an individual. Currently the University is able to increase the value of the donation by 25%.

1 Apr 2015: Some trust funds have managers in more than one department. These funds are therefore mapped to Central Administration and are listed under "General" when the Annual Accounts are published in the University Reporter.

1 Apr 2015: As part of the month end procedures, the Finance Division will credit the interest due to any trust fund accounts holding money on deposit. This credit will appear in the trust fund account against the transaction code NBAA, and will be available to

1 Apr 2015: Spendable capital units can be bought and/or sold as required at the end of the following quarters: September December March June Requests must be received by the Trust Funds Assistant at least two weeks before the last working day of the month.

2 Apr 2015: Where departments receive donations directly in the form of cash and/or cheque then these should be forwarded to CUDAR for processing. CUDAR will then take responsibility for the banking of monies and receipting on UFS. If appropriate they will

1 Apr 2015: A significant number of the University's Trust Funds are prize funds. The detail of each prize is listed annually in November each year, in a special edition of the Reporter. Many prize funds have the annual income as the value of the prize.

2 Apr 2015: Research grants If an offer of support appears to fall between a research grant and donation, it is important to seek advice from Finance Division or ROO, because certain benefits to donors (use of logos, rights to attend seminars, access to

17 Aug 2015: To create an invoice, the customer must exist in UFS. The Credit Control Team provides a centralised service to set up and amend customers in Accounts Receivable. This service is designed to reduce the administrative burden on the institutions,

5 Aug 2015: Credit cards must be used exclusively for expenditure directly relating to University business. This may include travel and restricted entertaining.

17 Aug 2015: In addition to payment terms, it is important for institutions to establish in advance the most appropriate payment method. The customer can be billed, by raising an invoice, or the item could be added to the University’s online store.

17 Aug 2015: When a debt becomes overdue, it is important to establish the reason for non-payment. Reason Context Action Payment missing The debtor claims they have already paid. The institution should gain as much information concerning the payment as possible.

1 Apr 2015: The constitution of the board of managers or electors of a trust fund is usually laid down by Ordinance. Managers may be appointed by the Council, the General Board, Faculty Board or other bodies. A full list of managers for each trust tund is

1 Apr 2015: Click on OK and submit the request. The report will pick up all of your department's Trust Funds and show the activity on cost centre ZZYB, the spendable part of

31 Mar 2015: At the end of each financial year the Head of Department is required to sign a year-end certificate for their department; this includes certifying that the Fixed Asset Register holds the correct number and type of assets held in the department.

6 Aug 2015: IPT should be treated as part of the overall cost of the insurance and not separately identified or treated as VAT, and the tax code entered as 'No UK VAT' on

1 Apr 2015: Benefactions and gifts to establish new Trust Funds are always reported to Council and a Notice announcing acceptance by the University is published in the Reporter. The Notice would usually be accompanied by a grace, or grace and report, to set up

5 Aug 2015: In this section: Cardholder records Change of Address Unrecognised transactions Lost or Stolen Leaving employment Cardholder records Departments should keep an up to date list of all its cardholders and their credit limits.

31 Mar 2015: The fixed asset module does not have sub-ledger security. It is possible for people outside the department to see what assets your department holds. If you update the location field to identify the precise location of the asset then this is also

1 Apr 2015: The University has limited powers to vary the application of a trust fund.

2 Apr 2015: Departments should determine and code the receipt to:. the correct departmental cost centre. ... Code the invoice to:. the correct departmental cost centre. the appropriate source of funds for the donation depending on the type of donation i.e.

6 Aug 2015: On this page: The three tests for medical exemption Qualifying equipment List of goods eligible for Medical Exemption Services: hire, repair etc.

6 Aug 2015: No VAT is charged on stamps or franking machine charges. See goods and services charged without VAT in the UK.

6 Aug 2015: The Purchasing module (which includes iProcurement) is used to create purchase orders (POs) on UFS. This in turn creates a commitment. When the order is matched to an invoice, this becomes an actual expense.

6 Aug 2015: Passenger transport e.g. rail fares, air tickets are zero-rated and no VAT is charged on the purchase. See Goods and services charged without VAT in the UK.

6 Aug 2015: 365+ days past due. 100% of the balance due. The bad-debt provision is posted to the original sale's Cost Centre and Source of Funds using a transaction code of

6 Aug 2015: As a rule of thumb for costing purposes calculating a rate of 5% is usually reasonably accurate.

6 Aug 2015: Food (not catering) is usually zero-rated and should be entered on CUFS using the tax code 'No UK VAT', but there are a few exceptions on which you will be charged VAT at the standard rate - see section Sales/Income in the UK, Food for standard

4 Sep 2015: Summary reports The departmental and Schools or Group reports present summary information under the following headings, each of which is reported in a separate column: income expenditure overdrawn or cash in hand money on deposit CUEF other

6 Aug 2015: If you hire a room then room hire is normally exempt from VAT and this should be entered on CUFS using the tax code 'No UK VAT'.

17 Aug 2015: Wording when you are adding interest:. As this amount is now in serious breach of our agreed payment terms, we have reluctantly added further costs and interest in line with “The ... It is now imperative that this amount is settled in full, including

6 Aug 2015: Certain supplies of goods and services to the disabled are eligible for VAT relief. In order to be able to claim the relief you will need to issue a certificate of eligibility to the supplier of the goods or services. This certificate can be found

9 Oct 2015: All excl. J, M. Investment income. N. All. Expenditure:. Staff costs. ... All. Depreciation. FB. Z. Gain on investments:. XH. All. (1) Income here is recognised to the extent of recoverable costs recorded.

1 Apr 2015: At year end, departments should follow the year end timetable issued by the Finance Division and ensure that all Trust Fund transactions are processed before the GL closes. Additionally, they should be prepared to make adjustments in the final

6 Aug 2015: The main corporation tax relief applying to the University is an exemption available to charitable bodies on any profits arising on charitable activity.

6 Aug 2015: Areas that are non-charitable and therefore could give rise to a tax charge include: the provision of consulting; testing facilities; or sales of goods that are not "educational". Where a department undertakes such activity and it generates a pr

8 Oct 2015: Monitoring expenditure by cost centre allows departments to track. the performance of specific activities. ... Best Practice Guides No. 2:. Examples of using Sources of Funds and Cost Centres.