Closing out the month - Revision history

MichaelWestwind: /* Basics of catching up on the books */

2013-12-14T01:55:13Z

Basics of catching up on the books

MichaelWestwind: /* Basics of catching up on the books */

2013-12-14T01:54:10Z

Basics of catching up on the books

MichaelWestwind: /* Basics of catching up on the books */

2013-12-14T01:49:19Z

Basics of catching up on the books

MichaelWestwind: /* Basics of catching up on the books */

2013-12-13T01:40:54Z

Basics of catching up on the books

MichaelWestwind at 20:20, 6 September 2013

2013-09-06T20:20:31Z

Rfs: /* End of the Month Review Process */

2013-08-15T19:08:16Z

End of the Month Review Process

Rfs: /* End of the Month Review Process */

2013-08-15T15:59:03Z

End of the Month Review Process

Rfs: /* Basics of catching up on the books */

2013-08-15T15:25:25Z

Basics of catching up on the books

Rfs: /* Basics of catching up on the books */

2013-08-15T15:24:41Z

Basics of catching up on the books

Rfs: /* Adjusting Entries */

2013-08-15T15:24:04Z

Adjusting Entries

@@ Line 16: / Line 16: @@
 #::* Note:  There are 4 separate water accounts and changing the credit card requires changing each of those accounts separately.
 #::Kaiser
-#::Paychex
+#::GNSA
 #::...
 #* Bills that need to be manually paid online
@@ Line 38: / Line 38: @@
 #** remember that certain employees get holiday pay so if the pp includes a holiday that category will need to be split differently.
 #** divide payroll tax expense as well.  If the staff categories have different ratios of work days, then create a new ratio from the total payroll expense and use that.
-# retirement
+# Retirement (Calvert)
 #* Prepare spreadsheet, compare calculated numbers against actual withholdings
 # record receipts

@@ Line 5: / Line 5: @@
 # record all checks from checkbook in books
-# pay bills, making sure to record not only the payment (which is to an a/p) but the expense as well.
+# Create and pay bills, making sure to record not only the payment (which is to an a/p) but the expense as well.  Create bills before writing checks.
 #* record bills that have been paid automatically (If there have been any staffing changes involving credit card holders, make sure the online payments are still valid.)
 #::PGE
 #::NW Natural
@@ Line 17: / Line 18: @@
 #::Paychex
 #::...
-#*Bills that need to be manually paid online
+#* Bills that need to be manually paid online
 #::...
 #* write and mail checks for bills that need manual payment
-#::Integra
+#:: Integra
-#::Central Electronic Alarm (quarterly)
+#:: Central Electronic Alarm (quarterly)
 #::...
 #* (get authorization from appropriate committee if bill is at all questionable)

@@ Line 74: / Line 74: @@
 #* Make sure all donations in the database are in the books.
 #* Make sure insurances and depreciation are entered as monthly values.
 ===Adjusting Entries===

@@ Line 5: / Line 5: @@
 # record all checks from checkbook in books
 # pay bills, making sure to record not only the payment (which is to an a/p) but the expense as well.
 #* record bills that have been paid automatically (If there have been any staffing changes involving credit card holders, make sure the online payments are still valid.)
@@ Line 37: / Line 34: @@
 #** divide payroll tax expense as well.  If the staff categories have different ratios of work days, then create a new ratio from the total payroll expense and use that.
 # retirement
-#* Get and record reports from Mark
+#* Prepare spreadsheet, compare calculated numbers against actual withholdings
 # record receipts
 #* credit card
-#* reimbursements (from cash box)
+#* reimbursements
 # record daily income reports
 #* credit and debit card transactions for front desk and thrift store
@@ Line 50: / Line 47: @@
 # record deposits
 # record online account transactions
-#* eBay (download spreadsheet)
+#* Make sure most recent transactions have been downloaded to .iif and imported
-#* online paypal donations (download spreadsheet)
+#* create monthly spreadsheet and sort
-#** Verify whether any are for invoiced donations or sales
+#* transfer from "Paypal Other Income" to proper accounts (general journal)
 # check A/R accounts
 #* recycling vendors (i.e. Bear, Greenwall)
@@ Line 65: / Line 57: @@
 #** Schnitzer
 #** Wireless Alliance
 # check A/P accounts
 #* recycling vendors
-#** Total Reclaim
+#** Ecolights
 # reconcile bank accounts
 #* ebay transfer
 #* donations transfer
 #* savings (operating reserve)
-#* main checking
+#* First Tech payroll
 #* restricted
 #* Capital Pacific
 # reconcile line of credit
 # [[Reconciling the cash box|reconcile cash box]]
@@ Line 80: / Line 74: @@
 #* Make sure all donations in the database are in the books.
 #* Make sure insurances and depreciation are entered as monthly values.
 ===Adjusting Entries===
 # Reversing income entries

@@ Line 75: / Line 75: @@
 #* restricted
 #* Capital Pacific
 # [[Reconciling the cash box|reconcile cash box]]
 # Invoiced donations

← Older revision		Revision as of 19:08, 15 August 2013
Line 101:		Line 101:

	Check all bank account balances and initiate transfers to maintain proper balances.		Check all bank account balances and initiate transfers to maintain proper balances.
		+
		+	Look for transactions with future dates.

	== Reports ==		== Reports ==

← Older revision		Revision as of 15:59, 15 August 2013
Line 97:		Line 97:

	Also, search for transactions over $1,000 and determine if they should have been capitalized.		Also, search for transactions over $1,000 and determine if they should have been capitalized.
		+
		+	Check online accounts (PayPal, etc.) and initiate transfers to bank accounts. Make a note to follow up and sweep receiving bank account into main bank account in a few days.
		+
		+	Check all bank account balances and initiate transfers to maintain proper balances.

	== Reports ==		== Reports ==

@@ Line 26: / Line 26: @@
 #::Central Electronic Alarm (quarterly)
 #::...
-#** (get authorization from appropriate committee if bill is at all questionable)
+#* (get authorization from appropriate committee if bill is at all questionable)
 # pay rent
 # record payroll transactions

@@ Line 80: / Line 80: @@
 #* Make sure insurances and depreciation are entered as monthly values.
-== Adjusting Entries ==
+# Reversing income entries
 ''Target:  Done by the 15th day of the month.''
 # Check all prepaid expenses (Asset account, Other Assets)
@@ Line 88: / Line 93: @@
 #* Enter the monthly amount to expense
 #* (typically fixed operating assets paid ahead of time).  Expenses should be based on the expected life of the asset.
-# Reversing income entries
-#* In the event that we estimated an income amount in a previous month (for example a recycling shipment with an estimated number) it is possible that the amount has been settled on.  We will need to enter a transaction dated the first of the new month to undo the estimate and with it the actual amount.  The difference should be (relatively) minor.
+Review Miscellaneous accounts for transactions that should be re-classified.
-# Estimating expense entries
-#* In the event that an expense amount is forthcoming that will affect the previous month (for example a payroll expense for a two week period that will occur in a few days from the start of the new month) the amount affecting the earlier month should be estimated and entered.  When the amounts are known, we will need to enter a transaction to undo the estimate and with it the actual amount.  The difference should be (relatively) minor.
+Also, search for transactions over $1,000 and determine if they should have been capitalized.
 == Reports ==