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.

1. pay bills
   • record bills that have been paid automatically
   • write and mail checks for bills that need manual payment
     • (get authorization from appropriate committee if bill is at all questionable)
2. record payroll transactions
   • regular payroll
   • substitute payroll
   • tax withholding
   • payroll accounting fees
3. record receipts
   • credit card
   • reimbursements (from cash box)
4. record daily income reports
5. record deposits
6. record online account transactions
   • eBay (Serge creates a spreadsheet)
   • online paypal donations (if any)
   • initiate a transfer to appropriate bank accounts and have michael finish it by transferring money into savings
7. check A/R accounts
   • recycling vendors (i.e. Calbag)
   • tenant sublets
8. check A/P accounts
   • recycling vendors (i.e. Total Reclaim)
9. reconcile bank accounts
   • ebay transfer
   • donations transfer
   • savings (operating reserve)
   • main checking
10. reconcile cash box