Financial Processes

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DRAFT

Receipts At events

Entries, memberships, ball tickets - the doorkeepers show the event date on all door returns, membership forms, receipts, etc. The receipt date is the key to reconciliation so it must always be written on forms by the doorkeeper.

The details of event date, receipts type description and amount (where needed to update the MFS Spreadsheet) are emailed by the doorkeepers to MFS-Accounts within 48 hours of the event, CC membership and ball co-ordinator as applicable. The subsequent banking advice is emailed to MFS-Accounts by the person banking the takings, but the only use of the date-banked is in reconciling the bank statement to the MFS accounts spreadsheet.

Memberships by mail

Activity diagram for "membership (new or renewal) by post"
These are forwarded by the secretary or person clearing the PO box to the membership secretary, often as a re-direction of an envelope. The membership secretary marks the date received by the membership secretary on all paperwork, records this date in the membership database, and advises MFS-Accounts of received dates, descriptions and amounts. The same applies to any payments sent straight to the membership secretary, the date that memberships by mail are received by the membership secretary is always the transaction date. The membership secretary sends a subsequent advice of bankings to MFS-Accounts.

Reconciliations

Door returns, memberships, ball takings etc should match the MFS accounts with transaction date being the matching key.

The bank statement PLUS receipts not yet banked LESS un-presented cheques should match the MFS Accounts spreadsheet.

Monthly Close-Off

During reconciliation, missed transactions may be added to the month. When reconciled the month is closed and reports generated. No further postings will be made for the closed month.

If email notifications are received late, after the month has been closed off, the bookkeeper will change the transaction date to the first of the current month, and advise the sender to change their record to match.


See also:
Cash Accounting - Transaction Date
Inspecting Full Resolution Images


Content Manager: MFS Treasurer; Status: Draft

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