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Q: ERC - How do I report interest generated on the account on which I received pre-financing for my ERC funded project?
A: Only for the grant agreements signed until 31 December 2012: The beneficiary reports the amount of any net interest yielded by the pre-financing it has received at each financial management reporting period as agreed in the Grant Agreement. The amount of the interest declared by the beneficiary has to be detailed in its financial statements and will be offset against subsequent payments..
Category : ERC - Cost Management for Grants ( Interest-bearing account )