| Module closes at 5 pm on Monday 19 August |
On this page: |
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Final date for completion |
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Process monthly Barclaycard statements before AP close, if using this option |
Thu 15 Aug |
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Clear research grant funds check failures and exceptions |
Thu 15 Aug |
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Correct research grant VAT errors up until the end of June |
Thu 15 Aug |
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Clear suspense grants |
Thu 15 Aug |
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Post EC PI Time journals based on timesheets |
Mon 19 Aug |
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Post all research grants journals |
Mon 19 Aug |
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Key date |
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Month End processes completed: Non-direct costs, pooled labour, apprenticeship levy transfer |
Wed 31 Jul |
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Central processes completed, including overheads |
Fri 2 Aug Fri 9 Aug Fri 16 Aug |
| Unreconciled suspense items cleared to institution GL overhead accounts |
Fri 16 Aug |
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Unresolved Fund Check Failures cleared to grant |
Mon 19 Aug |
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Grants expenditure report issued |
Thu 1 Aug Thu 8 Aug Fri 16 Aug Tue 20 Aug |
| It is essential that exceptions are cleared. This includes funds check failures, suspense grants and expenditure recorded against the incorrect grant |
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 institutions daily.
Central and Research Accounting (CRA) will clear all fund check failures through to the original coded award unless otherwise notified by 5pm on 16 August. This may result in awards going over budget.
CRA will notify all institutions of fund check failures cleared centrally.
Correct VAT errors
As advised by the Tax Team, raise grant journals to transfer any VAT errors from the AZZY (Transactions Pending Transfer) Source of Fund.
VAT errors relating to July 2024 will not be posted until Wednesday 28 August. These transactions can remain on AZZY and transferred to the Grants Module in the August 2024 period:
| Further information and guidance is available from the Finance Division>Training> Guidance & FAQs webpage, Monthly VAT corrections |
Clear suspense grants
Review and clear expenditure posted to suspense grants by 15 August.
Notify Central and Research Accounting of any suspense account items which are research related and are waiting for the grant(s) to be set up by the Research Operations Office.
Any unresolved items in suspense grants which relate to July 2024 or earlier will be transferred to a institution overhead GL account (source of fund: EDAA) on 16 August. Affected institutions will be sent details of this journal.
These journals reflect timesheets, as per monthly processes, and should be posted by 19 August.
Timesheets should be completed for previous months before the year end period and the relevant journals posted timeously
| Further information and guidance is available from the Finance Division>Training> Guidance & FAQs webpage, Timesheets |
Finalise and release all Research Grants journals
Institutions have two additional days following the closure of the Accounts Payable module to review their grants and post correcting grants journals as required.
Institutions must ensure that all grants journals have been released in order to allow the Grants module processes to be run (e.g. costing and funds checking) before the module closes for the year end.
NB: Institutions are not required to raise accruals for un-posted July invoices relating to research grants as this will be done by Central and Research Accounting. Please notify Central and Research Accounting of any single items over £10,000.
Research Grant expenditure reporting
Research Grant expenditure reports are distributed as detailed below. The report provides a listing of expenditure in the financial year, but is also available to be run from Cognos on an adhoc basis (Year End Grant Report)
| Date | Report |
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Thu 1 Aug |
1st Interim |
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Thu 8 Aug |
2nd Interim |
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Fri 16 Aug |
3rd Interim (after AP has closed) |
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Tue 20 Aug |
Final (after GMS has closed) |
| In case of queries please contact the Research Grants Helpdesk Tel. 64796 |