This traditional financing and monitoring model is still implemented in most Horizon Europe grants. Therefore, it is important to get to know how to work with this model. The dedicated course focuses on all the elements that a project coordinator should be aware of for efficiently implementing an actual cost project. This training will elaborate on the following aspects:

DoA to reality: revisiting, adapting, adjusting when needed and monitoring the original Description of Action (DoA) budget to the execution reality. Similar to Course E.1 above, this is a basic step for ensuring smooth execution of the project. In this course we will focus on the specifics of the actual cost model when approaching this step.
Personnel costs: this is usually the main segment of the project’s budget, and in many cases handling the personnel costs is a straight-forward process. However, there are many special cases and considerations which do not conform with the regular and usual practices. This training will go deep into all these special cases and provide useful insights about how to handle these.
Other budget items such as: equipment, travel and goods and services costs, internally invoiced goods and FSTP – we will discuss the special cases in these items and explore the best practices of handling these under the actual cost model.
Records keeping and getting ready for financial reviews and audits. The training will address best practices of handling the financial records to ensure that the organisation is best prepared for potential reviews and audits.
Payments under actual cost model
Financial management of multiple concurrent projects (with full or partial overlaps). How to prepare for that? How to manage this effectively? How to ensure that the records are kept in the best possible way, and how the organisation can prepare for potential reviews and audits under such settings?
Handling deviations from the original budget
Handling transfers between partners
Handling over- and under-spending
Handling budget surpluses during the execution phase
Tools and templates for effective financial management