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Finance Helpdesk Newsletter #49

Upcoming Open Finance Helpdesk Workshops

New H2020 Reporting leaflet is published

Personnel Costs - List of issues applicable to particular countries

Exchange Rates for H2020

Updated MarieSklowdowska-Curie in H2020 Leaflet Published Version 2

Marie Sklowdowska-Curie FAQs

 

 

Upcoming Open Finance Helpdesk Workshops:

 

22/02/2016                  2 Day Financial Workshop in Vienna, Austria.

04/04/2016                  1 Day Marie Sklodowska Curie Workshop in Vienna, Austria.

05/04/2016                  1 Day ERC Workshop in Vienna, Austria.

 

Please Remember: The Finance Helpdesk is happy to come to your premises and hold a Customised Workshop for your Organisation or Project. Please contact us here to find out more.

 

New H2020 Reporting leaflet is published

The Finance Helpdesk has published a "H2020 Reporting" leaflet

To download, please click here.

 

Personnel Costs - List of issues applicable to particular countries

Each country has different rules in relation to certain costs as to whether they can be included in the calculation for Personnel Costs within H2020. Country representatives have been negotiating with the Commission on behalf of their country to clarify some issues.

The issues are in relation to Taxes, Bonuses, Workforce Contracts and Productive hours.

 

It is interesting reading for all, however, if you are from Belgium, the Czech Republic, France, Italy, Portugal, Slovakia or the United Kingdom it is essential reading.

 

We expect that this document will be updated overtime as more country representative conclude their discussions with the Commission.

 

To download please click here.

 

Exchange Rates for H2020

Beneficiaries with accounting established in euro must convert costs incurred in another currency into euro according to their usual accounting practices.

 

Beneficiaries with accounting established in a currency other than the euro must convert costs incurred in euro into their accounting currency according to their usual accounting practices. When reporting, this beneficiary would have to then convert the costs recorded in their accounts into euro, at the average of the daily exchange rates published in the C series of the Official Journal of the European Union, calculated over the corresponding reporting period.

 

To do this, please do the following:

1) Use the following link: http://www.ecb.europa.eu/stats/exchange/eurofxref/html/index.en.html

2) Find your currency

3) Click the “chart” on the far right of your currency

4) Input the reporting period date range to receive the average rate

 

If no daily euro exchange rate is published in the Official Journal of the European Union for the currency in question, they must be converted at the average of the monthly accounting rates published on the Commission’s website, calculated over the corresponding reporting period.

 

Remember - Financial statements must be drafted in euro.

 

Note: Any loss due to exchange rate fluctuations (e.g. between the date of invoicing and the date of payment) are considered as ineligible costs and cannot be charged to your project.

 

 

Updated Marie Sklowdowska-Curie in H2020 Leaflet Published Version 2

The Finance Helpdesk has published a slightly updated Marie Sklowdowska-Curie in H2020 Leaflet. Version 2.

To download, please click here.

 

Marie Sklowdowska-Curie FAQs

 

Q: What is the definition of the date of recruitment and how does the mobility rule apply to it?

A: Normally, the "time of recruitment" means the first day of the employment of the fellow for the purpose of the project (i.e. the starting date indicated in the employment contract or equivalent direct contract). However, as there are differences in the procedure of employment between countries, the definition of this date may be adjusted if necessary. It can be also the date on the formal letter offering the position under the action or the date of the signature of the employment contract.

Regarding the mobility criteria, it is the beneficiary who is finally responsible versus the REA for verifying the eligibility rules and has to ensure that sufficient evidence of eligibility is kept for any potential check or audit. If there is a borderline situation, it is worthwhile speaking to the REA and to receive a written answer from them.

 

Q: How is the family status of a researcher taken into account and is it possible to modify it during the project (e.g. if a researcher has a child)?

A: Family is defined as persons linked to the researcher by (i) marriage, or (ii) a relationship with equivalent status to a marriage recognised by the legislation of the country where this relationship was formalised; or (iii) dependent children who are actually being maintained by the researcher.

The family status of the researcher is normally determined at the time of recruitment for ITN and at the deadline of the call for Individual Fellowships. It does not change during the lifetime of the project.

Importantly, please note that the family allowance is a fixed amount, regardless of the country of recruitment, and may be taxable depending on the country in question.

 

Q: How do you charge for partial months that a researcher works on a project?

A: For partial person months, a pro-rata unit cost of 1/30 will be reimbursed for each day (for ease of implementation, each month is considered to have 30 days).

Example: If the researcher spent 40 months and 15 days on the project, the calculation for the 15 days is: 15/30 = 0.5. In this case, insert 40.5 as number of person-months.

 

 

The FinanceHelpdesk Team.

 

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