Student Group Finance Basics - SGF

Created by Thomas Weller, Modified on Fri, 24 Nov 2023 at 11:17 AM by Sam Baran

finance@swansea-union.co.ukSUSU provides each Student Group with its own private finance account which can be accessed via the Students’ Union website. There are multiple ways to access and use the funds in this account which 

How can I access our group finances? 

The Student Group Finance (SGF) system can be found within your student group's control panel. To access this you'll need to be logged in using your student group account, or your personal account if you've correctly set up your committee. Use the drop-down menu in the top right-hand corner of the screen to log in, and find your control panel. Within your control panel click on the 'Finance' tool. 


From here, committee members can see their bank balance and can submit requests to be reimbursed, to pay suppliers, to generate invoices, and to get advances. 



All requests must then be approved at a committee level, followed by the Sports/Societies officer, and then the finance department. Please note that any committee member can submit a request, but only the President or Treasurer is able to approve requests at a committee level (And you can't approve your own request obviously!).

 

If you have any questions regarding finances you can email finance@swansea-union.co.uk.


How can I find out how much money I have in my Student Group account? 

You can log in to the SGF system to see how much money you have in your account. For a more complete statement showing all the incoming and outgoing money from your account, you can email finance.reception@swansea-union.co.uk. 


Financial information is often confidential and as such, this information can only be shared directly with the student group's email. It can't be sent to personal accounts.


How do I pay for something from the Student Group account? 

A BACS payment can be made on behalf of a Student Group by the Finance Department to pay for invoices by uploading them to the SGF system. Payments to a member to reimburse them for expenses can be made through the SGF system, but the request must be accompanied by a receipt or other suitable evidence of expenditure. A bank transfer may be made to a member in advance when these expenses are over £200 and the request is accompanied by receipts or a relevant invoice. 


All payments through SGF occur via a payment process called BACS. BACS is a three working day payment process, but can take longer. It's important to understand that moving money isn't instant, so always request money and process requests with plenty of notice!


Check out our other articles on request types: 

Paying Invoices

Getting Reimbursed

Advance Payments

How do I put money into the Student Group account? 

In most cases, money should enter your account through either product or ticket on your webpage, or via an invoice if you’ve sold a product or service. If these options are unavailable to you, then you may make a payment to your student group via the following details. 


Bank: Lloyds TSB Bank Plc. 
Account Name: Swansea University Students Union 
Sort Code: 30-98-85 
Account Number: 39386768


You MUST use the Student Group’s name as a payment reference. This will ensure we allocate the payment to the correct group. 

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