1. Other income
(Unmatched)
Joanne Field
HoFFRA

2. Research grants
All research grants will be pre-populated as ‘PRC – Matched’ by central staff prior to 1/8/2015

3. Month end income recognition process
Non Exchange Transaction Label (NETL)
An important driver for income recognition.
‘Restricted’ and ‘Unrestricted’
The ‘further text’ field for these activity codes should explain what, if any, the restrictions on the use of the income are.
‘PRC – Not Matched’ or ‘Other – Not matched’
Use of the ‘further text’ field for these activity codes is compulsory
It should explain why the income is not matched to expenditure/what triggers the income recognition.

4. Month end income recognition process
Non Exchange Transaction Label (NETL) to be populated locally
pre August upload template
Post August done locally as new activity codes opened
Heads of School Finance are responsible for activity code ‘flagging’, by end of July 2015

5. Month end income recognition process
Handy Guide to unmatched income
How to run a report that identifies all your activity codes that are marked as:
PRC – not matched,
Other - not matched,
It will assist you in understanding the conditions required to recognise income when the NETL flex field has been populated.
Review the income on this report (YTD), and decide whether it should be recognised in month or not - following the decision tree provided.

6. Unmatched income recognition – Decision Tree

7. Month end income recognition process
As this income is not matched to expenditure, it is possible to do your income recognition journals at any time – no waiting until WD-1!!
Defer the income if required, or
Accrue if income is recognisable
but not received.

8. Data cleanse and Housekeeping
DATA Cleanse Before 31st July
Populate ‘NETL’ flag
Populate ‘further text’ flag for ‘not matched’ and for ‘restricted’
Ongoing ‘Housekeeping’ reviews
Codes flagged as ‘Restricted or’ ‘Not matched’ for:
Reasonableness
No supporting reasons in ‘further text’
Codes which are being matched to expenditure (should be central finance function)