SERI financial reporting in Horizon Europe projects – procedures and timelines for Swiss organisations
10th December 2024 at 4:14 pm
Since the start of Horizon Europe in May 2021, Swiss public and private research partners are no longer eligible for funding under Horizon Europe calls due to Switzerland no longer being a fully associated country like in Horizon 2020. To address this funding gap for Swiss institutions, the State Secretariat for Education, Research and Innovation (SERI) committed to directly funding formerly eligible Swiss partners. While SERI generally follows the European Commission’s (EC) rules and guidelines for financial reporting, there are some important differences Swiss organisations should be aware of when participating in a Horizon Europe project. As these differences were covered in the previous blog post of our project management – finance series, we will now share our experience with the new SERI reporting schedule and procedures.
Understanding the financial reporting timeline
To help you manage expectations and allocate sufficient preparation time, the financial reporting timeline for SERI-funded projects is shown here.
The reporting timeline applies to both reports because contrary to the EC, each SERI-funded Horizon Europe project participant has only two reporting periods, irrespective of its overall duration, and is structured as follows:
- For projects lasting between 12 and 36 months, the first financial report is due after 12 months.
- For projects lasting 36 months or longer, the first reporting period ends after 24 months, after which an interim financial report is due.
The second reporting period concludes at the end of the project, after which a final (financial) report is due.
Your reporting period has ended – what’s next?
After the end of the first reporting period, the process is as follows:
- Initial contact from SERI: Within the first few days after the end of the reporting period, the designated contact person listed in your SERI contract will receive an email from the responsible project manager at SERI. This email includes a download link to the latest financial summary sheet template and a link to the webform where you can upload and submit all necessary documents including timesheets and proof of salary payments.
- Important considerations for the webform: The webform link grants access to anyone (no password protection) and thereby allows access to your uploaded data such as salary information. Handle this link securely. The webform itself has a size limit for uploads in individual sections, typically ranging from 30 MB to 100 MB. If either of these points are a challenge, you can request a separate upload link from your SERI project manager.
- Submission deadline: You have 60 days from the end of the reporting period to submit your financial report. Please ensure that you compile and upload all relevant documents well within this timeframe to ensure that SERI can review and approve your report and make the next payment.
Your report is submitted successfully – what’s next?
Once you have submitted your financial report, these are the next three steps:
- Review by SERI: Your financial report will be reviewed by SERI, a process that typically takes 2 to 4 months. During this time, you may receive requests for additional information or clarifications.
- Approval notification: You will receive an email notification once your financial report is approved.
- Invoicing: After receiving the approval email, you can issue an invoice to SERI for the next payment instalment. SERI generally processes payments within 30 days of receiving your invoice.
For the second and final reporting, the process should be the same and any changes would be communicated by SERI.
How accelopment can support you
As one of the largest Swiss associated partners in Horizon Europe projects, we bring a wealth of experience to the table. Our expertise in SERI reporting requirements and audit regulations ensures that your documentation meets all current standards and new requirements and that you receive your next tranche of funding promptly without any objection.
At accelopment, we specialise in helping project partners prepare accurate and timely financial reports. Our financial experts and project managers can guide you through the process, ensuring all required documents are prepared efficiently and ready for submission.
Yannic Fechtig
Innovation & Digitalisation Associate