Admin Bandit – Making it Easy for Volunteer Treasurers

Many volunteer treasurers long for an easier way to keep up with all of their bookkeeping and reporting requirements, but dread the thought of installing a new software system, and learning how to use it. While any time of year is a great time to consider trying Admin Bandit’s bookkeeping suite, the end of year is an especially great time to give it a try.

Save Time at the End of the Year

Since its fully automated, it can help treasurers reclaim some of their valuable time. The holidays are full of frenzied, last minute activities, so anything that can help you save time is especially beneficial.

Fast and Easy Set Up

What does it take to get started using it? About two minutes. All you need to enter is your NPF’s banking information, unpaid invoices and member details. Once this data has been entered, log back in and you’re ready to go!

Increase Accuracy and Remain in Compliance

Important tasks, such as recording transactions and reconciling statements, are basically done for users using the software’s automated processes. The software also calculates GST and other payments automatically as well, and prompts users about when they need to file reports, and when they are required to be lodged. These features improve the accuracy of your records and helps your NFP to remain in compliance with various reporting rules and regulations.

Protect Your Financial Information and Other Data

Since everything is stored online, in the cloud, you no longer must worry about losing your information to the results of a disaster, such as a flood or fire. It also makes your data more secure and reduces the risk of loss due to physical theft or corruption of your data.

Automatic Updates

Users also never have to worry about their software going out of date, since its automatically updated any time there is a change in the programming. Just login online to ensure that you have the latest version of the software, which is updated any time there is a change in reporting or other requirements.

Historical Data

Once you’re used the software for a while, the system will begin to provide historical reports which makes it easier to identify changes that occur over time. This feature is helpful whether there have been changes to your members list, or in the actual performance of a specific department. Regardless of where change has occurred, you and your board will have a handle on it!

This makes it easier for boards to make more informed decisions that will affect the NFP’s finances, and increases transparency in the decision-making process. Having a bookkeeping system that basically does much of the work for you will also go a long way towards making it easier to recruit your NFP’s next volunteer treasurer!

If you would like to see just how easy the software is to use for yourself, why not sign-up today for a free 55-day trial? 

3 Essential Qualities Every Good Treasurer Must Have

A volunteer treasurer needs to be organised and good with figures. They must ensure they are on top of the situation from the very first day of the job. They should be passionate and motivated. They need to be trustworthy and available when the charity or nonprofit has a query or requires a report. The list is seemingly endless!

On top of these traits, and the many others we could name off the top of our head, there are three other qualities which a treasurer must have in order to make their job easier.

Professionalism

Regardless of how relaxed the organisation is, as a Volunteer Treasurer, it is your job to represent the NFP in a professional manner. Having a solid base of professionalism will make the job simpler, and you never know who may be watching. Remember your volunteer role may lead to other opportunities in the future. Conduct yourself professionally in all situations and show the NFP that you have a solid work ethic regardless of whether it is a paid or volunteer position.

Strength

A Volunteer Treasurer needs to be tough and strong. You should always stick to your guns and follow the rules and policies set in place. If there are no rules, then create them. Establishing solid business practices from the start will hold you in good stead. Financial control policies are there for an excellent reason. They prevent bookkeeping errors and fraud. Don’t let the team walk all over you or ask you to bend their rules just because they don’t like them. Stick to the rules and your colleagues will soon understand that you mean business.

Creativity

If your nonprofit has not embraced modern technology or made any changes in the last ten years, then you may have to put your creative hat on. Just because it has always been done that way, doesn’t mean it has to stay like that. A Volunteer Treasurer’s position involves a lot of responsibility, and often there are systems you can utilise to cut down your hours or improve your overall effectiveness. Look at software options such as Admin Bandit or endeavour to fine-tune those reports so they are more efficient. There are always alternative methods - you just need to find the ones which will assist you to streamline the procedures and save the NFP time and money. Do your research to understand what will fit the needs of the NFP and, of course, yourself.

Good luck!

Free Webinars Can Be A Great Source of Learning

We all need to hone our skills or take in some learning from time to time, and the start of the new year is a perfect time to do that.

As a volunteer treasurer, we understand that your budgets can be tight and opportunities to learn can be difficult to say the least. That is why FREE webinars can be invaluable to your charity or non-profit.

They give you the opportunity to refine your knowledge and keep the dollars available for the more important things.

Here are four great webinars to look out for.

