Classification and recording of research revenue
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Classification and recording of research revenue. Overview. Current classification system Emerging issues in recording and classifying research revenue Problems in the current system Solutions to the problems Other issues not identified. Current classification system.

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Classification and recording of research revenue

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Classification and recording of research revenue

Classification and recording of research revenue


Overview

Overview

  • Current classification system

  • Emerging issues in recording and classifying research revenue

  • Problems in the current system

  • Solutions to the problems

  • Other issues not identified


Current classification system

Current classification system

  • Fund type is used to identify the Competitive, industry and other public sector revenue sources

  • GL account is also used to identify the revenue source

  • The GL account structure does not reflect any meaningful information that can be used

  • The primary emphasis is to get the Fund type correct, the GL account is secondary


Current ci structure in sap fm

Current CI Structure in SAP FM

Research

Commonwealth Research Grants

Research Grants

Commercial Research

Research Donations


Emerging issues and interest in research revenue

Emerging issues and interest in research revenue

  • New DVC Research, Prof. Edwina Cornish, is requiring more analysis of research revenue

  • Emphasis on commercial research

  • Setting of targets for research

  • Easier reporting and budgeting

  • Complement DEST classification and cross institution benchmarking


Problems in the current system

Problems in the current system

  • GL account classification does not match fund type classification

  • No restrictions in place to fix errors at the transaction entry

  • Departmental workarounds to tackle delays in contract review and classification

  • New staff not familiar with process and guidelines


Sap research revenue recording

SAP research revenue recording


Solutions to the problems

Solutions to the problems

  • Create a better structure for GL accounts

  • Correct Fund Type classification

  • Cleanup any errors in classification for 2004

  • Place restrictions to correct data entry errors

  • Provide guidelines and training


Proposed gl structure

Proposed GL Structure

Research Revenue

Competitive ARC Research

Competitive NHMRC Research

Competitive Commonwealth Research

Competitive Non Commonwealth Research

Other Public Sector Local Government

Other Public Sector State Government

Other Public Sector Other Commonwealth Government

Industry Australian

Industry Australian Non-profit and Individuals

Industry International

Industry International (Competitive)

Cooperative Research Centres

Linkage Infrastructure Equipment and Facilities


What s going to happen

What’s going to happen?

  • New GL structure will be created ASAP

  • 6 new GL accounts

  • Revenue will be moved to the correct GL account – by end of July

  • Any errors will be fixed - by end of July

  • Fund type will be reclassified – CRC and LIEF

  • Guidelines will be in available soon


Sap research revenue recording fix

SAP research revenue recording - Fix


Feedback

Feedback

  • Any questions or issues

  • Suggestions for improvement


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