Draft Financial Manual

Draft Financial Manual

This revised edition of the financial manual is issued to complement the efforts of the new administration led by the Vice Chancellor. The Mission of this administration , since inception has been the restoration of rules and regulations guiding activities of staff, financially and otherwise and the need to adhere strictly to them in the conduct of the University business particularly in the control and management of public and resources of government. Commitment of staff to service, transparency and accountability as integral part of due process is the intent of this manual.
Since the last review of this document in 2002, there have been significant transformations, viz: re-structuring of the School of Part time, computerization of financial systems, and full adoption of e-registration, e-payment, e-collection and e-examination processes and also the decentralization of the administrative process e.g faculty finances.
The Complexity which University business is expected to assume under this administration has made it necessary to take a closer look, once again, at the financial Regulations by which University finance and accounting procedures are regulated. This review is necessary for any administration but more so for the catalyst poised for a change. For instance, Faculty finance offices are created out of management’s desire to take Bursary functions to the level of faculties/departments. It is all about decentralization of the Bursary Department whereby the needs of the faculties are satisfied through the faculty finance officers, thereby eliminating the bottlenecks associated with direct dealings with the central Bursary.
Accordingly, it is mandatory for all staff of the University to ensure strict compliance with the rules and regulations as contained in this manual. Primary responsibility in this regard falls on the shoulder of the Bursar in his double capacity as Chief financial adviser and University Bursar. He is expected as well, to ensure that all officers subordinate to him adhere strictly to the rules and regulations.

Since conception of Lagos State University in 1983, the codified financial procedure was reviewed in 2002 after the maiden publication in 1990. However, the current disposition, characterized by rapid changes in the last 5 years, made existing manual inadequate to take care of the growing needs of the University and subsequent development in the Edict establishing Lagos state University.

The financial management, policy and procedures manual is compiled with the primary aims of providing a comprehensive and practical guide, incorporating effective internal controls necessary for the management of University funds and its assets. The manual was revised to improve on the current accounting system and set appropriate standard for electronic record keeping, summarizing and reporting information relating to financial transactions undertaken by the University.

This manual was originally developed and now revised to meet the following objectives:

a) To state the accounting objectives, the accounting principles and practices to be followed.
b) To ensure that the activities of the University are conducted in compliance with requirement of the financial regulations, International Public Sector Accounting Standards (IPSAS) and Generally Accepted Accounting Practices (GAAP)
c) To ensure that the assets of the University are safeguarded, liabilities truly incurred and all expenditures made are in the best interest of the University.
d) To ensure that all revenue and receipt due to the University are completely collected and properly accounted for.
e) To provide an accounting system which complies with the requirements prescribed by law and in consonance with standard accounting practices.
f) To prepare yearly statutory accounts with supporting schedules.
g) To prepare financial plans.
h) To provide intelligent and regular timely reports to Management, Governing Council (through F&GPC), Government and other stake holders of the University.
i) To ensure lines of reporting and responsibility are clearly defined in the organogram.
j) The activities of each unit/sub-unit etc are clearly stated for strict compliance.
k) To spell out the authorities, responsibilities, duties and control of the staff of various sections and units as well as facilitates the identification of any officer that is guilty of financial irregularities.
l) To set out the procedures to be followed in the Bursary Department.
m) To serve as a reference resource for the University administrators
n) To foster improved uniformity and accuracy in record-keeping and financial reporting.
o) To improve accountability and stewardship with regard to University resources.
p) To help in training those who perform accounting functions.
q) To raise professional standards among accounting personnel.
r) To assure accounting practices conform to generally accepted accounting principles.
s) To assure the clear definition of financial management roles and responsibilities of various functions in the University.
t) To ensure that duties are properly segregated and documented.
u) To assure that transactions are properly identified and adequately supported with authorized original documentation.
v) To ensure that only properly approved and authorized transactions are paid for and that budgetary approvals are not exceeded.
w) From time to time, it may be necessary to revise this manual to bring in any changes that may arise. However, where if this manual is silent on any issue, current standard of accounting practice shall prevail. It is recommended that the manual shall be reviewed periodically say 5 years.

The Lagos state University was established through an enabling Act of Lagos State Laws No.9 of July 1984. The Main Campus is located along Badagry Expressway, Ojo. The Institution was formally opened in 1984 with few faculties and Departments.

It has gradually developed over the years and now has two Campuses: Ojo and Epe; College of Medicine, Ikeja and Lagos State University Museum and Lake of Mystery. Lately there has been tremendous improvement in infrastructure facilities in the University.

The organogram of the Bursary Department is on Appendix 1A. This Department of the University is responsible for receiving all Revenue due to the University, managing the resources and accounting for the funds to the Vice Chancellor who is the Chief Accounting Officer of the University.

The Department is headed by a Bursar –the financial adviser to the Vice Chancellor and assisted by other accounting personnel of various grades and qualifications. The Department currently has three (3) divisions viz: Treasury Services, Accounting Services and Faculty Finances headed by Deputy Bursars for smooth and effective operations. The sections are as indicated in the organogram on page ………

The Department shall be responsible directly to the Vice Chancellor and report to Governing Council of the University. To be headed by a Director who is professionally qualified with relevant experience.
The activities of the internal audit is not only finance related but cut across all Operations of the University. It has a duty to ensure that all the University internal control system are adequate and observed.
Its responsibilities amongst others shall be to review, appraise and report on:
(a) The soundness; adequacy and application of internal control systems.
(b) The extent to which the University’s assets and interest are accounted for and safeguarded from losses of all kinds arising from:
i. fraud and other irregularities;
ii. Curbing waste, extravagance and inefficient administration, poor value for money or other cause.
(c) The suitability and reliability of financial and other management procedures developed within the University.
The internal Audit shall meticulously ensure strict adherence to the internal control system and promptly report to the Vice Chancellor any departures from them.
The Internal Audit Department is guided by its own Manual for the day to day smooth Operations of the University.

V. The State Auditor General Office and Appointment of External Auditors
The Universities’ Act requires an annual audit of the financial records of all University segments. Management is responsible to ensure that the accounting records are maintained and financial statements are produced in accordance with generally accepted accounting principles.
The Auditor General, in addition to shortlisting and recommending competent firms of External Auditors to the University from which the University can appoint one; also has the responsibility to examine the financial statements, related records, and underlying evidence for the purpose of expressing an opinion on the fairness of presentation of the financial statements. In connection with the examination, the auditor will also report to management and the University Council any significant deficiencies that have been observed in the organization’s internal control processes. The internal audit department is part of the internal controls. The department has a vital role in ensuring continuous appraisals on the adequate functioning of internals and compliance with policies, procedures and statutory obligations. The Auditor General may utilize the findings and recommendations of the internal auditors as framework of reference for planning the external audit approach, if found useful.

VI. Audit Committee of the Governing Council
The Act setting up the University requires the Governing Council to establish an Audit Committee. This committee has responsibility to study the Auditor General’s and the internal auditor’s reports and letters to management, and management’s response to the audit issues raised from time to time. This committee then makes recommendations to the Council for appropriate action.

VII. Accrual Basis of Accounting
The accrual basis of accounting shall be adopted for preparing financial reports to be presented in accordance with GAAP and in consonance with IPSAS. The accrual basis is widely accepted as providing a more complete record of an entity’s assets, liabilities, revenues, and expenses than the cash basis of accounting. Financial statements prepared on the accrual basis inform users about revenue that has been earned and expenses that have been ‘incurred, using multiple criteria in addition to the receipt or payment of cash.

The unit shall be responsible and accountable for the receipt of all revenues accruable to the University paid either electronically via the University website/ other electronic transfers or through direct cash deposits to the University’s bank Accounts.

The following are the major functions of the unit:
i. Receives on behalf of the University all monies that are not paid electronically into the University’s bank accounts and issue receipt for such;
ii. Liaises with both State and Federal government on the University Tax matters i.e PAYE, VAT, WHT etc.
iii. Liaise with Banking Services and Disbursement unit by ensuring that all tax deductions are remitted to the relevant tax Authority promptly.
iv. Prepares monthly revenue of the University, wherein receipts are issued by the unit
v. Process tax clearance certificates for staff
vi. Carries out other assignments assign to it by the Bursar

1. All Academic fees
2. Subvention
3. Income from technical. Cooperation
4. Grants
5. Rent from University Properties
6. Income from services rendered
7. Endowment Donations
8. Contract fees
9. Sales of Forms
10. Other General Income
11. Contractor registration fee
12. Transcript fee
13. Verification fee e.t.c

1.4 Documents/Records in use
I. Bank tellers.
II. University official rubber stamp.
III. Mail register.
IV. Electronic Revenue Cash book (Admon Accounting software)
V. Electronic Receipts (Admon Accounting software)
VI. Banks statement.
VII. Monthly Cash Book File
VIII. Receipts file

1. All fees shall be paid directly into the University’s bank Accounts hence no cash receipt is
2. All cheques received on behalf of the University shall be promptly and properly lodged through bank tellers into the University bank Accounts.
3. To regularly liaise with the reconciliation unit in order to ensure that all lodgments into the
University Bank Accounts are completely posted into appropriate Accounts of the University and properly reflected in the monthly bank reconciliation statement.
4. Attach copy of the teller to the duplicated receipt generated from the Admon Accounting in respect of lodgments which are yet to be confirmed or verified through the bank statement before such receipt is signed by Head of the Revenue unit.
5. Ensure that all receipts raised on behalf of the University are endorsed with the University Stamp.
6. Electronic Receipt shall be generated for all money paid and confirmed receipt into the University’s bank account
Opening of New Bank Account: All University’s new bank accounts shall be opened upon the resolution and approval of the Management Committee headed by the Vice Chancellor on the advice of the Bursar having considered the following:
I. Review of the last 3 years Audited Accounts of the bank
II. Profile of the Bank including its Board of Directors/ its management team
III. And other necessary information in respect of the bank’s position in the banking industry.
IV. On no account should any person, group of persons, faculty, department, or division of the University operate any account in the name of Lagos State University without prior written approval from the V.C. Such approval must be communicated to the Bursar for effective control.
V. Opening of new accounts is done in conjunction with the Payment unit.


Grants are non-refundable fund, bounty, contribution, gifts or subsidy ( in cash or kind) bestowed by individuals, a government, companies, foundation or trust etc. grants are usually conditional upon certain qualification as to the use, maintenance of specified standard or proportional contribution of grantees or other grantors.


i. Capital Grants- e.g. Endowment, Building, Equipment and Construction
ii. General Operating Grants-They are for everyday operation of the University
iii. Program/Project Grants-they are for specific activity or plan within an organization that are usually time limited
iv. Start-Up Grants-They cover the cost of starting a new project
v. Technical assistance Grants-These support the University development or infrastructural needs
vi. Planning Grants-These supports planning stages of future projects

i. All the funds coming into the University’s bank accounts are either electronically transferred or cheque issued in the name of the University AND not on individuals’ names, such cheque is paid into the University bank accounts opened or designated for that purpose.
ii. For cheque, receipt is issued by the Tax Management and Revenue Unit (TMRU) AND letter of acknowledgment and gratitude be written by the management and given to the donors
iii. The fund is posted into the appropriate ledger accounts in our Admon Software
iv. The fund must be used specifically for the purpose of the grant.
v. For disbursement of any part of the fund, all our internal payment procedures and grantor’s baseline requirements must be must be followed before any payment is made.
vi. Procurement law and manuals must be adhere to regarding all transactions involving purchases and assets acquisition
vii. For purchases that involved an assets, such assets must be properly coded and brought into the University book of accounts

Recognition of grants in the University’s book of accounts should follow the accounting standards as enunciated in International Public Sector Accounting Standards IPSAS17 – ‘REVENUE FROM NON-EXCHANGE TRANSACTION’ which stipulates ‘fair value’ recognition for any grant other than cash. Grant is recognized as revenue if no condition is attached to it. Where there is condition attached, the grant is recognized as liability (revenue differed).


Donation is unconditional parting with valuable assets by individuals, a government, corporations, trust or as a result of a bequest in a WILL. However, donations can come in form of Cash as well.
There are some donations that come to the University with conditions attached to them, in applying such donations, strict adherence must be observed.

i. Every donated asset must be properly coded and brought into the book of accounts of the University
ii. Letter of acknowledgment and gratitude be written to the donor of such asset(s).
iii. Cash and cheque donations must be duly acknowledged, lodged into the respective University Bank Account after which it is posted into the cash book and receipt issued by TMRU accordingly
iv. Internal payment procedures of the University also apply before any donated amounts can be spent.
v. For donation with condition, such condition must be observed and adhere to when applying such donation.

Recognition of donations in the University’s book of accounts should follow the accounting standards as enunciated in International Public Sector Accounting Standards IPSAS17, which is ‘REVENUE FROM NON-EXCHANGE TRANSACTION’ that stipulates fair value recognition for any grant other than cash and revenue is recognized for any grant that does not have condition attached to it. Where there is condition, liability is recognized (revenue differed).
The unit is under the immediate supervision of the Deputy Bursar (TS) and under the overall supervision of the Bursar.
• Revenue cash book
• Revenue Analysis by budget head
• Revenue Analysis by programmes
• Revenue Analysis by Faculty
• Revenue Analysis by Department
• Summary revenue report
• Revenue variance report
• Miscellaneous Revenue Report
• Summary total grants income report
• Grants Income Analysis report by grantors
• Donated asset income report



Other Receipt
This module is for payments, other than school fee. The procedure is as highlighted below:

 As soon as the student opening record form appears, select the option of the Other receipts.
 Form title “Miscellaneous revenue” shows up. Enter the name of the payee.
 Enter the Course of Choice.
 Select the Type of fees paid for. Select the bursary unit the course falls under.
 The description comes up by default.
 Select the date, enter the teller no, payment mode, the bank.
 Enter the Amount paid
 Click Pay button to finish the transactions.



This unit is directly involved with overseeing the planning, identifying, executing and monitoring the investments and other risk management policy of the university. These cover Investments, Insurance and other risk related assets.

From time to time, the Vice Chancellor, on the advice of the Bursar, shall authorize the investment of the excess university funds on short time money market instruments, stock market, property or any other form of investment in the best interest of the University. Where excess funds are not in the immediate or short term use by the University; medium or long term investment shall be considered subject to the approval of the Governing council of the University if above the Vice Chancellor’s approval.

i. Provide regular updates of situation in Money and Capital markets
ii. Analyze each of the available opportunities for investment
iii. Advise on the best investment portfolio for the University
iv. Ensures that investment instructions to the banks are complied with.
i. Keep records of all University investment with particular attention to the Principal, Rate of interest, Tenure, Terms and conditions etc.
ii. Ensures that appropriate accounts are updated in the Admon system when investments are booked.
iii. Ensures that on maturity of investment, if not roll over, the principal plus accrued interest are credited to the University’s bank account and appropriate records in Admon system are updated and the interest income element recognized in the system.
iv. To keep records of all University investments.

