NESFA Treasury Procedures

Last updated 7/17/2005.

This section of NESFA's web site documents NESFA's accounting procedures.

  1. Introduction
  2. The Chart of Accounts
    1. Program expenses and Non-Program expenses.
  3. Routine accounting
    1. Weekly routine
      1. Expense reports
      2. Entering book sales reported on an Income report
      3. Other income reports
      4. Entering check deposits
        1. Dealing with returns applied as credits to invoices
      5. Entering charge deposits
      6. Entering ecommerce deposits
      7. Recording checks
      8. Filing records
    2. Monthly routine
      1. Automatic monthly accounting transactions
      2. Mass. Sales tax
      3. Reconciling the bank accounts
    3. Receipts and proof of expenditure
    4. Reporting
    5. Closing out the fiscal year.
      1. NESFA and Boskone Life memberships
      2. Royalties due
      3. Reports
      4. Taxes
      5. Examination of accounts
      6. Write-offs
  4. Routine non-accounting
    1. Paying bills
  5. Other Asset accounts
    1. Cross-charge accounts with other organizations
    2. Advance accounts
    3. Postal bulk mail account
    4. Inventory
      1. Physical inventory and reconciliation
  6. Accounts receivable
    1. Entering an A/R order
    2. Creating new A/R customer accounts
    3. Who may buy on credit?
    4. Reviewing aging
    5. Dealing with overdue A/Rs
    6. Credits due to returns, mis-shipments, or damage
  7. Printing NESFA Press books
    1. Use of an asset account to accumulate book expenses
    2. Buying in a new book
    3. Paying royalties
    4. Setting up a new inventory item
  8. NESFA Sales
    1. Boskone Book advance sales
    2. Doing the post-convention accounting
    3. Reports NESFA Sales needs to generate
    4. Use of advance accounts for purchases
    5. Discounts
  9. Boskone
    1. The Boskone cross-charge account
    2. Life memberships
    3. Boskone equipment rental
    4. Closing Boskone books
    5. Boskone monthly charges
    6. Credit card fees
    7. Supervisory responsibilities
  10. Tax returns
    1. Federal form 990
    2. Mass. Form PC
    3. Somerville form 3ABC
    4. MA sales tax exemption
    5. Somerville personal property tax
    6. Auditor's review
  11. Storing and retaining records
  12. Other Stuff
    1. Pun fines.