Thought I'd share an important accounting technique that is very useful when you are running events or residentials!
As you know, you can't make an omelete without cracking eggs (well you could I guess but it'd be very crunchy in parts and too soggy in others) and in the same way you can't run a youth event without spending money! Now in an ideal world, outgoings would equal income, but often it doesn't and PARTICULARLY in youth work.
Yellow Braces (Diocesan Youth Camp) being an example (accounts have just arrived on my desk here) where the difference is £300 in the wrong direction. But this is where my useful accounting technique comes in. Yellow Braces did not make a loss, absolutely not ..... it turned in a negative profit! (How much better does that sound!)
I thought I'd mention it here just in case anyone else managed to make large negative profits in the summer programme!
Education seems to go your way too. It makes all figures that indicate money in the bank as -£ and those spent as £ which means everything looks topsy-turvy. Someone explained it as being a negative against budget and I nodded and smiled ... but so didn't get WHY!!!????
Dave Gunson will sue !