GFGJC CHART OF ACCOUNTS DEFINED

A CHART OF ACCOUNTS IS
 - A COLLECTION OF CATEGORIES USED TO SUMMARISE AND REPORT FINANCIAL INFORMATION


THE PROPOSED CHART OF ACCOUNTS IS PRESENTLY:

ASSETS
ASS-CASH AT BANK
ASS-CABLES
ASS-MICS
ASS-TIES
ASS-MIXERS
ASS-ADAPTORS
ASS-LOCKS
ASS-STORAGE

EXPENSES
EXP-RENT
EXP-SUNDRIES
EXP-FOOD BREAKS
EXP-OTHER
EXP-PROJECT A []
EXP-PROJECT B []
EXP-PROJECT C []
EXP-PROJECT D [] ETC

LIABILITIES
LIA-MEMBERS CAPITAL

REVENUE
REV-MEMBERSHIP
REV-GUESTS
REV-DONATIONS
REV-OTHER
REV-PROJECT A []
REV-PROJECT B []
REV-PROJECT C []
REV-PROJECT D []

			
NOTES (OR EXTRA RULES) TO THE CHART OF ACCOUNTS
 - ARE PARAMETERS THAT HELP AUDITORS UNDERSTAND HOW MONEY IS HANDLED
			
01) NO VOLUNTEERS
02) NO PETTY CASH
03) NO GOVERNMENT GRANTS
04) NO EXTRA CURRICULAR USE OF EQUIPMENT
05) NO REMUNERATION (INVOICING BY MEMBERS TO THE CLUB)
06) NO EXPENSE CLAIMS (UNLESS AN AMOUNT IS ALLOTTED TO A DEBIT CARD AHEAD OF TIME)			
07) ALL TRANSACTIONS REPORTED TO MEMBERS ONLINE WEEKLY (BACKED UP BY A SEPARATE MONTHLY BANK STATEMENT)
08) PURCHASES OVER $300 MUST BE AN AGENDA ITEM AGREED TO BY A MAJORITY VOTE OF ALL MEMBERS PRESENT AT A JAM
09) PURCHASES CAN ONLY BE: RENT; LISTED SUNDRIES, FOOD BREAK SUPPLIES; AND, ENGRAVED OR METAL TAGGED INVENTORY
10) ASSET (CLUB EQUIPMENT) CATEGORIES ARE: CABLES; MICS; TIES; MIXERS; SPEAKERS; ADAPTORS; LOCKS; AND, STORAGE
11) PARTICULAR PROJECTS HAVE MATCHING PREFIXES FOR EXPENSE AND REVENUE TO PROJECT, MONITOR AND REPORT PROFIT AND LOSS