Difference between revisions of "Closing out the month"
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#* miscellaneous transactions (reimbursements, IOUs, money receipts) | #* miscellaneous transactions (reimbursements, IOUs, money receipts) | ||
#* corrections (overages and short tills) | #* corrections (overages and short tills) | ||
+ | #* Invoiced donations | ||
# record deposits | # record deposits | ||
# record online account transactions | # record online account transactions | ||
Line 47: | Line 48: | ||
#* online paypal donations (if any) | #* online paypal donations (if any) | ||
#** Verify whether any are for invoiced donations or sales | #** Verify whether any are for invoiced donations or sales | ||
+ | #** Verify that all donations are in the database. | ||
#* Network for Good | #* Network for Good | ||
#** Log in to website https://www.networkforgood.org/NPO/MyAccount/Login.aspx | #** Log in to website https://www.networkforgood.org/NPO/MyAccount/Login.aspx | ||
Line 67: | Line 69: | ||
#* main checking | #* main checking | ||
# [[Reconciling the cash box|reconcile cash box]] | # [[Reconciling the cash box|reconcile cash box]] | ||
+ | # Invoiced donations | ||
+ | #* Make sure all donations in the database are in the books. | ||
+ | |||
[[Category: Accounting]] | [[Category: Accounting]] | ||
[[Category: Procedures]] | [[Category: Procedures]] |
Revision as of 17:54, 25 August 2010
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.
- record all checks from checkbook in books
- check the "Orphan" account for mistakes (this should actually b e checked every time you use gnucash)
- Imbalance-USD
- Orphan-USD
- 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.)
- PGE
- NW Natural
- Slicehost (cc)
- Waste Connections
- Comcast
- Portland Water (cc)
- Kaiser
- Paychex
- ...
- Bills that need to be manually paid online
- ...
- write and mail checks for bills that need manual payment
- Integra
- Central Electronic Alarm
- ...
- (get authorization from appropriate committee if bill is at all questionable)
- pay rent
- pay health care reimbursements
- record payroll transactions
- net pay, etc.
- tax withholding
- oddball deductions, such as advance paybacks, etc.
- retirement
- report 403(b) deductions (plus employer matches) to VALIC (online)
- See instructions at How to report retirement plan contributions
- write and send check to VALIC
- report 403(b) deductions (plus employer matches) to VALIC (online)
- record receipts
- credit card
- reimbursements (from cash box)
- record daily income reports
- credit and debit card transactions for front desk and thrift store
- "till total" amounts for front desk and thrift store
- daily transfers for front desk and thrift store (from end of shift forms)
- miscellaneous transactions (reimbursements, IOUs, money receipts)
- corrections (overages and short tills)
- Invoiced donations
- record deposits
- record online account transactions
- eBay (Serge creates a spreadsheet)
- online paypal donations (if any)
- Verify whether any are for invoiced donations or sales
- Verify that all donations are in the database.
- Network for Good
- Log in to website https://www.networkforgood.org/NPO/MyAccount/Login.aspx
- WWeek Give Guide!
- initiate a transfer to appropriate bank accounts and have michael finish it by transferring money into savings
- check A/R accounts
- recycling vendors (i.e. Bear, Greenwall)
- NCER
- Metro Metals
- Hallmark
- Schnitzer
- Recellular
- recycling vendors (i.e. Bear, Greenwall)
- check A/P accounts
- recycling vendors
- Total Reclaim
- recycling vendors
- reconcile bank accounts
- ebay transfer
- donations transfer
- savings (operating reserve)
- main checking
- reconcile cash box
- Invoiced donations
- Make sure all donations in the database are in the books.