Accounting Basics For Clerks And RFOs (UPDATED 2024)

Jul 11, 20240 likes42 views

Welcome to our comprehensive webinar on local government finance tailored specifically for clerks and Responsible Financial Officers (RFOs). Presented by Hannah Driver, this session covers the essential accounting principles and practices necessary for managing the financial affairs of parish and town councils. Agenda Highlights: 1. Introduction to Local Council Accounting Understanding the role and responsibilities of parish (town) councils. Key considerations: transparency, efficient service provision, precept setting, and reserve management. 2. Responsibilities of the RFO Proper financial procedures and internal controls. Reporting requirements and completion of the AGAR. 3. Choosing the Right Accounting Approach Receipts & Payments vs. Income & Expenditure. Guidelines based on council size and transition requirements. 4. Maintaining Good Financial Procedures Importance of the cashbook and its structure. Regular recording, audit trails, and bank reconciliations. 5. VAT Handling Procedures for VAT registered and non-registered councils. Making Tax Digital (MTD) requirements and VAT claim processes. 6. Year-End Procedures & The AGAR Detailed breakdown of AGAR sections. Completing accounting statements and ensuring compliance. 7. Asset Register & Reserves Management Recording and managing council assets. Types of reserves: General, Earmarked, and Capital Reserves. 8. Helpful Resources & Final Tips Essential guides and support networks for clerks. Importance of regular updates and networking for best practices. Helpful Resources: JPAG Practitioners Guide SLCC, NALC, Local ALCs Facebook Group ‘The Clerks’ Corner’ Find Out More: Visit our website for more details: Scribe Accounts Request a free demo: Free Demo Request Thank you for joining us in this informative session. Stay tuned for more webinars and resources to help you manage your council's finances efficiently. Don't forget to like, share, and subscribe for more content on local government finance and accounting! #LocalGovernment #FinanceWebinar #AccountingBasics #Clerks #RFOs #LocalCouncil #ScribeAccounts #FinancialManagement #VAT #AGAR #AssetRegister #ReservesManagement

Accounting Basics For Clerks And RFOs (UPDATED 2024)

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