Frequently Asked Questions
What is FINCOM?
FINCOM is short for finance committee. FINCOM started as a grass roots members movement to better understand the finances of the co-operative and to assist where possible in these processes. It reports to the Organising Committee and the Board.
Transactions listed as personal expenses
Transactions will be treated as a personal expense and will need to be repaid to DTE or an explanation provided where
- No tax invoice or receipt provided, a statutory declaration can be provided in the instance a receipt is lost
- Cash withdrawals where no Tax invoice or receipts are provided will be deemed as for personal use
- Clothing/workwear is solely for personal use
- Food for own consumption
- Tobacco or alcohol was purchased
- Repairs to a private vehicle without budget approval
- Tool/s purchase that have not been recorded in the assets list.
- Unapproved travelling costs
- Infringements fines, Including speeding, red light, parking and others
Why if the transaction dates is different to the dates on the receipts?
Your GSheet is a copy of your bank statement, the dates on it are when the bank processed the transaction. Sometimes a supplier can wait days before submitting, especially in rural areas hence the Receipt/TaxInvoice can be different to the date the bank paid.
Do I use Foreign Currency or Australian values in my records?
It is much easier to match on the bookkeeping side when the receipt name has the AUD amount, as that is what comes through on the bank statements and Xero.
Will DTE Pay for tools I lost while on site?
No - DTE Does not replace lost tools automatically. A report is to be supplied to the CC/OC to obtain approval before purchase can be claimed.
What is the difference between Reconciliation and reimbursement?
- Reconciliation
- For items purchased on the card or through cash withdrawn from the card
- Reimbursements
- Items not purchased with Cash from the card or by the card itself
- You are seeking to receive money from items you purchased with your money
Do I send in my originals?
No, We will never ask you to mail or handover the original documents. You may have to present them at a meeting to verify, until then do not let them out of your possession to no-one, not even someone claiming to be from Fincom
Do I send in my digital copies?
Do not send even digital copies to other peoples inboxes thinking the matter is closed. Even when they are from Fincom. Fincom volunteers will ask you to send all receipts when required to This email address is being protected from spambots. You need JavaScript enabled to view it.
How clear do my digital images need to be?
We need to be able to read the numbers on the image so please send us legible images of your receipts
Do I get reminded of my transactions?
Yes every month we remind you if there has been a transaction on your card. This helps you check to see transactions are valid and to help remind you of ones you may have forgotten. The email also contains a link to your dropbox for you to upload your receipts/TaxInvoices
What actually happens with the receipts?
At the end of each month when the last months transactions are sent out, SJ visits each dropbox where new files are oriented and named correctly, extracts the GST, matches the supplier to the transaction and links them.
Then the receipts are coded into departments/budgets etc,by Fincom and passed onto the Bookkeeper who verifies and enters the receipt into Xero.
Once all are entered into Xero the Xero file is handed to the auditor for auditing,
This Data goes into MYOB and produces our annual statements for the AGM
If I have further questions who do i ask?
- For email support - fincom @dte.coop
Usually all email queries are answered if requested in 48 hours
Survey