The unit shall be headed by a competent and qualified bursary staff under the immediate supervision of the Deputy Bursar (Treasury Services) and overall supervision of the University’s Bursar

• Summary monthly, quarterly and annual investment report by category
• Investments income analysis report
• Investment income variance report
• Investment registers.
• Correspondence file
• Investment certificates file

There is a growing need for the assets of the University to be insured in case of any unforeseen circumstances. The assets of the University are worth several billions of Naira and it will be disastrous where in case of any disaster that the University is unable to recover some funds to assist in the replacement of any loss of asset.

The University therefore needs to mitigate all its property against the following risks:
a. fire, burglary and theft
b. Motor Insurance
c. Any other insurance policy that will take the University interest into consideration.
d. Insurance of Principal officers
e. Employee assurance policy.

A. Processing Of Insurance Policy
i. The unit shall request for list of vehicles from works and physical planning department on all University vehicles.
ii. List of assets are requested from the fixed asset schedule officer.
iii. A list of the University’s staff is also obtained from the establishment division of the Registry.
iv. Each of the obtained list is scrutinized for correctness, and completeness.
v. The processed list are forwarded to the appropriate insurance broker to determine premium payable.
vi. Premium payable on each class of insurance policy are obtained and process for payment
vii. Insurance cover or policy on each class of insurance is also obtained.
viii. Ensures that a reputable broker that will liaise with the insurance company is engaged.
ix. Ensures that correct premiums for the University assets are correctly calculated and paid as at when due.
x. Ensures those correct premiums are paid on life insurance policy of staff as at when due…This is in line with Pension Reform Acts of 2014 as Amended.
B. Procesing of insurance claim
i. On receipt of report of damage or loss of item, theft, accident on property or life.
ii. The relevant insurance company is duly informed and all relevant forms for claims are obtained and completed, and
iii. Follow up to point of settlement.

i. Claims form
ii. Mail register
iii. Policy files
iv. Record of firms of insurance/brokers.
v. Cover note

i. Claim form, policy files are all security documents and should be kept under lock and key.
ii. No staff of the unit shall endorse any process without due authorization by head of the unit.
iii. Any misfortune must be reported officially to the unit.
iv. There shall be regular review and update of list of insurable items.

The unit is also saddle with the responsibility of ensuring that all risks associated with operations in the University are identified, analyzed for their potential effects and possible mitigating factors, and then reported to the Vice Chancellor through the Bursar on how the risks can be mitigated.

There is a need for risk management, control and governance arrangements by:
i. identify nature and extent of the risks facing the University
ii. Identify the extent and categories of risk that is acceptable to the University to bear.
iii. Identify the likelihood of risks occurring
iv. identify the University’s ability to reduce the incidence and impact of risk occurrence
v. Cost of control relative to the benefit obtained in managing the related risk

There is always need for the University to look inward and deepen our Internally Generate Revenue (IGR) in support of the subvention received from the State Government. For this reason, there shall be a Venture Unit which shall be responsible for the financial management of the University ventures which include:
a. Staff School
b. Information and Communication Technology Centre ( ICTC)
c. Car park
d. Lock –up shops
e. Press centre and
f. LASU Consultancy.
g. LASU International School
h. LASU Catering services
i. Others.

Each of the business units shall have its separate management Board (Committee) for the purpose of decision making and management. A bursary representative shall be on each Committee. The Committees report to the Board of the ventures limited. This is however still in the formative stage.

i. The head of the venture keeps all accounting records for each of the business units
ii. He is responsible and accountable for all receipts and payment.
iii. He prepares financial statement of each ventures unit.
iv. He as well prepares consolidated account for the whole ventures.
v. He maintains records of all payments for each of the business units
vi. He supervises all accounting staff in the ventures unit
vii. He represents the Bursar at all meetings of the ventures
viii. He prepares budget for each of the business units.
ix. He handles all banking matters relating to each of the business units.
x. He ensures that the internal controls put in place are strictly followed as contained in the Bursary financial manual.

i. All expenses in each of the units shall be approved by the Chairman of the board.
ii. Signatories to the bank accounts are same as that of the University. Although it used to be that of the Chairman and Bursar.
iii. Procedure for payment of expenditure is as obtained in the main bursary.
iv. All income are receipted for using University approved receipt.
v. All monies shall be deposited with the approved banks.

i. At the end of the financial year, a year end trial balance shall be extracted and necessary adjustments made before Statement of Comprehensive Income and Statement of Financial Position with necessary supporting documents are drawn up.
ii. All working papers leading to the final trial balance and final accounts must be duly filed and safely kept, for both internal and external auditing.
iii. It is imperative that all bank accounts are reconciled and all ledgers agreed with their accounts for the purpose of final accounts.
iv. For the purpose of final accounts, all expenses which relate to the year, even when they have not been paid, shall be accrued. This is to ensure that costs are matched with the revenue of the year during which they are incurred. Also all unpaid bills of quantity in respect of capital projects and all suppliers/contractors’ invoices outstanding at the end of the year and not yet passed through the books of accounts shall be accrued.
v. All commitments by LPO and contract agreements for which no benefit has been enjoyed by the University shall only be shown on the final accounts by way of notes as contingent liabilities.
vi. Adequate provisions in line with the provision of this Manual or as decided by Management and approved by the Vice Chancellor shall be made for depreciation, bad debts, if any, and contingent liability.
vii. The final accounts shall include statement of Comprehensive income and Statement of financial position.
viii. The financial statements shall be ready for statutory audit not later than three months after the financial year end.

i. Receipt booklets shall be printed by the order of the Bursar.
ii. Cash payment should be discouraged. All payments should be made directly into the designated bank accounts.
iii. Receipt booklets shall be kept in the central stores.
iv. Regular reconciliation
v. All security documents shall be kept under lock and key

The University has just incorporated the above company to generate more funds. It is still at the embryo stage hence the procedures above is still operational.


The BSD is a Unit in the Bursary Department and its major function involves the disbursement of the University funds. In discharging its duties the unit disburses funds in cheque, cash and electronically. The unit deals with staff, students and the general public.

The functions of Payment Unit include:
i. It deals with students, staff and the general public. These functions include:-
ii. Issuance of cheques
iii. -Disbursement of imprest by cash
iv. Preparation of weekly disbursement schedule
v. Maintenance of transfer instructions File/Register
vi. Filing of payment vouchers
vii. Confirmation of cheques/transfers to banks.
viii. Posting into the Electronic cash book

The University as at now does not operate in cash except in the case of Imprest. Any officer in the Unit could be assigned to handle this schedule.

i. Cheque book
ii. Payment Vouchers
iii. Mandate Stamps
iv. Transfer/Cheque Register
v. Electronic Petty/Imprest Cash book in the Admon System
vi. Mail Register
vii. Electronic Payment cash book in the Admon system
viii. Petty Cash Voucher (after re-imbursement)
ix. Confirmation of cheques/transfers instructions(schedule)
The registers maintained by the Unit and their purposes include:-
• Cheque Register – For release of cheques to their bonafide beneficiaries by the Payment Unit, in case of Electronic transfer payments, the beneficiaries must have signed the payment vouchers. Incoming Mail Register – To record all mails including Payment Vouchers (PV) that are received in the payment unit
• Cheque Book Movement Register – To record receipt and issuance of cheque books for certain transactions.
• Dispatch Register – To record all outgoing mails and trace movement of documents from BSD Office to other offices

• Transfer/Cheque issued schedule – This is a weekly report made to the Head, reconciliation unit for the preparation of Cash Position
• Weekly report- This report is usually submitted to the Vice Chancellor on weekly basis.
• Any other report as may be required by the Bursar who is the approving authority of reports; and could be generated from the system.

Payments are made for all expenditure whether Capital, Special or Recurrent through authorized and duly approved Payment Vouchers. Such payment vouchers must have attached to them approved by authorized senior officers with power to approve such expenditure and also the authorization of the Bursar to process the payment.

Under the newly introduced computer system in the Bursary, a given expenditure takes the following steps:
i. The Internal Audit, having vouched and passed vouchers for payments, would forward the voucher to Payment Unit for cheque writing.
ii. The Payment unit upon receipt of the voucher will record it in the incoming mails.
iii. The Head of unit, will peruse the payment Voucher with the supporting documents to ensure that such payment has been duly approved by the appropriate authorities.
iv. Having satisfied with step iii above, the head will then direct the writing of the transfer/ cheque .
v. The written transfer/ cheques shall be posted on to the system immediately.
vi. For transfer payments, the amounts to be paid with details of the beneficiaries will be done on the Admon System by the assigned officers.
vii. The system will automatically generate Bank Confirmation through a print-out
viii. The Payment Voucher and the supporting documents along with Bank Confirmation written shall be forwarded for signature.
ix. All written and signed cheques ready for collection shall be recorded into the Cheque Register before their release to the payees/beneficiaries
x. Vouchers must be signed by the payee as acknowledgement of payment before the release of cheque or transfers made.
xi. Cheque Register must also be signed before the release of cheque to the payee.

Cheques should be legibly written with particular attention to names, amount in words and figure as they appear on the payment voucher, including the date.
i. Should any anomaly be observed, such should be brought to the attention of the head of unit.
ii. Complete the cheque stub with particulars of the cheque such as date, payee, amount, purpose and reference (CD) number of the payment voucher.
iii. Write the Cheque Number on the payment voucher including the date as well as the bank accounting code.
iv. The payment voucher must be stamped “paid” immediately to avoid duplication of payment.
v. Payment shall be posted immediately onto the system using all necessary information on the payment voucher to generate payment cashbook. Thereafter, the voucher shall be marked POSTED.
vi. Cheques must therefore be signed along-side the confirmation list by the signatories.
vii. All cheques must be signed according to the mandate provided by the University management.

i. A cheque can be collected by the duly identified payee or an authorized person with necessary proof of identity .In the case of corporate body, the representative must be identified with a letter of authority and other means of identification e. g. official ID. Card, Drivers’ license, National ID Card.
ii. Any form of identification used must be photocopied and attached to payment voucher.
iii. Where the payee is illiterate, his thumb mark shall be witnessed by any literate staff member of the University other than the paying cashier or officer.
iv. All paid vouchers must be serially arranged and filed.
v. All payees must be notified when cheques are ready for collection to reduce or eliminate accumulation of uncollected cheques.
vi. List of stale cheques should be periodically generated and forwarded to the Bursar for her attention and for reversal in the cashbook.
vii. Payment to foreign creditors shall be effected in accordance with the Nigerian Foreign Exchange regulations as established by the Central Bank of Nigeria.

• The Payee will write a letter to the Bursar, stating the particulars on the cheque such as the Date, Name and Amount on the Cheque.
• The Bursar will instruct the payment unit to write a letter to the Bank for stoppage of the Cheque.
• The Payment Unit will issue another cheque with a confirmation to the bank after confirming that the cheque had not been cashed.
• The Payee whose cheque was stolen or misplaced will write a letter of indemnity that the cheque, if later found will not be presented to the bank for fear of double payment.

The main features of the Petty Cash System shall be as follows:
• An imprest cash system shall be operated only by the Departments of the University approved from time to time by the V.C. Petty Cash float shall be operated as determined from time to time by the V.C. on the advice of the Bursar.
• Imprests are for minor recurrent expenditure to enhance smooth daily operation in the University, its schools and colleges.
• All payments out of Petty Cash shall be made on the basis of petty cash vouchers that must have been duly processed by APPM unit or FFO as the case may be.
• The Petty cash float of the University shall be determined from time to time. Replenishment shall take place on monthly basis after retirement of previous month imprest.
• There shall be a petty cash box and the cash balance shall be kept in it. The box shall be kept by the imprest holder in a safe.
• All payments from petty cash must be supported by properly approved petty cash vouchers with relevant documents which must be agreed with the total amount of the claim.
• All replenishment of petty cash float shall be by cheque issued/transfer on the University account and shall be for the exact amount of expenditure as at the time of replenishment.
• Before replenishment of the University float, the petty cash book must have been posted.
• A petty cash book shall be maintained by the petty cashier or faculty finance officer. Petty Cash transactions shall be analyzed by the expense heads provided for in the accounting codes at the end of the month.
• Entries in the petty cash book are summarized by expense codes and are to be posted straight into the general ledger.
• Only the Bursar shall be allowed to keep a buffer for special cash expense purposes in Case of emergency.

i. To avoid fraud or for early detention of possible fraud on petty cash, periodic cash surveys shall be carried out by the Internal Auditor which shall involve the following:
ii. Checking of the cash book with payment vouchers.
iii. The cash in hand must be verified by the Internal Auditor who must initial the petty cash book after such check. The petty cash book balance must agree with the physical cash in hand of the cashier.
iv. Besides the regular survey, the Internal Auditor shall carry out at irregular but frequent intervals spot checks of the cash.
v. Cash count exercise at the end of the Financial Year shall be carried out by the Internal Auditor who will issue the Certificate to be produced by the Head of the BSD Unit whenever it is requested for.

i. A strong room shall be maintained for Cash, Cheque books, security documents and records.
ii. On no circumstance shall cheque exchange be allowed.
iii. There shall be two (2) keys to the safe, original with the cashier while the duplicate shall be deposited with the Bursar.
iv. No personal money shall be kept in the safe except with the consent of the Bursar.
v. All cancelled cheques must be perforated. New Cheque books must be collected by the assigned officer with duly authorized letter to the Bank.
vi. All correspondences to the banks on financial matters must be duly signed by the signatories.
vii. On no account shall Bank Confirmation list be given to the bank other than through the authorized officer.

The Banking services and Disbursement unit should ensure that:
i. Details of beneficiaries namely; account name; account number; bank name are correct before taking them to bank;
ii. After the transfer, a visit should be made to bank, to ascertain if all transfers are successful, a form could be designed internally to care of ‘FAILED TRANSACTION”
iii. Cash book in the Admon system should be ‘DEBITED’ with the failed transactions.
iv. After correcting what led to the failure, which could be incorrect bank name, incorrect account number, network issues etc, another electronic transfer payment should be prepared, ‘’initial approval and failed transaction form should be attached to the new electronic transfer payment, duly signed by authorized signatories before being taken to the bank.

The head of Unit reports to the Bursar through Deputy Bursar (TS) in all financial matters.


This is where the approved coded invoices are finally paid.

