Club and group treasurers usually change every year or two. A rushed handover leaves the new treasurer unable to answer "what was this payment for?" in their very first month, and it leaves the outgoing treasurer without a clean finish. Here's what to prepare beforehand and what to check together on the day.
1. What the outgoing treasurer prepares
Money and accounts
- Bank account and cards: account name, signatories, linked debit cards and online banking
- Balance on handover day: a screenshot or statement
- Cash: any cash held, the amount and where it's kept
Changing signatories on a group account usually needs the bank's own forms and often meeting minutes. Ask your bank what it requires well before the handover date.
Records
- Expense spreadsheet: with date, store, amount, category, event and paid-by columns filled in
- Receipt photo folder: matched to spreadsheet rows (see How to name and file receipt photos)
- Dues records: who paid what and when, and who hasn't paid
- Past reports: summaries shared with members
Loose ends
- Money owed to members: amounts people paid out of pocket and haven't been reimbursed for
- Deposits and prepayments: for example a venue deposit for an event that hasn't happened yet
- Recurring payments: anything that leaves the account regularly, with amounts and dates
2. Get the spreadsheet ready
If receipts only exist as photos, turn them into a table with the receipt tool before handing over. The new treasurer can then search a spreadsheet instead of scrolling through hundreds of pictures.
Add a Summary sheet to the file.
| Item | Amount |
|---|---|
| Balance at start of term | 820.00 |
| Money in during term | 3,450.00 |
| Money out during term | 3,112.40 |
| Calculated balance | 1,157.60 |
| Bank balance on handover day | 1,157.60 |
| Difference | 0.00 |
The calculated balance is opening balance + money in − money out. If the difference isn't zero, track down the cause before handing over. It's usually a missing receipt or an unpaid reimbursement.
3. What to check together on the day
Do the handover together, looking at the same screens.
- Check the current bank balance together and compare it with the calculated balance.
- Go through money owed to members line by line and agree who gets paid what, and when.
- Transfer sharing permissions for the spreadsheet and photo folder to the new treasurer, and plan when to remove the outgoing treasurer's edit access.
- Record the date, the balance and both names at the bottom of the Summary sheet.
4. Handle passwords and personal data carefully
- Never post banking passwords or app logins in the group chat. Setting up fresh access for the new treasurer through the bank is safer.
- If dues records include members' phone numbers or bank details, share them only with people who need them.
- Receipt photos may show partial card numbers or members' names.
Summary
A good handover passes on records that explain the balance. Prepare the bank access, expense spreadsheet, receipt photos, dues records and a list of money still owed, then reconcile the balance together and write it down. The new treasurer's first month becomes much easier.