Search

7 Apr 2015: Accounts Receivable concerns income generated from sales for services rendered with the following steps being involved. Invoice - Raise sales invoice. Send to Customer - Invoice sent to Customer. Receipts - Income collected and receipted. Debt

2 Apr 2015: Regardless of the method of donation the steps that the Department must follow are the same. Click the image to enlarge

31 Mar 2015: Terms of sale If obliged to purchase from abroad on a supplier's terms of contract, it is important to determine what is included in the purchase price, and when risk and ownership pass to the purchaser.

31 Mar 2015: After the month end process departmental users will be able to access the new assets that have been uploaded in to the fixed asset module. They will also be able to: Update certain details, e.g. serial numbers. Change an asset's location. Change the

20 Mar 2015: What is the CUEF? The Cambridge University Endowment Fund (CUEF) is a unitised fund consisting of a variety of assets including equities and investment property. Investors (departments) buy a number of units in the fund - the number purchased

31 Mar 2015: However, this is not as beneficial as it might seem at first, because the University is required by law to charge itself VAT at the UK rate of 20% if the ... Some services may also be bought without paying VAT to the supplier by using a similar mechanism

2 Jun 2015: Bribery As defined in the University's Policy against Bribery and Corruption. Certifying Completion of Procurement Services' on-line dispensation form.

19 Mar 2015: There are certain exceptions to the rules about “deemed employment” where people are being retained to undertake very short term academic tasks. These can be paid through the UPS using a UPS1 form as ‘automatic self-employed’ without the

19 Mar 2015: The following factors are considered when determining the correct status. They follow the principles used in determining actual employment status, but here are applied to determine whether an individual will be a “deemed employee” for tax

21 Apr 2015: Research Operations Office Bulletin - Issue: 20.

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.

7 Apr 2015: Accounts Payable (AP) describes the procedure for processing supplier invoices and employee expense claims, and other disbursements processed via the AP module.

12 Aug 2015: Standard rated 20%. Standard rated grants do have VAT charged on invoices to the sponsor. ... UK commercial sponsors are normally classed as standard 20%. For zero rated (this includes RG and RS) grants, any VAT charged on related purchases is also

6 Aug 2015: These year end instructions include: Payroll and University Payment System (PAY) Purchasing (PO) Accounts Receivable (AR) Accounts Payable (AP) Inventory (INV) Research Grants (GMS) Fixed Assets (FA) General Ledger (GL) Certification by Head of

12 Aug 2015: One of the purposes of the General Ledger (GL) is to reflect all of the University’s financial expenditure. Therefore, summary information from the Grants module is transferred on a daily basis into the GL.

11 Aug 2015: The Head of Department/Institution may delegate their responsibility to a suitably nominated individual within the department. This is done on a template letter provided by the Research Operations Office which lists the areas of delegation as well

4 Sep 2015: A reference guide for Source of Funds codes This section gives a fuller description of what each Source of Funds code represents, how it can be used and why. Use the menu on the left hand side to view the contents of this section. Latest version 01

6 Aug 2015: The Accounts Receivable (AR) module of UFS is used for customer record creation and maintenance, raising sales invoices, credit memos and debit memos to external and internal customers. These memos are commonly referred to as a credit or debit notes,

27 Feb 2015: 20% overheads on direct expenditure can be claimed and the UFS will calculate these.

31 Mar 2015: Topics covered in this section are: Departmental responsibilities The central process for fixed assets

17 Aug 2015: Consider if it is reasonable to obtain payment in advance of any income generating activities to remove the need for offering credit. Should you decide to trade on credit terms you must assess the associated credit risks.

2 Apr 2015: Topics covered in this section are: Specific Endowments Specific Donations Overheads charged to donation accounts Activities funded from more than one source

19 Mar 2015: Payments to students for grants and field trip expenses may be entered onto UFS without obtaining clearance from the Tax Team. Bursaries and studentships should ideally be paid through payroll using a UPS3 form though in practice they are unlikely

4 Sep 2015: The J Sources of Funds are used to account for non-research grants received from the Office for Students and Research England and other bodies for specific purposes, together with the associated expenditure, whether revenue expenditure or

2 Apr 2015: Topics covered in this section are: Sources of funds for donations General Donations - source of funds EF** to EX** Specific Donations - source of funds H*** Specific Endowments

2 Apr 2015: Donations are credited to a source of funds code in the ranges indicated in the below table and with an appropriate transaction code beginning LF**. The decision tree at Appendix A should be referred to for further guidance.