Asking Styles: A Revolutionary Concept in Fundraising - 10 January 2017

There is no one right way to ask a business or individual for a donation. If you ask in your own style, you will be more comfortable and successful as an asker. Are you a rainmaker, a go-getter, a kindred spirit, a mission controller or a mix of two styles? In this webinar you will learn the unique strengths you bring to the table and how to craft your case for support in your own words and style.

Online Fundraising Best Practices for Nonprofits - 11 January 2017

This webinar will share best practices including detailed formulas that every nonprofit should be using to track the effectiveness of their fundraising efforts. You will also learn the 7 steps to online funding success, the donor retention problem and attributes of a killer marketing piece.

Finding New Donors for 2017 - January 18 2017

Did you know that over 75% of funding comes from individuals and that it costs twice as much to find new donors as it does to keep your existing ones. This informative webinar will show you 9 new places to find donors offline, the 4 effective ways of building your email list, the stages of giving to help you steward your donors towards larger gifts and how transparency raises you more money.

Crowdfunding 101 - January 19 2017

Crowdfunding is a new tool in the fundraising toolbox to raise more money, faster, from a larger audience. In this free webinar you will learn why crowdfunding is important for your organisation, how to incorporate it into your existing fundraising mix and the concrete steps you can execute immediately.

Let's make 2017 a wonderful year for your charity and your year as a volunteer treasurer extremely rewarding.

NFP Treasurers' Awards 2016

If you are reading this, there is a good chance you know full well how much time and energy goes into being a treasurer for a volunteer organisation. No one does it for the glory, but instead to offer service and energy to a worthwhile cause or group in their community.

As a token of appreciation for the endless hours and ongoing sacrifices treasurers make to keep organisations 'in business', Our Community and the Commonwealth Bank established the Not-for-Profit Treasurers' Awards.

These awards honour and highlight the work of three treasurers each year who have gone above and beyond the call of duty to ensure “good financial management, good financial governance and good financial outcomes.”

If you or somebody in your team deserves to be recognised for their contribution, be sure to nominate them when the competition opens in February. Consider signing up for the Our Community newsletter, Our Community Matters, to keep up with the initiative.

Celebrating 2015

Well, what a year it has been. It has been choc-o-block full of successes, triumphs and steep learning curves. And dare I say it, we know our charities and ourselves a little bit better than we did at the start.

Were you successful in securing funding for your NFP this year? It is a hard subject to tackle, but when working together with your local community, it can be very rewarding, not to mention beneficial in the long term. Or perhaps you had more luck with one of the available grants valid in your service area?

Many of our treasurers saw an increase in sponsorship which is a great move forward for NFPs and their awareness in the community.

Some of our working volunteer treasurers even had the chance to do some volunteer work outside of their usual treasury role. There are plenty of opportunities for volunteering, particularly around the December period when charities and NFPs are looking for additional hands to help with their Christmas-related projects.

Did you get a chance to look into the Fundraising Management Diploma at all? MTo recap, The Diploma in Fundraising Management is available to both home and international students as a distance learning course and enables participants to develop the knowledge and skills they need to advance in the area of professional fundraising – either working for an NFP or starting their own charity. Perhaps 2016 will finally be the year to take the plunge?

Whatever you will be doing, we hope that next year is, even more, eventful and successful than the last. So from Volunteer Treasurer to you, merry Christmas and a happy new year.

Why Become A Volunteer Treasurer

Traditionally, people who have little or no experience with volunteering consider it an activity in which you give something directly to the community. You can spend time with the elderly, help prepare food for the homeless, take part in the cleaning of a certain public location or work with animals that are in need of a new home. However, not many people realise that volunteering can also include what they are good at – including design and programming, writing, marketing, or accounting and financial processes. In this post, we will discuss why it is a good idea to become a volunteer treasurer and use your skills to help the organisation of your choice.

Feeling Good

Feeling good is arguably the most important reason why people become volunteer treasurers or take any other volunteer role. Knowing that you help someone, even if it is indirectly – through managing a NFP organisation’s finances, will bring you a feeling of satisfaction and true happiness.

Learning Useful Career Skills

If you are planning to work in the field of finance and accounting full time, being a volunteer treasurer can be a great start for your career. You will work in a real financial environment where you can gain useful insight and practical experience and hone your skills, especially if you are new to the field or if you haven’t worked in it for years. There is no better preparation for the financial world than diving in the books of a real organisation and starting to sort out any problems or situations that may occur, while trying to improve its financial processes, triggers and practices.

