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Sales Order Process

This page provides information about raising sterling and foreign currency invoices.

Sterling (GBP)

All sales invoices should be raised directly in MyFinance

All departments are asked to raise sterling sales invoices directly in the system, this means that the invoice is visible in your reports immediately.  

Completion (approval) of sales invoices is done by the Taxation team in unless your department has someone approved to complete sales invoices.  If you would like someone in your department to be trained and setup to complete sales invoices, email the Taxation & Commercial Accounting team.

Raising invoices in MyFinance

  1. You must be given the appropriate functionality in the MyFinance system.  Departmental Administrators and Local Finance Managers already have this functionality.  Other staff can be assigned the role of "UCL Receivables Transaction Entry" by someone with the Departmental Administrator role for their department in MyFinance.
  2. You must be given access to the projects the invoices will be allocated to.  If you do not already have access, your Departmental Administrator and Local Finance Managers can add you as a Restricted or Unrestricted Key Member on each of the projects.  You will need to know which Projects, Tasks, and Awards to use.  If you are uncertain, discuss with your local finance manager.
  3. You must learn how to raise invoices in the MyFinance system by running through the e-Learning module under the main heading Accounts Receivable Entry.
  4. Log-In and get started on MyFinance
  5. If you encounter any problems while entering a sales invoice, email the helpdesk team at myfinancehelp@ucl.ac.uk.

Valid Sales Items, PTAE (Project, Task, Award, Expenditure item)

  • When you enter a Sales Invoice, on each line you must select a sales item, then a project, task, and award number.  There are rules built into the system to say which sales items can be used on each project type and award type.
  • The sales invoice cannot be completed until each line has a valid PTAE combination. Once you have a valid combination, the Expenditure Type field will be populated automatically.
  • The rules are outlined in the Allowable Sales Items spreadsheet, please refer to this if you are having trouble getting a valid PTAE combination.  If you still need assistance to determing the correct PTAE for your invoice, contact your school finance team.

N.B. the PTAE rules are not related to the tax treatment and the tax team will not be able to resolve problems related to valid PTAE combinations.

Foreign currency

It is not possible to raise an foreign currency invoice directly in MyFinance.  It should first be converted to GBP, a manual invoice raised in excel, and then entered into MyFinance.  All departments should use the manual template, found on the Forms (relating to Income) webpage to generate the excel invoice.

In order to raise an invoice in foreign currency you need to:

  • Convert to GBP quoting the currency amount / conversion rate /  Date / source, you can use XE.com (currency converter website).
  • If the customer is based in Europe, ensure you check the EU VAT number against the Europa website, and state in the 'line description' on the template.
  • Check all fields are correctly populated then raise an invoice in MyFinance, ensuring you attach a copy of the completed excel template to the transaction record.

If you have any other questions contact the Taxation & Commercial Accounting team.

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