Making adjustments in AP
Duration: 6 mins 44 secs
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Description: | (No description) |
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Created: | 2021-01-20 14:34 |
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Collection: | Grants |
Publisher: | University of Cambridge |
Copyright: | Finance Training |
Language: | eng (English) |
Transcript
Transcript:
Hello and welcome to this video
on re coding expenditure
relating to your grant.
Specifically this is looking at
expenditure which has been allocated to your grant through an
accounts payable invoice.
So the first thing to be really
clear about is that if you do
have costs relating to any
accounts payable invoices, those
costs must be recoded through
accounts payable. You cannot
move those costs through a
Grant's Journal. So to demonstrate, we start from our
expenditure inquiry screen. So
if we look at say, this top line
of expenditure and we want to
find the invoice for it, we can
start by clicking this item
details button. From here we get
a number of different options.
We're going to choose the AP
invoice option and select OK.
This will open the invoice
overview window. From here we
can select the invoice number.
You can see as well some information about who the
supplier is, the batch name and
so on. But in order to track
down this specific invoice, the
easiest way to do it is to use
the invoice number. So from here
we can right click and copy it
to the clipboard, or you can
write down a bit of paper if you
prefer. Either way will work as long as we can call it back
later in order to search in
accounts payable. Once you've
done that, we can close down the
windows we have open within the
grants module. And when we're
back on the Navigator screen,
we're going to select this top
hat icon. A window will open with a list of all of your
available responsibilities, and
we're just going to choose our
accounts payable responsibility.
So I've got an AP invoice
manager, but you could also do
this in AP invoice entry.
Select OK and this will
move us into the accounts
payable module.
We're going to double click on
entry. And then choose
the invoices option.
This will open a find invoices
window. From here we can search
for invoices using a number of
different parameters, so we
could search by name. We could
search by invoice number,
amount, dates and so on. As
we've got our invoice number
copied down. The easiest way to
do so is to click into this
invoice number field and then
either paste in your invoice
number or type it in, if you wrote it down before.
Now just select find and you
should only have one or two
invoices coming up as it's only searching for invoices within
your Department. So mine is come
up this first line and we can
see actually that it isn't e-invoiced, so we've got a purchase
order which is being used.
There's an invoice number,
invoice date, the supplier and
so on. In order to re code our
invoice, we need to navigate
into our second tab. This Lines tab. This is where all of the
accounting information is
stored. So here we can see our
cost, our expenditure item line and it's split into two. So we've
got our net line at the top and
our VAT line underneath it.
The tax name shows so we can see
it's been coded to standard rate
20%. There's our description and then as we scroll across to the
right, here is our grant
information. Now, in order to re
code this expenditure, we're
going to have to do 2 steps.
We're going to put in a negative
line to the current grant to
take that expenditure out of the
grant. And then we're going to
put in a positive line to re
code that expenditure to a
different code, and we can re
code it to either a general
Ledger code or to another grant.
Say in words, put in our
negative line. We need to enter
a new row. So with your original item line selected, just select
this Green Plus icon at the top
left corner of the window. This
will add in a new blank row.
Now, as I mentioned, the first
step would be putting in a
negative line, so select your
net amount and enter a
negative copy of whatever the
amount is above him. So for
mine will be minus £29.16.
So next we need to look at is
the description. This is the
description which will populate
into your grant reports and you
might not just want the
information that populates from
the header. So in this case it
would have been the purchase
order number, but it would be
more useful for us to have the
detailed information from the
line above, so you can simply
copy that down by holding the
shift key and pressing F5.
Next, we're going to move
across to our grant
information and same
subscription. We can actually
copy down a lot of this
because we're going to be
coding it to the same grant the original line was. So shift
and F5 will copy down the project, the task, the award and
the expenditure type.
Once you've done that, just select this "Save" floppy disk
icon at the top of the screen.
You might find your row shifts down to the bottom of the
lines, which is absolutely fine.
All we need to do now is
enter in a positive row to the same value, so this will be
29.16. This time we're going to choose the code we'd like to
charge this cost to, so that might be a general Ledger code,
and if it is, you will enter
your GL code into this charge
account field here. For my
example, I'm going to charge it
to a separate grant. So I'm going to move on to the
description field and once again
copy down my description.
And then in the project field I'm going to enter my new
Project code.
Enter in the task, the award and the expenditure type.
Once you've done that. You
can select calculate tax at
the bottom of the screen and if there is any VAT, this
will just assign the tax to
the new code.
You can then to finish off the
invoice, select actions one.
Tick the validate option, and then click OK.
What this will do is it will
push everything through and you
will be able to see it in your
grant reports. For any
reports which run through
Cognos, you won't be able to see them until the next day.
If you select your Holds tab, you should see a new line has
been entered along the top with
your csid with the hold reason
of awaiting secondary approval.
