Invoicing and overdue payments
Invoicing
It is the Research Operations Office’s responsibility to ensure that funds are requested from a sponsor in line with their requirements.
Payments terms or schedules are included in the sponsor's Terms and Conditions.
We generate invoices using the University Finance System (UFS, also known as CUFS) and we ensure that invoices are issued in the correct format for that particular sponsor - for example, using the sponsor’s own claim form (where required), correct budgets headings, currency etc.
We are sometimes required to support our invoices/financial statements with copies of invoices relating to the expenditure charged to an award, and we will contact you or your Departmental Administrator/Accounts Office to arrange this.
If a payment schedule is to be followed (e.g. payment
on achieving milestones), we ensure that invoices are raised in accordance with
the instructions given by the sponsor.
Research Councils and several other sponsors pay the
University automatically (profile payments) and we record the income. Note that
Research Councils require that income is not received
in advance of need and so the Research Operations Office will monitor this quarterly, with
variances to be followed up in departments.
Debt collection
Debts are chased as soon
as is practicable without the necessity of legal action. However, in the
exceptional event of legal action being required, authority will be sought
from the Finance Director, The Registrary and the
department concerned as costs incurred will be at their expense.
Income
When
funds are received, we apply the receipt to the grant concerned.
Bad debt provision
There
is always a risk that we may not be paid and so it is prudent to account for
such an instance. The general bad debt provision for research grants is
dependant on the age of the debt and is calculated as follows:
- debts over 360 days old = 100% provision
- debts over 180 days old = 50% of debt
- debts over 90 days old = 25% of debt
Sponsors
such as Research Councils or Government are not currently included in the
general bad debt provision. However, these sponsors may be added if we are made
aware of problems, for example if payment is not received because the sponsor
has not received the final report from the Principal Investigator (PI).
Specific
debts are also added as and when they occur. These will be for debts that in
our professional view are NOT collectable immediately or at all. In such
instances, 100% provision will be applied to the debt immediately with prior
notice by email being given to the department concerned.
Need further information?
Please contact the Administrator in your School Team.
