BIwiki - Treasurers Tips

So you are going to be Treasurer!

You don’t have to be a math whiz, the software does that part. All you need is a little common sense, and a basic understanding of the concepts of club accounting. Help is readily available for those occasional sticky questions.

Here is a brief overview:

Deposit and post payments when received
Post all transactions as of dates on your statements.
Maintain copies of reports and primary documentation for all transactions.
Reconcile cash and numbers of shares with your statements each month.
Create and save a Valuation each month to set the value of your units for that month.
For meetings, announce available cash and upcoming expenses. Provide members a Valuation Statement, Members Status Report, and a brief Journal report.
For year end, complete a 12/31 Valuation when all entries are made, and run the Allocation of Income and Expense report (NCA/NOCA) or Member Tax Allocations report (bivio) in preparation for tax reporting.

All these and more will be explored further under separate topics at this site. Click and browse for what you need to know.

BI wiki

Treasurers Tips - Overview