AFRICAN TECHNOLOGY POLICYSTUDIES NETWORK (ATPS)FINANCIAL &ACCOUNTINGPROCEDURESMANUAL+254 020 2714092

https://atpsnet.org/

P.O Box 10081 - 00100,
Nairobi, Kenya

TABLE OF CONTENTS
1.

INTRODUCTION
1.1
1.2
1.3
1.4

2.

THE ORGANISATION
2.1
2.2
2.3

3.

POLICY AND ADMINISTRATIONDONOR GRANTSSURRENDER OF IMPREST.
OTHER RECEIPTS
RESERVE FUND
BANKING OPERATIONSPROCUREMENT
6.1
6.2

7.

POLICY AND ADMINISTRATIONPROCEDURES AND CONTROLRECEIPTS
5.1
5.2
5.3
5.4
5.5
5.6

6.

POLICY AND ADMINISTRATIONACCOUNT CODES STRUCTURE
ACCOUNT CODES MAINTENANCE

PETTY CASH
4.1
4.2

5.

BACKGROUND
THE FINANCE FUNCTION – CURRENT SITUATIONFINANCING

CHART OF ACCOUNTS
3.1
3.2
3.3

4.

AUTHORITYPURPOSE OF THIS MANUALSCOPE AND STRUCTURE OF THE MANUALISSUE, REVISION AND MAINTENANCE

POLICY AND ADMINISTRATIONORDERING AND RECEIVING PROCEDURESPAYMENTS
7.1
7.2
7.3
7.4
7.5
7.6

POLICY AND ADMINISTRATIONISSUE OF IMPREST
SUPPLIER INVOICES AND OTHER DISBURSEMENTSRESEARCH AND DISSEMINATION EXPENSES
EVALUATION AND CONSULTANCY PAYMENTS
GRANT PAYMENTS

1
1
1
1
2
6
6
6
6
7
7
7
8
11
11
11
13
13
14
14
14
15
15
16
16
16
17
17
17
18
19
19
19

8.

STORES
8.1
8.2
8.3

9.

POLICIES AND OBJECTIVESSTORES MAINTENANCE
ISSUE OF ITEMS FROM THE STOREFIXED ASSETS
9.1
9.2
9.3
9.4
9.5

10.

PAYROLL

10.1
10.2
10.3
11.

POLICIES AND OBJECTIVE
PREPARATION PROCEDURESSTATUTORY DEDUCTIONSMONTHLY CLOSING REQUIREMENTS

11.1
11.2
11.3
12.

POLICY AND ADMINISTRATIONJOURNAL ENTRIESBANK RECONCILIATIONFINANCIAL REPORTS

12.1
12.2
12.3
12.4
12.5
13.

POLICY AND ADMINISTRATIONTRIAL BALANCEINCOME AND EXPENDITURE ACCOUNTBALANCE SHEETCASHFLOW STATEMENTBUDGETARY CONTROL

13.1
13.2
14.

POLICY AND ADMINISTRATIONACQUISITIONREPAIRS
DEPRECIATION
DEPRECIATION POLICYBUDGET PREPARATIONMANAGEMENT INFORMATION REPORTS
REPORTING RESPONSIBILITIES AND PAPER TRAILSAPPENDICESAPPENDIX I - CHART OF ACCOUNTSAPPENDIX II – SAMPLE DOCUMENTS

20
20
20
20
22
22
22
23
23
24
25
25
25
26
28
28
28
29
31
31
31
32
33
33
34
34
34
35

LIST OF TABLESFIGURE 1.1 MANUAL AMENDMENT PROPOSAL FORM .......................................................................................... 3
FIGURE 2.2 FINANCE ORGANOGRAM......................................................................................................................... 6
FIGURE 3.1 ACCOUNT CODES MAINTENANCE FORM ............................................................................................ 9

AFRICAN TECHNOLOGY POLICY STUDIES
Financial and Accounting Policies and Procedures Manual

1.

INTRODUCTION

1.1

Authority
This manual has been developed with the assistance of Deloitte & Touche (D&T) andissued by the Board of Directors, of African Technology Policy Studies Network(ATPS) Limited. Compliance with the systems and procedures contained in this manual ismandatory for all ATPS employees.

1.2

Purpose of this ManualThis manual outlines the accounting and financial control procedures and policies of
ATPS. They are designed to ensure:•Lines and levels of authority are clearly defined, communicated and understood.

•

Transactions are correctly recorded in the amount of detail required.

•

The Organisation’s assets and income are accounted for and controlled.

•

The Organisation’s expenditure and liabilities are incurred only when necessary
and in accordance with pre-determined estimates.

1.3

Scope and Structure of the Manual

1.3.1This manual deals with ATPS’s policy, systems, procedures and controls in the entire
accounting function and covers the following areas:• accounting policies, procedures and control,• type and manner of record maintenance, and• reporting requirements.

1.3.2

This manual is divided into sections, sub-sections and sub-sub-sections. The sections deal
with major aspects of the accounting function i.e. chart of accounts, petty cash, receipts,
payments, payroll, accounting for external donor funds, general ledger and financial
reports.

1.3.3

Within each section, there are sub-sections which cover:• ATPS’ policy and administration• Procedures and control

1.3.4

For ease of reference, sub-sub-sections are used.

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1.4

Issue, Revision and Maintenance

1.4.1

The Finance and Administration Manager is responsible for the control and the
distribution of the manual. Any employee who requires a manual submits a written
request to the Finance and Administration Manager who authorises the issue.

1.4.2

The Finance and Administration Manager pre-numbers all copies of this manual insequential order prior to issue and maintains a register of manual holders, which records:•

the number of the manuals issued;•

the name of the holder;•the designation, department and section of the holder;•the date issued; and•the date returned.

1.4.3

Changes to the manual can be initiated by any member of staff, by approaching his/herhead of department. All proposed changes must be submitted to the Finance andAdministration Manager for approval using the Manual Amendment Proposal Form (seeFigure 1.1).

1.4.4

The Finance and Administration Manager will determine whether or not the proposed
amendment should be approved, rejected or deferred. In the latter two cases, a note would
be made on the form, which is then filed.

1.4.5

For approved amendments, the Finance and Administration Manager then implements
the changes and prepares the revised pages for distribution to all copyholders. All
amendments are identified by a unique number printed at the bottom of the revised pages
along with the date of issue and the date of compliance.

1.4.6

On 30th June each year, the Finance and Administration Manager issues a list ofamendments made during the previous twelve months to all copy holders. This enables
manual holders to check that they have an up to date version of the manual.

1.4.7

Any amendments, which the manual holder does not have, must be requested in writingfrom the Finance and Administration Manager immediately.

1.4.8

A manual holder is responsible for keeping the manual in good order, and for updating it
promptly when amendments are issued.

