15G-1 Secretarys Financial Duties - QuickBooks Checkbook Data Entry

Secretary’s How to Guide

Secretary’s Financial Duties – Quickbooks Checkbook Data Entry

This section is intended to provide tips on entering data in the QuickBooks Checkbook Register for you Lodge. It will become clear on why these tips are important and will facilitate the creation of reports such as:

Expense Warrants – provided to Treasurer for paying bills

Receipts Report – provided to Treasurer for making Bank Deposits

Budget – created by Senior Warden/Worshipful Master-elect

Budget versus year-to-year Expense/Receipt actual

Balance Sheet

Data input for IRS Form 990

This section will address each field in the Checkbook Register.

Open the “Your Lodge’ checkbook register by clicking on:

C:\Secretarys How to Guide\Financial Duties & Guidelines\Quickbooks Sample Lodge\Sample Lodge.QBW

On the HOME page for QuickBooks, click on ‘Check Register’, then select Bank Account ‘Your Lodge’.

Now the Check book Register is open.

Date: When entering receipts or expenses, use one date for all receipts, and a separate date for expenses per warrant. If multiple dates are used for expenses, DO NOT enter a receipt on a date within the range of expenses. The same hold true for entering receipts. If a range of dates is used for multiple receipts, DO NOT enter an expense with the range of receipts. With one date, a report can be printed to match the bank deposit or warrant.

TYPE: For expenses, enter the Lodge Check number used to pay a bill. For receipts, use the check number of the monies being received. Other entries can be made such as DEBIT, for bills that are auto paid by bank, CASH for cash received, JOURNAL for moving funds from RESTRICTED funds to an Account from the Chart of Accounts. As Secretary of your Lodge, it is your prerogative to use whatever method which meets all your requirements. From this point on, all samples, templates, saved record printouts, and procedures are based on the software package titled QuickBooks Pro 2009.

PAYEE: This field is used to record the name of a customer/RECEIPTS (member paying dues, monies received from dinners, rent, etc.), or to record the name of a vendor/invoices to which monies will be paid (utilities such as electric, phone, water, insurance, all EXPENSE accounts). Note: When entering a PAYEE name, if the entry is not already in the NAME LIST, a pop-up window will appear to add the name via ‘Quick Add’ where a RECEIPT is entered as a CUSTOMER and EXPENSES are entered as a VENDOR. Once a name has been entered in the NAME LIST, it will automatically be entered when you start typing in future checkbook entries.

PAYMENT/EXPENSES: Enter the total amount to be paid. If it covers multiple EXPENSE items, then select ‘SPLITS’ and enter the ACCOUNT, amount, and description in the MEMO section for each portion of the total received. For details, refer to ‘Your Lodge’ checkbook register. This initial expense example is for re-imbursement to a Lodge Officer for pre-Lodge dinner expenses, building maintenance supplies, and a fundraiser pre-event supply purchase. These expenses must be justified with a receipt or invoice for each item.

DEPOSIT/Monies Received: Enter the total amount received, to be deposited in bank. If it covers multiple INCOME items, then select ‘SPLITS’ and enter the ACCOUNT, amount, and description in the MEMO section for each portion of the total received. For details, refer to ‘Your Lodge’ check register. The initial deposit example is for dues, LYPMGC, and a Lodge Donation made prior to January 1st of the ensuing year. These items are posted to LIABILITY accounts using a SPLIT transaction entry. On January 1st, journal from the LIABILITY accounts to the appropriate INCOME accounts (ie: Dues LYPMGC, DONATIONS non-designated, etc).

ACCOUNT: When entering an ACCOUNT number, click on the down-arrow in the Account Field. The Chart of Accounts will pop up and the correct account can be selected. For SPLIT transactions, enter the account number, amount, and a description of the item in the MEMO field.

MEMO: Since multiple items are covered under some accounts, it is prudent to include a few words to describe the item for understanding the transaction in the future.

C:\Secretary’s How To Guide\Secretary’s Financial Duties\15G-1 Secretary’s Financial Duties QuickBooks Checkbook Data Entry.doc