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Internal Audit Bookkeeper Training

Internal Audit Bookkeeper Training

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Internal Audit Bookkeeper Training

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  1. Internal Audit Bookkeeper Training February13, 2014

  2. FUNDRAISING

  3. FUNDRAISING • All fundraisers must be preapproved using the MIS 582 form. • The school should use a separate fundraiser account for larger fundraisers or fundraisers that take place over several months. • Monies Collected forms for fundraisers must list source names or use the Report of Tickets Sold form. • All funds collected must be deposited into Internal Funds (Board Policy 2.10).

  4. FUNDRAISING • Prohibited Fundraisers • Games of chance • Food sales in competition with Food Services • When a fundraiser is completed, the sponsor of the fundraiser must complete the Financial Report of Fundraising form MIS 583. • Bookkeeper can use a Fundraiser Control Sheet to keep track of fundraisers.

  5. Transfers and Adjustments

  6. TransfersWhat are Transfers? • Transfers are for the movement of funds between Internal Funds accounts. • Example: To move profits from a fundraiser to the clubs general account. • Transfers are not used to correct cash receipt or disbursement errors.

  7. Transfers • Transfers always cross columns, the balance in the To column must match the balance in the From column. • Transfers must be approved by your Principal. • Transfers with activity in a Trust account must also be approved by the Audit Department.

  8. Transfers Transferring Fundraiser Profits

  9. AdjustmentsThree Main Reasons for Adjustments: • To Record Investment Income • To Record NSF Activity • -NSF Checks • -NSF Check Redeposit • To Record Posting Errors

  10. Adjustments All activity should be in either the Receipt column or the Disbursement column. Adjustments always stay in the same column, they should never cross columns. Most adjustments are in the Receipt column only, very rarely will you do an adjustment in the Disbursement column.

  11. AdjustmentsHow NOT to do an Adjustment

  12. AdjustmentsHow to Record Investment Interest

  13. AdjustmentsHow to Record NSF Check

  14. AdjustmentsHow to Record an NSF Redeposit

  15. AdjustmentsMake Sure Your Bank Date is Correct • If the adjustment involves the $992 checking account, the Bank Date has to be the same as your Bank Statement. • Bank Dates do not print on Adjustment Vouchers. • Check the Bank Date of your adjustment in Manatee, before doing additional adjustments.

  16. AdjustmentsHow to Check a Bank Date

  17. AdjustmentsFinal Steps

  18. AdjustmentsFinal Steps

  19. AdjustmentsFinal Steps

  20. AdjustmentsFinal Steps

  21. AdjustmentsFinal Steps

  22. AdjustmentsFinal Steps

  23. AdjustmentsFinal Steps

  24. How do I do that?Check out our new “How To” page atauditing.leeschools.net/HowTo