1.4.9

A manual may not be split up and pages distributed to other staff.

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Amendment
SectionSubsection
Paragraph
Reference:__(A)_____(B)______(C)___________________________________________________________________________
Proposed
Amendment

Amendment
Objectives________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

Proposer’s details:

(E)

Name

________________________

Designation ____________________

Dept / Unit________________________

Signature_______________________

Head of Department (F)Signature _________Date:_________

Recommended

Finance and Administration Manager (G)Approved
Deferred
Rejected

Signature _________ Date ________
Amendment No. _______(H)_____

Executive Director (I)Approved
Deferred
Rejected

Signature _________ Date ________FIGURE 1.1 MANUAL AMENDMENT PROPOSAL FORM

sheet 1 of 2

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TITLE OF FORM :MANUAL AMENDMENT FORMCOMPLETED BY :MANUAL HOLDERSPURPOSE OF THE FORM :TO DOCUMENT PROPOSED AMENDMENTS
FOR APPROVAL

KEY

INSTRUCTIONSAEnter the section number of the manual to which the amendment refers.

B

Enter the subsection number of the manual to which the amendment refers.

C

Enter the paragraph number of the manual to which the amendment refers.

D

Write details of proposed amendment and its objectives.

E

Enter details of the person making the proposal.

F

Tick to indicate that proposal is recommended by the Head of Department.

G

Tick to indicate that proposal is approved / deferred / rejected by the
Finance and Administration Manager

H

The Finance and Administration Manager inserts amendment reference number after the
Executive Director’s final approval.

I

The Executive Director ticks to indicate whether approved / deferred / rejected.

FIGURE 1.1: MANUAL AMENDMENT PROPOSAL FORM

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1.4.10 A manual holder may permit parts of the manual to be photocopied (with the express
authority of the Finance and Administration Manager) under the following circumstances:•

Staff training - All photocopies should be collected at the end of the session by
the instructor and returned to the Finance and Administration Manager.

•

for distribution to subordinates who may require any part of the manual to assist
them in their day-to-day duties. The manual holder is responsible for ensuringthat the subordinates are advised of any changes to that section of the manual andfor destroying outdated photocopies.

1.4.11 When a manual holder leaves ATPS, the manual must be returned to the Finance andAdministration Manager. It is the responsibility of the manual holder’s Department
Head to ensure that this is done.

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2.

THE ORGANISATION

2.1

Background

2.1.1

ATPS was established in 1993 as a network of multi-disciplinary researchers from fifteen
countries in sub-Saharan Africa, with a vision to become a centre of excellence andbrokerage between science and technology policy researchers and technology
policymakers and implementers.

2.1.2

International Development Research Centre (IDRC) and Carnegie Corporation of New
York jointly fund ATPS

2.2

The Finance Function – Current Situation

2.2.1

The Finance Department is headed by the Finance and Administration Manager who is
responsible for all the financial, administration and IT issues of ATPS

2.2.2

The structure of the Finance Department is illustrated in Figure 2.2 below:
Finance andAdministration
Manager

Finance
Assistant

Receptionist/
Secretary

FIGURE 2.2 Finance Organogram

2.2.3

The Finance and Administration Manager oversees the overall activities of the Financedepartment and prepares the payroll for ATPS.

2.2.4

The Receptionist/Secretary co-ordinates all petty cash transactions for ATPS including
petty cash disbursements and also serves as the storekeeper for general office supplies.

2.2.5

Currently, ATPS’s Finance department is not computerised.

2.3

Financing

2.3.1

ATPS’s receives funding primarily from donors specifically the International
Development Research Centre (IDRC) and Carnegie Corporation of New York. However,
it is expected that the number of donors will increase in the medium–long term.

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3.

CHART OF ACCOUNTS

3.1

Policy and Administration

3.1.1

It is the policy of ATPS that:• All transactions are classified and recorded in ATPS’s books under the appropriate
categories;• Any changes to the chart of accounts are documented and approved by the Financeand Administration Manager;• There is an up to date list of chart of accounts and their descriptions for reference
purposes; and• There is a regular review of the chart of accounts to ensure that all reporting
requirements are being met.

3.1.2

ATPS’ accounting system is tailored to meet both internal and donor reporting
requirements. Where specified by grant agreement, additional reports will be supplied. Insuch instances, ATPS maintains separate records including:• petty cash book;• bank cash book; and• bank account.

3.1.3

These records also serve as sources of information required for internal decision making.

3.1.4

This section:• gives an overview of the system which makes up the accounting function• describes the rationale behind the chart of accounts• sets out the account codes list, together with their descriptions, and• lays out procedures for opening or amending an account code

3.2

Account Codes Structure

3.2.1

A chart of accounts illustrates the various headings under which a Organisation’stransactions are classified, analysed and recorded. Not only does it create a simple andstraightforward recording of process, but a well-constructed chart of accounts also
provides standard account heads for budgeting and budgetary control purposes.

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3.2.2

The ATPS Accounts codes are 7 digit numeric starting from 0000/000 to 9999/999. The
main classification formats are shown below:

CODE
XX00/000
00XX/000
0000/XXXDESCRIPTION
Cost Centre
Donor
GL Account

3.2.3

The first three digits represent either the General Ledger account code or the relevantbalance sheet entries code. The second level represents a specific category of income or
expenditure code. In some cases, it will refer to the code allocated to a specific grant.

3.2.4

A sample of ATPS’ Chart of Accounts is enclosed in Appendix I.

3.2.5

For reporting purposes, transactions are reported in Kenya Shillings and where they were
undertaken in a different currency, the closing rate method of reporting is used.

3.3

Account Codes Maintenance

3.3.1

Changes to the chart of accounts are processed through the formal procedures described
below. This ensures proper documentation and also maintains an audit trail of any
changes.

3.3.2

After identifying the need for it, any member of staff suggests amendments to, deletion, or
the opening of a new account.

3.3.3

With the current system, account codes may be changed by “exporting” the Chart of
Accounts to Excel, making the changes then importing the worksheet back into Pastel.

3.3.4

The staff member enters his proposal on the Manual Amendment Proposal Form, Figure
1.1. Instructions on how to complete the form are given at the bottom of the form under
the heading “KEY : INSTRUCTIONS”.

3.3.5

The form is submitted to the Finance and Administration Manager who evaluates theneed for the proposed change. The Finance and Administration Manager either
approves, defers, or rejects the proposal. If accepted, the manual is amended according to
the procedures set out in the paragraphs 1.4.3 to 1.4.7.

3.3.6

In addition, the Finance and Administration Manager completes the Account Codes
Maintenance Form. See Figure 3.1.

3.3.7

The Finance and Administration Manager issues an updated accounts code list to all
Accounts staff at the end of the month whenever an account code change is effected.

