Tuesday, September 15, 2015

Funds and Book keeping

The higher echelons of my university has decided that the person who use to keep our accounting books (for grants) is no longer needed. This means that the faculty has to keep all the book keeping which include how much money is there to spend and what is already spent, where it is spent and who spent it. It also includes keeping track of all the reciepts and other documentation.

This sounds very weird to me that we as faculty have to do this kind of book keeping. But I am a newbie and I might be wrong.

Do you have a person who does this kind of book keeping for you and makes sure that all the expenses incurred are backed by documentation? If not, what is your strategy for keeping records and number straight?

5 comments:

  1. My uni has never had a person for this. I use Excel, but I also don't have butt loads of money. We have a few senior faculty that just don't bother and run their accounts into the red and make the uni level auditors not trust anyone. The auditors this year are starting to force faculty to justify how their conference travel and presentations relate to particular funding sources. Meanwhile our administrators are jetting around the world and expensing their dry cleaning, FFS. Academic freedom doesn't exist anymore.

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    1. Wow that brutal. So the faculty who do take their accounts into red; I am assuming that the department picks up the tab? The money has to come from some where

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  2. No, accounting is an interesting art. I have accounts that have been in the red for years now, by like $20 bucks, and nothing happens, the university paid for the stuff when I bought it. I keep telling them to use my overhead to cover it, but so far they haven't bothered. Every place runs it's books a bit differently though. We actually switched to a new payment system a few months ago and I think the credit card company is now on the hook for the over charges or maybe I'm ruining the university's credit rating by not paying my bills on time. The people I deal with don't really know. It's quite sad actually.

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