Harbinger wrote:
Moonrocket wrote:
ike wrote:
Your post refers to reports that your organization has to “file.” With whom are you filing the reports? If it’s some government entity, I’d just call and ask them how to handle uncashed checks. You are getting answers on what makes sense for internal accounting purposes. But, that may not match what is required by the entity with whom you are filing the reports. Apologies if I am being too literal on your use of “file.”Thanks! I will reach out and ask- just wanted to know what best practices are. I’m pretty sure they just want the report to match the bank statement. But as someone who plans fundraisers and expenses - I need to know that 50% of my bank balance is already spoken for in a check sitting in a file cabinet. And I need to get a new fundraiser set up for expenses we usually incur in June. (We have a target of no more than a $1,200 balance but there are times when I had $600 in checks not cashed- it’s not big money- which means a few checks make a big difference).
I added an outstanding checks line to my excel sheet I use- so I can see when checks were written for what and then when they are deposited.
Your intentions sound good. But you should not be the one filing any financial report because you do not know how to reconcile a bank account. That is a basic fundamental.
I am curious. Why do you write a check and then put it in a file cabinet?
Your intentions sound good- but you don’t seem to have grasped not being a jerk to a volunteer who is actively trying to learn something and help improve the life of children in their community.
This is one of the skills we try to teach the kids in our club. Plus, not being afraid to learn new stuff even if it feels awkward.
I appreciate everyone’s help on this- I was able to find a newer form than the one I was told to use that does have a line for uncashed checks on it.
The other good news is the same org that holds checks for cashing also holds them for sending out and we just got a big check from a fundraiser last summer (that I assumed was already accounted for before I took this over) that has pushed us over our target and I’ve gone from worrying about having enough funds to if I will get in trouble for having too much. So I think I need to add a line for fundraisers performed but not cashed out. I’m learning a lot. Any tips for how to account for this when we frequently don’t know what our split of the fundraiser $$$ is til checks come out- but have a roundabout idea from historic values?
ETA- I’m hoping to pass this on in the next few years- so hoping I can create something very clean and easy to pass on.
Last edited by:
Moonrocket: Apr 23, 24 8:26