Finance & Procurement Tips

Cost Centres

Cost centres are specific segments, departments, or units within an organisation that are designated and accounted for separately in terms of their costs. These units are typically established to monitor and control expenses, assess performance, and allocate resources effectively. The primary purpose of creating cost centers is to facilitate management accounting and internal financial reporting. By assigning costs to specific areas or functions, businesses can gain insights into the financial performance of individual units and make informed decisions.

Cost Centre	Service
4002	ITS Leadership
4005	Change Delivery
4006	Service Management
4007	Infrastructure
4008	Solution Development and TELT
4009	Research
4011	Print Services
4012	Copy Shop
4015	Devices (Professional Services and Schools)
4017	Office of The CIO

 

In order to streamline and manage costs effectively, it is essential to adhere to a structured process when requesting budget codes for the purchase of services or products, such as software, hardware, or any other IT departmental purchase. This process ensures that all acquisitions align with the organisation's financial guidelines, are authorised appropriately, and are charged to the correct budget categories. By obtaining the correct budget code before initiating a purchase request, staff contribute to the financial accountability and transparency of the organisation. The following simple procedure outlines the steps staff should follow to request budget codes for their service areas:

1. Determine the Nature of the Purchase:

Before reaching out for a budget code, clearly identify the nature of the purchase, whether it's software, hardware, or any other service/product requiring financial allocation.

2. Contact Your Manager:

Reach out to your immediate manager to discuss the intended purchase. Seek approval and clarification on the budget allocation for the specific service area or project.

3. Request the Budget / Account Code / ITS Local Code (If Applicable) :

Ask your manager for the relevant Budget / Account Code / ITS Local Code (If Applicable) associated with the service area or project. Ensure you understand any specific guidelines or restrictions related to the use of that budget code.

4. Document the Budget / Account Code / ITS Local Code (If Applicable):

Once provided with the Budget / Account Code / ITS Local Code (If Applicable), document it for future reference. This code will be crucial when raising a ticket through Service Desk for any purchases related to the approved service area.

5. Raise a Ticket through Service Desk:

With the approved budget code in hand, raise a ticket through Service Desk helpdesk to initiate the purchase process. Clearly mention the nature of the purchase, provide necessary details, and include the budget code in the ticket.

6. Await Confirmation:

 Allow time for the appropriate helpdesk staff member to review and confirm the budget code and purchase request. Any discrepancies or issues will be communicated through Service Desk.

Logging into Agresso

• Web site:     https://agresso-web.qmul.ac.uk/BusinessWorld/
• Username:   e.g. yfw123
• Domain:      QM
• Password:    Your Queen Mary single sign-on password

Agresso Alerts

• Deal with Missing Goods Receipt alerts - Authorising a Missing Goods Receipt Task [PDF 268KB].
• Received an Invoice Out of Tolerance alert: if the 5% tolerance level (or above £50) is exceeded then compare the original PO amount to the invoice visible in the task then approve/reject to clear the task (click the tick icon in the top right of the screen).

Purchase Orders (PO's)

• When raising PO's in Agresso please attach using the paperclip button 1 quote for values below £10k net, and 3 quotes for values above £10k net.
• Make use of a 'Call-off' PO to pay multiple related invoices (same supplier): Call-Off Purchase Orders [DOC 2,153KB].
• Use the correct VAT code when raising PO's to save time: Guidance on tax codes when raising a PO [PDF 40KB].
• Find out where a PO is in the approval workflow: Workflow Enquiry - Requisitions [PDF 1,612KB].
• Close PO's no longer needed: email the PO number(s) to servicedesk@qmul.ac.uk.

Time Savers

• Activate your Agresso substitute while out of the office: Activating your Agresso substitute [DOC 75KB].  
• Filter results when running Agresso reports: use the wildcard function e.g. 3*** to display all account codes beginning with '3'.
• Find out if an invoice has been paid > the 'quick' option is to contact Elaine Nicholson, Virginia Christian or Jacqui Yates (Accounts Payable) by Teams message quoting the PO number.