finance chart of accounts workshop 22 nd may 2015 ucl school of life and medical sciences
TRANSCRIPT
![Page 1: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/1.jpg)
Finance Chart of Accounts Workshop22nd May 2015
UCL SCHOOL OF LIFE AND MEDICAL SCIENCES
![Page 2: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/2.jpg)
Chart of Accounts Workshop 22nd May 2015Agenda
Topic start Duration Presenter
Introduction 10:10 5 Nicola ArnoldPTAE 10:15 45 Ian Davis/Elizabeth FrancisCoffee & grp exercise 11:00 20 Susan McPheatCommon Problems 11:20 15 Susan McPheatAuthorised signatories 11:35 15 Nicola ArnoldRoles/New Starters 11:50 35 Lee JennerAxiom reports 12:25 25 Marion AtkinsonQuestions 12:50 10
![Page 3: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/3.jpg)
PTAE
Elizabeth Francis and Ian Davis
UCL SCHOOL OF LIFE AND MEDICAL SCIENCES
![Page 4: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/4.jpg)
Overview - PTAE
• One CoA for core, research and other• Matrix structure for management and reporting• More in-built controls e.g. VAT• More consistency of coding• Projects are linked in a hierarchy
![Page 5: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/5.jpg)
Hierarchy
University
Schools & VP’s
Faculties
Divisions/Institutes
Sub-Departments
![Page 6: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/6.jpg)
For example:
UCL
SLMS
Faculty of Life Sciences
Division of Biosciences
Department of Cell and Developmental Biology
GEE, NPP, SMB
SoP, SWC, GCNU, MRC LMCB, CTFU
FBS, FPHS, FMS
BEAMS, SLASH, IoEVP’s – Research, Health, Education, International etc
![Page 7: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/7.jpg)
PTAE – every transaction has one!
• Project – provides separate reporting of income and expenditure.
• Task – can be used for greater detail. • Award – funding. • Expenditure – classification.
![Page 8: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/8.jpg)
Project Types – Research
• Sponsored Research – project grants, fellowships, capital awards
• Doctoral Training - studentships• Projects managed by Research Services • Set up based on grants awarded
![Page 9: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/9.jpg)
Project Types - Activity
• Organisation Unit – used for general departmental activity
• Course – for specific costs incurred on course administration
• Service - used for a service provided by UCL• Event – used for an event related activity• Naming Convention
– Org Unit Description– E.g. F96 Confocal Microscope
![Page 10: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/10.jpg)
Project Types - Individuals
• Academic – for income and expenditure related to a specific academic
• Student – for income and expenditure related to a student where reporting cannot be satisfied by other student systems
• Naming convention – Org Code (last name, first name up to 14 chars) UPI– E.g. F36 Hill, Jonathan JMHIL80
![Page 11: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/11.jpg)
Project Types - Other
• Holding Account – Each division/institute is responsible for their own– for automatic transactions without a valid code– Must be cleared to 0
• NHS Billing – – For staff salaries recharged to the NHS– Managed by central NHS billing team– Should net to 0
![Page 12: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/12.jpg)
Tasks – Sponsored Research
• Tasks allocate awarded budget• D- tasks are directly charged non-pay• S- tasks are directly charged salaries• X- tasks are indirectly charged• Indirect charging requires intervention to charge
costs to project– E.g. X-HEF charges are based on submitted
timesheets.
![Page 13: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/13.jpg)
Task – sponsored research
• A transaction is allocated to a grant budget line based on the selected Task.
• Expenditure Type classifies the transaction posted to the Task.