3.3.8

To match expenditure to the respective donor and grant, cost codes will be used. These
will be standardised so that they can accrue or related expenditure and facilitate both
donor reporting and monitoring of grants. Pastel 5.0 has the relevant features to do thisand assist in tracking expenditure.

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Date: ________________________________________________________________________________
ACCOUNTTYPE
UPDATE
CODE
CATEGORY AND DESCRIPTION
(A)
(B)
(C)
(D)
________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

PREPARED BY APPROVED BY
SIGNED(E)(E)

KEYED IN BY(F)CHECKED BY
(G)

DATE

FIGURE 3.1 ACCOUNT CODES MAINTENANCE FORM

sheet 1 of 2

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TITLE OF FORM :ACCOUNT CODE MAINTENANCE FORMCOMPLETED BY :FINANCE AND ADMINISTRATION MANAGERPURPOSE OF THE FORM :TO DOCUMENT PROPOSAL AND ACCOUNTCODE DETAILS, FOR AMENDMENT OF,
DELETION OF OPENING OF AN ACCOUNTKEYINSTRUCTIONSAThe Finance and Administration Manager enters account code list details.

B

The Finance and Administration Manager indicates whether the account is a balance sheet orincome and expenditure statement item.

C

The Finance and Administration Manager enters the account code category as well as its
description.

D

The Finance and Administration Manager enters the account code update type, i.e. whether
account code categories are being added, deleted or amended

E

The Finance and Administration Manager prepares, signs and dates the form to authenticate thewhole process, and approves for the Accountant to effect the changes in the general ledger.

F

The Accountant, once the ledger system is computerised, effects the changes, signs and dates toconfirm this.

G

The Finance and Administration Manager checks and confirms by signing, that the change has
been effected.

FIGURE 2.1 ACCOUNT CODES MAINTENANCE FORM

Sheet 2 of 2

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4.

PETTY CASH

4.1

Policy and Administration

4.1.1

ATPS’accounting policy with respect to petty cash provides that:• Petty cash is operated on an imprest basis, which amounts to a float of
KES10,000;• Petty cash payments are made only where authority has been given by the
Finance and Administration Manager or the Executive Director in the absenceof the Finance and Administration Manager;• No cheques are cashed by employees out of petty cash; and• Reimbursement is made only after accounting has been done for all petty cash
drawn.

4.1.2

Petty cash is maintained to permit the office to pay minor amounts immediately without
having to apply for a cheque voucher every time a small amount of money is required.

4.1.3

The petty cash is maintained on an imprest system whereby the petty cash holder isadvanced a float of a fund amount, which is always replenished. The total amount spentis accounted for using vouchers and receipts, where possible, but does not exceed the float
amount.

4.1.4

The petty cash holder keeps petty cash securely locked up in the petty cash box at all
times. Petty cash funds should be kept separately from cash received.

4.1.5

Ideally, the petty cash holder should not have access to the accounting records or thechequebook other than the Cash Requisition Forms and the petty cashbooks.

4.1.6

The Petty cashbooks will be reviewed periodically by the Accountant and the Financeand Administration Manager will from time to time conduct surprise cash counts toensure funds are not misused and proper records are maintained.

4.1.7

For the time being, the Secretary of the Finance and Administration Manager is the bestplaced to act as the petty cash holder and disburse payments. However, the Finance andAdministration Manager will at his discretion and with the consent of the Executive
Director, appoint a more suitable person.

4.2

Procedures and Control

4.2.1

For all payments made through the petty cash fund, the petty cash holder prepares a Cash
Requisition Form attaching the invoices, cash sales, e.t.c.

4.2.2

The maximum amount payable from the petty cash fund for a single request is US$ 3,000.

4.2.3

The Finance and Administration Manager checks the Cash Requisition Form toconfirm the accuracy of the details indicated, then signs it as evidence of approval.

4.2.4

The petty cash holder then makes the payment ensuring that the person receiving themoney signs the Cash Requisition Form. The petty cash holder then files in numericalsequence with the supporting documents stamped “PAID”.

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4.2.5

The petty cash holder enters the Cash Requisition Form amount in the petty cash book andanalyses it under the appropriate expense column.

4.2.6

When the fund is utilised to about US$.2,500 a replenishment is requested. The
Accountant makes an analysis of the payments made under the various codes, and thenprepares a cheque voucher and a cheque for the total cash paid out.

4.2.7

The cheque voucher and supporting documents together with the cheque are presented to
the Finance and Administration Manager who will then carry out final checks and sign
his approval on the cheque voucher.

4.2.8

The cheque is signed by the cheque signatories and cashed by the petty cash holder.

4.2.9

The amount paid out is posted to the petty cash book under the “receipts” column together
with other relevant details i.e. date, cheque number, e.t.c., and filed in the respective petty
cash box file.

4.2.10 Finance and Administration Manager will conduct random petty cash counts andcounter sign in the petty cash book where the actual cash balance and the book balance
agree.

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5.

RECEIPTS

5.1

Policy and Administration

5.1.1

ATPS’ bank and receipts policy is that:• All cash transactions involving the bank account are correctly posted to the cashbooks
on a daily basis.
• Bank reconciliations are prepared monthly and reconciling items are followed up andcleared as soon as possible.
• The cash book analysis is sufficiently detailed to enable appropriate analysis ofreceipts.
• Cash is safeguarded at all times.

5.1.2

The following are ATPS’ objectives with regard to cash and receipts:• To have independent accountability of cash handling, which is limited to one specified
individual.
• Cash receipts are properly accounted for and banked intact.
• No loss of funds occurs and, in the event of this happening, controls are in place tominimise the loss.
• Cash flow inputs into the planning and budgeting process are accurate.
• Cash is utilised and managed efficiently and effectively• To meet both internal and donor reporting requirements.

5.1.3

Bank transactions involve receipts and payments. Besides the cashbook, banktransactions affect other balance sheet and income / expenditure accounts.

5.1.4

The procedures documented in this section will be for the recording of both cash andcheque receipts in the Accounting system.

5.1.5

ATPS receipts can be classified into 3 categories:1) Donor Grants2) Surrender of Imprest
3) Other Receipts

5.1.6

This section will document receipts under the above categories.

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5.2

Donor Grants

5.2.1

Receipts from the donors are usually evidenced by bank credit advice and sometimes bycheques.

5.2.2

The Finance and Administration Manager indicates the account codes and authorises
the Accountant to issue a receipt.

5.2.3

The Accountant posts the receipt into the relevant Bank Account. If the grant is to be
expended for longer than a year, it a note “deferred grants” is made in the relevant
account.

5.2.4

The Accountant confirms from the bank statement that the bank has posted the credit
advice amount on to the bank statement, on the date of the advice.

5.2.5

The documents are then filed in the bank reconciliation box file.

