Financial Services

Financial Services

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Monthly Training Tip - Learning Excel Made Easy

Learning Excel Made Easy

Microsoft Excel – a powerful and easy to use tool that will assist you with reconciling and analyzing your departmental financial data.  Whether you are Beginner, Intermediate, or Advanced user, a wide range of online tutorials make it easy for users to access learning resources 24/7.

Learning Excel Made Easy

Microsoft Excel – a powerful and easy to use tool that will assist you with reconciling and analyzing your departmental financial data.  Whether you are Beginner, Intermediate, or Advanced user, a wide range of online tutorials make it easy for users to access learning resources 24/7.

Tri Council - Monthly Tip

Internal vs. External Funding

Internal and external research funding must usually be segregated and managed in separate research projects.  For example, research funding received from an external source should never be deposited into an internally funded project, such as a Special Research Project.  While exceptions to this rule may apply, these must be approved by Research Accounting, Financial Services.

ERS Update - Itemization of Tips no longer required in the ERS

ERS Update - Itemization of Tips no longer required in the ERS

Claimants using the ERS are no longer required to itemize out any tips on their receipted meals or taxi expenses. This change will result in significant time savings for faculty & staff preparing claims!

Please note that itemization will still be needed for separating out meal costs from hotel bills, and for separating out personal items, such as removing alcohol from meal receipts. 

Monthly Training Tip

Timelines and Cut-offs

Important tips to remember!

1. Managing your department’s financial activity starts with effective planning.

2. Effective planning starts with learning important timelines and cut-off dates.

3. Find out what you need to know before you need to know.

Always ask “What is the impact to the payee, to my department, to my Month-end and Year-end reporting, and to my data analysis?” 

New FAST ICR Report

New FAST ICR Report

In a continuing effort to improve financial reporting for the Queen’s community, a departmental internal cost recovery (ICR) report has been introduced in FAST. 

Based on feedback that we received from some of you, and with an increased volume of internal cost recovery transactions, there was an identified need for improved reporting on ICRs and the ease of determining expenses on a gross basis.

The ICR report by Tree has the same structure as the Summary, Actual, Commitments and Budget report by Tree with the following exception:  two new expense nodes have been introduced (ICR-Salary & Wages and ICR- Non Salary expenses) that isolate internal cost recoveries.  This will enable an easy calculation to determine gross Salary & Wages and gross Non Salary expenses.

Tri-Council Monthly Tip - Air Travel

Air Travel

Economy air travel often includes more than one class of travel.  For example, Air Canada economy rates may include “Tango”, “Flex”, or “Latitude”, with “Tango” being the most economical and “Latitude” being the least economical air fare.  Price differences between these fares can be significant.  The Tri-Council Agencies (NSERC, SSHRC, and CIHR) stipulate the lowest fare available must be used for air travel.  Therefore, if all three economy classes of travel are available, the expectation is the “Tango” air fare may be claimed.

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