Financial Services

Financial Services

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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.

The ICR report by Account includes the opening and closing balances similar to the Statement of Operations Non-Research.

To locate the new ICR report navigate to FAST>Finance Reporting>Operating Statements and select By Tree, By GL Code Pivot or By Account.

Operating Statement by Tree Example

If you have questions or concerns please contact Financial Services at