Month end tasks

The following tasks should be undertaken monthly to ensure that expenditure posted and subsequently claimed from the sponsor is correct.

• Review expenditure posted to your department suspense grants and re-post expenditures to clear the department suspense grant to zero.

• Review and clear funds check failures and other exceptions.

• Check for un-posted pre-approved batches (grants journals).

• Correct any VAT errors as advised by the Tax Section, within the Finance Division.

• Run the ‘Projects by Organisation by PI’ report.

• Check the status of all grants and take action to correct erroneous items/resolve overspends and under spends. A copy of the relevant sheet from the ‘Projects by Organisation by PI’ report should be given to each PI for review.

• Run a GL Accounts Analysis Report on the departmental research cost centre, the ED source of funds, and transaction code LZEG for excess income or AZZN/EZZN for excess expenditure.