|
|
|
|
|
|
|
Good records and accounts are essential. Initially this can be done simply with one book listing income and expenditure. Set the figures out on facing pages and keep the same date at the top of each double page, carrying over the totals from the previous page. This will let you know at a glance how much you have raised and spent, and how much is in the bank.
As your group grows so the accounts should too. You may still have just one account book but within that there may be several cost and expenditure headings. For each, you will need to know how much is being spent, especially if you have set a budget for that expenditure. Keep records for each area, and link them to the central account book. It is likely that different members of your group will spend money on behalf of your group. The best way to keep track of this is to encourage people to spend the money first, get receipts and then claim it back. It is important that your treasurer is very prompt in meeting such claims, and equally important that all group members should always get receipts for expenditure. It makes sense to set a limit on day-to-day expenditure and to ensure that all major transactions are agreed by your group's committee or by all members. Maintaining records is not very exciting and often gets placed near the bottom of a list of priorities. Make sure this does not happen to your finances. All income and expenditure should be recorded as soon as it comes in or goes out. The simplest way is to put the details in a note book to be transferred later to your formal records. Don't rely on your memory or an envelope full of six-month-old receipts. For every transaction you should record the amount going in or out, the date of the transaction, what it was for, and who carried it out. Keeping records in this way will make keeping your central records far easier. It is important for your treasurer and co-ordinator to meet regularly to make sure that everything is up to date. At the end of the year you should look to produce an income and expenditure sheet for presentation to the rest of the group, so that people can be satisfied that their money has been put to good use. If you can get this audited by an independent but friendly accountant, it will show potential funders that you are a responsible and well-organised group. All content copyright © 1986-2008 BTCV Ltd. Registered charity No. 261009 |
