Accounting records
Financial year
All P&Cs should adopt the calendar year as their financial year. This better aligns school and P&C planning and budgeting, and helps consistent parliamentary reporting of financial details.
Accounting Software
P&Cs have historically used cash accounting and recorded their receipts and payments in manual cashbooks. P&Cs may take advantage of a free spreadsheet application (new window) 902k 
(with user manual) or available from your community participation officer.
This manual uses the free spreadsheet application to show examples of the various processes and reporting required. However, handwritten cashbooks are also acceptable.
It is increasingly common for P&Cs to use commercially available accounting software. These packages may operate on cash accounting or accrual accounting depending on how transactions are processed.
If your P&C decides to use accounting software (such as MYOB or Quicken TM ) the format of reports generated by these applications will be acceptable for reporting purposes.
If your P&C has registered for GST, it is recommended that a commercial accounting package is used.
The decision to use the free spreadsheet or an accounting software package is a decision for the executive of each P&C. If you do decide to use accounting software, consider the following points:
- the size and complexity of your P&C's operations
- level of knowledge and expertise of executive members, especially the treasurer
- the likely expertise of future holders of executive positions
- access to computers with adequate hardware
- availability of suitable training
- security
- ease of regular backup of computer files.
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