Transaction number – this is the unique number of a transaction made against your budgets. This includes claim numbers, direct payment numbers and the numbers of other journals, such as those of credit notes and accruals. This is not unique to an individual line, so multiple lines could have the same transaction number.
Claim number – this is a type of transaction number unique to each claim form you submit. On the Business Costs Breakdown report, this will appear under "Transaction number", while on MPD Expenses Details this will appear under "claim number". The claim number begins with "600".
Direct payment number – This is a type of transaction number unique to each direct payment made. On the Business Costs Breakdown report, this will appear under "Transaction number". On the MPD Direct Payments by MP report, this will appear under "Direct Payment Number". Direct payments include rent paid to landlords, as well as payments for bills from other direct suppliers such as Banner, XMA and the Chambers Travel Office.
Claim line – this is the line number of an individual line of a claim. The first line is 1, the second line is 2, and so on. All individual claim lines share the same claim number.
Transaction date – this is the date that an item of spend was posted against your budget – unless the spend has not yet been approved, in which case it is the date you submitted the claim. If the item has the status "posted" on the MPD Expenses Details Report, or is included in your Business Costs Breakdown, then it has been posted against your budget.
Line date – this is the date the expense was incurred. For a reimbursement claim, this is the date that was selected as the expense date. For a payment card claim, it is the date the spend was made on the IPSA-provided payment card.
Claim line submitted date – the date you submitted the claim line to IPSA.
Supplier – to whom the payment was made.
Status – the status of a claim on MPD Expenses Details report shows whether an initiated claim is:
a "draft"– which means it has not been submitted)
"for approval" – which means it is waiting with yourself or IPSA, or
"posted" – which means it has been approved by IPSA and will be paid and allocated against your budget
Posted – an item of expenditure has been "posted" when it has been allocated – or “posted” – against your budget. Once posted, an item of expenditure will be included in the spend shown on your dashboard. Claims are only posted once all claim lines have been processed by IPSA.
Expense Type – the category that an item of expenditure falls under. When submitting claims this is selected by whoever made the claim. There is a complete list of all expense types as part of our evidence requirements.
Accruals accounting – this is the main method of accounting used by central government, including IPSA, as required by HM Treasury. Accruals accounting:
counts money as being spent when an expense was incurred, irrespective of when the cash was paid, and
revenue as received when earned, irrespective of when the income was received
For example, a fuel bill for the period January to March received and paid in April, will be recorded as expenditure for the period January to March.
Budget – the amount of money allocated for a specific purpose. The amount of each budget and its purpose is outlined in the Scheme of MPs' Staffing and Business Cost.
Year-end – in the accountancy world, organisations need to prepare their complete accounts each year. The "year-end" refers to the day the financial period ends. For IPSA this is the 31 March.
Year-end process – this is the process at the end of the financial year which allows any costs that have been paid in a different financial year to the one in which they were incurred to be moved into the correct financial year.
Financial year – the government financial year in the UK runs from 1 April to 31 March. This is the period that your budgets run between, meaning they will renew on 1 April each year. In IPSA Online the financial year that runs from 01/04/2020 to 31/03/2021 is referred to as "2020".
Period – these are the months of the financial year. They run from April to March. April is period 1 of the financial year. IPSA also uses period 13 and 14 where necessary, and in common with other organisations, to reflect adjustments needed for the financial year after the end of period 12 (March).
Pre-payment – costs for goods or services that relate to one financial year, but for which the payment was made in the previous financial year. If a claim is pre-paid then the cost of the claim is moved into the next financial year. For example, if you paid Council Tax in March, but it related to April, then this expenditure is a pre-payment.
Accrual – costs for goods or services that relate to one financial year, but for which the payment is made in the next. If a claim is accrued then the cost of a claim is moved back into the previous financial year. For example, if you paid Council Tax in April, but it related to March, then this expenditure is an accrual.
Repayment – when a cost or service is claimed, but subsequently repaid to IPSA.
Credit note – a tool used by IPSA to establish or recognise debt on IPSA Online which returns spend against your budget (crediting the budget). When you action a credit note you recognise there is debt owed to IPSA which is then credited against your budget.
Journal – a journal entry is an act of keeping or making records of any transactions. The journal entry can consist of several recordings, each of which is either a debit or a credit. If, for example, a processed cost was moved from the travel budget to the accommodation budget, then the accommodation budget would receive debit and the travel budget would receive credit.
Accrued income – this is income earned in one financial year and not yet paid to IPSA, but will be paid to IPSA in the next financial year. For example, subletting income earned in one financial year, but not received until the next.
Deferred income – this is income earned and paid to IPSA in one financial year where the service will be carried out in the next financial year. For example, subletting income paid in advance in one financial year, but for services provided in the next.
Overspend – when expenditure exceeds an allocated budget.
Expenditure – money spent on goods or services.