Monthly financial reports

The monthly financial reports will cover transactions on a period basis starting on the first day and ending on the last day of each reporting period.

The monthly financial reports normaly include:

  1. cash book
  2. budget summary
  3. expenditure summary
  4. bank reconciliations

1. Cash book

Shows the dates, all the cheques in chronological order including cancelled cheques, bank transfers, details of payment, amount of each receipt and payments, running bank balance and extended columns for posting these amounts according to the budget lines

2. Budget summary

Shows how much has been spent and how much is remaining for each budget line item.

3. Expenditure summary     

Within five working days after the end of each month, accounts clerks assigned to specific projects shall submit an expenditure summary to the Accountant who will review them within 48 hours after which the specific Bookkeeper will submit the reports to the programme manager and hold discussions with them to make sure they understand it and also to look at any expenditures that are likely to overrun the budget limit and to look at activities where there has been no or low expenditure which can be an indicator that certain budgeted activities are not being carried out.

4. Bank reconciliations

3 days after the bank statements are received, the accounts clerks assigned to specific projects will finalise the accounts, do the bank reconciliation and submit the bank reconciliations for checking and signing off.