5.3

Surrender of Imprest.

5.3.1

Imprests are taken for out-of-town travel. Payments are normally disbursed by chequeand then subsequently accounted for at the end of the journey.

5.3.2

Procedures followed for disbursement of travel imprest are covered in section 6. On
return, the staff member completes the Imprest Accounting Form in which he accounts forthe money spent by attaching receipts.

5.3.3

The Imprest Accounting Form is verified by the Accountant and approved by the
Finance and Administration Manager.

5.3.4

The unspent imprest is surrendered together with the Imprest Accounting Form to the
Accountant who issues a Cash Receipt. The cash receipt is in quadruplicate. The originalis given to the staff member; the first copy sent to the Finance and Administration
Manager, the second copy attached to the Imprest Accounting Form and the book copy
retained by the Accountant.

5.3.5

When the Accountant banks the money, the banking slip obtained from the bank will be
attached to the second copy of the receipt and filed in a hard box file

5.3.6

On receiving the Imprest documents from the Accountant posts the receipts under theheading “travel imprest” in the cashbook.

5.3.7

The documents are then filed in hard box files together with the original documents forapplication of imprest.

5.4

Other Receipts

5.4.1

Other receipts for ATPS will include medical insurance reimbursements, visitor’s
charges, publications, refunds on advances e.t.c.

5.4.2

The Receptionist will forward any cheques received to the Accountant.

5.4.3

The Accountant issues a Cash Receipt. The cash receipt is in quadruplicate. The originalis forwarded to the Receptionist for despatch to the cheque drawer; the first copy
forwarded to the Finance and Administration Manager; the Accountant retains the

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second copy and the book copy.
5.4.4

When the Accountant banks the money, the banking slip obtained from the bank will be
attached to the second copy of the receipt and filed in a box file.

5.4.5

The Accountant posts the receipts under the appropriate column in the cashbook.

5.4.6

The documents are then filed in the bank reconciliation box file.

5.5

Reserve fund5.5.1

A reserve fund will be maintained to cater for periods when there is a reduced inflow offunds and hence ensure that projects currently being undertaken can be sustained.

5.5.2

These funds for the period they are not in use will be invested in government securities orother equally low risk bank investment options. The investment decision will lie with theBoard. However, the Finance Manager will act as the Investment advisor andadministrator of the investments undertaken.

5.6

Banking operations

5.6.1

For the purposes of its transactions and to reduce its foreign exchange risk exposure,
ATPS will maintain two accounts, a US dollar account and a Kenya shilling account.
Donor payments to ATPS shall be made directly to the US dollar account. This is also
intended to facilitate the tracking of payments.

5.6.2 All monies payable to ATPS will be banked latest the next business day.

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6.

PROCUREMENT

6.1

Policy and Administration

6.1.1

ATPS’ policy on purchases is to ensure that all procurement occurs within the stipulated
policies, budget provisions and by tender, where applicable.

6.1.2

The Finance and Administration Manager is responsible for most of the procurementof goods and services that are consumed or utilised by ATPS.

6.2

Ordering and Receiving Procedures

6.2.1

The procurement procedures start with the completion of a Requisition Form being
completed by the user department. The Department Head then approves it.

6.2.2

The level of authority for acquisition will be determined at the beginning of the year andapproved by the Board of Directors. Expenditure approval will be in accordance with theprescribed procurement schedule that will be available from the Finance andAdministration Manager.

6.2.3

For daily use, current price lists for the appointed suppliers should be kept on hand.

6.2.4

A -numbered Local Purchase Order will be raised from the accounting in duplicate. The
original copy goes to the supplier, the duplicate copy to the Finance and Administration
department.

6.2.5

The Local Purchase Order is signed by two of the three official signatories, depending on
the signatory level of authority, and despatched to the supplier.

6.2.6

ATPS’ policy on purchases will be subject to authorisation limits available from the
Finance and Administration Manager upon request. These will agreed upon on anannual basis by the Executive Director and in the case of large amounts, by the Board.

6.2.7

When the goods are delivered, the Receptionist verifies the Delivery Note against theinvoice and the goods with respect to the quantity, price and condition of the goods.

6.2.8

The invoice, Finance Department’s copy of Local Purchase Order and Delivery Note areattached together to enhance preparation of cheque by the Finance department.

6.2.9 Tendering Procedures:

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7.

PAYMENTS

7.1

Policy and Administration

7.1.1

ATPS’ policy on payments are:• Transactions are appropriately authorised and payments are only made on the basis ofapproved supporting documents.
• The cash book analysis is sufficiently detailed to enable appropriate analysis of
payments.
• Payments are made at the appropriate time without incurring financial losses.

7.1.2

ATPS’ objective with regard to payment is to ensure that only necessary and authorised
expenditure is paid for.

7.1.3

ATPS makes payments on demand or due date if the latter is indicated on the invoice.

7.1.4

Bank transactions involve receipts and payments. Besides the cashbook, bank transactions
affect other balance sheet and income/expenditure accounts.

7.1.5

The procedures documented in this section will be for the recording of cheque paymentsin the Accounting system. Payment procedures are the same for all cash transactions,
except for additional procedures in purchases through tendering.

7.1.6

ATPS payments can be classified into 5 categories:1) Issue of Imprest
2) Suppliers’ invoices & other disbursements(a) Management & Technical Expenses(b) Creditors
3) Research & Dissemination Expenses
4) Evaluation & Consultancy Payments5) Grant Payments

7.1.7

The following section will document ATPS payments under the above categories.

7.2

Issue of Imprest

7.2.1

Imprests are taken for out-of-town travel. Payments are normally disbursed by cheque andthen subsequently accounted for at the end of the journey.

7.2.2

Imprest is requested through the Finance and Administration Manager by the requester
completing an Imprest Form.

7.2.3

The Imprest Requisition Form includes estimated costs of fuelling (if using an ATPS
vehicle) and per diems. If an ATPS vehicle is to be used, in addition to the Imprest
Requisition Form, a Transport Requisition Form is completed.

7.2.4

The Finance and Administration Manager signs the Imprest Requisition Form as a signof approval and the documents are forwarded to the Accountant.

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7.2.5

The Accountant prepares a cheque voucher and a cheque after establishing authority
justifying the preparation of the cheque voucher.

7.2.6

The Accountant passes the cheque voucher, cheque and attachments to the Finance andAdministration Manager to authorise for payment after stamping and dating all the
supporting documents with a “PAID” rubber stamp.

7.2.7

The cheque is signed by the cheque signatories and returned to the Finance andAdministration Manager who then passes it to the Accountant for despatch.

7.2.8

The records the cheque in the cheque despatch register in ascending cheque number
sequence before despatching it to the supplier or payee. If the cheque is collected, theperson collecting the cheque writes his/her name and signs.

