Outcomes
On successful completion of this section you will be able to competently keep records in an effective manner.
PART 1
KEEPING RECORDS
ATTENDANCE REGISTERS FOR CHILDREN
If you have more than 20 children in your group, prepare the second double page in
The same way as you did the first. The only difference will be that the child at the top of your second double page will get the number "21”
EXAMPLE: ATTENDANCE REGISTER FOR CHILDREN
THE ATTENDANCE REGISTER FOR TEACHERS OR
CAREGIVERS
The Attendance Register for Teachers or Caregivers is set out in the same way as the Children's Register. It will have the same number of columns, and the same dates above each column, but it will not be necessary to spread it out over two pages. The four weeks of the month (plus a day or two) will easily fit on one page if you use the length of the page instead of the width.
EXAMPLE: ATTENDANCE REGISTER FOR TEACHERS/CAREGIVERS
COLLECTING MONEY
There are two types of money collection that might be done:
- School fees and
- Daily collection of monies (e.g. Tuck shop and outings).
EXAMPLE: SCHOOL FEES RECORD (WEEKLY/MONTHLY)
EXAMPLE: DAILY CASH COLLECTION (TUCK SHOP, OUTINGS ETC.)
IMPORTANT:
The Total amount of monies received each day must be entered in the Income and Expenditure Book.
THE INCOME AND EXPENDITURE BOOK & CASH BOX
The Income and Expenditure Book is often called the “cash flow” books because it is the record of the way the cash flows into and out of your cash box.
If you use a small exercise book for this, it can be set out on a double page.
The completed record at the end of the month:
Note: The columns for income and expenditure are approximately the width of a ruler.
Two pages may be needed (if the entries for one month can fit on one page).
The total of fees received each day is entered into the income column.
The fees received each day is entered in the income column (also any money donations, or money received from fundraising efforts etc.) any purchases, or money spent on transport, or fuel (gas, paraffin etc.) should be entered in the expenditure column.
- The date on which money was received or spent is entered into the date column, on the same line as the amount received or spent.
- Never enter two amounts on the same line.
- If you deposit (at the bank) some of the money that is in your cash box (for safety), write this amount in the expenditure column. Write down the date of the deposit, and in the “details” column and write: “withdrawal from the bank” in the details column.
Date, details and amount are always on the same line!
When you have added up each column, write in the totals. Do this in pencil, because you may find at the end of the month that you have made an adding mistake and you can easily correct it.
At the end of the month, you will want to check that the money have left over in your cash box (your balance) is correct. Count the money in your cash box and write down the amount on a piece of paper. Now work out your expenditure in the income and expenditure book. Follow these steps:
Now check that this balance amount is the same as the amount you wrote on the slip of paper after adding the money in your cash box.
If it is not the same, there are a few things you should do to help you find the mistake.
- Add your columns again to check whether they are correct;
- Check your subtraction sum that it is correct;
If you found no mistake so far, but the money in your cash is still not the same as the amount (balance) in your income and expenditure book, it is possible that you got back the incorrect change when you handed out money for something to be bought or paid for.
A SPECIAL REMINDER! One person should be responsible for the money in the cash box - even if people take turns to take this responsibility every month or every term. Receipts must be written and signed whenever you hand out or receive money - even small amounts of money.
EXAMPLE: THE INCOME AND EXPENDITURE BOOK & CASH BOX
THE RECEIPT BOOK & CASH SLIPS
THE RECEIPT BOOK
Receipts must be written and signed (by the person who receives the money) whenever you hand out or receive money – even small amounts of money.
A receipt book is needed for this. Stick-on receipts are usually expensive and so a pen carbon book size A6 (available at Clicks) is a good substitute. This book has pages with a number in the corner. The same number is on the next page. Put a piece of carbon paper between the two pages with the same number before writing the receipt so that you have a copy of each receipt that you write. After writing the receipt, hand the top copy of the person who the money. The bottom copy stays in your book as proof of payment.
NB: Remember to put the piece of carbon paper between the two pages with the same number!
A receipt book with a counter-foil may also be used. (See example). Write the details of the money received on the receipt. Notice that the counterfoil is on the left and is a written copy the details from the receipt on to the counterfoil correctly). The counterfoil stays in your receipt book as a reminder of the receipt.
Details to be written on receipt:
- Date
- Name
- Amount
- This amount of money is for what? (e.g. fees)
- Signature of the person who receives the month
If you are the person who is receiving the money, then the system is as follows:
- Date
- Name
- Name of the person who is giving the money
- This amount of money is for what? (e.g. fees)
- Your signature
If you are the person who is giving the money to someone, then the system is as follows:
- Date
- Name
- Your name
- This amount of money is for what? (e.g. a donation)
- The signature of the person who is receiving the money from you
The Cash Slip
When someone is going to buy food or any item(s) for the preschool group, that person signs a receipt for the money they have taken out of the cash box. But usually this person is not sure how much she will need to pay at the shop for the things she must buy, so she takes more than is needed and she will return the change later, with a cash slip.
A cash slip should be requested when anything is bought. Supermarkets always give a cash slip but smaller shops and vendors must usually be asked for one.
Explain that you are making a purchase for a preschool group. A cash slip can be made out of a small piece of paper on which the amount and date is written next to the name of the shop.
When the cash slip and change is brought back to the preschool group, the Treasurer should written down on the back of the receipt in the receipt book (where it was written when the money was taken) how much was spent on each item (not just the total amount spent and how much change was returned. Change should be checked to avoid mistakes.