Making a Difference

Volunteering is all about making a difference, isn’t it? However, in your case you will be making the difference backstage – making sure that all the donations and collections, the available funds and resources and all other money are safe, appropriately allocated, wisely spent and, hopefully, multiplied. The difference you make will be on a different level – you will not be out on site motivating people to donate. Instead, you will make sure the efforts of other volunteers will not go in vain and every cent donated will be spent for the best possible purpose.

Supporting your Cause

Many consider the role of a treasurer or a board member less important and exciting one than the job of the activists of the organisation. However, it is important to remember that every charity needs its treasurer. We could go as far as saying that the treasurer is the backbone of every NFP organisation – without them, the finances would be a mess and the board may not have the financial insight to take future money decisions, including preparing the budget, creating new financial milestones and goals and cutting or expanding on different spending areas.

As you can see, being a volunteer treasurer can be much more useful for the organisation than people tend to think. Moreover, volunteering your time in such a way has a number of benefits for you as well – improving and expanding your skills, adding some valuable records to your CV, making new connections and finding like-minded people. In other words, being a volunteer treasurer is worth it and has a number of advantages for you, the organisation and the community. After knowing all this, you would consider giving it a go, wouldn’t you? 

Coping With Criticism

Criticism is something you can avoid easily by saying nothing, doing nothing, and being nothing.

- Aristotle

Being a volunteer treasurer can be difficult. Not everything to do with your finances is in your control. So how do you cope with criticism when people think you should have done something better or differently?

The natural reaction is to be hurt and angry, but neither of those emotions are positive. They won’t get you anywhere, but you do need to allow yourself time to get the emotions out of your system before you take any sort of action.

A couple of years ago we brought you a post that offered some constructive ideas. Called “Have You Got Critics?’ The post covered 5 steps in the coping process. There is one key point from that post that I’d like to remind you of.

It's about them, not you.

"If you're truly being criticised unfairly, then it's likely the other person has got some background issues that are feeding their maniacal nastiness. Pity them. Life is too short to get wound up by someone else's drama.

May you have many days free of critics, backstabbers, gossips, and other yuckiness! If not, stuff 'em! You're better than all that."

Criticism is the first weapon people call on when they feel challenged by something you’ve done. It might be as small as asking them to explain their expenditure or as large as pushing them to change the accounting processes within the NFP. Either way, the reaction is either defensive or fearful, and the criticism is not really targeting you.

How do you know if the criticism is real?

The answer lies in these 3 steps.

1. Stop and listen to what is being said. Suspend your judgement and hold back your emotions so you can hear without bias.

2. Consider who is speaking. How credible are they? How valid might their point be? Alternatively, is it possible that they have misunderstood what you said, or might need more information to fill in the gaps in their understanding?

3. Consider the outcome of giving in to their criticism. What would change? What project might be halted? Is there an agenda behind the criticism that you need to pay attention to.

When you have thought through each of these steps, you will know if the criticism is valid or if it’s really nothing to do with you. Then you are in the right head space to choose what action you need to take, if any. 

We’ve provided a lot of information for you over the last few posts so we thought it was about time for some humour.

If you’re a volunteer treasurer, you know as well as we do that sometimes you’ve got to laugh or you’ll go crazy.

So here you go. This is for you. We hope it makes you laugh.

At the Zoo

A man was delivering penguins to the zoo when his van broke down on the highway. A fellow stopped to see if he could be of assistance. "Oh, I'm in some real trouble here" said the first man. "I've got to take these penguins to the zoo today, and now I'm not sure I'll get there."

The helpful fellow volunteered to put the penguins in the back of his car and take them to the zoo. 

The man with car trouble gratefully accepted this offer and promised to get to the zoo as soon as possible.

A little later, the man was on the road again and went immediately to the zoo. He looked everywhere but did not see the helpful fellow or any of the penguins. In a panic, he drove back into town. Just as he was wondering what in the world to do next, he saw the "volunteer" walking across the street with all the penguins waddling along behind him.

He ran up and said, "What are you doing here? I thought you were going to take the penguins to the zoo!" and the volunteer replied, "I did, and we had such a good time there, we decided to come into town for ice cream."

Moral: When working with volunteers, clear instructions and good training is always necessary.