Invoice Payment
 Open the form via Cashier  Payment
 Click creditors to arrive at the form over leave.
 Select or Enter the Coding No you want to process.
 Select the Date and the Budget year, amount Due, Balance comes up by default
 Select Payment Mode.
 Enter Amount To Pay.
 Enter The Right Cheque No.
 Select the Right Bank from where the cheque was written.
 Select the Contractor By checking the check box and the combo box will be filled with supplier name. If the Payee is Staff uncheck the Check Box and the combo Box will be filled with staff name
 After you are sure of all the entries, Click on the Effect Payment Button, To submit the transaction.

Payment Edit
 Open the form via Cashier  Edit Payment
 The form should be the one shown below.
 Select or Enter the Coding No you want to edit.
 Enter the Old cheque no. Amount Due, Balance and Amount posted Before comes up by default
 Select the Date.
 Select Payment Mode.
 Enter Amount To Pay.
 Enter The Right Cheque No.
 Select the Right Bank from where the cheque was written.
 Select the Contractor By checking the check box and the combo box will be filled with supplier name. If the Payee is Staff uncheck the Check Box and the combo Box will be filled with staff name
 After you are sure of all the entries, Click on the Update Payment Button, To submit the transaction.


The Pension and Payroll Unit is an integral part of the Bursary department. It comprises the Academic payroll, Senior Non-academic payroll, Junior Non-academic payroll and others, viz: Pensioners, Legionnaires, casuals. Salaries of staff are processed through a computerized electronic system using Admon Payroll Accounting Software and hence it is operated through a local area network (LAN) vis-à-vis other related Units in Bursary whose activities are inter-locked with the Unit. The Accounting Software is integrated to general ledger for seamless reporting. Salaries and Wages of staff are normally paid on a monthly basis through the banks.

a. Monthly payroll preparation for all strata of staff in the University including pensioners.
b. Maintenance of individual staff files and salary sheets (P.E) for members of staff on the payroll.
c. Tax computation of payable tax on all staff salaries on the payroll and deduction of same thereon from staff’s salaries.
d. Processing of tax clearance certificates for staff.
e. Processing and computations of retirement benefits for retired members of staff.
f. Monthly reports on payroll.

1. Introduction of Staff onto the payroll
Introduction of new staff onto the payroll emanates from the Registrar or his delegate in form of employment letter, certificate of assumption of duty and other relevant document as the case may be which shall contain time of commencement of appointment, the salary grade at the point of entry, the date the employee assumed duty, designation of employee, class of employment permanent, temporary, contract, sabbatical etc. are forwarded to the Bursar.
2. On receipt of employment papers by the Bursar, the documents after being certified okay, shall be forwarded to the payroll for processing of salary and necessary documentation.
3. Upon receipt of the employment papers, a file shall be created for the staff member on the payroll and salaries shall be processed using the data received.
4. Salary variation shall be effected on receipt of information from the Registrar. Such variation could be due to :
• Promotion
• Increment
• Upgrading
• Deduction etc.
5. At the completion of the payroll, it shall be passed to the Internal Audit for checking. The Internal Audit shall thereafter return the audited payroll to PP unit for sorting.
6. After the sorting of the audited payroll, it shall be forwarded to BSD unit of the Bursary for Electronic transfer payments instruction preparation in Admon software.
7. The salaries of staff shall be paid directly to the bank of their choice from amongst the approved banks. The bank transfer instructions shall be prepared in triplicate. Original copy to be forwarded to the bank. Duplicate copy to be kept in the custody of the BSD Unit, while the third (3rd) copy shall be retained in the Pension & Payroll Unit (PP).

5.3.1 Overtime
• Overtime is allowed for Administrative and Technical staff up to CONNUNASS 12.
• Duly approved overtime by the appropriate officer are forwarded to the Directorate of Audit. The cleared overtime(s) of staff for each month is then forwarded to Payroll for inputting into the affected staff’.

5.3.2 Termination of various names from Payroll
Names could be terminated/excluded from Payroll in two major ways:
i. By Program
In the case of contract staff, staff on sabbatical, temporary staff and other class of staff engaged for a specific period of time, such names would be terminated from Payroll on the Completion of the tenure. This is so because such end-time must have been programmed into the system. Except in the case of renewal, such names must be particularly checked for in the Payroll as part of general review.

ii. By Instruction
Any other name(s) of staff that shall be excluded from Payroll shall originate from the registrar to the Payroll officer through the Bursar.

5.2.3 AdmonPay Procedure Manual
Steps To Locate AdmonPay Icon
 Turn on the Computer System and allow to boot
 Double Click the AdmonPay icon on the desktop (circled in the diagram below) and the log on form will display.


The login Box enables authorized users to have access to the application by typing in the valid User Name and Password which will be created by the Database Administrator. The Login box therefore prevents unauthorized users from having access to the application.

Employee Record: The employee record is used to enter details about each employee of the institution.

1. Open the form, fill in the record of the employee in the various fields provided in the form.
2. Click on Save.

To Edit Employee Record
1. click on Edit
2. Type in the correct record into the field to be edited.
3. Click Save.

Staff Salary Cessation and Penalty: This form is used to terminate or suspend an employee.
How to Terminate Staff Salary
1. Select the staff name in the Staff Id field.
2. Select the Termination date.
3. select the cessation type
4. Type in the reason for the action.
5. Click on Save.


Reports: The reports under the employee record module, enables the user to view reports of all employees, the earning structure of each employee category and each individual staff earnings details.
How to view Employee Record reports.

1. Click on the employee record menu.
2. Click on reports.
3. Select the report to be viewed.
4. Click Ok.

Report Form.
Variation: The variation form includes the following; The Variation entry form, the General Adjustment form and the staff promotion form.

Variation Entry Form: The form is where all the valid variation is entered.
How to pass Variation.
1. Click on the staff Id.
2. Click on the Variation type i.e. Entry or Upfront.
3. Select the Salary Item e.g. salary advance
4. Select the Status i.e. Pay or Deduct.
5. Select the process option i.e. by Rate or Value.
6. Type in the principal amount.
7. Type in the Run Period i.e. the number of times that the amount will be paid or deducted.
8. Click on save.

How to Edit Variation Entry.
1. Select the name of the staff.
2. Click on Edit.
3. Click on the arrow that is on the Ref No.
4. Select the item that is to be edited.
5. Click on Reset.
6. A text Box will appear on the form.
7. Click on “Yes” to undo the Variation or “No” to leave the variation.
8. If the variation has been Reset, repost the valid variation entry and Save.

Payroll Processing: After all the variations and deductions as well as other entries have been captured for the month, the payroll is then processed using the payroll processing form. The payroll can be processed either monthly or bi-monthly by clicking on COMPUTE.
How to Process Payroll.
1. Select the month to be processed.
2. Select the date.
3. Click on Compute.
4. Click on Ok after the payroll has computed.

Note: The User must ensure that he does not click on the UPDATE button until he is sure that all the entries for the month are accurate after he has computed the payroll.. This means that the user can compute as many times as possible if he has to make any adjustments to the payroll. He should only UPDATE when he is sure that he is through with the payroll for that month.

The UPDATE of the payroll acts as a backup of the payroll processed and will be stored in the database of the system.

Payroll Report: The report enables the User to view all the various transactions for the month.


Bank Transfer: The report is meant to give the user the list of all staff and the amount that will be remitted to their various banks.
The report gives the user the option of viewing by bank as well all those that will be paid in cash.

Staff Pay slip. The report enables the user to view and print the pay slip of all the employees.

Transaction Details: This form allows the user to view the details of each transaction.

Accessibility: This menu is meant to allow the user log off the system and allow for another user to login or totally exit the system.

Since 1st June, 2007, contributory system of pension scheme has been on in Lagos State University replacing the old system of pay-as-you-go social security pension system.

The following have been approved by the University as pension fund Administrators:
– IBTC Pension Managers Ltd,
– Leadway Pension PFA Ltd,
– ARM Pension Managers Ltd,
– Trust Fund Pensions PLC,
– Crusader Sterling Pensions Ltd,
– NLPC Pension Fund Administrators Ltd.

Under this system, the employees contribute a minimum of 7.5% of their Basic Salary, Housing and transport Allowances. The University shall contribute 7.5% in the case of the Public Sector. The University is obliged to deduct and remit contribution to custodian within 7 days from the day the employee is paid his Salary while the custodian shall notify the PFA within 24 hours of the receipt of contribution. Contribution and retirement benefit are tax exempt.

Under the new Pension Reform Acts of 2014 as amended, the employer’s minimum contribution is now 10% and while minimum contribution of employees is now 8%.

The implementation of the scheme necessitates amendments of the payroll systems of Lagos State University to reflect contributions as follows:
(a) Cash backing for the personnel cost will be released net of the contributions of both the employee and employer. The total salary of individual employee’s and employer’s contribution to the scheme.
(b) Total contributions by the employee as well as the employer shall then be compiled along with the schedule of each contributor monthly and paid to their respective Pension Fund Administrator.

• Employer and Employers’ contributions have been centralized and deducted at source by Payroll unit.

• Contributions are being lodged into a Pension Contribution Account

• Contributions are being remitted to the retirement saving Accounts of employees who have registered with the Pension Fund Administrators of their choice after due verification.

• The University’s contributions to pension scheme is done inform of allowance being paid as part of employee’s

• Summary for each PFA is prepared from salaries for raising payment voucher.

• The Payment unit therefore issues cheque for each PFA to the tune of contributions due as per the schedule.

• The Pension Unit of registry collects all cheques issued for remittance to each custodian of PFA with due acknowledgement. Each PFA will thereafter be informed of remittances received by the Custodian on their behalf. On receipt of notice of collection by custodian, a soft copy of deduction schedules will be collected from payroll unit of the University for posting into each Staffs ‘RSA’ Retirement Savings Account. Each staff would then be notified of the current contribution and balance(s) on their account as at that date.

• It must be noted that no treatment on this transaction is required in the university Account except 7.5%contributed by the University as an allowance item and 15% as deduction item on the employees.
Every employee shall maintain an account referred to as retirement savings account, in his name, with any pension Fund Administrator of his choice. The employee may, not more than once in a year, transfer the retirement savings account maintained from one pension administrator to another without adducing any reason for such transfer.

Any employee who at the commencement of this Act is entitled to retirement benefits under any pension scheme existing before the commencement of the Act but has three (3) or less years to retire shall be exempted from the scheme.

Any pensioner running on the old scheme is expected to complete ‘I Am Alive’ form obtained from the Pension Unit of the registry, duly filled and presented to the Bursar for processing for payment of pension on quarterly basis.

I. The University sets a certain percentage monthly and invest in an interest generated fixed deposit. The amount is to fund the past service obligation of staff before the introduction of the Pension Reform Acts of 2004, which took off in Lagos in 2007. On retirement of staff in this category, his or her past entitlements are paid to his or her Pension Fund Administrator.
II. The University also set aside 1% of her monthly payroll cost to fund the pension and gratuity costs of staff that are excluded from the provision of Pension Reform Acts of 2004, whenever the liabilities become due.
III. The monthly contribution of staff that has not registered with any PFAs of their choice are invested in an interest yielding deposit. Whenever their PFAs are introduced to the University, their accumulated contribution plus accrued interests are transferred to their PFAs in compliance with the provision of Pension Reform Acts of 2014 as amended

A. Registers
i. Payment voucher
ii. Mails registers
iii. File movement
iv. Pay advice register

B. Records
i. Overtime sheets/forms
ii. Salary sheets
iii. Nominal roll reports from the departments
iv. Copies of bank schedules
v. Monthly input documents
vi. Salary Analysis
vii. Deductions schedules
viii. Reports generated from monthly payroll e.g. nominal roll, variation reports.

I. No salary payment is to be made to a new member of staff without a complete documentation, which includes; letter of Appointment, Assumption of Duty Certificate etc.
II. All new employees’ employment papers MUST be authorized for payment by the Bursar and must equally be endorsed for processing by the Head of the payroll Unit before such is introduced onto the payroll.
III. Certificate of Resumption of duty shall be filled and forwarded to the payroll Section whenever a member of staff returns from Sabbatical leave, leave of absence, training leave/study leave etc. before such staff member’s salary is re-introduced onto the payroll.
IV. In the administration of payroll, no one staff member shall be allowed to carry out series of operations without same being checked by some other staff. For instance, a staff member charged with the responsibility of payroll preparation shall not be allowed to write salary cheques/transfer payments to the banks or partake in the actual payment of salaries.
V. All Heads of Departments shall endorse the pay advice confirmation of their staff on a monthly basis to the Bursar as part of the important input required for the processing of the salaries of the staff concerned. This input must reach the Bursary Department on or before the 5th of every month
VI. Any member of staff whose name is not on the nominal roll forwarded from the department for a given month, shall not be paid salary for that month and subsequently until justification is given.
VII. Approved overtime claims, shall be forwarded directly to the Internal Audit with ‘Authorization memo’ signed by the respective Head of departments, Deans, Directors etc. detailing the names of the beneficiaries (i.e. claimant). Overtime claims cleared for payment by the Internal Audit shall be forwarded to the payroll Unit based on the approved rates.
VIII. All complaints from staff on salary payment which require correction/adjustment on the payroll must be formalized i.e. to be made in writing and must be accompanied by substantive document/evidence e.g. payslip. Such should be directed to the Head of payroll. However, in case of fundamental problem such should be directed to the Bursar.
IX. Information relating to bank account must be forwarded in writing to the Bursar for onward transmission to the Head, Pension & Payroll Unit and subsequently to the relevant/scheduled officer on the designated payroll so that it can be inputed onto the payroll.
X. All information relating to adjustment/change in respect of staff salaries such as location, salary grade, banks, names, class of employment etc. must be formalized for record purpose.
XI. On completion of the monthly salary, the generated nominal roll from the system shall be used to reconcile the nominal role received from various department that from the departments.

The Head of section is to report through the Deputy Bursar (Treasury Services) to the Bursar.
• Any information emanating from the payroll to members of staff is done through the Bursar.
• The Head of Pension & Payroll unit relates to all members of staff in the unit relates to all members of staff in the unit

This unit shall engage in the preparation, control and monitoring of the University budget. It shall also produce the budget performance reports on regular basis to the Bursar for onward transmission to the University management for decision making on financial matters.
Budgets are now prepared on faculty and departmental basis. The Bursary data base is the facilities for monitoring budget on faculty basis. For control purposes, the budget will still be committed centrally. This will serve as a control on the administration of budget. The University Budget shall comprise the Capital, Special and Recurrent (Personnel and other charges) estimates. Recurrent revenue shall also be prepared for internally generated funds.

