|NESFA® Treasury Procedures — Table of Contents||Revised 21-Feb-2013|
All our bank accounts should be reconciled monthly.
If the discrepancy between Peachtree and the bank statement cannot be resolved to zero, then if the discrepancy is the same as the previous month, at least the month in question is in balance, and the bank statement should be so noted.
The (usually) weekly report of income from PayPal, which is produced by the E-commerce clerk, has an unresolved transaction section at the bottom. The total shown in this section, added to the Peachtree balance of AS-PayPal should equal the balance shown on the PayPal web site for our account less the most recent entries which have not yet been reported by the E-commerce clerk.
These accounts are the responsibility of the Boskone Treasurer when actively being used for a Boskone. When they are lying dormant, the NESFA Treasurer is responsible. It is necessary to keep track of uncashed Boskone checks (which are not recorded in Peachtree).
Normally, the only thing to do is to record the interest quarterly, however the Income Stabilization Account specified in the Standing Rules SR §2.8 is kept in this account. The unrestricted balance in Peachtree account AS-FidelityMMkt and the restricted balance in account AS-Fid-IncStab must be added together to get the balance actually at Fidelity.
PayPal is not a bank, but it is treated as such in Peachtree; i.e., it is a Cash account, just like the real bank accounts are, and so it should be balanced regularly to make sure all the transactions are entered correctly.
We have accounts with Chase Paymentech, First Data Linkpoint, and American Express for which we must download and print the monthly account statements. These sites can also be used to download and print details of daily submissions. More details to be supplied.