7.2.9

The Accountant posts the amounts in the and files the supporting documents in the“payments” file according to cashbook and cheque number order.

7.3

Supplier Invoices and Other Disbursements

7.3.1

These include payment for:(a) Management & Technical Expenses(b) Creditors

7.3.2

The Accountant attaches to the supplier invoice, the delivery note and the Local Purchase
Order, where applicable, and checks the invoice for correctness of quantities, price anddelivery. If a supplier statement is available, s/he reconfirms the invoice against it.

7.3.3

The Accountant prepares a cheque voucher and a cheque for each payee after
establishing authority justifying the preparation of the cheque voucher.

7.3.4

The Accountant passes the cheque voucher, cheque and attachments to the Finance andAdministration Manager after authorising for payment after stamping and dating all the
supporting documents with a “PAID” rubber stamp.

7.3.5

The Finance and Administration Manager reviews the invoices to:• confirm agreement with the voucher’s correctness and accuracy• authorise payment by signing the voucher, and• pass them to the Executive Director or another signatory for signing.

7.3.6

Any two of the following signatories signs the cheque voucher and the cheque: Executive
Director, Finance and Administration Manager and any other managerial employee
appointed by the Executive Director.

7.3.7

The signed cheque is returned to the Finance and Administration Manager who thenpasses it to the Accountant for despatch.

7.3.8

The Accountant records the cheque in the cheques despatch register in ascending chequenumber sequence before despatching it to the supplier or payee. If the cheque is collected,
the person collecting the cheque writes his/her name in the register and signs.

7.3.9

The Accountant posts the amounts in the system and files the supporting documents inthe “payments” file according to cashbook and cheque number order.

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7.3.10 Where a cheque is cancelled, the Accountant enters the cheque number in the cashbook
sequentially and the cheque leaf is retained in the chequebook.
7.4

Research and Dissemination Expenses

7.4.1

In the case of research and dissemination expenses, a request for payment will be madewhich will be compared to the budget drawn up at the time of contracting. This budget
will have been reviewed and approved by the Project Manager in advance.

7.4.2

The Finance and Administration Manager will then make out a payment to the respective
researcher or institution with the transaction being posted through the system.

7.5

Evaluation and Consultancy Payments

7.5.1

The Finance and Administration Manager will review contract documents ensuring thatthe terms and conditions of payment are followed. They will also confirm that the invoice
amount agrees with the amount indicated in the contract.

7.5.2

The Finance Director will also have to consult the Program Manager or Research Coordinator to ensure that the services have been delivered or are currently being supplied.

7.5.3

A cheque will then be written to the respective consultant.

7.6

Grant Payments

7.6.1

Payments of grants will be made after the procedures laid out in the Administration
Manual for administration of grants have been followed. Grants will only be payable after
appropriate approval by the Program Manager and after review of the grant agreement.

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8.

STORES

8.1

Policies and Objectives

8.1.1

The stores procedures are aimed to ensure that:•

Materials meant for ATPS are budgeted for and rightfully acquired;•

Materials do not enter or leave the store without appropriate documentation;•

The store is kept under lock and key to prevent unauthorised people from gaining
access.

8.1.2

Items kept in the store are usually stationery and other items for use in the officeenvironment.

8.1.3

Procedures for ordering of stores items are documented in section 6 of this document,
which deals with all procurement procedures. This section will deal only with the stores
maintenance and the issuance of stock items.

8.2

Stores Maintenance

8.2.1

All stock items records are maintained on stock cards, which are kept in trays in thestores. The cards bear details of the item including description, quantities received andgiven out and quantity balance. The Receptionist/Secretary maintains these records andissues all stocks requisitioned.

8.2.2

The Accountant monitors the quantity of stock items and based on experience, places
orders for replenishment when the stock level becomes low.

8.2.3

The store is kept under lock and key and the key maintained by the Accountant. Fixed
hours for issue of stores items are kept, usually on Wednesday afternoon. However, if an
item is required urgently at any other time, the Receptionist will issue it.

8.2.4

The annual stock taking exercise is in December. It is carried out in the presence of the
Accountant. However, the Finance and Administration Manager carries out surprisestock takes.

8.3

Issue of Items From The Store

8.3.1

The requester fills in a Stores Requisition Form indicating the items required and thequantities.

8.3.2

The requester signs the Stores Requisition Form and the Finance and Administration
Manager authorises it.

8.3.3

The Accountant, issues the item, and indicates on the Stores Requisition Form “Quantity
Issued”. He then signs the Stores Requisition Form.

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8.3.4

The requester makes a copy of the Stores Requisition Form and leaves the original with
the Accountant.

8.3.5

The Receptionist updates the stock card for the issued items.

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9.

FIXED ASSETS

9.1

Policy and Administration

9.1.1

ATPS’ objectives in relation to the fixed assets are to:• Place the responsibility to safeguard each asset to a specific member of staff;• Ensure that assets are properly protected against damage;• Maintain proper description and classification to facilitate proper charge fordepreciation;• Maintain adequate and accurate records of an assets repair and maintenance costs toprovide the Organisation with the information for decision making regarding its usage.

9.1.2

The criteria to be used in determining whether an item should be treated as fixed asset or
not includes the following:• The estimated useful life of the asset should span over one year.
• Usage of the asset should be seen to contribute to the operational capability of ATPS.

9.1.3

Acquisitions must be planned for in advance through capital budgets.

9.1.4

The Finance and Administration Manager will organise a physical verification of the
fixed assets. The year-end physical verification must be done in the presence of external
auditors.

9.2

Acquisition

9.2.1

Requisitions for fixed assets are originated from the user departments throughdepartmental heads and submitted to the board for approval.

9.2.2

Once the board approves the purchase, quotations are invited from at least three suppliers.
The tender committee, set up by the Board, selects the supplier with the best offer.

9.2.3

A Local Purchase Order is prepared in triplicate. The white copy is issued to the supplier,yellow copy for Finance and Administration department and pink copy retained as a book
copy.

9.2.4

On receipt of the item, the Finance and Administration Manager verifies the Local
Purchase Order against delivery note and invoice. If there are inconsistencies, a follow-up
is made.

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9.2.5

The invoice, Local Purchase Order and delivery note are attached together and a payment
voucher and a cheque prepared. The voucher and the cheque should be signed by two
signatories.

9.2.6

ATPS should maintain a fixed assets register. After paying for the asset, the accountant
will enter the following information in the fixed asset register:
•
•
•
•
•
•

Type of the asset
Date of purchase
Location
Acquisition cost
Depreciation Rate/Useful life
Date of sale if applicable

9.2.7

Details of the asset of the same type should be entered in a common register especially forthe small items such as calculators, chairs, tables and other items of furniture andequipment.