• Preparation of University annual Budget
• Preparation of monthly financial reports for management information
• Preparation of monthly report to show unit, Department and faculties budgetary performance
• Budget performance review and variance analysis
• Commitment of all expenditure

i. During the first week of May every year, the Bursar or his delegate shall call for budget inputs from all faculties and Departments of the University on prescribed format as circulated.
ii. The Department inputs shall include requirements during the coming year in respect of recurrent, special and capital expenditure.
iii. The Bursar or his delegate shall collate Department budgets and circulate the consolidated budget proposal to all Departments and invite them to budget session.
iv. Vice Chancellor, Director of Academic Planning, Bursar, Director of Works and Services, Registrar, University Librarian and Budget Officer shall constitute the University Budget Committee for the discussion of the budget proposals. The Budget Committee shall be presided over by the Vice Chancellor or his nominee.
v. The Budget Committee shall agree on the Budget Proposal after necessary defense consideration and adjustments. This Proposal shall at this stage be passed for ratification by the University Council via the F&GPC.
vi. The Council Approved University Budget Proposal shall then be forwarded to the Ministry of Economic planning and Budget and Finance of Lagos State Government.
vii. On receipt of the Government approved budget allocation to the University, the Bursar, on the directive of the Vice Chancellor, shall again call a meeting of the University Budget Committee to discuss the appropriation and sharing of the approved Government allocation among the competing votes.
viii. A working budget shall be compiled by the Bursar or his delegate for ratification of the Vice Chancellor and the Governing Council.
ix. The Working or operating budget shall be subjected to revision if the need arises during the year and such revision shall be approved by the Vice Chancellor.

i. All approved requests are sent to the head of the unit for checking and commitment.
ii. The requisitions are checked for proper approval, authorization limit, and arithmetical accuracy.
iii. Check the request for budget provision and balance
iv. Commit if fund is available
v. Where there is no adequate balance or budget provision, request is returned to the originating unit (requesting officer) for virement if the expenditure must be incurred.
vi. It is only the Vice Chancellor that can approve virement.

NOTE: Virement is only possible within the vote heads of recurrent expenditure, on no account shall recurrent expenditure be vired to Capital and vice-versa.

i. The approved working Budget shall be entered into the vote on the system for expenditure control purpose and shall be balanced daily. These vote books on the system shall form the basis of monthly operating report for management information. A sample vote book is as shown on the Appendices B(i,ii,iii)
ii. Periodically, there shall be budget revision which shall enable each department to re-allocate funds from one vote head to another in order to rationalize the efficient use of funds in each Department.
iii. All liabilities and Commitment shall be entered in the vote books as soon as they are known or incurred (e.g LPO, Purchase Advance, training Approvals, vouchers etc). Necessary adjustment shall be made when actual costs are known. Other personal advances e.g Salary, motor vehicle advances, shall not be entered into vote books.
iv. At the end of each month, the Budget Officer shall prepare a Departmental Budgetary Control Report showing monthly cumulative expenditure and variation.
v. The Bursar shall ensure that if any adverse variance has resulted, immediate remedial action is taken.
vi. The quarterly operating statement i.e the budgetary report shall be prepared and sent to individual Heads of Department while the grand summary of operating statement shall be forwarded with variance report to the Vice Chancellor for discussion at the monthly Management meeting.
vii. The Bursar shall ensure that the operating statement are ready on or before 15th of the month following the quarter which the report is being prepared.
viii. No officer can incur any expenditure without proper authority or following the proper budgetary control procedure as expenditure will not be committed.

i. Only authorized officer (Unit head) approves expenditure commitment.
ii. Budget operators must be aware of any expenditure on their votes.
iii. Approved expenditure must fall within authorization limit.
iv. No expenditure is charged without the approval of the unit head.

i. University Annual Budget.
ii. Mail Register.
iii. Budget and commitment module in Admon software


This module takes care of all kinds of requisition, such as Imprest, cash advance, LPO, Supply & services, central store, Direct payment etc.

At the completion of this module, you should be able to do these:-
 Code all the types of requisition
 Recode all error-coded requisitions
 Print purchase requisition
 Generate LPO
 Approve requisitions
 Re-print purchase requisition
 Uploading Budget.
 Carry out Virement instructions where necessary.

New Requisition Coding

Open this form via Purchase & ordering  Requisition  New Requisition
 Start by Clicking the Add New Transactions
 Select the Department, Unit, Supplier (if it is not staff related requisition), Sundry (if it is staff related)
 Select the Staff requesting. By default the position comes up automatically.
 You have 2 option of the Budget to charge. Unit vote & Special vote unit. Select the right option.
 Select the type of requisition i.e. Imprest, reimbursement/Direct payment, Cash advance etc.
 Click Insert button.
 Enter the description of item requested, Quantity and rate. The estimate value comes up automatically.
 Click the button on the Account Id column to bring all the available account code.
 Select the Right code, that has been budgeted for else there will be message that there is no budget for the department.
 Continue until all items requested are entered.
 Click Save button to finish.
 Click submit to register the transaction. A Purchase requisition code appears which you must copy on the hard copy document.

Next is to approve the requisition.

The approval is done by superior officer to the officer that coded the requisition.

To approve do the following:-

 Select the Transaction type
 Click the New Transaction for Approval
 Select the Requisition Number on the printed requisition note
 All necessary information of the requisition will display
 The name of the Approving officer comes up by default.
 Click the button on the Approval column. A dialog box comes up.
 Select Yes or No, to approve or not approve.
 Click Submit Approved requisition button to save the transactions.
 A new Approval number is generated.
 The requisition can be re-printed and the new number will be attached to the note or can be hand written on the initial requisition note to continue the transaction
 Several approvals can be done but all follows the same procedure.
 Close the form when you are done.

Requisition Recoding could be done via Purchase & Ordering  Requisition  Purchase Requisition  Purchase Requisition recoding
Student Refund
This module is use to refund student School Fees payment. This can be found this way
To register student refund do the following:
 Select the Student Refund (Requisition-> New Requisition -> Student Refund)
 Enter the Teller number On The Receipt
 All necessary information of the requisition will display
 The name of the Registering officer comes up by default.
 Click Register button to save the transactions.
 A new Register number is generated. Copy The Ref. No which is in this form (RFD/2008/000)
 Close the form when you are done.

This is budget managing module. It is the module that controls what goes on in the purchase and ordering module discussed above. The budget is set up for both Unit Vote and Special Vote (Unit).

At the completion of this module, you should be able to set up the different budget type and generate the necessary reports.

Unit Overhead Budget Setup
In this section, the budget of each unit of the entire department of the institution is setup. The setup is done thus:-

 Open the form via Budgeting  Recurrent Expenditure  Overhead cost
 The form should be the one shown below.
 Select the Department, the Unit you want to setup.
 Select the Date and the Budget year comes up by default
 Click Insert button.
 Click the Expenditure details. A dialog box containing all the account code to setup
 Look for the Right Code/Description by scrolling up or down.
 Click on the appropriate code. The description as well as the account code come up and fill their appropriate column on the grid.
 Divide the whole budget figure into four (4) parts.
 Enter the result into the column with the First quarter, Second, Third and Fourth.
 The total for each account code comes up automatically.
 Do this for all the account code assigned to each unit
 The grand total is the figure in the green back-colour text box.

7.1 Introduction
Purchasing functions is a segment of Bursary functions, but now a unit in the Vice Chancellor’s office, saddled with the responsibility of buying goods on behalf of the University. The unit is responsible for formulating the appropriate purchasing/buying plans for the University by ensuring that goods are purchased at the right prices, right qualities and quantities, right specification and from right source. Right source in this content means goods must be purchased from reputable manufacturers, accredited suppliers.
In addition to the above, the followings are the responsibilities of the purchasing unit.
• Obtain prices of goods on regular basis.
• Developing procurement plans.
• Advise management on what percentage to use as mark-up
• Advance payment where necessary etc.

There is in place a purchase planning committee in compliance with the directive of Bureau of Public Procurement Acts of 2007. The Procurement unit is well represented in the Committee, with the Deputy Vice Chancellor (Administration) as the Chairman. The procurement unit carries out the approved decisions of the committee by the Vice Chancellor, regarding buying of goods and award of contract.
The committee meets regularly to consider and recommends for approval requests from user departments for procurement of goods and services.

There are three types of purchasing procedures in LASU, we have: –
a. Direct purchase for immediate users.
b. Purchases for Stock purposes.
c. Purchases via Cash Advances.

This has to do with the direct purchase of goods for a particular user Department. The procedure is as follows:-
(i) A request is forwarded to the Bursar from a department or unit or the Vice-Chancellor as the case may be. This may be the purchase of stationary items, furniture and consumables.
(ii) This request will then be passed to the Procurement Unit for necessary cost implications having considered at least 3 quotations from 3 different reputable suppliers. For regular purchases, bench mark prices are set that we cannot go below.
(iii) After the costing, all the requests for purchases received by the Purchasing unit are sent to Procurement Technical and Evaluation Committee (PTEC), who will invite the users to a meeting to come and defend their requests. The Committee will then decide on the requests to consider for purchases and make recommendation to the Vice Chancellor for approval.
(iv) All payments for purchasing are made after delivery. Unless there is urgency, in the procurement when percentage advance payments are given especially where there are needs for purchase to be made in readiness for accreditations.
(v) This will then be forwarded to the BBC Unit for commitment into the appropriate vote heads having satisfied that there is Budget provision.
(vi) Thereafter, a Local Purchase Order (LPO) will be issued to the supplier that satisfies the requirement of the University. The LPO is distributed as follows:
1. Original to the Supplier
2. Second copy to the Store
3. File Copy
(vii) The goods are expected to be supplied within a maximum period of 3 months, to the user’s department in the presence of the following Officers:-
1. The Store Officers.
2. The Purchasing Officers.
3. The Internal Auditor.
4. The Users.
(viii) Where the goods supplied are Asset, the items will be coded with identification number by an officer in the Financial Reporting and Fixed Asset Management (FRFAM) unit, and coding certificate will be issued immediately.
(ix) The delivery note will be authenticated by the Internal Auditor Unit and signed by the Store Officers, and user’s department.
(x) The original LPO, delivery note, coding certificate and invoice will be handed over to the Store Officer who will prepare the Payment Authorization and attach all these documents for payment purpose. No payment will be made if coding certificate is not attached to the payment authorization documents.
(xi) These, will then be forwarded to Purchasing Unit for the attachment of the original approval and then seek approval for payment through the Bursar.
(xii) After the approval by the Bursar or Vice-Chancellor depending on the amount involved, the paper will be passed to the Ledger Unit for the preparation of Payment Voucher (PV).
(xiii) The duly prepared PV will then be sent to the Internal Audit for prepayment auditing.
(xiv) The audited PV will then be sent to payment unit (BSD) for payment.

Only balance of payments will be given if advance payment was made when local purchasing order is issued. This is however, in rare cases.

These are purchases meant for the entire University purpose. Purchases of this nature are not meant for a particular department rather it is for the entire University Community. The followings are the procedure for the purchases of this nature:-
i. The University maintains a Central Store for the following items: – Office Stationeries, Office Furniture & Equipment, Building Materials, Cleaning Materials, Drugs and electrical materials etc.
ii. Request for Stock Replenishment is always emanated from the Chief Store Officer (CSO) who heads the Central Store to the Bursar when the Stock has reached the re-order level.
iii. All other procedure as in a (ii) – a (vi) above will then be followed.
The goods when supplied at this time will be witnessed by the Following Officers:-
• The Store Officer.
• The Internal Auditor and
• The Purchasing Officer.
iv. The Store Officer will then issue a Goods Receive Note (GRN) for the items and updates the Stock Bin Card otherwise called Stores Ledger Card.
v. Payment Authorization will then be prepared where the original LPO, Delivery note, Invoice, and copy of the GRN will be attached and sent to the Purchasing Unit.
vi. The Purchasing Unit will then attached the Original approval and sent to Bursar for approval or recommended to the Vice – Chancellor for approval.
vii. There after Steps a (xi – xii) will be followed.

7.4 Stock Issuance
Since these purchases are for the entire university community, hence the issuance will take the Following Procedures:

– A requisition form will be completed by the user department via SRN (Store Requisition Note). This must be duly approved by the Head of Department/ Unit.
– A duly completed SRN will then be taken to Central Stores for Costing.
– A costed SRN will be forwarded to the Budget Section (Management Unit) for the determination of adequate Budgetary Provisions and reduction of the appropriate vote head by the value of the items.
– A duly committed SRN will then be taken to the central stores for the collection of the items.
– The Store Officer will then issue a Store Issues Voucher (SIV) which must be duly approved by the Chief Store Officer and signed by the officer collecting the items.
– Also the Stores Bin Card (i.e. Stores Ledger Card) will be updated by reducing the stock with the quantity of the items collected.

i. Situations do arise where a particular item is out of Stock and the items are urgently needed in a Faculty/Department, hence purchases of this nature will be on Cash & Carry basis via cash advance. This is a situation where a paper will be processed and cash made available for urgent purchase of the items by the purchasing Unit.
ii. When such goods are purchased, the Internal Auditor and the user department will satisfy the items and the relevant receipt/invoice collected from the seller after it has been duly authenticated by the Internal Auditor will be used to retire the advances collected.
iii. Note that if the purchases involve an asset, before retirement, a coding certificate must be attached as part of the supporting documents.

d. Where the purchase is of special nature which is very rare, the Stores will be involved for identification mark.
The LPO has been set up on the computer system.

i. One a purchasing request has been considered and approved by the Technical and Evaluation Committee, it is the forwarded to the Bursar for commitment against appropriate vote head which is carried out by the Budget and Commitment Control Unit.
ii. Upon commitment, the procurement unit will go ahead to prepare LPO using Admon Accounting Module deployed to the unit and obtain appropriate signature
iii. Then the procedures in 7.2a (iii – xiv) will be followed

Procurement activities is interwoven and interlocking with other section of Bursary Department in Lagos State University, for instance in the process of purchasing goods, the following units/section has a role to play:
Procurement Unit Sourcing & Costing of Goods.
Budget & Budgetary Control Unit Charging/Committing in the appropriate vote head.
Central Stores Unit Maintaining store record, coding, and issuance of Payment Authorizations.
Account Payable & Project Monitoring Unit Preparation of payment voucher.
Internal Auditor Department Sighting of goods supplied & Auditing of Payment Vouchers.
Banking Services & Disbursement Unit Payment & Posting of Cash Books.
Reconciliation Unit Carrying out Reconciliation of the Bank Statement with the University Cash Books.
Financial Reporting & Fixed Asset Management Unit Preparation of Journals via the SIV etc.

Other detailed procedures are as spelt out in the procurement law and manual adopted for use by the University.

The University operates a Central Stores System. This unit shall manage and control all movable properties purchased with the University funds, acquired from government and/or donations from well-meaning organizations or individuals to the University.

