Using Money Hub

The Student Groups Money Hub system, was set up as a result of requests from students for Us to help manage their finances and to aid in the handover of committee details, where bank details often got lost and money can be inaccessible while it is sorted out.

 

While the Students' Union is not a ‘bank’, we can offer some support for groups in terms of holding their money and ensuring that there is minimal confusion during handover at what is a crucial time for our groups.

 

For more information on how to access this support please email activities@susu.org

 

Once you have confirmation of your account being set up you can transfer your balance from your existing bank account by using these details.

How to become a Finance Signatory

 

We expect every group to have three authorised signatories on their accounts in order to access their accounts.  We recommend that the following positions are made signatories:

• President
• Treasurer
• Vice President/Secretary

 

In order for you to become a signatory for your groups account and to access your funds.  You must complete this form. 

https://www.susu.org/uploads/groupadmin/Authorised Signatory - Form.pdf

Please note that we cannot accept this form via email.

 

This must be printed, signed and then bought to the Activities Office (Level 2 –Building 42) alongside some photo ID.  This can be in the form of:

• Passport
• Driver’s license
• University ID card.

We only need to see the ID of the person dropping off the form to us

Once we have processed your signature you will have access to your account

How to View Your Balance

 

There are two different accounts views available for your group, via your unionsouthampton.org hub and these are detailed below

 

1. Members of Money Hub

You can access your groups balance for all transactions online by visiting www.susu.org/groups/admin and then selecting the Finance options for the relevant group.  This will show the all transactions for your group (from the time you started managing your money with us) both ingoing and outgoing money.  This will show much as a bank statement would.

 

2. Non-members of Money Hub

You have a more limited view as we do not hold your groups funds. The only information available are transactions between the Students' Union and your group.

This means you can view Invoices that have been raised against your group and whether they have been paid or not, as well as view the status of any payments to come from the Union to your group. (Funding, memberships via the Box Office etc.)

Withdrawing cash

 

This form helps you understand the process of dispensing cash from the cash machine.

https://www.susu.org/uploads/groupadmin/How To - Dispense Cash.docx

 

Depositing cash

 

The link below will help you understand the process of depositing cash using the cash machine.

 

You are able to access the cash machine at any time when Us is open as it is an automatic machine.  We do suggest that all money should be deposited during office hours for safety reasons and so we are able to offer the fullest support in using the machine.

A contact number for during and out of office hours is available in the cash machine room.

 

https://www.susu.org/uploads/groupadmin/How To - Deposit Cash.docx

 

Paying a supplier

 

This form should be used to claim money or to pay invoices.

https://www.susu.org/uploads/groupadmin/How To - Complete Expenditure Claim Form.xls

 This is usually a far safer and reliable way of conducting business than in cash.

 

Below you can find a brief guide of how to complete this form.

Once completed, you can hand these forms into Activities Office (level 2, building 42).

1. Enter the date on the invoice or date the expenditure was made if it’s a receipt

2. Supplier that needs to be paid (Name/Company on the invoice)

3. Brief description of expenditure

This will appear on your statement and should be kept short, but descriptive.

4. Group cost centre

You will have received this when your group joined the money management scheme and it will be three digits

5. Detail codes highlighted in pink

6. Total of invoice or amount spent

Your group is unlikely to be tax-exempt this means you should include all relevant taxes in your total

7. How the payment is to be made – either select Cheque or BACS

BACS = Bank Transfer (this is a faster method of paying and we recommend this unless a cheque is specifically required)  Please note that BACS payments are only made twice a month, on 15th and final working day.

8. Who the payment is to be made to (Name/Company on the invoice)

9. Signature of Committee Member 1 and the date it is signed (this must be a named signatory)

10. Signature of Committee Member 2 and the date it is signed (this must be a named signatory)