Each student group has an account when they get ratified. This works through Google Documents, with something called Google Sheets. You can use your google account to track your finances as well as send invoices. You can login to these accounts using the format:
Passwords for your google accounts have been circulated to Presidents and Treasurers. If you’re having trouble logging in, send in a ticket and we’ll get it sorted for you!
On your account, if you go to your Google Drive, you will see a google sheet called Group Name 2020-21. On here, you can see a near-live look at how much money you have coming in and going out. The Account Summary tab will show you an overview of what's in your accounts. The income and expenditure tabs show a more detailed breakdown of what money is coming in and going out.
What are all the different accounts?:
The restricted account is where all membership money is paid into, and is used to cover costs related to the core activities of the group - the bread and butter of what you do. You can transfer funds into this account from other accounts, but funds cannot be moved out unless there is an exceptional circumstance. For example, paying for your coach or instructor, or licence and affiliation costs.
Your social account is for you to use on everything extra outside of your core purpose, such as group socials. You can only spend from this account if it is in credit (so have a check!) and don't forget, you can always fundraise to pop some money back in here.
Some groups also have an ‘other’ account. For sports clubs, the other account is most commonly used as a transport account. Media outlets are most likely to use their other account for compliance costs, whereas societies may use this account for a wide variety of reasons, like a flagship event that occurs each year. If you want to use your other account or if you’re unsure if you actually have one drop us a ticket on Freshdesk and we can help.
Your grant account holds the money you would have received from Student Group Funding. At the moment there are no opportunities for funding, however we will keep you updated if this changes. You can find out more about this in the “Funding your group” training session, the recording of which can be accessed here.
If you are ever having any issues with your accounts, you don't understand them, or you think you have some big spending coming up, please come and talk to us.