Prepare End of Year Accounts
As soon as is practicable after the end of the accounting year (31st December), the Treasurer shall:
- ensure the accounts are up to date and gather all necessary supporting documentation (bank statements, receipts, payment vouchers, invoices etc). A Balance Sheet should be prepared which shows that the figures balance.
- The balance sheet should show the opening balance and the total income and total expenditure for the year (separated into cash and bank). The opening balance, plus total income, minus total expenditure should equal the closing balance. The balance sheet should also show the bank statement balance at 31st December.