| Module closes at 5 pm on Wednesday 17 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 |
Mon 15 Aug |
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Clear research grant funds check failures and exceptions |
Mon 15 Aug |
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Correct research grant VAT errors up until the end of June |
Mon 15 Aug |
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Clear suspense grants |
Mon 15 Aug |
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Post EC PI Time journals based on timesheets |
Wed 17 Aug |
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Post all research grants journals |
Wed 17 Aug |
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Key date |
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Month End processes completed: Non-direct costs, pooled labour, apprenticeship levy transfer |
Fri 29 Jul |
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Central processes completed, including overheads |
Fri 5 Aug Fri 12 Aug Wed 17 Aug |
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Unreconciled suspense items cleared to department GL overhead accounts |
Tue 16 Aug |
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Unresolved Fund Check Failures cleared to grant |
Wed 17 Aug |
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Grants expenditure report issued |
Mon 1 Aug Mon 8 Aug Tue 16 Aug Thu 18 Aug |
| It is essential that exceptions are cleared. This includes funds check failures, suspense grants and expenditure recorded against the incorrect grant |
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 15 August. This may result in awards going over budget.
CRA will notify all departments of fund check failures cleared centrally
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 2022 will not be posted until Thursday 25 August. These transactions can remain on AZZY and transferred to the Grants Module in the August 2022 period:
| Further information and guidance is available from the Finance Division>Training> Guidance & FAQs webpage, Monthly VAT corrections [1] |
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 2022 or earlier will be transferred to a department overhead GL account (source of fund: EDAA) on 16 August. Affected departments will be sent details of this journal.
These journals reflect timesheets, as per monthly processes, and should be posted by 17 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 [2] |
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 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 [3])
| Date | Report |
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Mon 1 Aug |
1st Interim |
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Mon 8 Aug |
2nd Interim |
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Tue 16 Aug |
3rd Interim (after AP has closed) |
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Thu 18 Aug |
Final (after GMS has closed) |
| In case of queries please contact the Research Grants Helpdesk [4] Tel. 64796 |
Links
[1] https://www.finance.admin.cam.ac.uk/files/gms_me_vatcrc.pdf
[2] https://www.finance.admin.cam.ac.uk/files/r122_gm_timeshtjrn.pdf
[3] https://www.finance.admin.cam.ac.uk/files/cog_gms_yerpt.pdf
[4] mailto:ufs_grants@admin.cam.ac.uk