HOWTO Be Treasurer
Beginning of month checklist
Do this ASAP after the first member meeting of the month.
- Collect all cash and check dues from the dues dropbox, place them in the "to process" envelope.
- For each dues check:
- Enter the check into QuickBooks. Credit the member's income account (e.g. "Income: Dues: Wordsworth, Wanda"). Debit the "Undeposited Checks" account.
- Enter the check into the CRM.
- Place the check in the "to deposit" envolope as soon as you are done.
- For each cash payment:
- Enter the payment into QuickBooks. Credit the member's income account (e.g. "Income: Dues: Wordsworth, Wanda"). Debit the "Cash" account.
- Enter the payment into the CRM.
- Write a paper receipt for the payment and place the member copy in the "dues receipts" envelope.
- Place the cash in the "to deposit" envelope.
- For each Amazon payment.
- Enter the payment into QuickBooks. Credit the member's income account (e.g. "Income: Dues: Wordsworth, Wanda"). Debit the "Amazon Payments" account.
- Add up all cash and checks in the "to deposit" folder, make sure the amounts match "Undeposited Checks," "Cash," and "Amazon Payments" in QuickBooks.
- Check the "Accounts" tab in the CRM for members who owe two or more month's dues. (Is two month's a good cut-off?)
- Visit that member's "plan" tab, and set the end date of their membership to the last day of the previous month (e.g. if you are doing this on Sept 3, set the end date to Aug 31).
- Visit the "Payments" > "Billing" tab in the CRM.
- Click "Run Billings" to debit each member's account for the current month's dues.
- Click "Send Emails" to email any members with an outstanding balance.
- Transfer the amazon account into the Checking Account, and record the transaction in QuickBooks.
- Deposit the "to deposit" envelope into the checking account and place the deposit slip in the "Deposit Slips" envelope for the current year.
Pre-board meeting checklist
Do these tasks once every month after the "beginning of the month" checklist and before the second-Tuesday board meeting.
- Reconcile the previous month's bank statement.
- Prepare a balance sheet.
- Prepare an income/expense report.
- Save a PDF of these reports in the i3 Dropbox.
- Mail the reports to email@example.com.
- Check the mail on a regular basis.
- Collect cash/check dues payments from the dues dropbox.
- When people try to randomly hand you fistfuls of dollar bills, remind them to fill out a payment form and put in in the dues dropbox. Expect this to happen at least on a weekly basis.
- Transfer Amazon payments from our Amazon account to our bank account.
- Perform investigative work to determine who has actually paid dues when members ignore your requests to use their full name when they make payments.
- File the taxes.
- Write reimbursement checks for approved expenses incurred by members.
- If you don’t want to be writing checks every single time you walk through the door, practice telling members they have to wait until the next meeting to get reimbursed for their expenses.
- Make sure the bills get paid on time. See the chart below for info on what payment methods are used for each bill.
- Send a monthly invoice to B. Nektar for their share of the electric bill.
- Enter dues payments into the CRM.
- Enter all income and expenses into Quickbooks.
- Deposit cash and checks at the bank.
- Present monthly financial reports to the Board of Directors.
- Provide sensible fiscal guidance whenever large purchases are being considered.
- Write up receipts for donations, and maintain the donation logbook.
- Follow up with members whose checks bounce; follow up with the same members the following month when their checks bounce again.
- Deal with people constantly coming up to you with questions about finances every single time you come up to the space to work on your own projects.
- Answer the same questions, over and over again, usually regarding information that is already posted on the wiki.
- Get told how to do your job by people who don't understand how our organization actually operates.
- Regularly remind yourself that you're only stuck with this job for a year.
Regular, recurring expenses and how they are paid
There are several expenses that are incurred on a regular and recurring basis. The following table describes each one, including a description of how the expense is paid. "Check" means that a physical check is written and delivered to the creditor. Note that some bills are actual paper bills that get delivered to the space--check the mailbox regularly for these and other important things.
|Payee (reason)||Frequency||Amount||Mode of Payment|
|John Hutt (rent)||Monthly||$2130.00||Check, payable to John Hutt, hand-delivered to mailbox of John's landscaping business (next door to i3).|
|WOW (internet)||Monthly||$74.50||Automatic debit from checking.|
|Runco Waste (dumpster)||Monthly||$65.00||Check; paper bill is mailed to 1481 Wordsworth.|
|Consumers Energy (gas)||Monthly||Varies||Automatic debit from checking.|
|DTE Energy (electricity)||Monthly||Varies||Automatic debit from checking; we send an invoice to B. Nektar for their portion of the bill.|
|Westfield Group (insurance)||Monthly||$89.00||Automatic debit from checking.|
|John Hutt (water)||Quarterly||$200||Check, payable to John Hutt, hand-delivered to mailbox of John's landscaping business (next door to i3); John Hutt delivers copy of bill to 1481 Wordsworth mailbox after subtracting B. Nektar's portion.|