9.3

Repairs

9.3.1

Repairs will be processed in the same way as other operating expenses. The repairs will
be expensed or capitalised based on the following criteria:•

If the repairs enhance productivity capacity; and•the enhanced productivity benefit more than one accounting period, then the repairs
should be capitalised.

9.4

Depreciation

9.4.1

The accountant will add up depreciation charge for assets in the same category and pass
the following journal entry in the journal book:Dr.

Depreciation costs

xx

Cr.

Provision for depreciation

xx

9.4.2

The journal should then be submitted to the Finance and Administration Manager for
approval.

9.4.3

After posting the depreciation journal entry, the accountant prepares the fixed asset
movement schedule using the fixed assets accounts and their respective provision for
depreciation accounts.

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9.5

Depreciation Policy

9.5.1

Depreciation is computed on the reducing balance basis at the following rates:• Motor vehicles (25%)• Furniture, fittings and office equipment (12.5%)• Computer equipment (30%)

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10.

PAYROLL

10.1

Policies and Objective

10.1.1 The payroll procedures are meant to ensure that:

10.2

•

ATPS’ procedures relating to personnel are adhered to.

•

There is proper authorisation to incur payroll costs.

•

Payroll costs are properly accounted for.

•

Statutory and other deductions are accounted for and remitted within the specified
deadlines.

Preparation Procedures

10.2.1 The payroll is prepared by the Accountant using a computerised payroll system. All
ATPS employees are included in the payroll except for any casual employees.
10.2.2 Salaries are paid through bank transfer.
10.2.3 The payroll shows details about each employee, that is, gross pay, statutory deduction,other deductions and the net pay.
10.2.4 After individual payroll details are completed, a monthly payroll summary analysis isprepared and forwarded to the Finance and Administration Manager .
10.2.5 A sample of the payroll summary is shown below:
Gross pay as per payrollxx

Gross Payxx

Deductions:
P.A.Y.E

xx

N.S.S.F

xx

N.H.I.F

xx

Pensionxx

Other Deductions (to be specified)xx
xx
Net Pay

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10.2.6 The Accountant, after approval of the payroll summary by the Finance andAdministration Manager, prepares a cheque voucher and a cheque for the net pay.
10.2.7 The Accountantprepares cheque vouchers and cheques for the various local authority
deductions as per the payroll summary analysis.
10.2.8 The Accountant passes the cheque voucher, cheque and attachments to the Finance andAdministration Manager to authorise for payment after stamping and dating all the
supporting documents with a “PAID” rubber stamp.
10.2.9 The cheque is signed by the cheque signatories and returned to the Finance andAdministration Manager who despatches it to ATPS’ main bank account. The Financeand Administration Manager attaches to the cheque, a list showing a breakdown ofamounts to be paid to each employee at their respective bank accounts.
10.2.10 The Accountant posts the amounts in the cash book, debiting the gross salary to thesalaries and wages account, and files the supporting documents in the “payments” fileaccording to cash book and cheque number order.
10.3

Statutory Deductions

10.3.1 The statutory deductions should be paid by the due date to avoid penalties. These dates
are as follows:•

P.A.Y.E

9th of the following month•

N.S.S.F

14th•

N.H.I.F

14th““

Pay as You Earn (PAYE)
10.3.2 Deductions are computed according to the specified rates contained in the P.A.Y.E tax
tables provided by the Income Tax Department. The tax obtained should then be reducedby the amount of relief that each individual is entitled to.
10.3.3 A copy of the monthly deductions of PAYE credit slip is lodged in the bank with theamount of the tax. At the end of the year, the Organisation is required to furnish thefollowing details by the 28th of February of the next year:• Taxation deduction card for each employee, showing the tax deducted from his/hersalary by month.
• P.A.Y.E supporting list showing the total tax deducted from employees for the wholeyear.
• Certificate of pay and tax issued to every employee-confirming amount of PAYE thathas been deducted from his/her salary.

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National Social Security Fund (N.S.S.F)
10.3.4 Deductions are computed at 5% of the employee’s basic pay, subject to a maximum
contribution of Kshs. 80 per month. The employer makes a contribution equal to theemployee’s contribution.
National Hospital Insurance Fund (N.H.I.F)
10.3.5 The standard contributions are specified in the tables provided by N.H.I.F. Contributions
are only payable by persons whose incomes are as stated by N.H.I.F. authorities from time
to time. The amount payable ranges between Kshs. 30 and Kshs. 320 per month.
10.3.6 Each employee has a membership card, which is obtained upon application. Each month
the card is stamped for the amount of the member’s contribution. Stamps are obtained
form N.H.I.F.
10.3.7 The N.H.I.F card is retained by the Organisation until year-end, when it is surrendered to
N.H.I.F accompanied by a surrender form. During the year the card may be surrendered to
an individual who becomes hospitalised or when the individual leaves employment.

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11.

MONTHLY CLOSING REQUIREMENTS

11.1

Policy and Administration

11.1.1 ATPS’ policy on monthly closing procedures is that:•

The accounting books are closed and balanced every month;• Bank accounts are reconciled monthly;• Any issues arising from above are cleared up before the end of the following
period as specified.
11.1.2 The procedures described in this section are meant to ensure that:• A systematic approach is followed in effecting period end closing procedures toensure accuracy and completeness.
• Proper period-end cut-off of transactions is effected and adjustments are made forall completed transactions so as to incorporate them in the financial statements.
• That appropriate documentary evidence is created to support all period end
adjustments to enable verification of such amounts.
• The procedures described in this section are applied at the close of the businesson the last day of the period or before the commencement of business in thesubsequent period.
11.1.3 The Accountant makes postings to each account monthly from the books of prime entry
i.e. bank cashbooks, petty cashbooks. Debit entries come from grand totals for receipts in
respective cashbooks and credit entries representing payments grand totals.
11.1.4 Postings to these accounts are done monthly when the cash and petty cashbooks aretotalled, cash journals raised and other ledger postings done. The procedures for these areset out in the following sub-sections.
11.2

Journal Entries

11.2.1 A journal entry is intended for correction of posting errors, adjustments and thosetransactions that do not go through the cashbook.
11.2.2 A Journal entry is made in the journal book whenever any of the above transactions iseffected. The journal entry should give full explanation of the nature of the transaction.
The journal book is then submitted to the Finance and Administration Manager for
approval.
11.2.3 Journal entries are posted by the Accountant immediately after approval. Appropriate
supporting documentation should be filed in a box file to show the necessary workings.
11.2.4 Adjusting and error correction journal entries arise during reconciliation exercises, e.g.
bank and fund control accounts. Bank reconciliation is covered in the next sub-section.
11.2.5 Transactions that do not go through the cashbooks include:

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Financial and Accounting Policies and Procedures Manual• Accruals and month -end (or year-end) provisions• Apportionment of revenue grants• Depreciation
Accruals and provisions
11.2.6 Income and expense accrual and provisions require to be made at the end of the period forincome and expenses expected. The purpose of accruals is to achieve appropriate
matching of grant revenues with related expenses.
11.2.7 Purchases and expenses are accounted for when they are paid. Accruals are required
where supplier invoices are on hand at the end of the period but are still unpaid. These
may also be made when invoices are expected and are not yet received. The purpose of
accruals is to achieve recording of expenses in the correct period.
11.2.8 The Accountant prepares a list of all unpaid suppliers invoices and submits a journal
entry together with the listing to the Finance and Administration Manager for approval
for the total amount.
Revenue Grant Apportionment
11.2.9 Revenue grants require apportionment where the donor provides funding covering morethan one financial period. The purpose of apportionment is to achieve appropriate
matching of grant revenues with related expenses.
11.2.10 Cash received for revenue grants is initially credited to Deferred grants through the
cashbook. At month end, the amount of grants utilised is transferred to Revenue Grants byjournal entries as follows:Dr.