For now, the stores operations cover the following areas:
• Stationery store (located in the central store)
• Furniture and equipment store (located in the central store)
• Laboratory equipment and chemical store ( located in Faculty of Science)
• Health drugs and consumable store ( located in the Health Centre and manned by Bursary Staff
• Multi media centre stores (located in University Multimedia Centre)
• Plumbing and Electrical stores (located in Works and Physical Planning)
• ICTC Store controlled by ICTC

• Stores Management
• Stock Control

Stores include all moveable properties purchased with the University Funds or otherwise acquired from Government as well as donations to the University.

Stocks are held for transactionary, precautionary and speculative motives:
a. To receive general or specific goods on behalf of the University
b. To meet demand for stock item where the size of demand is known with certainty or replenishment of stocks is immediate when stock-out occurs.
c. To contribute to the effectiveness and efficiency of University services by reducing waste.
d. To ensure proper custody of materials for availability at the right time, right quality from right source and right price.
e. To ensure that store issue vouchers are issued to user Department irrespective of venue of delivery and nature of stock.
f. To ensure that the yellow copies of SIV are forwarded to the Bursar for reconciliation purpose (Appendix I)
8.5 Stores Management Unit
a. This unit plans, organizes, coordinates and direct the activities of all the stores in Ojo and Epe.
b. The unit also creates cordial relationship with other Departments in identifying needs and clear definition of specification of requirement to avoid rejects that usually occur during delivery of ordered items.
c. Management is regularly advised on the current changes in Government Policies as it affects Management of goods and services.
d. Establishes and operates suppliers’ evaluation reporting system based on quality and performance so that maximum benefits could be enjoyed from established sources and communicate with the Purchasing Unit as appropriate.
e. Provide quarterly stores report to the Bursar
f. The stores under the supervision of the Central Store are:

a. Stationery Store: The store officer in-charge receives, issues and account for all stationery items in LASU.
b. Building Materials Store: This is a maintenance store where all building materials are kept and issued on demand.
c. Plumbing and Electrical Store: Also for maintenance,
d. Medical Store: This store is located in the Health Centre for safe-keeping of drugs and requirement in the Health Centre.
e. Science Store: The store takes care of the Sciences Chemicals and equipment for students’ practical and research.
f. ICTC Store- located and managed by ICTC Staff.

The Stores in each of these centres are headed by a Chief Storekeeper posted from the Central Store. The Storekeeper takes care of all stocks and stores in their respective Campuses

A copy of the LPO shall be sent to the Stores immediately such is issued.

Receipt of Goods
I. The storekeeper shall ensure that goods are in good condition and must meet with specifications and requirements in the Local Purchase Order and verified by the Internal Auditor before receiving such goods into the store.
II. Where goods are of technical or special nature, the Department which requires the goods and the Internal Auditor must inspect the goods and complete a certificate of worthiness before they are received into the store.
III. Where Library books or clinic drugs are involved, they are to be delivered to the Library or the clinic directly, the Internal Auditor shall be invited to witness the receipt of the books or drug.
IV. The Storekeeper shall issue Goods Received Note for all goods received into the Store (Appendix K).
V. The Storekeeper shall ensure that all goods received are entered into the bin cards and properly attached.

I. The Storekeeper shall only issue goods against a properly authorized Store Requisition Note. The Store Requisition Note (SRN) (See Appendix H) shall be in triplicate to be used as follows:
a. Original copy to be attached to the Store Issue voucher (see Appendix I)
b. Duplicate copy to be kept in the stores file
c. Triplicate copy to be left in the booklet of user Department.
II. For every issue from the store, the Storekeeper shall prepare a Store Issue Voucher whose value shall be charged to the vote book under “actual” while the commitment column of that vote head which was earlier charged shall be reduced by the same amount.
III. The Storekeeper shall maintain reasonable stock levels known to Management. In doing so, he shall be guided by the rate of consumption of the material and the time required to process new orders and obtain delivery. He shall not exceed the maximum level of stock or fall below minimum stock level.
IV. The issuing policy is based on the Principle of First In First Out (FIFO)
V. The Storekeeper shall ensure that goods are held in a suitable place and in good physical condition.

a. Arrangement of the Stores must allow for free movement of staff and goods.
b. All stores should be properly binned or stacked as the case may be, with appropriate marking to facilitate easy reference and should be properly located.
i. Free from getting exposed to rodents, rain etc.
ii. Safe from damages caused by bad housekeeping and improper exploitation of equipment and of pilferage.
iii. Safe from damages like fire e.t.c (inflammable items and chemicals should be kept separately from other stores.)
c. All Bin Cards should be entered and balanced as at when issues or receipts of items are made, and as the balance reach their re-order level, such should be brought to the notice of the Head of Stores. (See Appendix L)
d. Fixing of minimum, maximum and re-order levels of stock items by Head of Stores after considering the estimated consumption of stores.
e. Bin cards shall be placed in the bins to facilitate ease of references, verification and the posting of receipts and issues. However, any bin card relevant to items located in the yard and similar places may be centralized.
f. Adequate fire-fighting appliances maintained in serviceable condition must be kept in easily accessible locations in the Stores.
g. The department ordering the goods must be notified of the arrival of the goods at the stores and or location representative from the ordering department should identify the goods. If identification of the goods require technical knowledge, it is the responsibility of the store keeper to retain and keep proper record of the goods until such identification and certification by the Internal Auditor.
h. Any damaged or deteriorated items must be brought to the notice of the Head of Department concerned immediately.
i. It is the duty of the Store-keeper to ensure the security of stores by attending to locks of doors, windows e.t.c. Also, security- guards as may be necessary to cover the entire stores must be provided to keep watch after closing hours. The surrounding must be adequately illuminated.

All goods shall l be received and documented in the Central Stores. In the case of catering goods, they will be directly taken into the catering stores. In the case of teaching equipment, chemical and drugs they will be delivered to relevant stores in the presence of central store-keeper. The goods received voucher and stores requisition/store issue voucher will be raised simultaneously.

Goods will be received at source by the Store-keeper in the presence of representative from the Department (who is familiar with the description and quality of the goods so ordered) and Internal Audit. He will verify that:

a) They are of the correct strength
b) They are of the correct quality
c) They are accurate in the case of instruments;
d) They are the correct model

If the goods are in accordance with that ordered, and duly certified/confirmed by representatives of the user’s Department and Internal Audit, Goods Received Voucher (GRV) will then be prepared by the store-keeper.

Copies of the GRV shall be sent to the following departments with LPO and Invoice:
1. Payment Section of the Bursary
2. Stores Ledger Section of the Bursary.
3. Requisitioning Department
4. Central Stores

Goods may be transferred from the central stores to the sub-stores of Departments by the use of requisition/Stores Issue Vouchers. However, the location of such sub-stores must be made known to the Bursary so that the Bursary in consultation with the Head of Department could consider the worthiness of such stores.

a. If the store-keeper is satisfied as regards above, he will prepare a GRV quadruplicate and dispatch as follows:
(i) 1st copy to the supplier
(ii) 2nd copy to Stores Ledger Section of the Bursary
(iii) 3rd copy to requisitioning Department
(iv) 4th copy (book copy) to be retained in the Stores.
b. The GRV so prepared must be accompanied with the Original invoice and waybill or delivery note from supplier, original LPO and the coding sheet.
The GRV must contain the following information:

i. Supplier’s name
ii. Date of receipt
iii. Order No. or Ref. No.
iv. Advice of Dispatch/Invoice/Delivery Note and date
v. Item Number
vi. Description of goods received
vii. Unit and quantity of the receipt.

NOTE: The above documents shall be forwarded to the Bursar for payment.

c. Record received stock on bin card
d. GRV are in the custody of the store

Any special Purchase through cash advance must be accompanied with a coding sheet from FRFAM unit before it is cleared by the internal audit

a) All Store Requisition/Stores Issue Voucher must be authorized by the Head of the respective department or in his absence, the officer authorized to do so during the period of such absence.
b) In order to ensure that requisitions received at the Central Stores have been properly authorized the Head of Department should inform the Bursary, with a copy to the Store-keeper, the name, designation, specimen, signature and period the signature is valid for the officer so appointed to act during his absence. It is also necessary for the Head of Department to have his own name and specimen signature sent to the Bursary with a copy to the Head of the Stores.
c) Any alteration or additions to requisitions must be duly authorized.

I. The requisitioning Department will prepare a Store
Requisition/Stores Issue Voucher in quadruplicate giving the following information:
• Date
• Department
• Description of items
• Purpose (where applicable)
• Quantity required
• Appropriate Code
• Signature of the officer requisitioning
II. The requisition so prepared will then be approved by the Head of the Department and once costed by the stores accounting unit of the Bursary and recorded in the Departmental Vote Book, it will be passed to BBC unit of the Bursary for approval.
III. The duly filled and authorized requisition is then sent to the Stores.

In the case of items issued with returnable containers or issued as replacement or damaged or used items, fresh issues will be made if and only if the used or empty items of the previous consignment of issues are returned unless:
i. They are being requisitioned for the first time or for a fresh purpose.
ii. due to the nature of the job on which such items drawn earlier have been used;
iii. For specific jobs or purposes

Stocks could be returned to the stores by the user Department or by the Store to the suppliers as the case may be by using the appropriate form “Stores Debit Note” or Stores Return Note” or Purchase Return Note”.

This unit shall operate under the general supervision of the Head of Stores. The Units’ objective is to serve as check on stores. Safeguard stock and prevent unauthorized removal and pilferage. Only the store-keeper shall have access to the store.

Stock taking is carried out to show position of physical and bin card balances and to reconcile the stock in order to prevent obsolescence. Users departments are notified of the things in stores, with a copy of stock-taking.

The Bursar shall arrange for a physical stock-taking at least twice every year. The Internal Auditor shall be present when stock-taking is carried out while the External Auditor shall be invited to witness the final annual stock-taking exercise.
The store will be closed while the stock-taking has been conducted and no issue will be entertained. At the end of every stock-taking, the stores officer and the Internal Auditor shall sign the stock sheets.

This unit is responsible for:
(a) Checking of incoming materials to ensure that the quality and quantity agree with those specified on the purchase order.
(b) Reduce the amount of waste caused by theft, breakage and deterioration.
(c) Avoid waste of space through proper arrangement of materials in the store.
(d) Prevent overstocking through the principle of minimum and maximum stock level.
(e) Ensure proper accountability through quarterly stock – taking, valuation and reporting.

All assets in whatever form bought with the University Funds directly or indirectly are the properties of the University hence it shall be so treated. Stores has a responsibility to ensure that all such properties are labeled/numbered serially. This should be done at the point of delivery.

The Bursar shall engage the services of Technician in the area of sign writing to handle this assignment. This function shall not interfere with the creation of stock card prepared and monitored by Audit Directorate of the University.

GRN – Goods Received Note
SIV – Stores Issue Voucher
SRN – Stores Requisition Notes
LPO REG – Local Purchase Order Register

8.21 Electronic Inventory System
This is shown below but the usage is yet to commence in view of the networking to the stores location


The inventory module manages all the stock recording, receipt and issues. It starts from the goods ordering stage to issue for usage.

The inventory is divided into various forms; we have the inventory file set-up, which handles all the different set up under the inventory module first is the Product category set-up which is as displayed below:

Followed by the inventory adjustment type as displayed below;

Also the warehouse maintenance manages the different warehouse that we have and that we might likely have, the same thing is also applicable in the registration and maintenance of clearing agents’ profiles.

Product Registration
The product registration form takes care of the registration of the different types of product in the store.
It takes into account such information as the product opening balance, the cost and the issue of the product as applicable the re-order level and re-order quantity of each product e.t.c

Displayed below is an example of the product registration form.

At the click of the add button the system automatically generate a product id number which will be distinct to the particular item of stock, you will then select the category the product belong to from the product category lists, Type in the product name, the quantity opening balance, the cost price and the issue price we are attaching to a unit of the product the system work out the total amount for us, key in the other details and save, this automatically make the product available for issuance on the system.

Product Opening Balance
The product opening balance holds the quantity and value of a particular product we are starting business with at any particular location.

Goods Ordering
The Goods ordering form captures the requisition of goods that are either out of stocks or goods that has low stock level, from the supplier.

The Goods ordering form captures the requisition of goods that are either out of stocks or goods that has low stock level, from the supplier. When you click the goods ordering form, click add select the supplier’s name you are ordering the goods from, from the lists of the suppliers available, the order date, the system will generate the order number select the order type either local or foreign order, enter the delivery address and the delivery date.

Press the insert button to enter the details of the item of stock you are placing an order for that is, the goods description, quantity, unit cost and the total value of the order then you save to register the order.

Goods Received
The goods received form captures stocks received as a result of the order placed earlier during the ordering process.

Enter the LPO number, supplier name, enter delivery date, vehicle registration, vessel name, select the clearing agent where applicable and the officer that received the goods.

Directly under this detail are the description, quantity, unit cost and the total value of the goods ordered for.

Click on the “Save” to register the quantity of the goods accepted or received, the number rejected and at what unit price we are buying the accepted goods.

Goods Transfer Processing
The goods transfer processing form takes care of the distribution of the received stock into various departments as the case may be.

At the opening of the goods allocation form, select the product name for the goods you wish to allocate, the transferor and receiver, the quantity and at what cost they were received into the central warehouse, also the reason for the transfer.

Click the “Submit Transaction” button to allocate the product in quantity and in price into warehouses and outlet.

Goods Transfer
In a situation where there is transfer of goods between two or more warehouses the goods transfer form captures all these transactions , including ascertaining the product balances at each warehouse and (or) sales outlet.

Select the waybill number and the product you desire to transfer, enter the source outlet the unit cost and the quantity to transfer, also you select the receiving outlet and the officer receiving the product.

Click save to permanent save the transfer.

This automatically updates the stock balance at the affected outlets.

Warehouse Release process
This form captures the issuing of products to users.

The warehouse release form is as shown below:


There shall be a ledger unit where all the subsidiary ledgers shall be maintained. This unit shall give detailed analysis on the make-up of the subsidiary ledgers which serves as the back-up for the main account. The unit shall be headed by a professional Accountant who shall be responsible to the Deputy Bursar (Operations).

The followings are the major functions of the unit:
• Maintenance of Creditors Ledger
• Maintenance of Purchases Daybook
• Preparation/coding of payment vouchers
• Preparation of schedules

Accounts Payables allows you to:
• Keep detailed information about the Suppliers.
• Update supplier’s information and records.
• Perform Invoice Registration.
• Perform Invoice coding
• Invoice Manual approval
• Invoice System approval
• Payment on due date
• Payment when compulsory (forced payment)
• Enter information about the Suppliers contacts to be able to keep track of their balances. The screen shown below gives details of the various sub-modules present in this module
Supplier’s Information
This module is used to capture detailed information for new Supplier. A sample screen for this operation is shown below:

This module handles everything pertaining to payments and creditors management. This module will rely on Purchases module (an Integral module) for its successful operations.