![Page 14: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/14.jpg)
Awards
UCL SCHOOL OF LIFE AND MEDICAL SCIENCES
Split into Award Types– Core– NHS billing– Sponsored research– Donations– Endowments– Primary Purpose– Trading– Discretionary
![Page 15: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/15.jpg)
Award Type - Core
HEFCE SI• HEIF KTC• HEIF Ent Awards• HEIF PoC• PG support scheme• CSLA
SLMS-Grand Challenges Studship
Impact Studentships UCL Funded
Grad Sch Skills Training
Pub Eng Burs
Provost Strategic Dev Fund
PS - Grand Challenges
UCL Core
VP Education/ Enterprise Awards
GRS Awards
![Page 16: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/16.jpg)
Award Type - Core
Project Type: Organisation Unit Non Pay
Tuition Fees
Research OH
HEFCE
UCL Core
• UCL Core– Mostly Org unit Project type– Core Div activity
Holding Projects
Staff
Project Type: Holding Accounts
![Page 17: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/17.jpg)
Award Type - Core
• Other Possible Core Awards (PSDF, Impact students, etc)– Mostly internal income– Must code legitimate costs to correct award
![Page 18: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/18.jpg)
Award Type – NHS Billing
• Generally multiple awards per NHS Billing Project Type (i.e Per Academic)– Reflects different elements of salary– Depends on Invoicing requirements
• May have multiple awards for multiple funders
![Page 19: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/19.jpg)
Award Type – Sponsored Research
• One award per research grant• Can be split across multiple projects
![Page 20: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/20.jpg)
Donations Policy - Thresholds
• Gifts > £10k must go though DARO• Gifts > £100k further due diligence is required by DARO• Gifts > £1m must be referred to DARO in the first instance.
The decision of whether to proceed is made by the Director & Gift Acceptance Panel, with sign-off from the Provost
• Gifts processed through DARO are returned to the Division via the internal income expenditure type
• MUST stay in the PTA allocated by DARO
![Page 21: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/21.jpg)
Award Type – Donations
• Unrestricted– Given for the general use (i.e. teaching and research
objectives)– Ideally used to offset core costs– Can’t defer
• Restricted– The donor specifies a particular purpose
– Prize– Scholarship– Chair– Area of research
– The donation is in response to a public appeal– Income can be deferred to match spend
![Page 22: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/22.jpg)
Donations Scenarios
Scenario Action Award Award Type
Project
Donation is unrestricted
Use the generic Donation (Unrestricted) Award
Donation (Unrestricted)
Donation (Unrestricted)
Use:
- Department project;
Donation has a restricted use
Request the set up of a separate Award with donor name in title eg. Sarah Jones Prize
Sarah Jones Prize
Donation (Restricted)
At Div’s discretion. Use:
- Department project or;
- Request specific project ( NOT academic)
![Page 23: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/23.jpg)
Award Type – Endowments
• Donations may be endowed if– Greater than £100k– Retained for more than 2 years– Greater than normal spend on an activity
• Individual awards for each endowment• All endowment awards are set up by Treasury• Should be one project to one award
![Page 24: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/24.jpg)
Award Type – Endowments
Award Type Option to sell units Purpose restrictedUnspent income
carried to balance sheet
Non Endowed Funds P
Endowment (Expendable) P P P
Endowment (Perm Restricted) P P
Endowment (Perm Unrestricted) P
![Page 25: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/25.jpg)
Award Type – Primary Purpose• No intellectual generation• UCLC• Trading with other HEI’s
• Short courses now core• Will be working with Divisions to transfer other PP activity
to core• Never transfer income (only surpluses once activity
finished)
Match Costs to Income
![Page 26: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/26.jpg)
Award Type – Trading (UCLT)
• No intellectual generation• Trading with industry• Closed Courses• Sampling / Industry service provision
• Corporation tax• Never transfer income elsewhere (only surpluses) • Never post costs not relating to activity
Match Costs to Income
![Page 27: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/27.jpg)
Award Type – Discretionary
• Trading/Primary Purpose not automatically transferred at year end
• Only Internal income accepted (eg. Royalties)• In time less need for discretionary• Large spend must be Budgeted
![Page 28: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/28.jpg)
Other activity' Income and Expenditure April 15
Row Labels YTD Income YTD Expenditure YTD NetDiscretionary 0 6,634,147 (6,634,147)Donation (Restricted) 630,683 654,927 (24,244)Donation (Unrestricted) 2,063,025 2,221,691 (158,666)Endowment (Expendable) 901,500 1,704,542 (803,042)Endowment (Perm Restricted) 113,420 94,825 18,594Endowment (Perm Unrestricted) 3,689 713 2,976Non Endowed Funds 461,335 320,412 140,923Primary Purpose 15,231,890 9,177,210 6,054,680Trading (UCLT) 6,699,415 5,258,915 1,440,500Grand Total 26,104,957 26,067,383 37,574
SLMS
![Page 29: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/29.jpg)
Matching Income and Expenditure
CORE• Income• Expenditure
Donations (Restricted)
• Income• Expenditure
Discretionary
• Internal income
• Expenditure
Project Type: Organisation Unit
• Activity must be Budgeted
![Page 30: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/30.jpg)
Matching Income and Expenditure
CORE• Income• Expenditure
Trading• Income• Expenditure
Project Type: ServiceProject Classification: SRF
![Page 31: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/31.jpg)
of PTA combinations have NEVER been used50%
![Page 32: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/32.jpg)
CORE/Research/Other
Core Research OtherUCL Core Sponsored Research Primary Purpose
NHS Billings Trading (UCLT)Non Endowed Funds
Endowment (Expendable)Endowment (Perm Restricted)
Endowment (Perm Unrestricted)Discretionary
Doctoral TrainingDonation (Unrestricted)
Donation (Restricted)
Income and Expenditure Reports
![Page 33: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/33.jpg)
Expenditure Types
• Every Requisition Line must be posted against a Project, Task and Award as a minimum
– For catalogue purchases, expenditure type is pre set– For non catalogue purchases, it’s essential the correct
purchasing category is chosen – this drives expenditure type
• Expenditure type covers both income and expenditure• Purchasing category helps drive VAT status
![Page 34: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/34.jpg)
How do we automate the tax calculation?
