Financial upkeep
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We use Quickbooks Online to manage our finances. Our bank accounts are at Park Community Credit Union.
Annual Tasks
- Our fiscal year ends July 31st
- We do not have to file taxes unless we have over 50k in revenue
Monthly Tasks
Second day of the month:
- Review the automated reports that are emailed to the board from QuickBooks.
- Add Financial information to the wiki, both the main page and the last months details.
- Reconcile in Quickbooks up to the beginning of the previous month
Last day of the month:
These tasks need to happen on the last day so that the reports generated on the first day are accurate.
- Review and clear the pending Quickbooks transactions, editing and splitting as necessary.
- Transfer donated money for specific funds to Savings and update wiki.
- Transfer monthly savings amount for savings goals to Savings and update wiki.
- Pay rent