All country, regional and global programmes and projects are required to adhere to the quality standards for programming. Managers are accountable for upholding them. Quality standards are strategic, relevant, principled, managed and monitored, effective, efficient.
Quantum Financial Closure Instructions refers to the process of completing the input of all accounting entries to the UNDP general ledger. This includes the recording of all business transactions for the period as well as any corrections and adjustments pertaining to prior periods. Since the general ledger forms the basis of the financial statements as well as many other reports, it is essential that all inputs be complete and accurate.
A Cash Management tool that consolidates balances from multiple bank accounts (sub-accounts) used for both collections and disbursements into a single master account daily. During nightly posting of transactions, either excess funds are swept from the sub-accounts to the master account or funds are swept from the master to the sub-accounts to restore all sub-accounts to a zero balance. This action is undertaken by the bank with which the ZBA is held.