Exchequer
UK government accounting process / From Wikipedia, the free encyclopedia
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In the civil service of the United Kingdom, His Majesty's Exchequer,[1] or just the Exchequer, is the accounting process of central government and the government's current account (i.e., money held from taxation and other government revenues) in the Consolidated Fund.[2] The term is used in various financial documents, including the latest departmental and agency annual accounts.[3][4][5][6]
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Historically, it was the name of a British government department[7] responsible for the collection and the management of taxes and revenues, making payments on behalf of the sovereign, and auditing official accounts. It also developed a judicial role along with its accountancy responsibilities and tried legal cases relating to revenue.[8]
Similar offices were later created in Normandy around 1180, in Scotland around 1200 and in Ireland in 1210.[9]