International projects and the Treasury team

From the The Money Files Blog
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A blog that looks at all aspects of project and program finances from budgets and accounting to getting a pay rise and managing contracts.

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Transcript:

There’s one more time in the Finance department that I want to tell you about. In my last videos, I’ve talked about Accounts Receivable, Accounts Payable and the role of the general accounting team and capital accountants in particular. There’s another team that again, which depending on your project, you may or may not have anything to do with, and again it may be a team of people, but more likely to be one or two people even in a large company, and in a small company it’s likely to be a general finance person who has this as part of their role.

This role is around Treasury and that is essentially to do with bank accounts. So if your company has subsidiary companies or works with partner companies, or wholly owns or partly owns different groups you may find that your project budget comes from various different places and the Treasury team will probably pull all that together.

The Treasury team can also deal with international payments. They will be able to track, if you are making an international payment, what the currency valuation is in your own currency when that hits your bank account. And they can also tell you about any charges you have incurred for making international transactions.

If you are working on an international project, the Treasury team are really useful people to know in case you have these issues with currency or moving money between different bank accounts for different countries.

If you are working on a single currency project, you probably won’t have much to do with them but it is still useful to know who they are and where they are in case you ever need to call on them for your projects.

Posted on: December 04, 2012 01:30 PM | Permalink

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