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Paying and receiving
How money is recorded when it arrives and when it is paid out, screen by screen.
When money arrives
Receive money starts with who it came from. Then it asks what kind of money it is: a grant, a donation, interest or something else.
A grant is asked one thing more: may it be spent as the society likes, or only on a set purpose. Money with a purpose goes to its own fund. The books hold it for that purpose until it is spent on it.
A grant won, not yet paid
A grant can be won months before it is paid. Record the award on the Funds page on the day it is won. The books then show the grant as money on its way.
When the money lands, Receive money asks if it pays an award that stands, and settles it.
When money is paid out
Pay money starts with who is being paid and in what role. Then it asks for the receipt total and the tax shown on it, copied from the bill or the receipt, never worked out.
The lines under it say what the money was for, and the lines must add to the total. A line can be marked as a personal part. That part is the person’s own share, and they owe it back.
The tax on a receipt
Tax is copied from the document, as it is shown. If the tax is inside the total and not shown on its own, tick the box that says so. The entry then stands flagged for the accountant, who judges the split.
Tax the society can claim back is worked out from what the buy is used for. It is never part of the cost.
Costs a person fronted
A person may pay a society cost from their own pocket. Record the payment with the money set to come from your own pocket. The books then show the cost as owed back to that person.
The Bills page lists what is owed back, with the pay-back on the same row. Paying yourself back takes a second person: an approval recorded by another director, picked on the same row.