Income is classified as unidentified usually due to insufficient information received through the bank or from the payer to establish what the funds pertain to. This prevents the funds from being credited to the correct department requesting the payment.
All payments, whether GPB or foreign, should be sent to UCL's main bank account.
- How to claim unidentified income from the main bank account
- Periodically a spreadsheet is circulated to relevant staff, check for any receipts that may relate to your department.
- Email firstname.lastname@example.org with the following information:
- Copy the first three columns of the line from the spreadsheet as below:
17/12/2015 2,582.00 NATIONAL UNIVERSIT NATIONAL UNIVERS
- Include full valid PTAE (project.task.award.expenditure number) using the PTAE Validator to ensure that the combination is valid - in the 'System' drop down box, please choose AR Misc Receipts;
- Include a brief description of the reason for the payment, e.g. "Reimbursement of conference expenses";
- Attach any supporting information relating to the payment e.g. copy of correspondence with the payer and / or remittance advice;
- If the payment relates to an invoice raised on the sales ledger, please advise the relevant invoice number(s).
Any identified income will be posted to PTAE's or allocated to invoices by the end of the current period in which it has been identified.
- How to avoid your income falling under "unidentified"
With regards to income, there is a two step process - one step is for the company / individual to complete and one is for the department to complete.
- When sending a request for payment to a company / individual, please advise them that their remittance advices should be sent to email@example.com.
- Departments should advise central finance to expect a payment. Please copy the template below, update the details and forward to firstname.lastname@example.org.
- Alternatives to Miscellaneous Income
- Please raise sales invoices on the system where possible and appropriate. This will ensure the quickest and most efficient allocation of income to your departmental accounts and the correct tax treatment.
- For instructions on how to raise invoices in the MyFinance system please refer to the e-Learning module under the main heading Accounts Receivable Entry.
- For further information you can contact the Credit Control team.
- Products, Events, Conferences and Short Courses may be best placed on the UCL's Online Store.
- If you would like to use the Online store to offer products, events, conferences or short courses please email: email@example.com in the first instance.
- In the subject line of the email please enter "Request for a New Online Store Item".