Entering supplier’s data is a very easy task to perform in AdmonBursary. The following steps needed to be followed to perform this operation.
• Step 1: click the Add button
• Step 2: Enter the Supplier ID (This is a number tag used to uniquely identify a Supplier, it can be a combination of numeric numbers and letter)
• Step 3: Enter the Supplier’s name
• Step 4: Enter the other Supplier’s information (i.e. Supplier’s address, e-mail address, telephone etc)
• Step 5: Enter the Supplier’s contact person
• Step 6: Enter the suppliers’ bank details (Bank Name and Account number)
• Step 7: click the save button to permanently save the records
• Step 8: click the Add button the enter a New Supplier record

Having received the committed request from BBC Unit the following steps will be taken:-
(a) Check the approval
(b) Check the amount committed
(c) Confirm the vote of charge/code

Then process as analyzed in the flow charts as follows
(a) Click on the short cut to Admon Bursary system on your computer Desktop.
(b) Log-in your password to enable you access the module.
(c) Click-on the Account payable followed by Registration and coding of new payment voucher.
(d) Input the reference number from the BBC unit
(e) Complete all the information on display and deduct relevant tax (if any) and the code.
(f) Submit the transaction for approval.
(g) Indicate the ‘CD’ transaction number generated for the transaction on the request paper for reference purpose.
i. From the Account Payable click on the Approval
ii. Trace the relevant CD reference number of the request generated while coding the PV.
iii. Preview, print and approve if found okay. Where there are error(s) take the following sub-steps.
iv. Go-back to the invoice sub-module and click Payment vouchers with the CD reference Voucher number.
(a) Trace the relevant CD number to display the transaction for corrections.
(b) Make the necessary corrections and submit for approval.
v. Preview, print and approve by clicking yes on the approval Sub-module.
vi. The approved payments vouchers(s) shall be checked signed and pass to Internal Audit Unit. See appendix D.
vii. The same procedure apply to Petty Cash Payment (see Appendix E)
9.6 invoice processing
The main objective here is to ensure that invoices are honoured as at when due.
Invoice processing is designed to involve the following steps;
• Invoice Registration
• Invoice Coding
• Invoice Approval
Invoice Registration
The task here is to load the basic information on the invoices to the system.

Invoices processing and payment are date driven. The payment date for each invoice is as stated in the default payment date for the company.
Invoice Coding

Coding is the real issue on the management of Invoices. The basic information loaded at registration point is automatically loaded making way for cost centres distribution.
A Coding slip is automatically generated. The coding slip is used in getting manual approval for the invoices. A coded invoice is successfully accrued to the General ledger, pending the system approval by the General Ledger (Administrator).
Invoice Approval

System Approval is done by the GL (Administrator). As shown above, he/she has the opportunity of viewing the invoice again to check the correctness and compare with the manual approval.

An approved system at this stage is automatically transferred to the BSD function, where payment is effected. AdmonBursary is driven by predefined reports (see Reports)

The followings are the steps involved in updating the Creditors Ledger.
Upon the approval of the Payment Vouchers, the expenditure head will be debited, the net amount net of deductions will credited to the Creditor’s account and various deduction accounts credited as well. When payment is effected, creditor’s account and deductions accounts in our ledger will be debited and cash book credited.
At the end of the year or month as required, the unit prepares the following reports mainly in form of schedules:-
– Loans Schedules
– Creditors Schedules
– Staff Miscellaneous Schedules

– Purchases Daybook
– Creditors Ledger
– Payment Vouchers
– Outward Register
For effective performance of all the functions performed in the unit, the following internal control measures are put in place:-
– All requests before processing must be endorsed with specific directive given by the head of unit.
– All processed requests must be checked by a superior officer.
– All authorization and approval are done by the head of unit.
– All journals raised are to be checked by a superior officer and approved by the head of unit.

The head of unit report directly to the Deputy Bursar (Operations)

This is a unit that is saddled with the responsibility of managing various staff cash advances and loans granted to staff of the University. The unit is to ensure that the cash advances are not being seen as a subtle loan by staff. The unit is to ensure that all cash advances are promptly retired and loan deductions are deducted from staff salary according to the loan agreement.

10.2 Maintenance of staff Debtors Ledger. This includes:
– Staff Miscellaneous Advance Ledger.
– Motorcycle/Car refurbishment Loan Ledger
– Furniture Loan Ledger
– Land Loan Ledger
– Laptop/Desk top Loan Ledger
– Research Advances Ledger
– Any other Loans.

As soon as the payment is effected and posted at the payment unit, the respective staff debtor account will automatically be debited without any recourse to the ledger unit.

The retirement procedure could be summarized as follows:
– Upon the receipt of a duly certified retirement paper from the Internal Audit;
– the schedule officer will process further on the system as follows :
– Check for the debtor’s reference number on the system.
– Click the account payable module.
– Click the debtors sub-module to see the entire advances awaiting retirement
– Search for the relevant debtor using the advances reference number i.e. ADV/2006/7/00125 e.t.c.
– Carry out the retirement by approving the approval section on the system.
– The respective staff account would automatically be credited and the name will disappear with the relevant retirement number given.
– This will be written on the retirement paper and filed up for reference purpose.

The Report can help determine the status of a particular invoice at anytime.
o Supplier List
o All outstanding invoices
o Invoices not approved
o Invoices approved not due
o Invoices due but not paid
o Paid Invoices
o Staff Debtors

AdmonBursary is built to support direct bank transfer. Remittance advice will be used to transfer the suppliers’ money to their respective banks.

The system will automatically generate Remittance advice on daily basis of invoices due for payment due as at that date. A copy of this will be sent to individual supplier advising them of the transfer.

The following sub-modules are explained here

• Invoice registration & Coding
• Invoice Approval
• Payment Processing
• Returns on Advance (Retirement)
• Advance Retirement
• Reports

Loan Setup: The loan setup form is used to setup the maximum amount that any individual can take at any point in time, the interest that will be paid on the loan if any, and the maximum repayment period.

Loan Set Up Process.
1. Type in the maximum limit in the Maximum Amount Field.
2. Enter into the form the maximum repayment period and the Interest payable (if any)


Loan Application: The form is used to record the application of an employee who wishes to obtain loan.

How to Process Loan application.
1. Select the staff name.
2. Click on Apply.
3. Fill in the application date, Loan type, Loan amount, Loan Purpose, Loan type and Loan start date and end date.
4. Click on submit.

To Edit.
1. Click on Select the staff name.
2. Click on edit.
3. Select the new entries.
4. Click on submit.

Loan Approval: After an employee has applied, the loan approval form is where the loan will be approved.

How to Approve Loan.

1. Click on the loan approval form.
2. Click on Approved or Not Approved.
3. Click on Ok.


Loan Details View: This form is where the user can view the details of each staff loan and also the repayment period of the loan can be adjusted from this form.


Loan Report: The loan report enables the user to view all the loan details.

Accessibility: This menu is meant to allow the user log off the system and allow for another user to login or totally exit the system.

Deduction Policy: The deduction policy is used to regulate the maximum rates or values that can be deducted from any staff salary in order not to exceed the preset values e.g the maximum amount deductible from the monthly gross of any staff should not be more than 60% (deduction percent) from his salary.

This enables the staff to have a take home pay and not make him have a negative pay at any point in time which can be due to the large volume of deductions from his monthly salary.

To get to the deduction policy
1. Click the payroll setup menu and then he will click on deduction policy.
2. Type in the Id.
3. Type in the Deduction Percent that will be used.
4. Type in the Personal allowance Rate – (20%)
5. Type in the Personal Allowance Constant Value.-(5,000)
6. Click on Save.

To Delete any Policy Rate.
1. Once the form is opened, highlight the field to be deleted.
2. Click on Delete and type in the new Rate to be applied.


Other Deduction Processing: This Form is used to process salary surcharge.
How to Process Surcharge.

1. Select the staff name.
2. Type in the number of days to be deducted.
3. Select the Status i.e. either PAY or DEDUCT.
4. Select the period that the surcharge will be deducted.
5. Click on Save.


At the end of the year or month as required, the unit prepares the following reports mainly in form of schedules:-
– Loans Schedules
– Creditors Schedules
– Staff Miscellaneous Schedules
– Cash Advance Register
– Prepayment “
– Staff Miscellaneous Advance Ledger
– Loans Ledger
– Payment Vouchers
– Outward Register
– Salary Deduction Schedules
For effective performance of all the functions performed in the unit, the following internal control measures are put in place:-
– All requests before processing must be endorsed with specific directive given by the head of unit.
– All processed requests must be checked by a superior officer.
– All authorization and approval are done by the head of unit.
– All journals raised are to be checked by a superior officer and approved by the head of unit.
The head of unit report directly to the Deputy Bursar (Treasury Services)

Preparation of monthly bank reconciliation statement is a pre-requisite for the preparation of monthly financial statement. Reconciliation whether manually or through the system involves similar approach.

The essence of preparation of reconciliation statement is to ensure that:
a) All deposits made to the banks are posted into the Revenue cashbooks and credited into the bank statements;
b) All payments made through the banks are posted into the payment cashbooks and debited in the statements; and
c) All banks charges and credit interest not previously reflected in the cashbooks are recognized and brought into the books.

a) Reconciliation of all University bank accounts maintained at Ojo Campus.
b) Preparation of weekly cash position for management use.
c) Liaising with all our banks: i) for collection of hard and soft copies of bank statements; ii) on enquiries.

Reconciliation whether manual or through the system take similar approach. The steps involved are as stated below:-
i) Tick all payments in the Payment cashbook against all debit entries in the bank statement
ii) Tick all receipts in the Revenue cashbook against all credit entries in the bank statement.
iii) Ignore contra entries by putting the sign Contra (¢)
iv) Extract and prepare a schedule of all credit entries in the bank statement not in the cashbook.
v) Prepare a schedule of unpresented cheques
vi) Extract and prepare a schedule of uncredited lodgment- that is, deposits/income recorded in the revenue cashbook but not in bank statement.
vii) Extract and prepare a schedule of debit entries in the bank statement not in the cashbook with the exception of bank charges.
viii) Raise a journal to incorporate bank charges into the Reconciliation statement.
ix) Prepare a Bank Reconciliation Statement using the attached format (attachment M)

i) All unresolved issues are taken up with the banks officially.
ii) Findings with supporting documents are forwarded to the banks accompanied with letters duly signed by the Bursar.
iii) Responses are expected within thirty (30) days.
iv) Where responses are positive, adjustments are made to the Reconciliation Statements prepared through journals
v) Where responses are unresolved, no adjustment is made to the Reconciliation Statement.

1. Obtain bank statement and or bank balances of the preceding week from the banks;
2. Obtain cheque/cash Disbursement Schedule of previous week from payment unit.
3. Obtain Revenue of preceding week from Revenue Unit.
4. Prepare Cash Position using the above information:

1) Payment cashbooks prepared by Payment Unit
2) Revenue Cashbooks
3) Bank statement obtained from the banks on weekly/monthly basis
4) Mail register

i. Segregation of duties – No one person starts and completes a transaction. Job of subordinates is reviewed by a superior officer (Unit Head).
ii. No staff member of the unit shall be involved in the processing of source document, that is payment or Revenue cashbooks
iii. Only designated staff shall collect bank statements from the banks.

i. Weekly Cash Position
ii. Binded Bank Reconciliation Statements with schedules
iii. Reconciliation report highlighting findings and recommendations

Bank Reconciliation Guide
There is a provision for electronic system on the Admon system. It will be introduced as time goes on. This is however the outline. The University is yet to purchase this module.

This module handles the reconciliation of the General ledger cashbook balance and the bank balance at a specified period.

Select the bank you wish to reconcile its account, specify the period range you want the system to do the reconciliation, the system automatically display the cashbook balance as at the date, click on display detail to list the make-up of the balance for the specified period, cross-check with the bank statement any transaction that can be reconciled from the bank statement should be mark yes the one that cannot be reconcile should be left with “no” tag, this are the ones that are going to form the basis of the bank reconciliation.

Click on “reconcile this account” to do the posting, or reconciliation for unreconciled transactions.

For effective Cash Management and Control.

The screen shown below gives details of the various sub-modules present in this module

The following sub-modules are explained here
• Bank Setup
• Bank Other deposits
• Bank Payables Withdrawal
• Bank withdrawal
• Bank Lodgment
• Bank Transfer
• Bank Reconciliation

Bank Deposit – Students’ e-payment

The details of all receipts default to this form and are differentiated by the type of transaction.

3Click either Cash or cheque button to select from the list of cash and credit receipt transactions that is to be deposited.

Select the bank name and account where the receipt is to be deposited

Click process Deposit to automate the system to process the selected deposit transaction.

Deposit of cash sales transaction will be debited to the selected bank account immediately whereas cheque deposit transaction will be delay to adhere to CBN clearing policy of 24 hours (T+1) for cheques

Other Bank Deposit
This form below captures any other income/receipt that accrue to the organization aside those related to the product. It also takes into consideration the cheque clearing policy.

o On opening this form, click New to Select the transaction type which can either be cash or cheque.
o Select the General ledger account to credit.
o Select the bank name, branch and account number to debit.

For cash type transaction, the bank is automatically updated, also the affected General Ledger accounts to.

From the other deposit form click on the clearing tab, this displays the clearing form. This form takes care of the cheques that have attained their value date and the one that are yet to attain their value date i.e. the unclear effect.

At the Click of the ‘cleared button’ it displayed all the deposited cheques that their value date are of the current date, the officer in charge only need to select the particular reference number he wish to effect its payment, and click on effect deposit this automatically increases the bank balance of the corresponding bank account.

But in a situation whereby the bank is giving a direct credit on a deposited cheque before its clearing due date, you only need to click on the ‘Unclear’ button this displayed all the cheques that are yet to attain their value date, after which he select the reference number of the cheque he wished to effect its payment and click ‘effect deposit’, this immediately gives value to the cheque.

Bank Withdrawal
This Module capture all the Bank Withdrawals made as a result of invoice registration, invoice coding, invoice approval and invoice payment made at the account payables form.

On opening the bank withdrawal form, clicked on the ‘display all withdrawal’ button all approved payment from the account payables default to this form.

Select a reference number of the payment voucher you wish to pay from the withdrawal details.
Select the bank, branch, and account number of the bank you desire to make the withdrawal from.
Pick the withdrawal date the cheque number and click on the “process withdrawal button” to effect withdrawal.

