- COMPUTER BOOKKEEPING POLICY
The Treasurer maintains computerized financial records of the Library, currently on QuickBooks software.
Additional materials to be provided to the Board of Trustees should include a copy of the QuickBooks check registry to include all transactions since the last Board of Trustees meeting, an on line banking screen print showing current balances, and a QuickBooks report showing calendar year to date transactions versus the budget.
In addition, the Treasurer will maintain and make available to the Board of Trustees, a copy of current financial practices.
The checkbook should be maintained on a computer. This will include data entry of all income and expenses to include:
- Data entry of checks written
- Data entry of bank deposits made by the Library Director and staff
- Data entry to reflect electronic payments
- Data entry of payroll expenses using data from the payroll service ADP
- All entries must be coded by category to facilitate budget and tax preparation.
The bookkeeping program must reside on a computer in the library, be password protected with access limited to the Treasurer and Library Director. The Treasurer will maintain the administrator account and create user accounts for the Treasurer, Library Director and the designated member of the finance committee.
Reconcile the monthly bank statements on the computer, print and file a copy of the reconciliation.
Prepare the annual budget in QuickBooks, and prepare ‘Budget versus Actual’ reports for Board of Trustees meetings.
QuickBooks should be backed up frequently. A recent backup should be kept off site.
Data entry should be date protected, so data can’t be changed in error.
Adopted by the Board on Nov. 20, 2008