Post Award Handbook

Task management is the process of tracking and coordinating project activities to ensure they are completed on time and in line with the project plan. It helps teams monitor progress, manage deadlines, and address any issues early. Effective task management supports accurate reporting, budget control, and successful delivery of project objectives.

At the end of each reporting period, Research Finance carries out a number of key procedures to review and update research project accounts. These checks take place once all transactions for the period have been posted. The process ensures that project costs are correctly recorded, funded costs are reflected on the project, and research income is accurately recognised in the University’s accounts.

Section in development.

Timesheets are used to record the time staff spend working on research projects where required by the funder. They provide evidence that the salary costs charged to a project reflect the actual time worked. Maintaining accurate timesheets helps the University meet funder requirements, support audit checks, and ensure staff costs are correctly charged to projects.

Reconciliations are carried out to check that project financial records are accurate and complete. This involves reviewing project accounts and comparing transactions recorded in the finance system with supporting information, such as invoices, payroll charges, or departmental records. Regular reconciliations help ensure that costs and income have been recorded correctly and allow any issues to be identified and resolved early.

Forecasting is used to estimate how project funds will be spent over the remaining life of a project. It involves reviewing current spending and planned activities to predict future costs. Forecasts support effective project monitoring and may also be required by some funders to support claims, payment profiles, or financial reporting.

Foreign exchange management applies where research funding or project costs are received or incurred in a currency other than pounds sterling. Changes in exchange rates can affect the value of project income or expenditure when converted into sterling. Monitoring foreign exchange ensures that project budgets remain accurate and financial records reflect the true value of income and expenditure.