Finance is about the organisation generating enough income to support the planned activities. Regardless of whether you are a large or small organisations you will have to handle money and the people who care about your organisation expect you to be honest, economical and accountable.

Some organisations will have a paid staff member to manage the finances and others where the Treasurer will be responsible for accepting and banking money, dealing with bills and bookkeeping.

As a minimum organisations would be expected to:

• Record incoming money via cash, cheque or payments direct to accounts
• Meet requirements for donators i.e. street collections, public events
• Record outgoing money e.g. direct debits, cheques, and petty cash
• Keep copies of bills, including when they were paid
• Keep bank statements and check they are accurate
• Agree an annual budget
• Common procedures for managing money would be;
• Payment of staff salaries i.e. PAYE, National Insurance
• Payments of Tax, Insurance, VAT and statutory payments
• More than 2 signatories for cheques and a financial limit set to be agreed by Trustees
• Meeting specific requirements of funders and auditors