Finance Processes

These processes promote recommended practice and aim to help departments to implement robust financial control. They have been written in support of the Financial Regulations.

Whether you are new to a financial role at the University, or need a high level overview of finance processes, these useful guides provide summaries of all the finance processes and controls on the finance web site.

Assets:

Managing Assets: Equipment

Cash Handling and Banking:

Cash and Banking
Petty cash
Donations

 Expenses:

Pay Expenses
Advances of Expenses

 Inventory:

Managing an inventory store

 Oracle Financials:

Managing Access to Oracle

 Payroll:

Payroll processes

 Planning and Reporting:

Accruals Accounting
Managing Budgets, Forecasts and Reporting
Maintain the Chart of Accounts
Monthly VAT Reconciliation and Reporting

 Projects:

Financial Management of Building Projects
Managing Departmental Projects

 Purchasing and Payment:

Internal trade
Making Payments
Marketplace, including iProcurement
Purchase to Pay
Purchasing Equipment Over £100k
Tender Process

 Research:

Managing Research Awards and Projects

 Sales:

Internal trade
Managing Sales of Goods and Services

 Self Assurance:

Self Assurance

 Treasury:

Foreign currency management

Status and role of Financial Processes and the Financial Control Framework

When undertaking financial activities on behalf of the University, all staff are required to observe Council's approved set of mandatory Financial Regulations.

The Regulations are supplemented by the procedures and processes above, which describe in more detail the recommended practice departments should adopt.

For ease of reference, the University's financial controls model and supporting documentation are embedded in the processes above. Both the processes and the controls also form the basis of training materials developed by the Finance Training team.

The Financial Assurance Services team regularly review the processes and controls with departments and ensure they are accurate and up to date.

As part of the new Self Assurance exercise, departments also undertake a regular assessment of their financial control at a local level. The Self Assurance Toolkit supports this by linking the questions directly to the online processes and controls.

This implementation assumes that Departments have a responsibility to:

  • Understand and implement the Financial Regulations;
  • Comply with, or explain why they cannot comply with, the recommended practices.

Departments are advised that the University's internal and external auditors may base some of their audit reviews on the degree to which departments conform with the Regulations and financial processes and controls.

Contact details

For further questions, please contact:
Process Manager (University access only)
Telephone: 01865 (6) 16086

Documents