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The Grants module interacts with the Accounts Receivable, Accounts Payable and General Ledger modules, as well as receiving imports from the Inventory module and CHRIS payroll.

At year-end there is a particular emphasis on ensuring exceptions, including funds check failures are clear, items have been cleared from suspense grants, and research expenditure has been recorded against the correct grant. As part of the Year-end Certificate sign off process, Heads of Department are asked to sign off on the expenditure by project, covering all projects in their department.

Tasks required

Final date for completion

Review and clear research grant funds check failures and exceptions

Wed 16 Aug

 

Correct research grant VAT errors

Wed 16 Aug

 

Clear suspense grants

Wed 16 Aug

 

Post EC ‘PI Time’ journals

Wed 16 Aug

 

Process journals for monthly Barclaycard statements

Wed 16 Aug

 

Finalise and release all research grants journals

Fri 18 Aug

 

Final overheads, revenue and the EC FW7 Price Adjustments run centrally

Fri 18 Aug

n/a

Module closes to departments at 5pm

Fri 18 Aug

 



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In case of queries please contact the Grants Helpdesk

Tel. 64796 or email ufs_grants@admin.cam.ac.uk


Clear funds check failures and exceptions

Review and clear any funds check failures and exceptions. Where exceptions exist on awards, exception emails are sent to departments daily.


 Correct VAT errors

As advised by the Tax Team, raise grant journals to transfer any VAT errors from the specified General Ledger suspense account onto the grant that they should relate to.  

 


Clear suspense grants

Review and clear expenditure posted to suspense grants. Any unresolved items in suspense grants which relate to July 2017 or earlier will be transferred to a departmental overhead GL account (EDAA.FAAE) on 18 August prior to final processing and closure of the grants module. Affected departments will be sent details of the journal.

Post EC ‘PI Time’ journals

These journals reflect timesheets, as per monthly processes.


Process journals for monthly Barclaycard statements

See Credit card expenditure in the General Ledger section.


Finalise and release all Research Grants journals

Departments have two additional days following the closure of the Accounts Payable module to review their grants and post correcting grants journals as required.

Departments must ensure that all grants journals have been released in order to allow the Grants module processes to be run (eg. costing and funds checking) before the module closes for the year-end.

NB:     Departments are not required to raise accruals for un-posted July invoices relating to research grants.

Grants should be reviewed on an ongoing basis.

The overheads, revenue and EC FW7 Price adjustments will be run, as usual, on Fridays, with the final run for the 2016-17 financial year, being 18th August.

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