Financial management

Information and support on how to manage the financial aspects of your research project.

Financial management for research projects

The Principal Investigator (PI) is responsible for the financial management of a research project.

You can find information about the financial management of research projects on the Award Services website.

• Managing funding
• European Commission Financial Management

Financial reporting

Find guidance on financial reporting and audit requirements below.

• Financial reporting - Axiom
• Spending reviews - Audit requirements 

Spending money

UCL Finance has useful information on their Spending Money page including processes and procedures, suppliers and self-employed persons, policies and forms and VAT.

• Spending Money

VAT

UCL Finance offer guidance to help you determine whether or not VAT should be charged on different types of income, how VAT will impact on expenditure related to different activities, and what reliefs are available.

• Introduction to VAT
• Advertising
• Land and Property
• Medical Equipment
• Medicinal substances
• Overseas Purchases

Request a budget virement

If your funder allows budgets to be vired between awarded headings you can request this change with Award Services, providing you have enough budget available.

• Amendments to projects
• Request a budget virement (see Stage 4 of Managing a project)

Getting additional finance

If you require additional funding for your project you can submit a request to your funder. Such requests should be costed and approved within Worktribe to demonstrate how the additional funds will be spent.

Find out more about budget supplements, including how to create a budget supplement in Worktribe, on the Research and Innovation Services website.

• Initiate a budget supplement (see Stage 5 of Managing a project)

Foreign currency projects

Find exchange rate conversions for project budgets awarded in foreign currencies.

• Foreign currency projects
• Foreign currencies