Money management
There are four finance foundation stones needed in order to build a robust high-quality voluntary and community group or organisation. The areas you need to consider are:
- Money planning – known as budgeting
- Money recording – known as book-keeping
- Money rules – known as financial rules and procedures
- Money reporting – known as management accounts
The West Yorkshire Community Accounting Service (WYCAS) has produced a hard-copy guide entitled Money Management for Community Groups, available to voluntary and community groups operating across Wakefield District. This guide will enable you to get to grips with each of the above money management areas, and includes a checklist and a list of further resources that may help you.
To order your copy of Money Management for Community Groups and other Good Practice Guides related to money management complete a WYCAS publication request form. These are available free of charge to any voluntary/community organisation in West Yorkshire.
WYCAS also offers voluntary and community groups in West Yorkshire:
- one to one training and support on financial management/computerised accounts
- annual accounts and independent examination service
- financial management courses
- an infill book-keeping service
- regular newsletter
- advice on financial management issues - call the WYCAS Advice Line from 9 to 5 pm any weekday on 0113 270 6269 or email on info@wycas.org.uk
Visit the WYCAS website to find out more: www.wycas.org.uk
