How to read these tables
Transactions
Date - the date that the transaction was recorded in the system.
Account - the account code that the transaction was charged against
Document - the cheque number, paying in slip number or journal description.
Amount - money received - (£pounds.pennies) or spent - £pounds.pennies
The first transaction in each budget category is the budget for expenditure (or income).
The next lines will show how much of this budget is being withheld because of a lack of members or documentation.
At the end of the transaction list for each natural account there will be a balance line.
This will show how much money is available to spend or how much it is overspent (or more income required).
There are five dimensions to the accounts (of which 4 are shown here)
1) Natural Account - tells us what the transaction was for - also known as a budget code.
2) Centre - tells us who the did the transaction - also known as a club code.
3) Activity - tells us which transactions fit together in a set of connected transactions.
4) Funding - tells us who provided the underlying income for the transactions.
5) Consolidation (not shown) - tells us if we dealt with ourselves, the college or an outsider.
Rules
Each Funding account must not become overdrawn of itself (imagine them as bank accounts).
Activities within each Funding may be overdrawn against each other but not in total.
Natural Accounts should not exceed the set budgets.
|