Where can we apply for support?
There are many different support schemes, and separate ones for students, for example Velferdstingets Kulturstyret. The educational institutions also have local support schemes, and there are more regional and national support schemes as well, such as Frifondor Sparebankstiftelsen DNB
Different aims with the support schemes
What they all have in common, is that they support different parts of the activity of student associations. By getting yourself familiarised with the allocation criteria, you can increase your chances of receiving support from them as well. Some support schemes assist the running of an association, others assist (temporary) projects, while others want to assist more lasting investments and needs. See separate overview over different support schemes and other sources of income.
How to set up accounting and budget?
The accounting can be defined as the financial reporting of an association. The reporting should be done regularly and frequently, so that we always have an overview to make good financial considerations.
The budget can be defined as the association’s financial plan. The budget should not only be used for the support schemes to show what you want to apply for, and what you need of money. But the board of the association should also make use of it every now and then, to check if your spending is in accordance with the association’s plans and income.
Accounting- and budget template for student associations.
SiO Associations has prepared an accounting- and budget template for student associations. Download the template here.
PS: We are having some issues with downloadable files in connection with the new websites. Send us an email at foreninger@sio.no
Accounting- and budget template for OSI-associations
Oslo Student Sports Association needs some separate accounting- and budget templates.
Course: Finance for small associations
Course: Finance for small associations
Do you want to become even more confident in the accounting for your association? In this course you will learn how to set up a budget, well-known accounting terms, bookkeeping (to keep record of the accounting), and good routines for the work. Sign up for courses here.
Have you been at one of our courses?
Presentation from the course Finance for small associations
Exercise booklet from the course Finance for small associations w/answer key
What is the double-entry bookkeeping system?
What is the double-entry bookkeeping system?
The whole world uses the same accounting system which is called the double-entry bookkeeping system. This means that all transactions must be kept on two accounts in accounting, debit, and credit.
For example: Purchase of copy paper
If we buy a copy paper box for 500 kroner and pay from our bank account, our bank account will go 500 kroner in negative (credit), while our requisition account will go 500 kroner in positive (debit) in our accounting.
The accounting will be as follows:
Debit Credit
1910 Current account -500,00
6710 Requisition 500,00
How do I use the accounting template?
Are you using SiO’s accounting- and budget template, and you want to make changes? Click on the link to the tutorial below and learn how you can make changes to the names of the accounting accounts in our templates. Link to tutorial for changing, deleting, or adding accounts in the accounting- and budget template.
How to fill out a cash voucher?
If the association has a cash register, the members of the association can pay an expense with the cash of the association. Then you must fill out a cash voucher that has to be attached to the documentation (often receipt) in the accounting book (or uploading as a voucher if the association has a digital archive).
There are two date fields in the form. Date is the day the purchase was made, bookkeeping date is the date the transaction was kept in the accounting. Remember to attach the receipt for the purchase with the cash voucher.
The voucher must be signed by the person who has completed the transaction, and the person who approves (This should not be the same person).
Download the template for cash voucher here.
How to make a card- and bank voucher?
Most associations have a bank account, and some also have a bank card in the name of the association. When you use the bank card, and don’t get a good enough voucher for the transaction, or you have a bank transfer without a good voucher, you can supplement with a card- and bank voucher. You can also use this approach if you are refunding an expense.
There are two date fields in the form. Date is the day the purchase was made, bookkeeping date is the date the transaction was kept in the accounting. Remember to attach the receipt for the purchase with the cash voucher.
The voucher must be signed by the person who has completed the transaction, and the person who approves (This should not be the same person).
How to create an invoice?
It is not a requirement that you must use an invoicing program if you only have to send a single invoice. But if you have multiple invoices, it can be beneficial. Here are some details that an invoice must contain:
- Invoice number and date
- Seller’s name
- Seller’s org.nr
- Description of the service
- Tax rate (VAT) with amount in NOK
Each invoice must have a unique invoice number which is retrieved from a continuous series. The first invoice must have invoice number 1, number two must have invoice number 2, and so on..
Download the example template in excel here.
We are asked for EHF, what do we do?
We are asked for EHF, what do we do?
EHF stands for electronic trading format and is a type of invoice that is sent directly from the sender’s financial- or invoice system, to the recipient’s. This is a safe and quick deliverance of an invoice, as it is read automatically. To be able to send an EHF-invoice, you therefore need to have a system that supports that type of invoice.
The requirements for the invoice are the same. When you send the invoice, you only need to register the organisation number, eventually with some other information the organisation requests, in the invoice program, and then send it from there as an EHF-invoice.
Most invoice programs support this today, so you should rather look at those who are simple, reasonable, and specifically suits your use. Some charge per invoice, while others charge for the service in general.
Are we VAT-obligated?
An organisation is obligated to calculate value added tax when it:
- Runs a commercial activity
- Has a turnover of goods and services where VAT must be calculated
- Has a turnover and taxable withdrawals that exceed 140 000 kroner
Pay tax?
A tax-exempt organisation generally has the same obligations as other employers. Still, when the salary for a gathered payment does not exceed 10 000 kroner for a single person during the year, withholding tax deductions are not to be deducted. Read more on Skatteetaten’s websites.
If you are to pay someone exempt from tax, you can use our form for tax-exempt honorarium.
Do you need an accounting template?
We have prepared multiple accounting templates that can be nice to use as a base for the association. Download and use our accounting templates. They are specifically for student organisations, and they are simple to use. Additionally, if you take our course Finance for small associations, you will get a good introduction to the templates, and feel more confident in the financial work.
Template for setting up accounting (excel)
For OSI-associations: Template for setting up accounting (excel)
For OSI-associations: Template for setting up accounting (excel) – simplified version
Description of how you change, delete and add accounts in the accounting (PDF).