NESFA® home page Last updated 01-Jul-2014.

NESFA® Treasury Procedures – Table of Contents

This section of the NESFA web site is the documentation for NESFA's accounting procedures.  It is maintained by the NESFA Treasurer.  Most procedures here are for the Treasurer's and the Treasurer's Assistants' reference, in that they say what needs to be done, and sometimes how.  In some cases, these procedures apply to how other members of NESFA interact with the Treasurer, and, when not specified by M-rules, E-rules, or by-laws, are fiats by the Treasurer. 

  1. General
    1. General Instructions (revised 20130427)
    2. The Chart of Accounts (revised 20140112)
      1. Program expenses vs. Non-Program expenses (revised 20120506).
  2. Routine accounting
    1. Weekly routine
      1. Filing and retaining records (revised 20130209)
      2. Expense reports (revised 20110920)
      3. Paying bills (revised 20130222)
      4. Dues and Book sales reported on an Income report (revised 20121224)
      5. Dues Forgiven by the Exec. Board (revised 20121224)
      6. Recording Book Donations and Review Copies (revised 20130209)
      7. Other income reports (revised 20130402)
      8. Deposits
        1. Choosing a deposit number (revised 20130412)
        2. Entering check and cash deposits (revised 20120724)
          1. Processing returns applied as credits to invoices.  See Inventory below.
        3. Entering charge (payment card) deposits (revised 20130314)
        4. Entering ecommerce deposits(revised 20130511)
        5. Entering PayPal Batches (revised 20120202)
      9. Dues Income Report (revised 20121224)
        1. Updating membership records
    2. Monthly routine
      1. Monthly accounting transactions (revised 20131017)
      2. Massachusetts Sales tax (revised 20130610)
      3. Reconciling the bank accounts (revised 20130221)
    3. Annual routine and closing out the fiscal year.
      1. Paying Royalties (revised 20130129)
      2. Annual transactions (revised 20130201)
      3. Examination of accounts
      4. Write-offs
  3. Other Asset accounts
    1. Cross-charge accounts with other organizations (revised 20110703)
    2. Advance accounts (revised 20121115)
    3. Prepaid expenses
      1. Postal (USPS) bulk mail account (revised 20111027)
      2. PSS Escrow mail account (new 20111018)
      3. UPS Shipping account (new 20111018)
    4. Inventory
      1. Handling Returned Books from Customers (revised 20120211)
      2. Handling Destroyed Books (new 20130501)
      3. Maintaining Hurt Books Inventory (revised 20120402)
        • Cash Register procedures for hurt books
      4. Physical inventory and reconciliation
  4. Accounts receivable
    1. Entering an A/R order (revised 20120625)
    2. Creating new credit customer accounts (revised 20111221)
    3. Who may buy on credit?
    4. Reviewing aging
    5. Dealing with overdue invoices
    6. Credits due to returns, mis-shipments, or damage — See above under Inventory.
  5. NESFA Press Book Production
    1. Accumulating book production expenses (revised 20120625).
    2. Buying in a new book (revised 20140410)
    3. Paying Royalties — See above under Closing out the fiscal year.
    4. Setting up a new inventory item (revised 20120624)
    5. Special considerations for use of the cash register (revised 20140701)
  6. NESFA Sales
    1. Boskone Book advance sales.  Procedure TBS.
    2. Doing the post-convention accounting (revised 20140112)
    3. Reports NESFA Sales needs to generate for Treasury.
      1. Reports from credit card swipe box (revised 20130111).
      2. Reports from cash register (new 20111220).
      3. PayPal transaction report. — TBS.
      4. E-commerce transaction report. . — TBS.
    4. Use of advance accounts for purchases (revised 20110723)
    5. Discounts (revised 20130111).
  7. Boskone
    1. The Boskone cross-charge account (revised 20111218)
    2. Closing Boskone books (revised 20120416)
    3. Boskone Credit card fees (revised 20130201)
    4. Supervisory responsibilities
    5. Boskone equipment rental — no longer applicable — repealed 20111009.
    6. Boskone monthly charges — no longer applicable — repealed 20111009.
    7. Life memberships — no longer applicable — eliminated 20121007.
  8. Tax returns
    1. Federal form 990
    2. Mass. Form PC
    3. Mass. Form 3ABC (filed with the City of Somerville)
    4. Massachusetts Sales tax — see above under Monthly Routine
    5. MA sales tax exemption
    6. Somerville personal property tax — no longer applicable; we are exempt.
    7. Auditor's review

Everything in here should comply with the by-laws and the standing rules

This page is maintained by Treasurer at NESFA dot org.