Submitted by Sandy Leonard

The Volunteer Quiz

All the specialists analysing the volunteering sector agree on one thing – the main problem why volunteers give up is that they don’t feel engaged in what they do. In other words, different people are apt to doing different volunteering and if you want to keep them with you for longer, you need to find out what may be the best tasks to give them. From outdoor events organisation to office and administration work, you can now easily determine where your volunteers will fit in with the help of the different quizzes suggested in this post.

Quibblo's Volunteering Quiz

This is a great quiz for someone who wants to quickly find out what the perfect volunteer job for them will be. Only 10 very straightforward and clear questions and the volunteer-to-be will know what they will enjoy doing. From there, you just need to place them in the right team and expect amazing results.

United Way's Quiz

This is another great quiz that will help you find more about the volunteering nature of your prospective volunteers. It will tell you if their volunteer style is Active/Hands-on, Social Helper, Artistic/Creative or Technical/Administrative. In addition to this, you will get some ideas about what exactly they can help with – e.g. IT, Coaching, Photography, etc. This quiz is not interactive, so you will have to count how many A, B, C or D answers they have and check out the results table.

8 Quick Quizzes For Volunteers    

              

About 4 years ago, Wild Apricot published a post discussing 8 quizzes for volunteers that were divided into four categories: Learn Your Volunteer Profile, Eco-Volunteers, Career-Oriented Volunteers and Young Volunteers. Bearing in mind that the Internet is constantly changing, you will probably find that some of the quizzes are no longer there, but it is worth checking the post out and seeing what is still available.

Create Your Own Quiz

After you’ve checked out a few volunteer quizzes on the web, you will start seeing a pattern and determine how to estimate the results. Then, you will be able to create your own volunteer quiz and give it to your prospective volunteers showing interest in your organisation. The good thing about creating your own quiz is that you will be able to include questions that are relevant to your organisation and will better exhibit the preferences and abilities of your future volunteers.

Other Quizzes

If you want to see even more ready-made volunteer quizzes, the web is full of them! Just open your favourite search engine and type ‘volunteer quiz’ or ‘quiz for volunteers’ and you will be offered hundreds of quizzes to choose from.

All in all, knowing about all those great volunteer quizzes will hopefully help you with the hard tasks of retaining volunteers within your organisation. So next time you find a new person who wants to try volunteering, ask them to spend a couple of minutes on the quiz you think best matches your and their aims. The results will show you exactly how you can place the volunteer and how to keep them happy and satisfied with their work. Isn't that exactly what your organisation needs?

The Results Of The 2013 Associations Matter Study

The results of the 2013 Associations Matter Study have just been released and they are interesting reading. The survey has found that there is likely to be an increase in demand for professional associations in the near future.

The AuSAE states that “Whilst members still join for networking opportunities and the credibility that membership affords them, the study found that their main reason for joining is for access to relevant information - they are looking to their association to be the leading, authoritative source of news about their profession.

Additionally, the study found that members also want their association to promote their profession to the general public and advocate for qualified, accredited professionals.”

The findings show that members want their association to provide clear leadership and education in their fields.  Up and coming members are looking to gain professional standing and credibility by joining an association.  The collection and dissemination of current knowledge and information is going to be vital to the association’s success.

As a volunteer treasurer, how concerned are you at having professional recognition for what you do?  Would it be tempting to join an association which gave you a form of certification and education?

What sort of education or leadership would you expect from your professional association? 

End of Financial Year - Changing Roles

 

The end of the Financial Year is enough to drive most volunteer treasurers crazy but sometimes it is the time a treasurer chooses to resign from the role.  He or she can resign knowing they’ve completed their year’s end work satisfactorily.

 

While the focus for most committees is getting the financial reports completed on time and dealing with audits, others may also need to look for a replacement treasurer.

Throughout this blog we have shared information which will come in useful at this time.  Here are the posts we think are most important.

First of all, consider your public speaking skills.  Not only will you need them when you present your reports, you’ll need them to help recruit your replacement.  How good are your public speaking skills?

Finding volunteers isn’t easy although most small committees tend to recruit on the spot.  Unfortunately that often means someone is pressured into accepting the role.  You really need someone who is committed to the role so consider scouting for new recruits regularly.  You never know when you might need them and it’s a great way to introduce them to the organisation before they accept a role.  If you know you will be leaving, find your replacement before you go.

Handing over to the new treasurer should not be a complex job.  Arrange to meet with the new treasurer so you can provide an overview of the finances of the organisation as well as to discuss any other issues.