Bank Transfer
This module takes care of the movement of funds between a bank account and the other, the bank transfer is divided into two forms, Bank-transfer application and the Bank transfer approval form.

The prospective user on opening the form select the bank he / she wants to transfer the money from, this displays the basic details of the bank, the branch in which the money is going to be transfer will be picked, the transfer amount, the transfer date as well as the cheque number.

He’ll also pick the receiving bank and the branch he/she wants to transfer the money to.

The form displayed below is a typical example of what the transfer approval form looks like, at the opening of the form it shows the lists of all the bank transfer applied for, you will need to highlight the transaction and either approve the transfer or reject the transfer.


There shall be a FRFAM unit which shall be saddled with the responsibility of the preparation of the University’s management accounts and unaudited financial statements. The unit serves as the centre- point for all bursary activities. The unit shall be headed by a Professional Accountant who shall be responsible to the Deputy Bursar (t).

The following are the major functions of the unit:
1. Maintenance of general ledger.
2. Maintenance of Fixed Asset Register
3. Preparation and posting of journals.
4. Preparation of final accounts. This includes :
a. Trial balance
b. Income and Expenditure Account
c. Statement of financial position.
5. Updating of Accounting codes

The following journals are prepared:

a. Journal for correction of errors
b. Monetizing fixed assets donated to the University.
c. Clearing payment register.
d. Journal for depreciation
e. Journal for bank charges, interest on current account balances and interest on fixed deposits

The accounts are prepared on-line-real time, hence the trial balance can be generated daily, weekly, monthly, or on yearly basis as required as soon as all the postings are completed.

See flow Chart.

1. The stores issue voucher.
2. The petty cashbook.
3. The general ledger.
4. The general journal.
5. Fixed asset register

1. All journals raised must be approved by the head of unit and counter signed by the Deputy Bursar operations.
2. No staff of the unit must be involved in generating any of the source document except journals.
3. Under no circumstance should any single person initiate and complete a transaction.

The head of unit report directly to the Deputy Bursar (Operations).

AdmonBursary is a complete parameter driven system, it is therefore important to define the necessary parameters that will be used to drive the entire system. These parameters are defined and maintained using this module.

Parameters are used to define, classify and group data so as to maintain consistency in data access. How you define these parameters is entirely up to you since you know the best way to run your organization. The parameters to be defined here drive the entire modules of AdmonBursary.

In AdmonBursary, Parameters and codes are grouped according to the module they drive. This module is sub-divided to sub-modules.

AdmonBursary is 100% modular:

The following Set ups would have to be in place when starting AdmonBursary:
Account class setup
This maintains the classes of accounts; their codes and type (either Balance sheet or P&L). This will make top level only reporting possible or executive summary.

Control account setup
This module sets up control account for each account class and type.

A particular class of account is broken down to details under the control account.
Chart of Account and CHART DETAILS

Chart Details

Chart system is made up of 4 layers which enhance business reporting system.

The General Ledger is the heart of the AdmonBursary package; this module is central to the operation of the entire package because it collects data and facilitates effective data posting amongst all the modules.

This set of accounts is called the chart of accounts. You can think of the chart of accounts as holding places for every item you want to keep track of in your business. Information about the chart of account is entered through the Chart of Accounts form (Appendix A).

A clearer picture of the flow within the General Ledger is like this, when the sales and receivables make sales, it flows to the treasury/Banking module; it is at this point that the General Ledger intervenes to do the necessary data posting. Also when the suppliers sends in their invoice the payables register it, when the good is received the payables do the invoice coding which will be made available for approval on the approval form, as soon as its been approved the general ledger intervene to do the necessary data posting.

The screen below gives an illustration of the various tasks that can be performed in this module:

This module keeps track of all the accounts with their codes. It depicts the hierarchical order of the accounting. AdmonBursary is built of 4 hierarchical layers, enhancing Management Information system.
• The Account types
• Control Accounts
• Chart of Account
• The accounts Details
Transactions are only posted into the account details. However chart and account details could be the same where a chart does not have further breakdown.

General ledger opening balances
AdmonBursary allows the client to choose a cut-off date for the change-over of this system.

General ledger balances are agreed as at this day and loaded to the system the day after which is the first day of the first accounting period on AdmonBursary.
Journal is another means through which information get to the GL. A client who buys only the general ledger module will have journal as its only source of input to AdmonBursary.

A journal can either be an Accrual journal or General journal.

An accrual journal is posted this month but automatically reverses in the first day of the following month. The journal has to be re-accrued or the invoice for which the accrual was made is now processed.

Accrual concept is a generally acceptable accounting practice. It also complies with International Accounting Standard (IAS). 1.

Accrual concept ensures that the account for a particular period shows the truth and correctness.

General journal is use to correct errors, wrong postings, reversal etc. it goes to the GL ledger as a real transaction immediately it is posted.

 Click journal menu from the GL Module
 Select the journal type i.e accrual or general journal
 Select date which is defaulting to today’s date.
 The period, accounting is defaulting
 Insert the journal details.
 Post journal

This journal is posted waiting for approval. However it can be edited while still waiting for approval.

Journal Approval
A journal becomes permanent only when it is approved, it this time it can no longer be edited.

Approval is by the authorized staff, usually not the person that entered the journal.

All journals posted will appear here under ‘journals to be approved’.
 Select the journal to be approved
 Select such journal to view its details
 Select Yes or No on the approval
 Select the approval date.


This part of the manual covers all the faculties as listed below:
1. Faculty of Management Sciences
2. Faculty of Science
3. Faculty of Social Science
4. Faculty of Arts
5. Faculty of Law
6. Faculty of Education
7. Post Graduate School (PGS)
8. Faculty of Engineering
9. LASU Foundation
10. Pre-degree Studies
11. Open Distance Learning & Research Institute (ODLRI)

Faculty Finance Offices are created out of management’s desire to take Bursary functions to the level of faculties/departments. This is called Faculty Accounting.

Faculty accounting is the decentralization of the Bursary Department whereby the financial needs of the faculties are satisfied through the Faculty Finance Officers, thereby eliminating the bottlenecks associated with direct dealings with the central bursary. The deployment will be on rotational basis so that Bursary Staff in a faculty do not become a landlord in the host department. The faculty finance officer will have other supporting staff to assist him especially in the areas of students’ financial transactions.

The Bursary Computer System has the facilities for monitoring Budget on faculty basis. For control purposes, the budget will still be committed centrally. This will serve as a control on the administration of the budget.

The faculty finance officers, as the technical officers in charge of the faculty finance will assist in the preparation and the defence of the faculty budget.
The budget performance report will be on faculty basis. Quarterly report will be prepared and sent to the faculties by BBC unit. The faculty finance officer will also have access to this on the system to verify if the budget for the faculty is properly administered centrally. He will however not be given the access to commit expenditure. He will follow-up and ensure that funds are committed on time. This will also apply to the Liaison Officers.

The ledger as at now is being administered centrally. However, the process of Payment Vouchers shall be done on faculty basis i. e. the coding and preparation of the vouchers will be by the Faculty Finance Officers.

Paid vouchers will be domiciled in the Central Offices for control purposes. There should be a central archive for this. Space will eventually be created to accommodate a central archive for our paid vouchers and all other financial documents.

This is being treated centrally. Preparation will still be centrally done, while posting will however be to the various faculties and departments. Faculties and departments will be able to know how much is being expended on the staff under them. Actual expenditure on staff will be produced quarterly. The essence is to ensure proper monitoring of staff. There should be organograms for each department. This must be functionally based. Every staff member should prepare his job function. This will facilitate proper monitoring and cost effectiveness.

(a) Act as Bursary representative in all faculty financial matters
(b) Processing approved requests for payment by raising payment vouchers after the financial commitment centrally.
(c) Attending to all inquiries relating to faculty finances.
(d) Actively participating in the preparation of the annual budget of the faculty.
(e) Liaising with the data processing unit in the Bursary Department for updating student financial records on the system.
(f) Issuing financial clearance to students based on student financial statements.
(g) Processing imprest for the faculty and disbursing same to the respective imprest holders.
(h) Mailing of documents in and out of the faculty.
(i) Attending to all enquiries relating to school fees, bursary award, and bursary numbers on students.
(j) Performing any other duties assigned by the Bursar.
(k) Maintenance of Register for all Fixed Assets in the Faculty

(a) Processing of Approved Requests for Payment
FFO receives request from faculty
(i) Obtain Dean’s authorization and Bursar’s approval
(ii) Commitment of approved request in BBC Unit.
(iii) Raising of payments voucher electronically in APPM Unit
(iv) Forwarding of request to Audit for vouching
(v) Preparation of transfer instructions in BSD Unit

(b) Preparation of the faculty Annual Budget
(i) Receipt of Budget call circular from Management Unit
(ii) Inform Budget Operators to send in unit/department’s input for compilation.
(iii) FFO collates all the inputs
(iv) Dean calls for meeting of Faculty Finance Committee for deliberation/ratification of proposed budget.
(v) FFO forwards draft budget to BBC Unit for inclusion in the University proposed budget.
(vi) FFO must be on the Faculty’s Budget Defense for Budget Bilateral meeting.

(c) Updating students Financial Records
(i) Obtain soft copy of school fees payment from data processing unit.
(ii) Obtain receipts generated from data processing unit.
(iii) Compare soft copy with receipt generated.
(iv) Endorse generated receipts if error free, otherwise return to data processing unit for correction.

(d) Issuance of Financial clearance to students
Faculty finance officers shall:
(i) Obtain approved list of graduating students from Faculty Officer.
(ii) verify from the students’ ledger, financial status of the students
(iii) endorse clearance form if no outstanding fees is to be paid
(iv) in case of outstanding debts, such has to be cleared before FFO can endorse the clearance form.
(e) Processing and Disbursement of Imprest to Imprest Holders
(i) Imprest holders must retire previously collected imprest (which must be vouched by the Internal Audit).
(ii) BBC Unit must therefore effect commitment of approved amount.
(iii) FFO raises Petty Cash Vouchers.
(iv) FFO collects cheque for approved amount.
(v) FFO disburses imprest to the imprest holders using approved list.
(vi) In case of replenishment, FFO will use previous month’s individual retired vouchers to make request for current month imprest.
(vii) Any undisbursed imprest within the month must be returned to the Treasury without delay and same shall be receipted for.
(f) Maintenance of Petty Cash Book
Petty cash book shall be passed for posting of imprest transactions.
(i) Update petty cash book on monthly basis immediately imprest is disbursed using Petty Cash Vouchers.
(ii) Analyze into various expenditure heads
(iii) The Petty Cash book must be endorsed each time it is inspected by any designated person or team.
(g) Attendance of FFO at the (FFC) Faculty Finance Committee Meeting
(i) FFO is a statutory member of this committee.
(ii) FFO advises FFC on financial matters.
(iii) Implements all finance related issues emanating from this meeting.

i. Only Faculty Finance Officer holds imprest funds
ii. There shall be restricted access to other financial documents
iii. Student receipts are checked and signed by Faculty Finance Officer
iv. All stamps used by FFO are controlled by Deputy Bursar (FM) and released to FFO on request.

(I) Vote Book – for recording committed expenses
(II) Students Ledger
(III) Assets Register
(h) Maintenance of Assets Register
Faculty Finance Officer shall open a Register for recording and updating all assets acquired by unit, departments and offices in the faculty. Information contained in this register shall include:
i. Description of asset
ii. Value of assets
iii. Invoice number and date of purchase
iv. Location of asset
v. Identification mark/number

Should there arise a situation where student(s) pay into wrong Account, correction of such errors shall be through application following the procedure itemized below.

The following shall hold in the above:
• Step 1
Students to submit application addressed to Bursar which must contain:
a. Student Name
b. Name of Campus
c. Bursary Number
d. Amount Paid
e. Copy of lodgment Teller
f. Wrong Account Number used
g. The supposed Correct Account Number

• Step 2
This application will be submitted at the Deputy Bursar (Operations) Office who takes the following steps:
a. Send the application to the officer- in- charge for confirmation of payment to the Bank i.e through Bank statement.
b. Deputy Bursar (Operations) minutes the confirmed application to his Secretary to prepare letter to the affected bank.
c. Letter to be signed by Bursar and Deputy Bursar (Operations).
d. Students Collect and submit the letter personally to the bank.
e. For payment with wrong bursary number, Deputy Bursar (Operations) requires officer- in- charge to confirm TRUE ownership of “claimed” Bursary Number to ascertain the truthfulness or otherwise of the student’s claim after which b-d is followed.

Refund of fees could arise as a result of:
a. Withdrawal of admission earlier given by the University
b. Non availability of the course applied for.
c. Student not satisfying stipulated admission requirements
d. Payment to wrong Bank e.g WEMA instead of Sterling Bank.

Steps1 & 2 above will be followed except items b, c and e in step 1 and student must submit Transfer receipt used for lodgment or Electronic receipt issued.

The following steps are to be followed
i. Deputy Bursar (operation) recommends to Bursar to seek Vice Chancellor’s approval for refund.
ii. Vice Chancellor approval is sought for the refund by the Bursar.
iii. Approval is granted by the Vice Chancellor and minutes to Bursar.
iv. Vice Chancellor approval minutes to BBC unit by Bursar for Commitment.
v. Committed Vice Chancellor approval minutes to APPM unit for payment voucher
vi. Payment Voucher raised is passed to internal Audit.
vii. Audited payment voucher dispatched to BSD unit for payment.
viii. Transfer is made to the student’s bank account
ix. If the refund is as a result of payment to wrong Bank, Cheque is written in the name of Student/LASU and pay to the correct Bank.

The Bursary electronic online real time is a flexible application with much functionality built into it. One of these is the ability to make payment for a student searching for that student in the database using the student profile such as the school, department, programme, level etc or by using the bursary number that retrieve relevant information of the student.

(a) Student payment via Student Account  Opening record  System
The first step in making payment for student in this way is to find the student by searching the database.
Student Receipt Entries
 After opening the form, Select the session the student want to pay for
 Select the Mode of Entry, School, programme, faculty, Department, PG course and level.
 In the “Enter Surname” text box, enter the Surname of the student. All students bearing that surname will line up in the grid below the student information section.
 Look for the student you want to make the payment for. If found Select him by clicking on the row you have found him.
 This will enter the Bursary Number as well as the Matric Number.
 Click the type of payment i.e. Student receipt or General receipt or other receipt.
 The Fees Grid (grid with green back-colour) will be populated with the all the fees necessary for the student at that level, only if it is Student receipt.
 Select Staff rebate if the student is a staff and Other Student if not.
 Select the Bank the student paid into.
 Enter the Teller No, Receipt No.
 Enter the Amount paid. Amount payable come up by default.
 Click Pay to finish the transactions.

