General
Within some FMS screens, it's possible to carry out a check on the funds available prior to processing a transaction (for example, requisitions).
When approving a transaction, the system will flag if there are insufficient funds available. The approver can choose to Reject the transaction back to the originator with comments or approve the transaction (if satisfied that additional funds are in the process of being transferred to meet any funding shortfall).
How funds check works
Different types of projects will require the funds check to be carried out in different ways. This is determined by the Budget Setting Level held against the Project. The various levels are noted below.
The system will automatically identify the correct method based on the sub-project.
Regardless of the Budget Setting Level, Funds Check is always carried out at Activity level, not Account code level.
For example, a Research project might have a remaining balance of £500 in Activity 470 (Consumables) and £100 in Activity 300 (Training). A Funds Check carried out for a transaction being coded against Activity 300 for £200 will fail the Funds Check. That's because there is not sufficient funding in the Budget for that Activity.
It may be possible to prepare a virement to transfer funds from Activity 470 to Activity 300 (if this is permitted by the Funder).
Budget setting level values
| Value | Code | Notes |
|---|---|---|
| Project life | PL | Used where the whole life budget should be taken into account and checked at the Project level (for example, most Research projects) |
| Project year | PY | Used where the current year’s budget should be taken into account and checked at the Project level (for example, some Estates projects) |
| Sub Project Life | SL | Used where the whole life budget should be taken into account and checked at the Sub Project level (for example, most Knowledge Exchange (KE) projects) |
| Sub Project Year | SY | Used where the current year’s budget should be taken into account and checked at the Sub Project level (for example, most General projects) |
Further information on how to carry out the Funds Check is included in the relevant training manual.