2. Financial Correction - description

For both types of corrections - linked to invoice and not linked to invoice - the following section is identical.

Corrected amount

In this section the corrected amount should be indicated in Euro. What is important to note is that there are no automatic calculations made in this section. The user should therefore make sure that the co-financing rates of the partner are respected.

In case flat rates apply to the cost item it has to be ensured that the corresponding flat rate amounts are included in the corrected amount.

Once the co-financing is completed the total amount is automatically displayed.

Positive corrections

The toggle in the table is automatically set to negative. In case a positive correction is needed, the toggle needs to be switched. In the corrections overview it is visible, which amounts are positive and negative which is reflecting the toggle.

Other fields to be completed in this section

There are a few fields that should be completed in this section like the date when the beneficiary was informed and the comment fields.

Two fields are critical in this section besides the calculation of corrected amounts:

1. The “Correction type” is a mandatory field that contains the exhaustive list provided in the regulation of all types of corrections that are used by the Audit Authority.

2. The toggle “This correction is related to a clerical/technical mistake OR related to expenditure not yet included in a payment application to EC (see section 4 below).” has an influence on the annual accounts. If this field is answered with a “Yes” the correction is basically not considered an irregularity. Therefore this item can be corrected in the payment application but it shall not be reflected in the Annual accounts in Appendix 2. It is therefore important that this question is answered correctly and truthfully.