Deferred Grants

XX

Cr.

Revenue Grants

XX

11.2.11 The Finance and Administration Manager will add up depreciation charge for assets inthe same category and pass the following journal entry:

11.3

Dr.

Depreciation costs

xx

Cr.

Provision for depreciationxx

Bank Reconciliation

11.3.1 At the end of each month, the Accountant reconciles the cashbooks against the respective
bank statements
11.3.2 The Accountant:1) Ticks off on each cash book and its bank statement, transaction entries that have beencleared with the bank2) Effects the posting of items that appear on the bank statement but are not yet posted in
the cashbook. This is done by preparing a journal entry in the journal books. The

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Financial and Accounting Policies and Procedures Manualjournal book is submitted to the Finance and Administration Manager who reviews
and authorises the journal entry.
3) Totals up all the cash book columns, with appropriate page “carry forward” and“brought forward” amounts. He does a cross cast for each page. This confirms that the
grand “total amount” agrees with the sum of all the analysis column totals.
4) Identifies the outstanding items i.e. those remaining unticked on both the cashbook aswell as the bank statement.
5) Prepares the reconciliation statement as follows:
Balance as per bank statement
Add:

Less:

xx

Uncleared debits on bank statementxx

Deposits on cashbook not credited by bankxx

Unpresented cheques(xx)

Uncleared credits on bank statement(xx)

Balance as per Cash Book(xx)

The reconciled cash book balance must agree with the bank statement balance,otherwise, any differences are investigated immediately and corrected.
11.3.3 The Finance and Administration Manager reviews the reconciliation statement andinitials the statement to confirm this.
11.3.4 The Finance and Administration Manager follows up on items, which have beenoutstanding on the bank reconciliation statements for more than two months. The same isdone for unusual items appearing on the bank statement but not originating from the
cashbook. All bank statements are retained in a file for future reference. Copies of all
deposit slips are also retained in the same file.

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12.

FINANCIAL REPORTS

12.1

Policy and Administration

12.1.1 ATPS’ policy is aimed at ensuring that:
The Organisation prepares timely

•

•

◊

monthly management reports;◊monthly trial balance;◊

year end financial statements and reports within two months after the year end;
and◊donor reports as and when requiredManagement runs the Organisation efficiently through effective monitoring andcontrol systems.

12.1.2 The reports to be produced and their frequency are as follows:
REPORT TITLEFREQUENCY

Trial Balance

Monthly

Income and Expenditure Statement

Monthly

Balance Sheet

Monthly

Cashflow Statement

Quarterly

Donor reports

As required

12.1.3 Pastel will easily produce Donor Reports if these are designed as some of the desired
output report.
12.1.4 ATPS’financial year runs from January 1 to December 31.
12.2

Trial Balance

12.2.1 To facilitate the extraction of monthly transaction balances, the trial balance schedule has
year-to-date totals for ‘this month’ and ‘last month’. The difference shows theincremental amounts which represent transactions for the current month
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Financial and Accounting Policies and Procedures Manual• correction journals.
12.2.3 The Finance and Administration Manager totals all the debt entries, then all the credit
entries in each account. By calculating the difference between the two totals, obtains themonth’s closing balance for the account.
12.2.4 The Accountant enters the closing balance in pencil in the ledger account, after the lastentry of the month. If the account has a debit closing balance, the pencil entry is made in
the credit column of the ledger. The opposite is done when the closing balance is a credit.
12.2.5 The Accountant prepares the balancing schedule for each control account as follows:a) Prepares a detailed listing schedule of all the subsidiary accounts balances thencalculates a grand total for the schedule.
b) Extracts the control account balance from the spreadsheet;d) Determines the difference between the two accounts, investigates and corrects
any errors identified.
e) Prepares any correction journal entries arising from the control accountbalancing exercise and identifies any accounts with outstanding reconciliationdifferences.
12.2.6 The Accountant then passes the journal entries to the Finance and Administration
Manager.
12.2.7 The Finance and Administration Manager checks and authorises the correction journal
entries and guides the Accountant on further actions to be taken to resolve theoutstanding reconciliation differences.
12.2.8 The Finance and Administration Manager rules off each ledger account and carries theclosing balance forward, which becomes the next month’s opening balance. This is done
before posting any entries for the following month.
12.2.9 The Finance and Administration Manager extracts the closing balances and entersthem in the trial balance schedule. He/she casts the trial balance schedule, establishes
whether the debit column total balances with the credit column total and resolves any
balancing differences.
12.2.10 The Accountant and the Finance and Administration Manager together resolve any
trial balance schedules, which are out of balance and finalise.
12.3

Income and Expenditure Account12.3.1 The income and expenditure account is prepared monthly in the form prescribed for
ATPS’ published accounts while meeting the requirements stipulated in the International
Accounting Standards.

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12.4 Balance Sheet
12.4.1 The balance sheet is prepared monthly in the form prescribed for International
Accounting Standards. The balance sheet should include notes to the financial
statements, including Fixed Assets Summary Movement Schedule.
12.5

Cashflow Statement

12.5.1 This statement is prepared on a quarterly basis and at the end of each year in the form
prescribed by the International Accounting Standards.

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13.

BUDGETARY CONTROL

13.1

Budget Preparation

13.1.1 The annual budget is prepared at the beginning of the year and presented to the Board of
Directors in February or March.
13.1.2 The various department heads prepare individual departmental budgets and submit themto the Finance and Administration Manager for review and consolidation.
13.1.3 The proposed budgets are deliberated in a budget meeting attended by the heads ofdepartment, Finance and Administration Manager and the Executive Director.
13.1.4 The Finance and Administration Manager consolidates the amended departmental
budgets to produce an overall annual ATPS budget. This budget is then submitted todonors after approval by the Board.
13.2

Management Information Reports

13.2.1 At the end of each month, the Accountant prepares monthly budget reports for eachdepartment.
13.2.2 The budget report compares actual results with the budgeted amounts. The variance isindicated and an explanation for difference enclosed under the remark column.
13.2.3 The monthly budget report is presented by the Finance and Administration Manager at
the monthly management meetings, which are attended by the Managers.
13.2.4 The budget reports relating to the branches are later forwarded to the respective branches.

