Financial information

Start-up Funds

We're going to give you £200 to get you started in the shop and you'll have to follow normal Student Union rules and regulations for spending it eg get receipts for everything you buy and keep proper financial records about your expenditure. You must spend it in the execution of your business idea and you'll have to pay it back at the end and deduct the amount when working out your profits. (Obviously there is a chance that you might make a loss but we'll brief you on how to deal with this and you'll still have to get receipts and account for expenditure.

Tills and floats
We'll give you a till for your shop. If you would like a float (to put in the till at the start of trading so you can give people change straight away) you will need to collect this from the SU Finance Office the night before.

Selling
We will ask you to keep a written record and/or count of items/services sold during the day so that you can match this written record with the till record. This will also need to form part of your online presentation - see the 'keeping a record' page. As with any business - you should know exactly where all the money has gone.

Cashing up
At the end of the trading day you will need to cash up. The till can print out a record of the days takings and you'll put this together with all the money (including the float) into a special money bag provided by the SU Finance Office. Your team leader will nominate two people to return this money to the Students' Union. We have a nightsafe and we will have a Bar Manager on duty who will be able to access the safe and deposit your takings. SU Finance will deduct your initial float from the takings to give a total amount of money taken during your day of trading.