We get many questions about financial reporting. When we review project, we also see that there are some things that are often missed. Here we give tips for what you should think about in order to pass our reviews.
These tips involve some clarification of term and instructions, but do not provide a complete review of them.
Our general terms and conditions
Budgeting and reporting
- Vinnova recommends that the function or person who manages the accounting in the organization at the project party is also involved in creating the budget and reporting to Vinnova.
Only actual salary costs are eligible personnel costs. By staff cost is meant gross salary and actual additional salary costs, such as
example social security contributions, contractual pension provisions, contractual
insurances and fees. When reporting, they must not be an estimate or a template, but the cost must have been incurred, which means that wages must have been paid and recorded as wage costs.
- Indirect (overhead) costs may amount to a maximum of 30% of eligible personnel costs. It is not a template, but must be able to be substantiated with a calculation based on real costs. Please note that exceptions may apply to universities, university colleges and certain research institutes.
- Consulting costs must be stated in the proposal to be eligible for support.
- Deviations from the budget that are not of minor importance require a "Request for change" which must be approved by Vinnova. If changes that lead to such deviations are carried out without an approved request to change Vinnova's decision on funding, the costs are not eligible for support. It can also lead to a repayment obligation.
Accounting and reporting:
- All reported costs, including personnel costs, must be in the project party's financial system and be reported on a project-specific code or otherwise distinguishable from the organization's other transactions.
- For each cost, there must be evidence that proves the cost, such as an invoice, receipt, salary specification and time report.