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Your group's bank account

Each sports club and society has a financial account set up with the Students’ Union. These are part of the larger Students’ Union bank account so they do not have individual sort codes and account numbers. However they are similar to a bank account in that the society can pay money in, we look after it and then it is used to pay invoices and other expenses for your group.

The Students’ Union is a registered charity and all its bodies (including sporst clubs and societies) need to be financially transparent and accountable to the public and appropriate legal authorities. This means you are not allowed to set up an external bank account for your group.

Bank accounts are created for all new groups and will remain active for as long as the group is running. Bank accounts of groups who have not handed over to a new committee and given us their details at the end of the academic year will have their accounts closed and any money leftover put into a holding pot.

Getting an account statement

You can get an account statement from a member of staff in the Activities Centre.

The statement shows all the outgoings and incomings and you’ll be able to monitor what’s coming in and out of the account.

The account system we use is not like online banking - it can take a few weeks for a transaction to show up on the statement as the system only gets updated once a week.

 

Balance screenshot

 

Paying money in

Cash

Cash can be paid in via the Activities Centre and the money will then appear on your statement a few days later. Receipts can be given upon request.

Cheques

If you’re getting someone to pay money in via cheque, it must be addressed correctly in the following format ‘University of Sussex Students’ Union [name of group]’ e.g. University of Sussex Students’ Union History Society’. Cheques can be paid in via the Activities Centre.

Invoices

If you have provided a service to a company and need to give them an invoice, you MUST NOT create one yourself. Only our Finance Manager can create invoices on behalf of sports clubs and societies. If you'd like us to invoice someone for you please contact a member of the Activities Centre team.

Through our website

People can pay for tickets, memberships and products such as t-shirts via our website. The money goes directly into your group's account and it is easy to keep track of who has bought what through the website. Contact a member of the Activities Centre if you'd like us to put things on sale for you.

Bank transfer (BACS)

If you’re getting a company or students to transfer money into your group's account you can do this via bank transfer. We particularly recommend this option if you’re paying in large amounts.

Money is paid into the Union's central account and then our Finance Office team allocate it to the right group's account. This is why it’s REALLY important that your club/society number and the name of your club/society as your reference on the payment otherwise we don't know which group the money belongs to.

Please let a member of the Activities Centre team know if you're going to pay money in via bank transfer so we can check it goes through correctly.