The module allows to generate Reports from the system (and, in the case of some reports, also save on the hard drive of your computer the file in MS Excel format). This allows you to keep track of the financial progress of the project broken down into categories, actions, in comparison with the planned expenditure etc.
LIFE Financial Statement report is generated with the application on the current EC financial statement template. Preserved are all counting formulas and other internal functions of the template so that to complement only the variable data.
By default Financial Statement dates are set in line with project reporting periods. FS file will though contains all the current data till the date when the FS is generated. If you’d like to generate data for a very specific period of time it needs to be manually changed in Funding module for LIFE.
For example if you’d like to generate FS for a period from the begining of the project for the end of the given year – go to Funding > Life > Installments and change the second (or third – depending the point of project implementation) date into required date i.e. 31-12-2019. And click save. Now FS will contain only costs incurred till that date.
NOTE! Please remember to change the date again as system will remember this as a reporting date.
LIFE Consolidated Statement – is generated by the application on a current template.The Consolidated Statement is generated only by Coordinating Beneficiary when submitting MidTerm Report or Final Report. It gives an overview of expenditures, distributed amounts and variation of costs in each category.
General budget breakdown – allows to generate information on current state of expenditure in the project, broken down into actions, taking into account the value of the planned, contracted and actually incurred. The report does not show nor include the personnel costs.
Cost categories by action – allows you to generate information about the current status of expenditure for the project broken down into actions, taking into account the value of planned and actually incurred in each costs category. The report does not show nor include the personnel costs.
Employee time and costs – allows you to generate information about the current status of hours
consumption per individual employee and the current status of her/his eligible personnel costs.
Employee time by actions – allows you to generate information about the current status of hours consumption per action of the project.
2% rule – allows you to check current status of the minimum amount of own contribution that should be declared as own contribution for the beneficiary to be compliant with 2% rule. It also indicates the value of own contribution declared by the beneficiary so far – for a clear information about the status of compliance.