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Module closes at 5 pm on Wednesday 19 August

 

On this page:

 

 

Essential Tasks

Final date for completion

Process monthly Barclaycard statements before AP close, if using this option

Mon 17 Aug  

Clear research grant funds check failures and exceptions

Mon 17 Aug

 

Correct research grant VAT errors up until the end of June

Mon 17 Aug

 

Clear suspense grants

Mon 17 Aug

 

Post EC PI Time journals based on timesheets

Wed 19 Aug

 

Post all research grants journals

Wed 19 Aug

 

Finance Division key dates for information

Key date

Month End processes completed:
Non-direct costs, pooled labour, apprenticeship levy transfer

Fri 31 Jul

Central processes completed:
Overheads, EC Price Adjustments

Fri 7 Aug
Fri 14 Aug
Wed 19 Aug

Unreconciled suspense items cleared to department GL overhead accounts

Tue 18 Aug

Unresolved Fund Check Failures cleared to Department GL overhead and departments notified

Wed 19 Aug

Grants expenditure report issued

Mon 3 Aug
Tue 18 Aug
Thu 20 Aug

 
It is essential that exceptions are cleared. This includes funds check failures, suspense grants and expenditure recorded against the incorrect grant​
 
In case of queries please contact the Grants Helpdesk Tel. 64796

 


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
  • Central and Research Accounting (CRA) will clear all fund check failures through to the original coded award unless otherwise notified by 5pm on Monday 17 August
  • CRA will notify all departments 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 2020 will not be posted until Thursday 27 August.  These transactions can remain on AZZY and transferred to the Grants Module in the August 2020 period. For further guidance see here.


Clear suspense grants

Review and clear expenditure posted to suspense grants by 17 August. Please notify Central and Research Accounting of any suspense account items, which are research related and are waiting for the Research Office to set up Research Grants. Any unresolved items in suspense grants which relate to July 2020 or earlier will be transferred to a department overhead GL account (source of fund: EDAA) on 18 August. Affected departments will be sent details of this journal.


Post EC PI Time journals

These journals reflect timesheets, as per monthly processes, and should be posted by 19 August. Timesheets can be completed for previous months before the year end period and the relevant journals posted. For further guidance, see here.


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 (e.g. 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.


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

Mon 3 Aug

1st Interim

Tue 18 Aug

2nd Interim (after AP has closed)

Thu 20 Aug

Final (after GMS has closed)

 

CORONAVIRUS/COVID-19
FOR STAFF

Please see our CORONAVIRUS/COVID-19 Assistance pages for help with areas of Finance during the current situation.

UFS issued communications and the University website also contain information on this topic

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