• What? -- Expenditure Type, Award, Project, Product Category (Goods or Services)
• Why? -- Intended Use• Who? -- Supplier information• Where? -- Location of Supplier
![Page 35: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/35.jpg)
The eTax Engine WILL be correct, every time……provided YOU enter the correct information
Things to watch out for;
1.(For a Non-Catalogue Request) The Supplier SITE you choose
2. (For ALL Requests) The ‘Intended Use’ will determine if any UCL Tax Exemptions apply
3.(For ALL Requests) The ‘Product Category’ property will help the Engine determine the rate of VAT
Don’t Forget: Garbage IN, Garbage OUT
![Page 36: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/36.jpg)
Group Exercise
• Get your tea/coffee• Split into groups• Can you identify what the issues are with these
requests?
![Page 37: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/37.jpg)
Common Problems
Susan Mcpheat
UCL SCHOOL OF LIFE AND MEDICAL SCIENCES
![Page 38: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/38.jpg)
![Page 39: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/39.jpg)
![Page 40: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/40.jpg)
• Naming conventions and character length not within guidelines
• Project name requested includes reference to award e.g. Institute Primary Purpose Account
• Project name requested includes project manager• Donation or Trading awards requested attached to
academic type projects
Common Problems with PTA requests
![Page 41: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/41.jpg)
Common problems continued
• Description says £z from X for Y• Description references award e.g. Prof A
discretionary• Central awards• UCLC• No indication of where income is to come
from/why project is needed
![Page 42: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/42.jpg)
What we look for when we get a request
• Why does it need a separate project?• Why are we getting ourselves into a new Trading
activity?• Who are we providing this service to and why?• Where is the income expected to come from?• Are donations restricted or unrestricted?• Have donations gone through DARO?• Is there a need for this project now? • Materiality• Does the request make sense?
![Page 43: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/43.jpg)
Authorised Signatories
Nicola Arnold
UCL SCHOOL OF LIFE AND MEDICAL SCIENCES
![Page 44: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/44.jpg)
Who will approve my Request?
You can see who your Requisition will be forwarded to during the Checkout process.
…and after you have completed the Checkout process
The request will go to;
•All of the Authorised Signatories at the required level, unless…•One has been set up as the Preferred Approver (only they will receive the request)
Optionally, in Addition;
•If the Project has a Purchasing Manager, they will also receive the request. They will then have 5 days to approve the request.
![Page 45: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/45.jpg)
Orders > £50k – Approval Fully On-Line
The Business Process remains the same.
However, iProcurement will notify all participating approvers when Checkout is complete
![Page 46: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/46.jpg)
Orders > £50k – Attaching the Checklist
You will still need to complete the ‘Over £50,000 Checklist’ form.
The completed form must now be attached to the Requisition during Checkout.
