FINANCE ADMINISTRATORS AND BURSARS GROUP 12 th November
FINANCE ADMINISTRATORS AND BURSARS GROUP 12 th November 2020 Best Practice
VAT CLAIMS • Submit all VAT claims electronically to shamim. miah@luton. gov. uk • If submitted a claim some time ago and are still waiting for a reimbursement contact Shamim to make sure he has received your claim
MTD • MTD implementation for schools to begin soon • This will change the way we ask you to report
75 CODES • Please use 75 codes for their intended purpose • There are several schools that have coded items to 75 codes that are no longer in use, please check and if you have anything on these codes, move these items to the following codes
75 CODES • 7500 – De-delegated Maternity and Union and Official duties Teachers • 7501 is the same for Non- Teachers
75 CODES • 7502 – De-delegated Licences and Subscription, please use 3959 for licences and 3071 for curriculum subscriptions, administrative subscriptions should be coded to 3701 and school membership subscriptions to 3702
75 CODES • 7503 De-delegated insurance (Site Agent’s house) please code insurance for the site agent’s house to 1900 this code should only be used for RPA insurance charges • 7504 De-delegated Contingencies please code anything on here to 3901
75 CODES • 7505 De-delegated Support for Minority Ethnic pupils, please code anything here to 4073 • 7506 De-delegated Behaviour Support Services, please code anything here to 4073 • 7507 De-delegated Checking FSM Eligibility please code anything on this code to 4085
RECONCILIATION TO THE LA • Please ensure that you are reconciling to the LA on a monthly basis and submitting the reconciliation on completion. • If you are having problems reconciling please ask us for assistance
HCSS UPDATES • Please accept updates from HCSS that affect any change in NI rates and thresholds • NJC increase confirmed a 2. 75% • Teachers’ pay award will be confirmed for LBC in the Model Pay Policy
BANKLINE CHARGES • We will be charging schools for the Bankline service set up through the LA, in January. This will be the 2020/21 charge. (Only schools with Nat. West accounts). • The charge is £ 95 for this year.
COST COMPARISON OF IMMEDIATE AND FUTURE DATED PAYMENTS • Future dated faster payments: • September 153 @ 0. 42 = £ 64. 26 • December 384 @ 0. 42 = £ 161. 28 • Immediate faster payments: • September 194 @ £ 2. 40 = £ 465. 60 • December 9 @ £ 2. 40 = £ 21. 60
COST COMPARISON OF IMMEDIATE AND FUTURE DATED PAYMENTS • Next day payments • September 19 @ 0. 42 = £ 7. 98 • December 75 @ 0. 42 = £ 31. 50 • There were 102 fewer payment made in September but because the majority of those were immediate payments the cost was £ 323. 46 more
QR CARD READERS • Nat. West have introduced a higher level of security for using Bankline – now all users will need a card and reader to access the website • You can use your existing card but will need a QR reader • Please make sure you have at least one new card reader at your school • These can be obtained through us if you need them
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