Once initiated, each consultancy project is given a unique reference number and a dedicated KHP financial account, which along with all relevant documentation is stored on the MyProjects database. As the PI on the consultancy project, you and all named members of the team, will have automatic access to view all of these details and keep track of your project by accessing the link to the project within the MyProposals costing tool.
As with research projects, all consultancy projects are automatically recorded on the MyImpact Database (internal access only) for REF purposes. When you receive your KHP financial account, your School/Institute finance administrator will have access to SAP to run spend reports.
Distribution of surplus funds generated by the consultancy work is initiated by the Faculty Enterprise Teams and normally takes place at the end of the project, or for longer running projects this may sometimes happen at regular intervals throughout. Surpluses from consultancy projects are distributed in line with Faculty and Institute/School policies.
If you would like further information on how this is calculated, please contact your Faculty Enterprise Team.