News
Get ready for AGAR 2022
AUTHOR: JOHN FAGAN, CHIEF EXECUTIVE OFFICER AT SCRIBE
Need to get your Annual Governance And Accountability Return (AGAR) plan in order? Not sure where to start? Are you dreading April? Donโt worry, we have got your back.
Read on to find out about it.
๐ค Reconcile, reconcile, reconcile
๐๏ธ Cost codes
๐งฎ Variances
๐บ Webinars
โฌ๏ธ Downloads
๐ง๐ฝ Hello to spare time
Year-End doesn't have to be a total nightmare! Simply follow our preparation tips below and complete the checklist. Then you'll be organised, planned and ready to complete everything in a timely, stress-free manner.
We understand that lack of time at Year-End is a real issue for Clerks and RFOs, and you might find yourself working more hours than contracted. You can mitigate this by spreading the workload from January to March by spending a few minutes every week tidying up your data to get it to its most usable state for year-end.
Preparation tips
โโ๐ค Reconcile, reconcile, reconcile
Did I say reconcile? You wonโt believe how many parish and town councils reconcile their bank accounts once a year, and just before year-end! I do not recommend doing this as it can be very time consuming having to trawl through 12 months of emails, documents and correspondence to investigate a discrepancy in your records. Get into the habit of reconciling EVERY MONTH, even if it's only a handful of transactions. You will be thankful you have done it and is key to having a stress free year-end.
๐๏ธ Cost codesโ
Ok, your transactions are in order and kept up to date every month. Now you need to ensure they are assigned to the right AGAR boxes 1-10. This is what the Auditor wants to see.
You need your transactions to be allocated to the correct cost codes for the correct type so that these feed through to the correct boxes on the AGAR.
Example of Cost Codes
- Precept
- Receipt
- Staff costs
- Loan repayment
- Payments
- Assets
- Investments
โ๐งฎ Variances
When you have all your transactions assigned to the correct cost code you will need to have a look at your total values for each box on the AGAR and compare them against the previous tax year.
If the values have changed by more than 15% or ยฃ200 then the auditor will be looking for an explanation of the differences. If your accounting system allows it then please annotate the variances with a suitable explanation.
Want to be even more prepared? You will need to consider your Asset Register, VAT, restatement and more. Come along to these free webinars, to find out more.โ
๐บ Free webinars
The Secret to Mastering Year-End for Town and Parish Council:
- 10 March 2022 โ 11.00 - 12.00 โ Registerโ
Happy Year-Ending With Eleanor The Auditor:
Other webinars that might be of interest, but not related to year-end.
Cemetery โ Top Ten Compliance Tips From An Expert"
- 23 February 2022 10.00 - 11.00 ICCM โ Register
Bullying, Law and Model Councillor Code of Conduct 2020:โ
- Fiona Anthony โ NPLAW โ Watch now
โฌ๏ธ Downloads
Download this super simple Year-End checklist - The checklist that makes year-end straightforward for parish, town and community councils who are completing their Annual Governance And Accountability Return (AGAR).
๐ง๐ฝ Hello to spare time
If you really want to save some time and lots of stress then join Scribe. Our dedicated accounts software, is purpose-built for parish and town councils.
You can use Scribe to:
- Produce your Annual Return
- Claim your VAT back
- Reconcile and report on bank accounts
- Manage and report on budgets
- Save time and wow councillors with its many reports that can be produced in just a click of a button
We have a team of qualified and part qualified accountants, expert trainers and problem solvers. All our calls, emails and messages are responded to within minutes.