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Treasurers
> Reporting and Accounting > Receipts and Payments Accounts
RECEIPTS AND PAYMENTS ACCOUNTS
Over £500
million is given each year to PCCs to support their mission and
ministry, and it is important we give account for that which has been
entrusted to us. In other words, in producing an annual report and
accounts, we not only obey the law,
but also fulfil a part of the stewardship which we exercise corporately as a
PCC. This exercise need not be arduous.
Receipts and Payments Accounts
Providing the Gross Income of your PCC is less
than £250,000 you can choose a simpler form of accounting, the "Receipts and Payments" basis. This
focuses on the cash movements in and out of the PCC's bank
accounts during the financial year. If you are looking for
guidance on accruals accounts, click here.
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Click here for
detailed guidance
on preparing Receipts and Payments Accounts. This guidance will
help you produce three of the four reports you will need for your
annual Report and Accounts. (The Trustees Annual Report, the
Receipts and Payments Account, and the Statement of Assets and
Liabilities). |
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The fourth report you
will need is the Independent Examiner's Report. Separate guidance
is produced on developing this. (Click here) |
We have provided an example of a PCC's Annual Report and Accounts,
which is used in the guidance above. (Click here) There
is a corresponding Return of Parish Finance form
which has been completed to demonstrate how the two fit together.
If you have questions, have a look at our Frequently
Asked Questions.
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