Completing your Monthly Income & Expense Reports
The first step in completing your report is to gather evidence of your income and expenses. You will need all paystubs and any receipts you have collected. You may find it helpful to login to your banking app, and review your online statement. It’s also handy to have a calculator close by.
Begin by completing the top section of your monthly form. Don’t forget to include your name! You may find some of this information is already printed on your form. If you have had a change in your situation, such as marriage or birth of children, please be sure to let us know. Feel free to make notes in the margin if needed.
Step 3 is to total your net income, and the income of those in your household. If you aren’t sure who to include, please contact your Trustee. Your Trustee will require evidence of employment income, such as paystubs. For income that is automatically deposited, such as Child Tax benefit, a screenshot or bank statement will generally suffice.
The top right section of the form contains ‘non-discretionary’ expenses. These expenses will impact your calculation of surplus income due, and are important to track accurately. For expenses where you will be partially reimbursed such as medical, only include the amount which you will not be reimbursed. You will need to submit these receipts to your Trustee.
The bottom section of the form is a summary of all other expenses in the month. If you have an expense for which there is not a line, feel free to cross off a line you don’t need, and write in the name of your expense. Your Trustee does not require you to submit these receipts, but can ask to see them, so be sure to have them available. Don’t forget to sign and date the form!
You are now ready to submit your form. Don’t forget to include copies of paystubs, screenshots of automatically deposited benefits, and receipts for any non-discretionary expenses. Your form can be submitted electronically by any of the means listed above, or by mail if you prefer. DO not submit receipts for expenses listed in the bottom half of the form, unless your Trustee requests them.
Remember, your forms are to be submitted in the 10 days following the end of the month. For example, if you are completing a form for the month of April, it must be received by our office on or before May 10th. If you have any questions, visit us at C. Buhler & Associates Ltd..