Now, if you happen to be taking over the role and you’ve never been a treasurer before, you will find a lot of useful information on our sister blog at Admin Bandit.  Starting from the very basics, the posts will help you settle into your role and comfortably take control.

Good luck with the end of Financial Year fun!

In The Deep End

It happens all the time, especially in smaller organisations.

The silence is deafening.  Everyone suddenly looks at the floor as though their shoes were the most fascinating things on earth.

Someone ends up volunteering for the role of treasurer simply because no one else will do it.

Great.  The position is filled but soon you realise that the new treasurer has no idea what they are doing.  Even the calculator is a foreign object to your volunteer.

So what do you do?

Don’t panic.  Admin Bandit is your solution.  When it comes to saving committees and their treasurers, you can’t go past the clever online system.



Click to find out more about Admin Bandit.

Handing Over To A New Treasurer

Taking over the role of a treasurer can at first appear a bit daunting and with many challenges but it is not as difficult as what you may think it is.  An important part of taking over the treasurer’s role is to make sure there is a proper handover as this allows you to start off in a positive way.  Arrange to meet with the previous treasurer to get an overview of the finances of the organisation as well as to discuss any other issues.  

At this meeting you should also:

• Get copies of the most recent financial reports that should include the financial statements, annual budgets as well as other supporting documents such as reconciliations and the previous audit report.
• Obtain copies of recent Finance Sub Committee minutes of meetings as well as the documents that are usually prepared and presented by the treasurer at these meetings.
• If you are already a board member you should have a policy and procedure manual that includes the Terms of Reference for the Finance Sub Committee but if you are new to the board then ensure you obtain copies of these documents.  
• If the organisation has accounting software such as Admin Bandit then arrange to receive training or support to use the software.  Also make sure you have your own password and for control and security purposes deleted any previous users.   
• Ideally the organisation will have a detailed financial management and procedures manual that outlines exactly what you need to do as the treasurer.  If so, then take the time to review it but if one doesn’t exist then once you are settled into the role you should prepare this manual.
• The previous treasurer should also hand over the cheque book, receipts book, purchase order books, bank statement, petty cash system and any other relevant information.  
• Make sure you receive any current outstanding accounts that need to be paid as well as details of any contracts such as maintenance agreements, cleaning contracts or any other contractual arrangements.
• Make sure you receive details that relates to income that you may expect to receive.  For example, this may relate to grants, subscription fees or enrolment fees.  
• If your organisation receives grants then make sure you receive the grant documentation so you know when funds will arrive, when acquittals need to be completed and when grant applications need to be made.
• Update the bank account records so you are registered as a signatory.  Also ensure that any old signatories who are no longer authorised are removed from the bank account records. 

Hopefully, once the handover occurs you should be well positioned to take you first steps as a treasurer.  If the previous treasurer is leaving the board then check whether they are willing to assist you if needed and if they are not available then other board members can assist. 

Once you are in the role of treasurer you will find it enjoyable and fulfilling and that you are genuinely making a difference.  

            

New To The Role Of Volunteer Treasurer?

Admin Bandit is software designed specifically for volunteer treasurers, particularly in the not for profit sectors.  Along with the software, Admin Bandit offers support through the many articles posted to the blog.

If you are new to the role of volunteer treasurer or even just learning how to be a member of a committee of management, there is a lot of really useful content available for you.  There is a very useful series of posts beginning with "Now that I am the Treasurer, what do I do?"  These will help you get settled into the role.

Some of the most important information you need before you begin is how to read and understand the financial reports for your organisation.  Starting at the beginning, the post entitled "What is a Financial Report?" explains what it is, why it is important and what the report includes. 

If you find that the books are a mess and you need help to get them sorted out, read the post on how to fix community organisation accounts.

Finance reports are not just a series of figures.  They are accompanied by a written report which explains what the figures are actually telling the committee.  If you are not sure how to read one, let alone prepare the report, you will find out more at "The Written Finance Report".

Keep reading the blog and you will learn about the role of the committee of management, where the Finance Subcommittee fits in and how the policies and procedures of your community organisation affect your role.

Admin Bandit is there to support you with information as well as systems so that you can comfortably handle your role as Volunteer Treasurer.

Westpac Community Treasurers' Award

Being the volunteer treasurer of any organisation requires commitment and dedication.  The role of the treasurer can be very time consuming as often the financial expertise of the organisation comes only from the treasurer. 