IMPORTANT
Only at this point will these amounts be written in the expenditure column of the Income and Expenditure Book.
THE BANK ACCOUNT – STATEMENT OR BOOK
First, arrange a meeting to discuss the finances of your group. Keep minutes of these meeting, record the date and time, who was present and who sent apologies. Discuss and decide on the following matters.
- Do you want a savings or a cheque account?
- If you need to pay salaries and other expenses with a cheque then you wiII need to open a cheque account. A cheque account means that you have to pay for a cheque book and for the bank charges each month (the bank charges for handling your cheques).
- If you choose the cheque account, do you want a bank statement to be sent to the group monthly, every two months or every three months.
- The bank statement will be posted to your address and will tell you what money has been put into and taken out of your account.
- If you choose the savings account, you will receive a bank book which is filled in by the teller each time you go to the bank.
- The bank book is a record of every time you put money into or take money out of your account.
- Who will be the three people from the group selected to have signing power?
- Any two people out of these three must sign together in order to withdraw any money from your account.
The three people who will be signatories should go together to the bank (or building society) to open the account. At the bank or building society, ask at the Information desk for forms. A member of the staff will be willing to help you fill these forms if you need help.
THE MONTHLY STATEMENT
- Look at the example. (The items in your own financial statement will probably be a little different).
- As you can see, the total amount of all the money that was received at the end of the "Income" list.
- And again, the total amount of all the money that was spent is entered at the end of the "Expenditure" list.
- The difference between the two final totals of Income and Expenditure is your balance,
- Your balance is the amount of money that is left over at the end of the month in your cash box and in your bank account.
REMEMBER:
Check carefully to make sure your balance is correct at the end of each month
Let us explain how this works.
At the end of January this group had the following money:
During the month of February:
By the end of February, the money they still had was:
HOW TO WRITE MONTHLY FINANCIAL STATEMENTS:
You will need the following;
- The Bank Statement or Bank Book;
- The Cash Box
- The Income and Expenditure Book
- A pencil and some scrap paper (for rough work!)
THE PROCESS
Look at the Bank Statement or Bank Book (cheque or savings account).
How much money did you have in the bank at the beginning of the month and how much did you have at the end of the month?
Is there any money left in the Cash Box?
If the answer is yes, count the money and write down the amount on scrap paper.
Add this amount to the amount that you have in your Bank Book (cheque or savings account) at the end of the month.
Look at your Income and Expenditure Book
In the Income column you will have several amounts of money entered as “Fees”. Add all these together and write down the total amount of “fees” received; received opposite the words “fees” in your monthly statement.
(Write in pencil on your monthly financial statement in case you make a mistake and have to change some amounts at the end!)
EXAMPLE
You may have received more than one cash donation, so write the total for cash donations down. Or you may have spent money on transport more than once during the month, so write the total amount spent on transport opposite the word on your financial statement.
Likewise, add up all the amounts you may have spent on vegetables, groceries, fruit etc. and write down the total opposite food and refreshments.
You may find you have an amount to write down opposite each of the categories in the same financial statement or you may not.
EXAMPLE
You may not have received any money donations this month, or you may not have spent any money on equipment or transport. In that case just leave a blank opposite donations, equipment and transport.
Maybe you have spent money on something this month which does not fit opposite any of the points on your financial statement (e.g. a new cupboard or some shelving). Write this amount down opposite the word "sundries", but next to “Sundries” write down what the money was spent on. If it was money paid as a deposit or installment, write that down next to the word "sundries"
(If you have a cheque account at the bank, you will need to add this word "Bank Charges" to your list under "Expenditure". and the word "Interest" under "income")
FINALLY:
- Add all your totals under "Income".
- Add all your totals under "Expenditure".
- Subtract the "Expenditure" total from the "Income" total. This amount is your balance.
Your balance should be the same as the amount you get when you add the amount of money you have in your Cash Box to the amount of money you have in the Bank Book at the end of the month.
If the balance will not work out, get someone or two other in your group to help you to check your “sums” and re-count the money in the Cash Box.
What is a Budget?
The budget is a plan for managing the money that is needed for a particular project. The budget deals with the money that is expected to come in (income) against the money that is expected to go out (expenditure).
The budget covers the following:
- The day-to-day costs of running the project such as salaries, food, fuel, toys, maintenance (wear and tear).
- The capital expenses e.g. bit pieces of equipment, a new room for the project.
The budget must be approved by the Management body and individual child minders should discuss their budget with their parent group.
· Think about running costs and capital expenditure
· How much will you need in fees, fundraising and donations if you don’t have a subsidy?
· If you do get a subsidy if DET grant in aid, how much will still be required?
If you get the welfare subsidy from the Provincial Administration, how much will still be required?
MRS. SMITH’S CHILDMINING PROJECT
THE DONATIONS BOOK
The donations book helps you to keep a list of the people who send you donations of any kind or who do something to help your group. Money donations will also be recorded in the Income and Expenditure Book.
A thank you letter written soon after you receive the donation shows the donor that the gift has been received and is appreciated. You can always contact such people again in the future. You might like to send a holiday greeting to such people at the end of the year.
STOCKTAKING BOOK
The Stocktaking Book is a way of keeping track of the equipment in your pre-school project. Make a list of equipment and then check each item each month. Make a note of items that are broken or lost. This information should be shared with your Committee who will help to decide what action is needed.