If you've got that, then it
means that everything's gone
through OK. Finally, either you
or someone else will need to
secondary approve this invoice. To do so, just follow the
secondary approval steps that
you would with any other
invoice. Thank you very
much for watching.
on re coding expenditure
relating to your grant.
Specifically this is looking at
expenditure which has been allocated to your grant through an
accounts payable invoice.
So the first thing to be really
clear about is that if you do
have costs relating to any
accounts payable invoices, those
costs must be recoded through
accounts payable. You cannot
move those costs through a
Grant's Journal. So to demonstrate, we start from our
expenditure inquiry screen. So
if we look at say, this top line
of expenditure and we want to
find the invoice for it, we can
start by clicking this item
details button. From here we get
a number of different options.
We're going to choose the AP
invoice option and select OK.
This will open the invoice
overview window. From here we
can select the invoice number.
You can see as well some information about who the
supplier is, the batch name and
so on. But in order to track
down this specific invoice, the
easiest way to do it is to use
the invoice number. So from here
we can right click and copy it
to the clipboard, or you can
write down a bit of paper if you
prefer. Either way will work as long as we can call it back
later in order to search in
accounts payable. Once you've
done that, we can close down the
windows we have open within the
grants module. And when we're
back on the Navigator screen,
we're going to select this top
hat icon. A window will open with a list of all of your
available responsibilities, and
we're just going to choose our
accounts payable responsibility.
So I've got an AP invoice
manager, but you could also do
this in AP invoice entry.
Select OK and this will
move us into the accounts
payable module.
We're going to double click on
entry. And then choose
the invoices option.
This will open a find invoices
window. From here we can search
for invoices using a number of
different parameters, so we
could search by name. We could
search by invoice number,
amount, dates and so on. As
we've got our invoice number
copied down. The easiest way to
do so is to click into this
invoice number field and then
either paste in your invoice
number or type it in, if you wrote it down before.
Now just select find and you
should only have one or two
invoices coming up as it's only searching for invoices within
your Department. So mine is come
up this first line and we can
see actually that it isn't e-invoiced, so we've got a purchase
order which is being used.
There's an invoice number,
invoice date, the supplier and
so on. In order to re code our
invoice, we need to navigate
into our second tab. This Lines tab. This is where all of the
accounting information is
stored. So here we can see our
cost, our expenditure item line and it's split into two. So we've
got our net line at the top and
our VAT line underneath it.
The tax name shows so we can see
it's been coded to standard rate
20%. There's our description and then as we scroll across to the
right, here is our grant
information. Now, in order to re
code this expenditure, we're
going to have to do 2 steps.
We're going to put in a negative
line to the current grant to
take that expenditure out of the
grant. And then we're going to
put in a positive line to re
code that expenditure to a
different code, and we can re
code it to either a general
Ledger code or to another grant.
Say in words, put in our
negative line. We need to enter
a new row. So with your original item line selected, just select
this Green Plus icon at the top
left corner of the window. This
will add in a new blank row.
Now, as I mentioned, the first
step would be putting in a
negative line, so select your
net amount and enter a
negative copy of whatever the
amount is above him. So for
mine will be minus £29.16.
So next we need to look at is
the description. This is the
description which will populate
into your grant reports and you
might not just want the
information that populates from
the header. So in this case it
would have been the purchase
order number, but it would be
more useful for us to have the
detailed information from the
line above, so you can simply
copy that down by holding the
shift key and pressing F5.
Next, we're going to move
across to our grant
information and same
subscription. We can actually
copy down a lot of this
because we're going to be
coding it to the same grant the original line was. So shift
and F5 will copy down the project, the task, the award and
the expenditure type.
Once you've done that, just select this "Save" floppy disk
icon at the top of the screen.
You might find your row shifts down to the bottom of the
lines, which is absolutely fine.
All we need to do now is
enter in a positive row to the same value, so this will be
29.16. This time we're going to choose the code we'd like to
charge this cost to, so that might be a general Ledger code,
and if it is, you will enter
your GL code into this charge
account field here. For my
example, I'm going to charge it
to a separate grant. So I'm going to move on to the
description field and once again
copy down my description.
And then in the project field I'm going to enter my new
Project code.
Enter in the task, the award and the expenditure type.
Once you've done that. You
can select calculate tax at
the bottom of the screen and if there is any VAT, this
will just assign the tax to
the new code.
You can then to finish off the
invoice, select actions one.
Tick the validate option, and then click OK.
What this will do is it will
push everything through and you
will be able to see it in your
grant reports. For any
reports which run through
Cognos, you won't be able to see them until the next day.
If you select your Holds tab, you should see a new line has
been entered along the top with
your csid with the hold reason
of awaiting secondary approval.
If you've got that, then it
means that everything's gone
through OK. Finally, either you
or someone else will need to
secondary approve this invoice. To do so, just follow the
secondary approval steps that
you would with any other
invoice. Thank you very
much for watching.
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