01/09/2004 12:54 Treasury Report [Finances]
Ok, so I've finally completed one of my first actions as Treasurer. It took a while to sort out an accounting program, but I think it was worth the wait. I've decided to post here to interpret (even though it should be pretty obvious) the reports. Might be an idea to check your emails where they should be by now.
The first one to look at is the "General Ledger". It just itemises all of the transactions that have been made during the month of August. I've set up equity accounts for all of us, so whoever pays for an item gets credited for it, so we can all work out who owes who at any time (I can/must record payments between each other to get our personal investments correct). The total cost for August is the Grand Total at the bottom of the page, this roughly works out to $166 each, including the cost of the van. Not too bad considering it's only about $50 extra.
The second .pdf to look at is the "Balance Sheet". There is not one for every month, rather, it serves to show where our project stands at the moment, inclusive of all past periods. As you can see, there are two asset categories (at the moment anyway), tools and major. I thought what might be a better idea than splitting certain tools between the people that are going to use them after, is to just list them as assets, so when the project is over, whoever wants to take them, can, and we can just reduce equity, by cost - depreciation. I guess this covers if the tool is damaged during Kombi restoration processes. The only major asset that we hold at the moment is the Kombi, but supposing we buy other major parts as a group (ie. Computer, furniture, sound system etc.), I can add them here, or make their own account (cross that bridge when we get to it). Underneath that is our equity (ie. money we've sunk into this thing). Shitface, don't worry, you've got an equity account, it just has not (ahem) been needed yet. So if we were all to top up/reduce our equity to ~$166, everyone would be even stevens. Don't worry about our current earnings being negative. This is just where all the disposable expenses (fuel, dust-masks, grinder-discs) are put. If anyone thinks I should separate out the accounts better (ie have separate entries for the disposable expenses), just let me know, it only takes a few minutes.
I think that's about it, I was thinking that I might send these out once a month, but Ashley thinks once a fortnight will be better, I think he's also going to set up us (the bomb) a section to post the reports on the website.
Any other problems, go yourselves.