General Receipt entries

 After the student’s information have been entered. Click the Insert button of the Fees grid.
 A dialog box with Green back-colour appears containing all fees that fall into this category.
 Select the type of fees for students to pay. As you do this the Fees grid will be populated. Do this for all type of fees you want to pay.
 Follow the remaining step as for the student receipt.

(b) Student payment via Student Account Student payment School fees

In this form, you don’t have to know anything about the student except the Bursary Number.
 Enter the Bursary Number in the text box provided for that.
 All information of the student comes up.
 Select all other field.
 Select the type of fees. The fees grid is populated
 Enter the remaining field.
 Click Pay button to finish the transactions.

Student Enquiry

Student Receipt Information

Both student personal information and the receipt information can be viewed real time on-line in this module.

 Go to the form via student  Student enquiry
 Enter the Surname of the student into the text box provided. As you type the surname is sorted alphabetically.
 If the receipt information, it is possible to reprint the receipt by copying the receipt number. Then click Re-print receipt button. A dialog box comes up, Paste the copied receipt no.
 Click Print button to print the receipt.

Reports that can be generated include the following:-

 Student records
 Student payment
 Student debtors analysis
 Student statement of account
 Receipt reprint


This unit is a product of the University’s determination to support the national policy on e-governance, e-Commerce, e-payment, e-business etc. Bursary therefore, has taken it upon itself to introduce students into this innovation by making them carry out any financial transactions in the University electronically.

Apart from the above reason, students Ledgers, showing their financial status each year is now readily available. University on its part is now able to determine readily, the defaulting students financially. And, the University’s income is easily and timely monitored with the electronic system.

There are two units under data Processing
a. Data Processing unit for regular Students ( including sandwich and post graduate Programmes)
b. Data Processing unit for Special Programme
c. Data Processing unit for Post Graduate Students

i. It is the responsibility of the unit to set up school fees for every existing and prospective students at the commencement of every session.
ii. To generate students Debtor List.
iii. To provide refresh for updating of student Ledger to faculty finance officers.
iv. To correct record in case of wrong payment.
v. To print copy of receipt in case of loss of receipt, for students that had paid before the commencement of the new payment system on REMITA
vi. To update and reconcile students ledger

A. School fees
ii. Download of students payment from REMITA’s platform are the source for imputing school fees payments
iii. This download is sent from ICT to System Support unit (SSU) and this unit distributes it accordingly for posting into respective students’ ledgers
iv. Receipts are processed automatedly.
v. Receipts are generated for individual Students.
vi. Receipts generated from the system are sorted on faculty basis and forwarded to each faculty through the Deputy Bursar, faculty matters.
B. Wrong Payment
i. There must be a written complaint from the affected student.
ii. Payment must be confirmed by reconciliation office.
iii. Deputy Bursar (FM) must authorize correction to be effected.
iv. The Complainant must be communicated of action taken through Faculty finance Officers.

i. There must be written complaint and request for replacement.
ii. Evidence of Payment must be attached and / or confirmed by Data processing Unit.
iii. Deputy Bursar (FM) having been satisfied with the evidence produced will authorize payment of penalty.
iv. Data processing Unit will be authorized to confirm payment and process replacement.

1. Bank statements (photocopy) from designated banks are kept in Reico files by staff handling such bank.
2. Register to record mails in and out of the office.

1. No staff member of the unit shall sign receipt generated
2. Only head of the Unit shall collect Bank statement for Data capturing.
3. Data captured by each operator are vouched after posting using either bank statements or tellers by another officer in the unit.

The unit head reports to the Deputy Bursar (faculty matters).
This module manages Student account, which include student payments, refund, opening balances, generate bursary number for each student. Student enquiry can be treated in this module as well as the enquiry about student receipt. It can be used to print payment receipt.

Upon completion you should be able to do the following:-
• Setup school fees
• Setup other fees
• Enter payment by any student using the bursary number both student receipt and other receipt
• Make enquiry about any student
• Be able to refund student if need be
• Enquire about the student payment
• Generate bursary number for new student
• Generate student record report
• Generate report on student payment
• Generate report on student debtor
• Generate student statement of account

The first step in student account module is the setup and this is very easy to do with AdmonBursary.


To setup the school fees, follow the following steps
 Click on the Add button.
 Select the right programme, the faculty, mode of entry.
 Select the session to setup the fees.
 Select the department, Pg course and the Level.
 Click the Insert button
 Then click the button on Fees description column
 A dialog box shows up according to programme, school, department etc. you had selected. Then select the type of fees you will like to setup
 On clicking this type, the account code appears on the account code column
 Enter the Amount in the right column
 Enter 1 if the type of fees is not rebatable and 0.5 for rebate
 Enter Y if the fees is general receipt and N, if the fees is student receipt
 Continue these steps until all the fees are setup
 Click View Total Amount if you want to confirm the total amount.
 Click Save to submit all your entries and Close the form.

Another important thing to do is to generate the Bursary Number. This is done through the registration of the student. To register students do the following:-

Click the student account menu on the main student account module. Opening record shows up. Select the New student, the form shown above comes up.
 Select the programme the student belongs to. Select the Faculty, Programme, faculty, Department, PG Course if need be or else select “N/A” i.e. not applicable.
 Select the Mode of entry, Level and the Date.
 Enter the Surname, First name, other name and the matric number of the student.
 Click on Add, a number is generated automatically into the “Green back-colour” text box. This number is called Bursary number which is the account number of the student.
 Click save button to submit the entries. Then close to continue.

AdmonBursary is a flexible application with much functionality built into it. One of these is the ability to make payment for a student. Searching for that student in the database using the student profile such as the school, department, programme, level etc or by using the bursary number that retrieve relevant information of the student.

Student payment via Student Account Opening record System

The first step in making payment for student in this way is to find the student by searching the database.

The Bursary electronic online real time is a flexible application with much functionality built into it. One of these is the ability to make payment and search for student in the database; using the student profile such as the Campus, Department, Programme, Level, Matric number and Bursary number in retrieving relevant information of the students.

How it works
Firstly you must have a PIN to enable you to log on into the ADMON DATABASE, after logging-on Admon is displayed with a File and Module packages on it. DPU External makes use of Modules. When you click on module, student ledger is displayed, click on it. Under the student ledger, we have the following sub-head;
1. File
2. Students Account
3. Students Enquiry
4. Report

1) FILE: Under the file we have Fees set up and Return Main. Click the Fees set up where you will see the School Fee and Other Charges. Click on the school fees, you will find a set up as shown below;
(a) Student Fee Set Up
 After opening the form, select the school e.g. SPTS External
 Select the programme e.g. Diploma, Degree and Post Graduate.
 Select the Faculty
 Click the mode of Entry and enter either N/A or Direct Entry.
 Click to choose the particular session
 Click to choose the related department.
 Enter the course
 Click the level
Opening a dialog in which the money/amount will be inserted for setting which involves:
o Account ID
o Fees Description
o Amount
o Rebatable
o The percentage
o Add the insertion
o And others, insert instalmentally i.e. 1st, 2nd and 3rd installment. The amount would be installed.

A dialog box shown below view the student fee set up.

2) Students Account: Under this we have the following;
a. Opening Record
b. Student Payment
c. Under the Opening records we have the following;
i. Existing
ii. New Student
iii. Transferred student
iv. Edit Records
v. Edit Main Table

DPU External mainly work on, the new student and Edit records modules.

(i) New Student Form: This is used to create Bursary number for the new students
• After opening the form, click on school and this will bring out SPTS External
• Click the campus to select the particular campus to work upon
• Select Faculty
• Enter the Course
• Select the Mode of Entry either by Direct Entry or Degree.
• Select the Programme
• Select the Department
• Select the level of the student
• Click on level
• Click and select the date of the registration of the particular student.
• Enter the Surname of the student, Middle name, other names and Matric number.
• Click add above
• A designated Bursary number would be displayed with such student after the registration and then save it.

(iv) Student- Edit Record: This is used to correct if there is any error in previous information on student or when student seeking for transfer from one campus to another, and needs for change of bursary number. Edit form is used.
• Click Edit, Faculty and programme are edited.
• At this point any amendment, addition or deletion are made.
• After, Click on update and every information corrected are saved.

i. School fee
ii. Sundry payment

When you click on the School Fee, a list of banks will be displayed and each bank and its details. Click on the bank you want to work with, then click on ok. A set up will appear as thus;
Student payment form is on display
– Enter the Bursary Number, the name of the student and other information. E.g. level, course e.t.c are displayed.
– Select session of payment
– Enter the date of payment
– Select the installment paid. That is, 1st, 2nd, 3rd installments.
– Select payment Rebate
– Bank is displayed
– Enter the Bank Teller and Receipt Number
– Amount payable automatically appeared.
– Enter the Amount paid through Bank statement by students
– Click pay and payment is saved.

All payments on bank statement that cannot be traced with BIN or student names are posted to Sundry payment.
After click on Sundry payment Banks are displayed, select which bank is paid into and click ok.
o Other payment form is displayed
o Enter the payee in paid by
o Describe the payment being sundry payment
o Select the payment date
o Select the mode of payment either cash or teller
o Click on bank, the receipt number automatically appeared
o Enter the teller number
o Enter the amount paid
o Lastly click on pay to finish the transaction.
4) STUDENT ENQUIRY: Under this we have the following;
i. Student information
ii. Receipts enquiry
(I) Student Information:
This is used if the student Bursary number is not known. Enter the surname, all the names under that name are displayed alphabetically with their bursary numbers.

(ii) Receipts Enquiry:
Enter the surname and first name, all payments made by the particular student are displayed with the following information below;
 Date of Payment
 Student Name
 The Description of the Payment
 Receipt Number
 The Amount Paid
 Session
 Bursary Number
 The Issued Person
 The Department
 The Level
 The Programme
 The Bank into which the money is paid into
 The Draft Number
 The Receipt Number.

(5) Reports: Reports that can be generated include the following:
• Students’ records.
• Student payment
• Student debtors analysis
• Student statement of account.
• Receipt printing
• Sundry payment schedule

Student statement of account as illustrated below

Treatment of Wrong Payment:
When a student make wrong payment of school fees a letter is written and addressed to the Bursar.
This letter is referred to DPU External for payment confirmation from the bank statement of the affected campus. After confirmation, a letter is issued and signed by the Bursar and Deputy Bursar to the bank for reversal of payments

1. To ensure that all payments made by students are posted to their individual ledgers
2. To generate debtors list from time to time
3. To effect correction of Payments into wrong account
4. To generate Student statement of Account.
1. Bank Statements from the banks both soft and hard copy
2. Mails Register.
Bursary numbers are used as internal control because any student without Bursary Number cannot be recognized as bona-fide student. Posting into student ledgers are from Bank Statements and not tellers to avoid fake tellers or double posting.

In summary, the purchasing unit cannot perform in isolation hence the activities are not completed until when the goods has been paid for.


This is the fulcrum of the bursary department, as it represents the life wire of the department computerization backbone. The unit is manned by competent computer hardware and software engineers with knowledge of the accounting software in use. This unit is able to provide ad-hoc and routine intervention on system issues that bother on hardware and software. They act as a stop gap to keep accounting system operations running before external intervention is secured.

• Provide first aid intervention for routine software and hardware problems to all units in the department
• Manage the department accounting database system
• Manage access to the department computerized accounting software
• Ensure adequate control is in place to safeguard computer equipment in the department
• Ensure the computerized accounting system is protected with credible anti-virus software to forestall system disruption arising from hackers
• Ensure accounting data protection through regular back-ups servers and storage in a secured location
• Carry out and maintain networking of the department computerized accounting infrastructure for seamless operations
• Co-ordinate the introduction and mapping of new service codes with in conjunction with the University’s ICT and collection platform providers
• Carry out other system related assignment as directed

1. Computers
2. Servers
3. Power driller
4. Power pack
5. LAN tester
6. Punch down tools
7. Relevant operating/application software, etc

I. Food, drink and tobacco which can build up contaminants or damage sensitive equipment are prohibited in the server room.
II. Regular check of fire alarm /smoke detector to make sure it is working in case of fire breakout.
III. Recovery plan and strategy must be in place in case of system failure.
IV. Copying or viewing of sensitive information as well as back up file is not allowed.
V. Temperature and humidity of the equipment area must be maintained regularly to avoid crashing of the servers.
VI. Database room is out of bounds to non-staff members of the unit.
VII. The servers must always be under lock and key.


Foreign amounts that come into the domiciliary accounts of the University can be for the following purposes:
i. Foreign cash that belongs to the University as forms of grants/donation.
ii. Foreign receipts for application fees, transcript fees and other income for services rendered to clients abroad
iii. Foreign cash given to an employees of the University in form of grant for Research, conference sponsorship etc.

i. The foreign grant that belongs to the University should be recognized in our book of accounts at the rate of exchange ruling on the transaction day
ii. The foreign grants that belong to the employee is not University’s fund, but collected on behalf of the University, such fund should also bring into the University’s book of accounts at rate of exchange ruling on the date of the transaction and be recognized as a Liability.
iii. Foreign grants should be acknowledged with gratitude letter from the Management to the donors
iv. Internal payment procedures of the University must also apply before any foreign amounts can be spent.
v. For payment to the beneficiary of foreign grants received on their behalf, 2% surcharge for commission on turnover (COT) and administrative charge will be deducted before payment of the naira equivalent on the rate ruling at the date the fund came into the University’s bank account. In case the Naira depreciates at the date of payment, the beneficiary should be made to benefit from the gains and vice-versa, if the Naira appreciates.
vi. For donation with condition, such condition must be observed when applying such donation
vii. Monthly reconciliation of the domiciliary accounts must be carried out.
viii. At the end of the year, the balance in the University’s domiciliary accounts must be translated at the rate ruling at the balance sheet date; the gain on exchange that relates to the University should be recognized as revenue and the portion belonging to the employees recognized as liability.
ix. Ledger account should be opened for grant received on behalf of the employees.

Recognition of donations in the domiciliary accounts of the University should be recognized in line with the accounting standards as enunciated in International Public Sector Accounting Standards IPSAS 4 and17, which is ‘THE EFFECTS OF CHANGES IN FOREIGN EXCHANGE RATE AND REVENUE FROM NON-EXCHANGE TRANSACTION’ respectively that stipulates revenue is recognized for foreign amounts that belong to the University as grants/donation, such fund is translated at the rate of exchange ruling at the date of the transaction, the foreign currency grants for the employees, domiciled in the University’s bank account is translated at the rate ruling at the date of transaction and recognized as liability.