This document is an internal policy of YAPA. Use it to help develop your own agency's internal policies. You will have to make changes to suit your own context and any legal requirements which apply to you.
Policy
Clear processes, authorisation and accountability will govern income received by YAPA. The income will comply with Board, management and legislative requirements.
YAPA receives income from the following main sources:
- Grant income from Government bodies
- Membership & Subscription Fees
- Interest & investment income
- Registration Fees
- Sales - equipment & furniture
- Administration Income from projects
Any changes or increases to the following income sources must be approved by the Executive Officer and Board, prior to implementation:
- Membership & Subscription Fees
- Registration Fees
- Administration Income from project
The Finance & Admin. Manager has ultimate responsibility for the management and accuracy of the Accounts Receivables functions.
Procedure
Invoicing - charges
The Finance & Admin. Manager functions include:
- The generation of Government Grants, Sales and other one-off invoices
- Compliance of GST legislation and ABN rulings
Accounts Receivables functions are performed by the Administration Officer and include:
- Update and maintain Accounts Receivable database, including any changes in contact details or set-up of new debtors.
- Generation of:
- Membership and Subscription fees generated bi-monthly, based on annual renewal.
- Registration fees relating to training/ forums or other activities, generated weekly.
- Sufficient notification to members of any changes in fee structure.
Receipting - collection of monies
Payments are due within terms of payments of each debtor, but the main terms of payment for YAPA are fortnightly or monthly.
Payment of invoices can be made through the following methods:
- Cheque/Cash
- Direct Credit into the Main Operating bank account
The Administration Officer is to inform the Finance & Admin. Manager of unidentified monies, after every avenue of search has been exhausted.
Cash/Cheque
- All payments must be received at YAPA's statewide office.
- Monies are to be receipted by the Administration Officer or Finance Manager in the Sales module or Banking module, whichever is appropriate.
Direct Credit in YAPA's main Bank Account
- The Finance & Admin. Manager is to be advised of customers wishing to pay by direct credit, including invoice being paid.
- All remittance advices are to be on-forwarded to the Finance & Admin. Manager.
- The Finance & Admin. Manager will process payments from the Bank Statement into Sales or Banking module.
Banking of Monies
- All monies received are to be kept in a secure place at all times, to prevent loss or theft.
- The Administration Officer is to record all cheques and cash received on a weekly basis.
- Banking of all monies must be done fortnightly by the Administration Officer.
Refunds & Adjustments
- All refund requests must be in writing and received by the Administration Officer for clarification.
- Refund requests must be approved the Finance & Admin. Manager.
The Finance & Admin. Manager is to process all approved refunds or adjustments in the Financial modules.
Debt Management recovery - overdue accounts
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The Finance & Admin Manager will supply the Administration Officer with an Ageing Details report on a quarterly basis.
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The Administration Officer is to prepare a report outlining actions taken for recouping of monies, including proposed payment date of outstanding amount and monitor its progress.
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The Finance & Admin Manager will review the report and discuss appropriate actions taken, including adjustments with the Administration Officer.
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Bad debts of a substantial amount will be reported to the Executive Officer by the Finance & Admin. Manager.