The role of the volunteer treasurer can take up a lot of time and usually requires more commitment than just attendance at the regular board meetings.  At the same time the volunteer treasurer knows this and does not seek recognition; they are often more than happy to make the commitment and take pride in the achievements of the organisation. 

Westpac also understands this and has established the 2012 Westpac Community Treasurers' Award to recognise and acknowledge the valuable contribution made by volunteer treasurers to the community.

Awards will be given for treasurers in the three following categories:

·         Small organisations:   For organisations with an annual income of less than $100,000 per annum.

·         Medium organisations:   For organisations with an annual income of between $100,000 and $1 million per annum.

·         Large organisations:   For organisations with an annual income of more than $1 million per annum. 

The winner in each category will win $5,000 for their organisation and a trophy to recognise their achievements, plus $5000 worth of tools and training from Our Community.

Nominations are due by 26 October 2012 and can be made online by following the link to the Our Community website.

Take the time to prepare and send in a nomination for your volunteer treasurer as they are worth it.

How To Encourage People To Volunteer For The Role Of Treasurer

For some committees the end of financial year means that it’s time to find new volunteer members. That isn’t easy but it is even harder when the vacancy is the role of treasurer.

You still have a few weeks up your sleeve so we want to give you a few ideas that you might be able to use to help you in tracking down and gaining your new committee members.

1. Ask people you know.

Have you ever gone up to someone after a meeting and asked why they didn’t put their hand up for the job? “Nobody asked me” is the usual reply, isn’t it? Don’t assume that people know you want them. Tell them. Ask them to join you.

2. Have clear instructions and processes in place.

If you’ve never volunteered before it can be daunting, especially in a role that is as responsible as treasurer. The more organised you are as a committee and the more processes and guidelines you have in place, the better. If you can show the potential volunteer that they will have all the support they need (in writing and from you and the other committee members) it’s more likely that they will take up the role.

3. Campaign and show off!

You’ve worked hard and you’ve had success throughout the year. Not everyone will see what you’ve done. You’re the magic behind the scenes. When you are starting to look for new volunteers, tell people what you’ve achieved and how good it makes you feel. Tell them how rewarding it has been for you. Show the difference that you’ve made. Being able to see the impact of the work often encourages people to get in and help. They can SEE the goal.

You’re probably looking at these tips and thinking that they are too simple and too obvious. Let me ask you, though, when was the last time you actually did any of these things?

They ARE simple techniques which is what makes them easy to overlook, but never underestimate the power of simplicity.

Interview With A Treasurer

We recently spoke to the treasurer of a community group about their role in the organisation and the challenges they face.

1. What do you love about the role of treasurer?

I know that people tend to think of small not-for-profit organisations as casual and with no real budget to worry about. That couldn’t be further from the truth. We are not-for-profit, yes, but we have a budget of hundreds of thousands of dollars to manage. We have all the demands of a regular workplace – salaries, overheads, budget limitations and the lot. You can’t just leave it to anyone to manage the budget. You have to know what you are doing. That’s why I took on the role.

2. What has been the hardest part of your job?

Well, when I first took over this role there was a big mess that I had to clean up. The previous treasurer had done some account fiddling and there was money missing. I had to go back through our financial history and look for irregularities and make sure that we were still financially viable as an organisation.

It was very fiddly and detailed work and even worse, there were a lot of people in the organisation who were quite upset at being duped. They blamed themselves for not keeping an eye on the accounts, too. And they should have.

3. So should the treasurer be accountable to someone?

Of course. For the safety of the individual as much as the safety of the organisation, the finances should never be left to one person to manage. I report to a board of management but even so, they don’t quite understand the accounts fully. Part of my job is to teach them so that they get the whole picture and not just what the treasurer tells them.

4. What would you like to change?

I’d like to change the attitude to the role. Everyone thinks that treasurers have a boring job but really it’s dynamic and involving. It’s strategic, too, not just about counting the numbers. It’s about long term planning so that the organisation can stay in business.

Without good monetary control that goes beyond keeping track of your bills, no committee or organisation will be able to function.

Passing The Buck

When your term of office as a Treasurer comes to an end, there is a simple but clear process for handing over the bookkeeping responsibilities to the new Treasurer.

