Finance integration

The Awards Management module offers a bi-directional finance system integration. This integration is finance-system agnostic and is based on a file-transfer process in which CSV files are generated, transferred & ingested by each system. 

At a high level, the finance integration allows projects and project budgets to be set up on the client's finance system, and will import income and expenditure details from the finance system back into Awards Management. The Awards Management module will provide the PI and support staff with an overview of the project's current financial position. It does not replicate finance system functionality - the finance system remains the source of truth for project income and expenditure, and all financial policies and regulations should continue to be applied within the finance system.

The extract of data from Awards Management includes the facility to extract project, budget, and internal collaborator data from Awards Management, supporting projects and project budgets to be set up on your institution’s finance system, improving efficiency by removing delays and the need for re-keying of data.

• Exporting data from Awards Management 

The main purpose of integrating income and expenditure data into the Awards Management project is to enable users to get an accurate high-level view of the current real-time state of project expenditure against budget.

It is expected that the institutional finance system is the ‘golden copy’ of the project income and expenditure, and new transactions are recorded in Finance and extracted to Awards Management in aggregate.

• Scheduled import jobs

  • Awards Management supports two scheduled import jobs for supporting integration with your finance system:

    • Project information and income import

      • Import project-level information such as finance reference ID, additional finance reference ID, external link, and total income received from the finance system.  

    • Expenditure import

      • Import total expenditure information from the finance system (per Project budget category / sub-category).  

Imported income and expenditure information is visible on the Finance Summary screen for individual projects, and is available via the Funding Records endpoint in the API.

In consultation with clients, a number of additional fields have been added to the Project data model in order to support the creation of projects in institutional finance systems.  Details are available here.

We support functionality to enable the roll-up of budget items to the budget category or sub-category level, in order to support differing capabilities of and/or granularity required by the institutional finance system.