Closing out the month

This is a checklist of things that need to be done before the month is closed out for bookkeeping. By completing all the items on this list, we ensure a more accurate picture of actual income and expenditures -- useful when setting the budget. Sometimes transaction detailss that occur during a given month aren't known until a few weeks later, but in general many of these steps can be completed in the first week or two of the next month.


 * 1) record all checks from checkbook in books
 * 2) check the "Orphan" account for mistakes
 * 3) * Imbalance-USD
 * 4) * Orphan-USD
 * 5) pay bills
 * 6) * record bills that have been paid automatically
 * 7) * write and mail checks for bills that need manual payment
 * 8) ** (get authorization from appropriate committee if bill is at all questionable)
 * 9) pay rent
 * 10) pay health care reimbursements
 * 11) record payroll transactions
 * 12) * regular payroll
 * 13) * substitute payroll
 * 14) * tax withholding
 * 15) retirement
 * 16) * report 403(b) deductions (plus employer matches) to VALIC (online)
 * 17) ** See instructions at How to report retirement plan contributions
 * 18) * write and send check to VALIC
 * 19) record receipts
 * 20) * credit card
 * 21) * reimbursements (from cash box)
 * 22) record daily income reports
 * 23) * credit and debit card transactions for front desk and thrift store
 * 24) * "till total" amounts for front desk and thrift store
 * 25) * daily transfers for front desk and thrift store (from end of shift forms)
 * 26) * miscellaneous transactions (reimbursements, IOUs, money receipts)
 * 27) * corrections (overages and short tills)
 * 28) record deposits
 * 29) record online account transactions
 * 30) * eBay (Serge creates a spreadsheet)
 * 31) * online paypal donations (if any)
 * 32) * initiate a transfer to appropriate bank accounts and have michael finish it by transferring money into savings
 * 33) check A/R accounts
 * 34) * recycling vendors (i.e. Calbag)
 * 35) * tenant sublets
 * 36) check A/P accounts
 * 37) * recycling vendors (i.e. Total Reclaim)
 * 38) reconcile bank accounts
 * 39) * ebay transfer
 * 40) * donations transfer
 * 41) * savings (operating reserve)
 * 42) * main checking
 * 43) reconcile cash box