YEAR END 2017 5 6 6 7 HERTFORDSHIRE BUSINESS SERVICES FULLSTOP) 8 8 ACCRUALS 8 Analysis of Accruals 8 Creditors 10 Debtors 10 Prepayments 11 Receipts in Advance 11 11 12 LMSFR4 13 – 14 CFR – – 15 CFR 15 CFR 19 CFR 20 – 21 RM 22 & CFR 23 25 MUST CAPITAL ONLY ACCOUNT UP
HERTFORDSHIRE BUSINESS SERVICES (Now HERTS FULLSTOP) HBS (County Supplies) invoices dated February should only have been paid by the 12th March – this was to ensure they clear the bank account by 31st March 2017. March invoices should be accrued. Transferring Income between schools All transfers must be completed by 12th March to leave time for the receiving school to clear the payment at the bank by 31st March. If you write a cheque to another LA Maintained school, you must post it immediately to comply with the above deadline. If you receive a cheque from another LA Maintained school, you must bank it immediately to ensure the funds clear by 31st March 2017. If a cheque is received from another LA Maintained school and it cannot be cleared by 31st March 2017 it should not be banked and the issuing school should be contacted for the cheque to be cancelled and re-issued in the new year. If there are accruals under this heading, the Year End file will be rejected. ACCRUALS Analysis of Accruals Accruals have to be recorded by category i.e. NHS, Other LAs, Central government. Further analysis of accruals was introduced to enable them to be collated centrally, in order to complete the “whole of government accounts” (UK PLC) in a consistent format in line with all other Local Authorities and public bodies. Accruals fall into 3 categories; Government agencies (analysed in detail) HCC (in certain circumstances see below) entities and individuals (OTHER) …..consequently all accruals must have a prefix. It is important that accruals between Local Government Organisations are recorded in the software using specific pre-fixes. The pre-fixes have been included in the Accruals 2017 spreadsheet. It is important to use the up to date accruals spreadsheet because some of the codes have been changed, deleted or amended. Please refer to the accruals spreadsheet to make yourself aware of those organisations. Some may surprise you! Click on the drop down box under Gov Agency for a list of the top and local agencies. Once the Government Agency has been selected the code will appear in the next column The spreadsheet also contains a more comprehensive list. Please refer to this list if your agency does not appear on the short list.
This information is required in the consolidation of the Hertfordshire County Council accounts Guidance – Who is the end supplier? Accrue Everything on the March Year End Central Billing (BISCUIT) Do Not Accrue any VAT Re-imbursements HCCDD County Supplies/Hertfordshire Business Services (now Herts FullStop) HCCHBS Pre Payments to Cuffley Camp and Hudnall Park for Use Hertfordshire County Council E1920X Pre Payments to Snowdonia Centre (the Old Coach House) Use Hertfordshire County Council E1920X Overtime and casual to be paid to staff You actually owe the employee OTHER Energy Bills You actually owe the gas or electric company OTHER Accruals from the Mouchel (now Kier) statement You actually owe Mouchel (now Kier) OTHER Grounds and Contract Cleaning You actually owe the maintenance companies OTHER Income from Parents for Herts for Learning Ltd OTHER Hertfordshire Catering Ltd OTHER The Accruals form must be used and is available on the grid, at the address Accruals should be as accurate as possible. For example; If there are four quarterly charges posted to the Water budget, you should investigate to see if some of the charges are in advance (which would become a prepayment) and some of the charges are in arrears (which would become a creditor). Further information is provided in the Year-End Guidance Notes from the School Finance Team. Creditors Creditors relate to goods or services for which money is owed to a supplier. This will relate to goods or services received during the financial year but which have not yet paid for, whether or not an invoice has been received. Outstanding purchase orders where goods have been received must be entered as creditors. A creditor must be entered for the Hertfordshire Catering FSM charge for March Debtors Debtors relate to income that was due to the school before 31st 2017 for goods and services but remains outstanding at the year end. A debtor should be raised for guaranteed outstanding income where a trip or swimming took place, for instance, before 31st March 2017.