CLUBS & SOCIETIES finance TRAINING 2020/21

 

 

Link to training video - https://bit.ly/3nfuvlB



Download training presentation - click here

 

Questions Asked

Q - why is my finance report blank?

A - we are just waiting for the finance team to finish transferring accounts from last year to this year - once that's done your finance report will come through properly.

q - who will the finance reports be sent to?

A - president and treasurer.

Q - Can we claim expenses online now?

A - yes, through the new online expenses form! you can find the link on the main exec resources page.

q - how can we send money to charities?

A - this information can be found on the presentation slides, but essentially the su has a rag account (raise and give) which we can send money to charities from.

q - Is VAT still 20% and not reduced this year because of coronavirus?

a - vat will still be 20% on most things.

q - is claiming being done online this year or in person?

a - claiming expenses this year should all be done online through the links on the exec resources page.

q - Can we pay external speakers from the society's funds?

A - no, but you can reimburse their travel costs and the price of a meal (excluding alcohol.)

q - How can we funraise money online? where do we put the money we earn from it if we cannot put money in our accounts?

a - you can put the SU account details on your fundraising page and just make sure we're aware what's coming in. please refer to the training slides on what to reference and/or who to email when you are paying money into the su's account. 

q - Is it still ok to pay cash in at the SU reception if we have some left over from the end of last year that we couldn't pay in due to covid?

A - yes you can still pay cash in at SU Reception, just try to make sure this is a one-off thing if possible!

Q - Is click fundraising VAT applicable as people who make donations get a small thing in return?

A - no VAT is charged on CLICK funding as it is deemed a donation.

q - if we are asking people to pay for an event, do we ask them to pay straight to your bank account? As we won’t be able to track that ourselves if payment has been made? And we cant have them send their money to one of our personal accounts first and then we send it to your account?

a - we can set up tickets for you if it is for an event and payment can be made through this - we can then send reports directly to you so you can track sales and know who has paid.

q - how do we set up tickets on the website?

a - there is a typeform link on the exec resources page that you can submit details to and we'll use this to set up the tickets on your page.

 

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The University of Essex Students’ Union is a Charity registered in England & Wales (no. 1140278). Registered Office: Wivenhoe Park, Colchester, Essex, CO4 3SQ. SUHomes is the trading name of Essex Student Lets Limited, a company registered in England & Wales (no. 7413547). Essex Student Lets Limited is a wholly owned subsidiary of The University of Essex Students' Union, registered Charity no. 1140278. Registered Office: Wivenhoe Park, Colchester, Essex, CO4 3SQ UESU Limited is a company registered in England & Wales (no. 7321517). UESU Limited is a wholly owned subsidiary of The University of Essex Students' Union, registered Charity no. 1140278. Registered Office: Wivenhoe Park, Colchester, Essex, CO4 3SQ You can find our privacy policy here.

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