Producing year-end receipts
and payments accounts
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Keeping records
Receipts (income received) - all bank
transactions should be supported by records and bank or building
society statements and these should be made available to the
independent reviewer/examiner.
Payments - these must be supported by receipts
or signed petty-cash slips, and clearly numbered. This reference
must be recorded against the transaction in the records. These must
be made available to the independent reviewer/examiner.
When preparing the annual accounts statement
please bear in mind the following.
- All receipts and payments must be shown in full. However, when
calculating in which band your income/expenditure reporting
requirement falls, the amount corresponding to the annual
subscriptions paid with the census form can be deducted from the
total income and total expenditure. Weekly subscriptions to pay for
unit expenses should be counted.
- All bank accounts which relate to the general purposes of the
unit must be combined into one annual statement. General purposes
include camp, holiday, fundraising and Trading accounts.
- The same rule applies to the area accounts, but a District or
Division does not have to combine the accounts of its Friends of
Guiding group into its annual statement. If a group has its own
constitution and has almost complete control over its fundraising
and distribution, in consultation with the appropriate adult
members of Girlguiding UK, it keeps its own accounts and produces
its own annual accounts statement within the same guidelines as a
unit.
Statement of public
benefit
The [County] is a branch of Girlguiding UK, which with its
branches forms the United Kingdom's largest voluntary organisation
for girls and young women. A report on Girlguiding UK's public
benefit activities during the previous year can be
found in its latest Annual
Report.
The [County] has continued to provide its own public benefit
activities in particular by providing organisational and
administrative support and training to subsidiary branches of
Girlguiding UK within the County, and organising activities
principally for the benefit of those branches, and also promoting
more broadly the charitable objects of Girlguiding UK for the
benefit of girls and young women.
Statement of assets and
liabilities
Guiding units must comply with a new charity
accounting requirement to produce a statement of assets and
liabilities at the end of the year (not applicable
in Scotland, information and advice can be given by Scottish
HQ). This is a simple statement to complete, and it should be
prepared along the lines of the receipts and payments form outlined
on the
Finance and insurance page. It should include the
following:
- Cash and bank balances - these will be the same figures that
are included on your receipts and payments account.
- Equipment and other assets - land or buildings, investments and
any valuable equipment should be recorded. In order to include
these, it would help to keep a record of any relevant expenditure
on equipment during the year. Cost or current value need be shown
only if it is known.
- Any other amounts, which are owed either to the unit or by the
unit, at the year-end.
Units with annual income or expenditure
exceeding £10,000 must have an independent examination of their
accounts. You should seek advice on this from your County, Division
or District Treasurer as it involves a more formal examination of
the accounts than the required independent review for income below
£10,000.
Units with a separate
endowment or restricted fund
A unit can have more than one distinct fund.
Most units will have only a general fund, which can be used for any
of the general purposes of the unit (including camps, holidays and
outings). Some units may also have either an endowment fund, which
is permanent capital and from which only income can ever be spent,
or a restricted fund which is held in trust for some special
purpose rather than for the general purposes of the unit.
The existence of these different funds must be
evident from the accounts statements. The receipts and payments
account should either be presented with different columns for each
distinct fund, or a separate receipts and payments account should
be prepared for each fund. The statement of assets and liabilities
should show which fund an asset or liability belongs to.
Branch
Associations
Members of Branch Associations should follow
local legislation.
Further help
Any queries or problems should be addressed in
the first instance to your local Commissioner. If she is unable to
help, she will refer you to the appropriate person at your County,
Country or Region, or CHQ.
At the end of the year, a statement similar to
the independent examiner’s report form, outlined on
the Finance
and insurance page, should be prepared.
Page last updated: 12/22/2011