![Page 47: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/47.jpg)
Authorised Signatory
• Process will be handled through User Management Module
• DA acts as a requester• System routes request to approver
![Page 48: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/48.jpg)
User Management: DA’s to request Authorised Signatories
User
DA
Auth Sig RequestiExp & iProc
Signature
SFD
FSO
Approve
Approve
Email Notification& Attachment
![Page 49: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/49.jpg)
Authorised Signatories - New Levels and Limits
![Page 50: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/50.jpg)
Authorised Signatories – New Levels and Limits
http://www.ucl.ac.uk/finance/policies-procedures/delegated-auth-limits
![Page 51: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/51.jpg)
Authorised Signatory
• Authorised signatories apply to Income as well as expenditure
![Page 53: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/53.jpg)
System Roles
System Roles determine• the functions that a person is able to perform
using the system
• what appears on their MyFinance menu
![Page 54: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/54.jpg)
Departmental Roles
Initial Roles
UCL Staff• Internet Expenses [Entering expense claims]• UCL iProcurement [Entering requisitions]• UCL IDT Orderer [Ordering internal goods and services]
UCL Student and Temp• UCL iProcurement [Entering requisitions]• UCL IDT Orderer [Ordering internal goods and services]
![Page 55: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/55.jpg)
Additional Departmental RolesUCL Departmental Administrator• User Management [Administering users for dept]
(plus all responsibilities of UCL Local Finance Manager)
UCL Local Finance Manager and UCL Head Of Department• UCL Grants Dept Admin [Project key member management]• UCL IDJs [Transferring funds between local accounts]• UCL IDT Orderer Approver [Approving IDT orders]• UCL IDT Supplier Approver [Approving IDT supplies]• UCL AR Transaction Entry [Entering Sales invoices & credit notes]
(plus all responsibilitites of UCL Local Finance Administrator)
UCL Local Finance Administrator• Internet Expenses Help Desk [Viewing expense claims for dept]• UCL AR Enquiry [Enquiry of sales invoices, credit notes, receipts]• UCL AP Enquiry [Func : AP enquiry]
• (plus all responsibilitites of UCL Academic and Professional Services Staff)
UCL Academic and Professional Services Staff• UCL Grants Enquiry [PI & key member enquiry]
UCL AR Transaction Entry• UCL AR Transaction Entry [Entering Sales invoices & credit notes]
![Page 56: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/56.jpg)
Access to Projects
In order to enter a transaction of any kind, people must have access to Projects• No access is given automatically• Every transaction must have a PTAE • Security is only on the Project (P) element
• Transaction controls restrict the PTAE combinations that are allowed but these restrictions are the same for everyone.
![Page 57: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/57.jpg)
Access to Projects
Shared Projects• Initially, people only have access to Shared Projects owned by their own department
and above in the organisation hierarchy
UCL
SLMS
Faculty
Division Division Division
Department Department Department
Faculty Faculty
SLASH BEAMS
![Page 58: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/58.jpg)
Access to ProjectsThere are two ways to give people access to projects
1. Organisation Security
2. Project Key Member
Organisation Security Access• Enter transactions against any project owned by the organisation unit and below in
the hierarchy• Run reports against any project owned by the organisation unit and below in the
hierarchy• To setup – email details of person and org unit to School Finance
UCL
SLMS
Faculty
Division Division Division
Department Department Department
Faculty Faculty
SLASH BEAMS
![Page 59: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/59.jpg)
Access to ProjectsThere are two ways to give people access to projects
1. Organisation Security
2. Project Key Member
Project Key Member Access• The Project Manager, setup when the project is created, can enter transactions and
run reports• Additional key members can be added and removed by someone with the
Departmental Administrator role or Local Finance Manager role for the project owning department (or above)
• Two key member access types:• Unrestricted – enter transactions and run reports• Restricted – enter transactions
• There are other key member types which are used in the transaction authorisation process (Purchasing Manager, Expenses Manager)
![Page 60: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/60.jpg)
Transaction Authorisation
In addition to authorised signatories• People can be setup to authorise every transaction against a project regardless of
the value• They can reject or accept• The transaction will be held for 5 days if they do nothing• This does not replace the authorised signatory, who must accept for the transaction
to proceed• Two types of key member:
1. Purchasing Manager – authorise all purchase requisitions
2. Expenses Manager – authorise all expense claims• Replaces the Project Manager as additional authorisation on research grants
![Page 61: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/61.jpg)
Access to Reports
Steps to gain access to MyFinance Reports
1. Access to MyFinance system
2. Access to Projects through one of:• Organisation Security access• Project Manager• Unrestricted Key member
3. Access to MyFinance Reports• Happens semi-automatically once the other two sets of access are in place• There is a delay between access to MyFinance and access to MyFinance
Reports
![Page 62: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/62.jpg)
Steps In Summary1. Access to MyFinance system
• System roles determine what functions in the MyFinance system you have access to
2. Access to Projects• To enter a transaction, you must have access to Projects• Several ways to gain access:
• Organisation Security access• Project Manager• Unrestricted Key member• Restricted Key member• Shared Projects
3. Authorising Transactions• Authorised Signatories must approve transactions (value, org)• People can be setup to approve all transactions against a particular project
• Purchasing Manager key member• Expenses Manager key member
4. Access to MyFinance Reports• Happens semi-automatically once people have system and project access
(www.ucl.ac.uk/finance/myfinance click on New Staff member, Temp or Contractor)
![Page 63: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/63.jpg)
Axiom Reports
Income and Expenditure Report (with commitments)
Marion Atkinson
UCL SCHOOL OF LIFE AND MEDICAL SCIENCES
![Page 64: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/64.jpg)
Enter date last!
