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2019 Key notes

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Use of Shared Services
Budget freeze
Source of Funds (SoF) AZZY
Special Roll Forward requests

Use of Shared Services

To assist this section prioritise work for the year end, departments using Shared Services are asked to:

  • submit 2018/19 items for processing five working days prior to the closure of AP (by close of business on 7 August),

  • separate items to be processed in 2018/19 from those relating to 2019/20.

However, as the deadline for other departments to raise internal AR invoices to you is 9 August, please continue to send any invoices received as you get them to Shared Services for processing within 2018/19, even if this is after the 7 August deadline. 2018/19 invoices will be prioritised if you alert Shared Services to them.

It would be preferable to hold back items for 2019/20 until after the current year-end deadline. If you do send them in over this time, please clearly mark them as relating to 2019/20, and be aware that they may not be processed until after the 2018/19 work is complete.


Budget freeze

Following the implementation of the Chest Allocation being processed as actual income in department accounts, a formal timetable for changes to the Chest Allocation has been implemented for the year end.

Task Date
Actual posting of July 2019 Chest Allocation Mon 1 July 2019
2nd posting of July 2019 Chest Allocation Thu 1 August 2019
3rd posting of July 2019 Chest Allocation Wed 21 August 2019
Budget field frozen in CUFS Fri 23 August 2019
Final posting of July 2019 Chest Allocation Tue 27 August 2019

If a department requires the posting of a budget journal after 23 August, please contact your Finance Manager or Adviser who can liaise with Central Financial Planning and Analysis.


Source of Funds (SoF) AZZY

The SoF AZZY is used as a control account for transactions that are processed by the Finance Division, where the final General Ledger or Grant coding is unknown.

The current transactions, which use AZZY are:

Barclaycard

Each month the Barclaycard expenditure is debited to the SoF AZZY.  When departments are processing Barclaycard expense claim forms, the credit side of both Grants and GL journals should credit SoF AZZY.

SoF AZZY should be zero at 31 July in respect of Barclaycard transactions unless there are any transactions in dispute awaiting credit on a following statement. Any balance will roll forward on the same SoF, but onto transaction code XEAB.

Internal Trading

Internal Trading invoices are processed through AP on a daily basis and departments are requested to clear Internal Trading invoices from AZZY on a regular basis.

SoF AZZY should be zero at 31 July in respect of Internal Trading transactions unless there are any transactions in dispute awaiting a credit. Any balance will roll forward on the same SoF, but onto transaction code XEAC.

VAT Adjustments

The Finance Division VAT section process monthly VAT amendments for Services tax (Reverse Charges), Acquisition tax and Sales tax adjustments. These are processed on a monthly basis with Grant transactions being coded to AZZY.

Departments should endeavour to clear the balance on AZZY as at the 31 July. However, any transactions relating to the month of July will be outstanding due to the Grants Module closure date and cleared in the following year. Any balance will roll forward on the same SoF, but onto transaction code XEAD.


Special Roll Forward requests

The addition of an extra day trialled last year was a success. Therefore the same process will be followed this year. Standard roll forward balances will be created as at close of business on 4 September, but the deadline for specific requests is by midday on 6 September. The objective is to allow time for specific requests to be submitted to Finance Managers for review.


 

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