13.3 Auditing
13.4 The Board will appoint auditors whose role will be to give an independent opinion
on the Financial Statements when reporting to the ATPS, Board.

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14.

REPORTING RESPONSIBILITIES AND PAPER TRAILSFinance and Administration Manager
Responsibilities• Controlling the distribution and amendment of the Finance
Policies and Procedures Manual

Documents
Finance Policies and Procedures
Manual•Efficient operation of an imprest petty cash system

Petty Cash vouchers and Petty CashBook•

Ensure adequate cash and cheque receiving controls••

Oversee and co-ordinate purchasing procedures
Approve purchases

Receipts, Bank Deposit Slips, Bank
Statements, Bank Reconciliation
Statements
Purchase requisition, LPO, Cheque•

Authorisation and control of all payments

Imprest Requisition Form, Chequesand Cheque vouchers•

Approval of stock requisitions from the store and fromsuppliers
Surprise stock takes
Ensure proper controls are in place to safeguard the assetsof the institution
Approve purchases of fixed assets
Approve the payroll summary and co-ordinate the paymentof salaries and payroll taxes

Stores Requisition Form,

•
•
•
•

Fixed Assets Register, LPO

Payroll summary, Tax return forms•

Periodic reporting on the financial position of ATPS

Income and Expenditure Statements,
Balance Sheet, Cashflow Statement,
Bank Reconciliation Statement•

Periodic evaluation of financial performance

Budget reports

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Finance Assistant•

Responsibilities
Periodic reviews of Petty Cash Books

Documents
Petty Cash Book, Receipts,•

Documentation of all receipts

Receipts, Cash Book, Bank
Statements•

Banking of cash and cheque deposits

Cash and Cheque Deposit slips,
Imprest Accounting Form•

Documentation of all payments madeImprest Requisition Form, LPO,
Supplier’s Invoice, Delivery Note,
Cash Book••••

Monitoring of stock levels
Places orders for replenishment
Supervision of annual stock take
Maintenance of fixed assets records

Store Ledger Cards, Local Purchase
Order

•

Preparation of payroll documents and of the related tax
documents

Tax Return forms, Payroll Summary•

Preparation of periodic financial reports•

Preparation of budget reports

Income and Expenditure Statement,
Balance Sheet Statement, Cashflow
Statement, Bank Reconciliation
Statement, Trial Balance
Budget reports

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Receptionist/Secretary••

Responsibilities
Disbursement of Petty Cash
Replenishment of Petty Cash

Documents
Petty Cash vouchers and Petty Cash
Book, Receipts•

Issue of office supplies from the stores

Stores Requisition Form, Stock Ledger
Cards

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AFRICAN TECHNOLOGY POLICY STUDIES NETWORKSPAYMENT VOUCHER
A/C

Details

Shs.

Cheque No......................................................A/c...................................................
Prepared by......................................................Checked by.......................................
Designation.......................................................Designation.......................................
Approved by....................................
Designation......................................

CtsAPPENDIX I:ATPS CHART OF ACCOUNTSAPPENDIX I: CHART OF ACCOUNTS
CODE
100/000

DESCRIPTION

TYPE

Expenditure

101/000

Air Fares/Taxes

105/000

Subsistence/Accomodation

110/000

Per Diem

115/000

Other Travel Expenses

120/000

Honoraria

125/000

Equipment Hire

130/000

Photocopying and Binding

135/000

Courier

140/000

Stationery & Supplies

145/000

Hospitaility

150/000

Communication (Tel/Fax)

155/000

Other Expenses (Rapoteur, bank charges)

160/000

Temporary Help

165/000

Editing

170/000

Design & Typesetting

175/000

Printing & Stationery

Exp.
Exp.
Exp.
Exp.
Exp.
Exp.
Exp.
Exp.
Exp.
Exp.
Exp.
Exp.
Exp.
Exp.
Exp.
Exp.
Exp.
Exp.
Exp.
Exp.
Exp.
Exp.
Exp.
Exp.
Exp.
AssetsAssetsAssetsAssetsAssetsAssetsAssetsAssetsAssetsAssetsAssetsAssetsAssetsAssetsAssets
Rev.
Rev.
Rev.
Rev.

180/000

Distribution

185/000

Payroll Accounts (Salaries & Wages)

190/000

Staff Benefits

195/000

Relocation

200/000

Medical205/000

Website updating

210/000

Website hosting

215/000

Employee Salaries & Benefits

500/000

Fixed Assets

501/000

Acc. Depn

505/000

Motor Vehicle

510/000

Accumulated Depreciation- Motor Vehicles

515/000

Computer Equipment

520/000

Accumulated Depreciation- Computer Equipment

525/000

Furniture & Fittings

530/000

Accumulated Depreciation-Furniture535/000

Office Equipment

540/000

Accumulated Depreciation- Office Equipment

600/000

Current Assets

605/000

CitiBank N.A. Ksh Account610/000

CitiBank N.A. USD Account615/000

Petty Cash

620/000

Deposit Account700/000
705/000

Revenue
IDRC

710/000

Carnegie Corporation

715/000

Rockefeller Foundation

720/000

Other Conributions

800/000

Liabilities

900/000

FUNDS

905/000

Donor designated operations Funds

910/000

General Funds

915/000

General Reserves

999/999

Suspense Account

Rev.
Liab.
CapitalCapitalCapitalCapital-APPENDIX II: SAMPLE DOCUMENTS

AFRICAN TECHNOLOGY POLICY STUDIES NETWORKSPETTY CASH VOUCHER

Claimant____________________________________________________________________________________
Date
Account
Particulars
Receipt No.
Amount__________________________________________________________________________________________________________________________________
Amount in words Kshs ____________________________________________________________________Total_________________________________________________________________
Checked byApproved by____________________________

Recipient’s signature
Date paid______________________________

AFRICAN TECHNOLOGY POLICY STUDIES NETWORKSLOCAL PURCHASE ORDER

No. XX

Date------------To ....................................................................................................................................
Please supply the material described below.
Item/service

Checked byApproved by

Quantity

RF No.

Cost

Discount

Net cost

TRUSTED BY

African Technology Policy Studies Network (ATPS)
Contact Executive Director:
executivedirector@atpsnet.org
8th Floor Chancery Building,Valley Road
P. O. Box 10081-00100, Nairobi
Tel: +254 (020) 2714092
www.atpsnet.org