![Page 65: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/65.jpg)
Report Options – Views and Detail
Views• Income and Expenditure• Award Type
Detail• Project
…Project Type
…Project Manager
…Owning Org
• Task…Level 1
• Award…Award Type
…Award Org
• Expenditure Type…Nominal
…Nominal Level 3
…Nominal Level 2
![Page 66: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/66.jpg)
![Page 67: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/67.jpg)
![Page 68: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/68.jpg)
Report Options – Views and Detail
Views• Income and Expenditure• Award Type
Detail• Project
…Project Type
…Project Manager
…Owning Org
• Task…Level 1
• Award…Award Type
…Award Org
• Expenditure Type…Nominal
…Nominal Level 3
…Nominal Level 2
![Page 69: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/69.jpg)
![Page 70: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/70.jpg)
Report Options – Views and Detail
Views• Income and Expenditure• Award Type
Detail• Project
…Project Type
…Project Manager
…Owning Org
• Task…Level 1
• Award…Award Type
…Award Org
• Expenditure Type…Nominal
…Nominal Level 3
…Nominal Level 2
![Page 71: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/71.jpg)
![Page 72: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/72.jpg)
Report Options – Views and Detail
Views• Income and Expenditure• Award Type
Detail• Project
…Project Type
…Project Manager
…Owning Org
• Task…Level 1
• Award…Award Type
…Award Org
• Expenditure Type…Nominal
…Nominal Level 3
…Nominal Level 2
![Page 73: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/73.jpg)
http://www.ucl.ac.uk/finance/myfinance
![Page 74: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/74.jpg)
Report Options – Views and Detail
Views• Income and Expenditure• Award Type
Detail• Project
…Project Type
…Project Manager
…Owning Org
• Task…Level 1
• Award…Award Type
…Award Org
• Expenditure Type…Nominal
…Nominal Level 3
…Nominal Level 2
![Page 75: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/75.jpg)
![Page 76: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/76.jpg)
![Page 77: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/77.jpg)
Report Options – Views and Detail
Views• Income and Expenditure• Award Type
Detail• Project
…Project Type
…Project Manager
…Owning Org
• Task…Level 1
• Award…Award Type
…Award Org
• Expenditure Type…Nominal
…Nominal Level 3
…Nominal Level 2
![Page 78: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/78.jpg)
![Page 79: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/79.jpg)
Shows YTD overheads by Project
![Page 80: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/80.jpg)
![Page 81: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/81.jpg)
Report showing non pay by project and award type
![Page 82: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/82.jpg)
![Page 83: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/83.jpg)
Other Reports that may be useful
• Project balances - e.g. to look at balances in holding projects
• Commitments details report• Transactions reports• Monthly investigator reports
![Page 84: Finance Chart of Accounts Workshop 22 nd May 2015 UCL SCHOOL OF LIFE AND MEDICAL SCIENCES](https://reader035.vdocuments.us/reader035/viewer/2022062216/56649d6d5503460f94a4e214/html5/thumbnails/84.jpg)
UCL SCHOOL OF LIFE AND MEDICAL SCIENCES
Questions