Financial Control procedures
a. ACCOUNTS PROCEDURES
b. STAFF WAGES
c. CASH RECEIPTS
d. Day Centre income will be:
e. GRANTS
f. ONLINE BANKING
a. ACCOUNTS PROCEDURES
i. All invoices must be sent to the head office at:2 Crediton Road Okehampton, EX20 1LU
ii. Each invoice is checked and authorised by the person appointed by the Trustees and endorsed with received and paid stamps and initialled.
iii. Invoices are paid once a month, where possible by:
1. The Chief Officer (or an appointee) writing a cheque from the appropriate account.
2. Entering the cheque number and date on the PAID stamp
3. The chief officer or first trustee signing the cheque
4. Passing to the Cheques for TRUSTEE SIGNATURE file with the invoice and explanatory documents attached and taking to an available second signatory trustee to sign as second signatory and telephoning a trustee regarding any delayed or outstanding signature
5. Determining the Account category
6. Entering the account details on the appropriate computer software by clicking the QuickBooks Icon in the TCM management control software.
7. Create backup file to detachable drive HDD or in emergency a CD Writer disk, floppy A: disk.
8. Check that the accounts will not become overdrawn.
iv. The Chief Officer will transfer money by phone between Reserve and Current accounts and by noting the transfer in the QuickBook accounts.
v. File Invoice in INVOICES file for current year in cheque number order and replace in locked wages/personnel/accounts cabinet at 2 Crediton Rd, Okehampton, situated in the main office. Back to top
b. STAFF WAGES
i. The wages will be calculated by the Chief Officer, or trustees appointee, entered into the appropriate Inland Revenue records, and a written summary sent to the Chief Officer in the third week of each month including completed wage slips for each employee. A computerised copy will be kept on a spreadsheet and will be printed out and also transferred to the Office Computer each month.ii. All employees are responsible for informing the appointed Officer of any changes in hours worked, sickness etc, and also monthly advising the Chief Officer by Centre Summary Return completed for each Day centre.
iii. All wages will be normally be paid by the last day of the month.
iv. Cheques will be written by the Chief Officer or appointee and passed for signature as above and distributed on the last Monday of the month by hand or by first class post Back to top
c. CASH RECEIPTS
i. All cash received in Okehampton will be counted by two people, noted down and paid into the General Account within one day of receipt. Shop income received from the sale of donated goods will be recorded on a weekly ledger sheet.ii. Receipts will be issued by the Head Office, on request.
iii. Funds. No cash will be kept overnight, if at all possible.
iv. Monies in excess of £100 will be deposited at the bank Back to top
d. Day Centre income will be:
i. recorded on the appropriate Summary record Form and deposited regularly to the appropriate account.ii. Centre organisers may be authorised by the Chief Officer or a trustee to make emergency payments or purchase supplies. Back to top
e. GRANTS
i. All income above £2,000 will be normally paid into the Reserve Account on the day of receipt.ii. An accounts category will be determined describing the funds as designated, restricted or unrestricted.
iii. Details will be entered into the computer accounts on the same day.
iv. Any grants requiring a separate account will be moved into an appropriately named account within five working days. Back to top
f. ONLINE BANKING
All passwords are kept locked in the accounts cupboard.ii. The Chief Officer or appointee will download statements at least once a week.
A copy of this document will be held by the Financial Adviser and Chief Officer, in the Policies and Procedures file and kept in the OnlineLibrary. Back to top
