Cash Books

Accounting for our money

Girl Guides Victoria collects money from our members to deliver a service to our members.
Making sure that we are using the funds for the purpose intended is key to being a trustworthy organisation.
Funds raised either via unit fees, donations or any fundraising activities by Units, Districts or Regions or associated committees are held in trust for, and by Girl Guides Victoria (Girl Guides Association Act 1952, S5 (6)).
This means that all funds should be accounted for appropriately.


There are three steps you need to take to account for the money you are holding in trust.

Step One: Collect
You should collect your information throughout the year, so that you're not stuck with a lot of work at the end of year. It's also easier to fix up any problems that come up (and they do no matter how careful you are!) as they happen.

Step Two:  Review
You should have your records reviewed by an external auditor as soon as possible after the 31st December.

Step Three:  Report
Your report is due to GGV by 31st March of the next year. Go directly to Online Reporting or download a document to fill out manually.

Step One: 

Collecting information

For the last couple of years we have been collecting information using the 'CashBooks' spreadsheet.
This spreadsheet allows for detailed recording of information required.
Your auditor will need all of this information to review your accounts.

There are other ways of recording your information, which you are able to use.
You can use spreadsheet tools like CashBooks or you can create your own.
Or you can try using an online accounting system like Quickbooks or Xero.

The important thing is, that you arrange your information so that you are clear about what income you've received, when and from whom, and what money you've spent on what, when and who you paid.

At the end of the year, you'll need to provide this information to your auditor and a summary of the information to GGV. See Step 2 for what's needed.

Tools


There are lots of ways you can record your financial transactions. You can use our CashBooks spreadsheet, you can use an accounting software program, or you can use a paper-based manual system. The important bit is,
 - record all the money you receive and all the things you spend money on
 - make sure that your money in and your money out balances with your bank balance at the end of every month.
 
For every bank account you manage, you will need to make a separate report (see Step Three).

CashBooks spreadsheet:

This has already been set up for you, with all the different categories that you'll need.

Download a spreadsheet to record information for the 2016 calendar year

Download a spreadsheet to record information for the 2017 calendar year

Software:
If you'd like to use an accounting software package (these attract fees), here are two that you might find easy to use:
Quickbooks
Xero

Manual records:
You are also free to use a paper-based system. Here's a document that you might like to use as a template that you can download and print out.

If you'd like some pointers on how to manage your cash, this is a really great site that has lots of free, useful information for you as well as other templates you might like to use.


There are other systems, both spreadsheet and accounting packages - feel free to explore or used a preferred package. Just so long as you collect the information required, you can use whatever system you prefer.


Step Two: Review

Review
To make sure that we're collecting the right information in the right way, all records should be audited.

Each bank account will have supporting documentation that you've collected over the year (see Step 1), to show how you arrived at the closing balance that you did.

Every transaction should be supported by some sort of documentation.

How do I review my accounts?

Your documentation and bank account details should be taken to an external auditor, who will review your accounts, make sure they have been recorded accurately, and will certify this.
The following people are appropriate to audit (review) your accounts:
 
 - Bachelor of Business or Commerce with an Accounting major
 - A full member of an accounting professional body such as CPA Australia, the Institute of Chartered Accountants in Australia or the National Institute of Accountants
 - Bachelor of Business or Commerce with an Accounting major
 - Certificate IV in Financial Services (Bookkeeping)
 - Professional experience as a Bookkeeper, Accountant or Auditor
 - Experience keeping community organisation accounts

If there are issues, you should work with your auditor to resolve them, and to work on a system to make sure they don't happen again.

Here is a checklist for you to give your auditor:  Checklist

Once your audit is complete, you'll need to report to GGV.

Step Three: Report

 Your report is due by 31st March each year.

There are two ways to report to GGV. You can:






1)  Submit your cashbooks ONLINE

2)  Print and submit your cashbooks reports via post/email

What you'll need to submit

For each bank account that you will be reporting on, you will need the following:
 - Signed and completed Statement of Receipts and Expenditure
 - Bank account details - BSB and Account Number
 - Fully completed Year End Audit Checklist
 - Copy of the last page or your bank statement that shows the balance (as at 31 December, or the day the bank account closed - whichever is the most recent date).

For every group of cashbooks that you are responsible for (some people only prepare one set of cashbooks, other people are responsible for multiple cashbooks) you will need a fully completed Declaration. As part of this Declaration you'll be required to certify that the information you've provided is accurate, and that you have disclosed all of the bank accounts that your Unit/District/Region is responsible for.