Firstly, it is imperative that you make sure that all of your financial records are up to date, even if there are monies outstanding or invoices unpaid for some reason. As long as you have it all clearly recorded, the new office bearer can move easily into the role and the financial administration can continue to run smoothly.

Many committees don't remember to have their books audited but it makes sense to have a complete audit before you hand the books over to someone new. You will then have a clear record of the state of the finances at the point of handover. Many accountants will offer their auditing services free of charge if you are a small NFP organisation so make enquiries with your local accounting services.

When you contact the bank to organise for any new signatories to be added to the account, don’t forget to get the necessary paperwork for removing anyone who no longer holds a role as signatory within your organisation. Otherwise you can end up with a long list of people who can move money in and out of the NF’s bank account/s and it can become very difficult to maintain accurate banking records. That can obviously expose you to some risk.

Always hand over every historical financial record to the new Treasurer. Although legally you are only required to keep records for the past seven years, it can be a handy reference tool when it comes to expenses and investments, so it often pays for an NFP to keep them for much longer.

Finally, spend some time with the new treasurer and show them how the system works. Every system is a little different and it is important that they can follow an audit trail if they need to look up an older transaction.

A good handover means a smooth progression for the role so take the time you need together.

Improving financial literacy of community leaders

Responding to the lack of affordable or accessible training courses available to the third sector, Social Ventures Australia, GippsTAFE and Matrix on Board have launched a new online Financial Management training course for community leaders. The new course is an interactive online financial management training course, specifically designed for leaders of non‐profit organisations.

The course will give each participant the resources to understand and prudently manage the financial operations of its organisation: financial statements, GST, audits, budgets through to risk management and much more. It’s perfect for non‐profit leaders who don’t have a background in accounting.

The exclusively online course offers the equivalent content of one full day’s face‐to‐face training. Condensed into two online sessions which include audio instructions, activities and exercises, dynamic tables and illustrations, the course also includes three real‐time tutorials with professional online trainers.

All participants are supported by experts in both technology and finance, ensuring the online learning experience is as accessible as possible.

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Tips for new volunteer treasurers

Petrified or pleased — you’ve just been voted in as a volunteer treasurer at your organisation’s annual general meeting. Whatever you’re feeling, this is your first time and you’re probably wondering, “Now what?”

Well, a little “housekeeping” is your first task. The following three activities are easy, so will help you settle into your new role and build your confidence at the same time.


Arrange a Handover
Schedule coffee with the outgoing treasurer to swap important documents and chat about your role. This includes:

1. Handing over the accounts, cheque books, receipt books, invoices/receipts for purchases, bank statements, budgets, reports and any other relevant documents.
   
2. If your organisation uses accounting software, get a tutorial on how to use it, including passwords.
   
3. Handing over a treasurer’s or financial procedures manual, if your organisation has one. If not, you can create one when you’re more familiar with your role — this will add value to your organisation and future treasurers will breathe a sigh of relief!
   
4. Discuss any unfinished business, such as due bills or income, and any spending commitments or expected income that isn’t in the latest budget.
   
5. Ask questions! This is your chance to discuss any worries, have accounting concepts explained or get trouble-shooting advice. Grab the outgoing treasurer’s contact details for future reference.

Change Bank Signatories
Your organisation probably has a rule that two or three committee members, including yourself as treasurer, must sign, and thus authorise, cheques and bank withdrawal slips. These are called “signatories” and, chances are, you won’t be the only new one — other committee roles probably also changed hands when you were voted in at your annual general meeting. So you need to update your bank’s records of who these people are, which is as simple as picking up a form from any branch and then filling it in. The signatories will probably need to go to the bank with the form and show 100 points of identification too (if they are not already customers of the same bank).

While you’re at the bank, make sure your bank statements are issued monthly and cover the entire month. It sounds strange, but some banks start statements from the date an account was opened, not the beginning of the month. Setting up your statements as we’ve suggested will make doing reconciliations so much easier.

Get Organised
Start as you plan to continue — getting organised now will give you a clear picture of what you’re doing and set the tone for your tenure as treasurer. It will also save many hours of late night hair-tearing and rummaging through a mess of paperwork. Hopefully your predecessor was just as diligent as you’re going to be, which means you can leisurely go through the accounts, checking everything is filed correctly and familiarising yourself with what’s required at the same time. If not … well, hopefully you like filing because you’ve got a bit of work to do!

These tips were extracted from the Volunteer Treasurer Survival Guide and are provided with permission from Admin Bandit.