All full Clubs and Societies have at least two accounts with LUU; a Club/Society Account and a Grant Account. Sports clubs will also have a Kit Account and some societies may have a Ball or Charity Account. If you want to know about the accounts your club or society has then please speak to the Cash Office.
All accounts have a unique code which will be two letters followed by a number (example: XX1). You can find out your account codes via Student Activities or the Cash Office.
Your Club/Society account is the main account for you to pay things in or out of. You can spend money from your club/society account on whatever you choose – providing it is for your club/society and its members. If you receive Give It A Go incentive funding, this will go into this account.
Your Grant Account is the account which will receive any grants/funding paid to your group by LUU (exc. GIAG Funding). This includes: LUU Grants and Sports Funding.
This fund will normally be restricted so you can only spend it on certain things. Ask at the Cash Office for more information as this varies for each Club/Society.
You must use your account for ALL transactions involving your society.
Your accounts have to be auditable; which means that if an external body examined them they would have to be fair and accurate. As such you must pay into your account any money you receive for your group, and pay out all expenditure from your account. We have to be able to trace all money coming into and out of the account, so if you have change left over from a cash advance, you must pay it back into the account.
Part of the agreement of being a Club or Society within Leeds University Union is that your group do not have any external bank accounts. If suspicion is raised that your group have an external bank account, this will be raised with the Student Activities Manager and Activities Exec to decide upon action.