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4 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.

31 Mar 2015: For example, if purchased equipment is not capitalised then its full cost is immediately processed in the year. ... If it had been identified and accounted for as a fixed asset then the cost would be moved to the balance sheet and depreciated over 4

12 Aug 2015: Staff cost commitments are not recorded in the grants module.

12 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.

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  £ 

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.

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

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

5 Aug 2015: The search facility enables staff to find current suppliers.

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

5 Aug 2015: For all enabled currencies within UFS (excluding US Dollar & Euro/Euro defined), the Treasury team will load a monthly Corporate exchange rate onto UFS. For US Dollar and Euro, the Treasury team will load a daily Corporate exchange rate onto UFS.

10 Aug 2015: Further information on year end procedures is detailed below:

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

5 Aug 2015: High Street suppliers should not be used. In general they do not provide the same credit facilities or preferential rates as larger companies offer. Warranties may not be valid in some instances where domestic goods are purchased that may be used in

11 Aug 2015: Departmental Key Contacts can request access for departmental members of staff to view research grant data in the UFS Grants module.

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

12 Aug 2015: Awards payable in US Dollars, Euros or other foreign currencies will be budgeted in sterling. The foreign currency policy is detailed under Foreign currency grants Awards denominated in Euros or US dollars are budgeted using a lifetime rate.

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: 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,

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

23 Jul 2015: As well as the GL Financial Summary Report, there are other Cognos reports that deal with actual and budgeting variances. Refer to the Finance Division Training webpages Guidance and FAQs, Cognos reports, for a list of reports and detailed assistance

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

6 Aug 2015: All modules will be closed at 5 pm on the following dates.

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

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

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: 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

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: 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

6 Aug 2015: Click on the image to download the checklist Excel: PDF:

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: 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

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).

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

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.

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: 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

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

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

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

31 Mar 2015: Both the University’s internal and external auditors have access to all records, assets, personnel and premises and the right to obtain such explanations as they consider necessary.

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

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

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.

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.

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.