4 Sep 2015: The E Sources of Funds are used where funding is provided to the University and no restrictions on expenditure have been placed on the funds. EBBA: Unpaid Leave of Absence For duration of leave a budget transfer is made from ABAA to fund the

20 Mar 2015: Administrators should check that they know the answers to the following: Task Advice/Resources 1. Do I have to produce anything as part of the Planning Round? If so, what and by when? Finance Business Partner or Institution head of finance 2.

6 Aug 2015: From 1 Jan 2021 Following the end of the Brexit Transition Period purchases from suppliers both in the EC and outside are treated in a similar manner. Please refer to the Import Export Hub for the current information. When buying goods from

7 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

7 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

6 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.

10 Aug 2015: Tue 20 Aug. It is essential that exceptions are cleared. This includes funds check failures,. ... Tue 20 Aug. Final (after GMS has closed). In case of queries please contact the Research Grants Helpdesk Tel.

6 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.

27 Feb 2015: 10-20 participants. Activities aimed at coordinating or supporting research efforts and policies (networking, exchanges, trans-national access to research infrastructures, studies, conferences, etc.).

7 Apr 2015: Ordering: iProcurement A department wishing to order goods or services should raise a purchase order on UFS to the supplying department. It is good practise to include a note on the purchase order of your department's AR internal customer number.

21 May 2015: Register a regular journey between 20 May and the 5 June (inclusive) to be entered into our prize draw to be in with a chance of winning multiple prizes of wine

7 Apr 2015: Departments are required to create internal sales transactions when trading with other internal departments. Upon receipt of a request or a purchase order, the selling department must raise a UFS invoice using the correct internal trading data.

31 Mar 2015: Assets owned by the University, irrespective of funding source, remain the property the University until sold or destroyed -unless contracts with external sponsors specify otherwise. Responsibility Heads of Departments are responsible for the

12 Aug 2015: Once the project has ended departments may wish to compare the actual costs incurred against the original application. This will identify any deficiencies in the costing or planning of the research and improve future applications for that sponsor.

5 Aug 2015: If you are aware of a new supplier with outsourced accounts i.e. using a factoring company, it is essential that the Site Name is entered as Factor when setting up the supplier.

4 Sep 2015: Sources of financial information The Finance Division produces the following main sources of financial and management information based on General Ledger balances: at Department level monthly departmental summary reports at School / Group level

10 Aug 2015: ON THIS PAGE Summary of tasks Key dates Accounting for AP invoices Enter and approve purchase (AP) invoices Review of outstanding invoices Review Internal AP invoices Concur: Barclaycard and out of pocket claims Visitors and students expense

4 Sep 2015: The P Source of Funds is used for funding received specifically or approved for buildings. The related expenditure should be entered via the Projects module in UFS. Normally this is only used by the Finance Division or Estates Division. Latest

12 Aug 2015: Expenditure is usually recovered through invoicing or an expenditure claim. Most sponsors’ billing is generated through the Grants Module; this means that there is data available to departments on the amount billed per grant.

12 Aug 2015: Following instruction from ROO, Research Accounting transfer any excess income or excess expenditure (ie. overspend) to the departmental research cost centre, with the ED source of funds, and a transaction code LZEG for excess income or AZZN/EZZN

4 Sep 2015: The code consists of four characters: the first identifies what sort of account the transactions should be attributed to and the next three refine this more precisely. The table below is a summary of the Transaction codes used by the University.

10 Aug 2015: Final date for completion Action required Tue 24 Sep Institution Summary Reports will be issued electronically to institutions as follows: Date Interim 1 Fri 2 Aug Interim 2 Thu 22 Aug (following close of AP etc.) Interim 3 Tue 3 Sep

23 Jul 2015: All institutions are required to monitor and control their expenditure to ensure that it is in line with available funds. This section gives guidance on the techniques required and reports available to enable interpretation of actual expenditure

17 Aug 2015: Goods and/or services must not be provided on credit without a customer purchase order or the appropriate written equivalent contract. A customer purchase order provides written confirmation of the customer’s details (e.g., current address,