The Only Office Procedures Manual Template You'll Ever Need.Accounting Policies and Procedures Templates | Copedia
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Remember not everyone has an accounting background, so a review of the concepts and an overview of your people and software is the place to begin your manual. The organization employs a comprehensive and effective set of accounting practices, procedures and policies that are designed to:. To ensure appropriate internal controls are in place which are designed to protect key assets and prevent fraud and other such activities. Maintain an updated and documented record of the closing procedures that the company employs to produce financial statements and other management reports.
To provide historical accounting records for comparative reporting, benchmarking and other management needs. Annual Review of financial internal controls. Reviewing the daily AP invoices and files the copy of the AP invoice log by month then day Reviewing and Approving the check runs prior to printing Reviewing the check run summary report Reviewing and Approving all invoices and checks that require CFO signature Approve all employee reimbursements Approve all inter - account and intra - account transfers Authorize all inter fund transfers Receive the monthly bank statements unopened bank statements Review all bank reconciliations Manage all asset accounts Coordinate the budget process for submission to the president Review and approve with the president the monthly and annual financial statements prior to publication.
An asset is an element of the financial statements constituting economic resources as of a certain date, and expected to benefit future operations i. The Controller or designee is designated as the Fixed Asset System Coordinator and is responsible for ensuring:. The proper use, care and protection of company property Ensuring that company property is used only for the conduct of official company business See a sample Copedia accounting policy manual web app.
Accounting for Liabilities Policies for long term liabilities and presentation on the balance sheet. Define and classify revenue types with tables for General Ledger codes. For this reason, we will make this return available with the forms and A.
All requests for personnel records, job references and credit inquiries will be referred to the Director of Operations. This information is not to be made available to persons who are not regularly authorized to receive that particular report. Any such requests for information must be approved by the Director of Operations.
A schedule of record retention follows. Any discarding of records should follow this schedule. However, prior to discarding of records, the permission of the Director of Operations and the Accountant are required to ensure that they have no reason that an exception should be made to the policy.
All discarded documents are to be shredded or sent to our recycling company, which has a confidentiality agreement with us. For tax purposes, records should be maintained until the expiration of the statute of limitations. Generally, that period expires three years after the later of the due date of the return or the date filed. While there are a few exceptions to this rule, the three-year period normally should be adequate.
For non-tax purposes, records should be maintained only as long as they serve a business purpose or until all legal requirements are met. Unfortunately, there are not specific standards that will cover all situations. The following are some of the factors that should be considered:. Sample Inventory Document: Inventory Template. The accounting policies and procedures manual is critical to the accounting function of Milestone Democratic School, Incorporated.
Each year the Accountant will review the manual and formulate proposed changes. This update will be completed no later than October of each year. All changes must be approved in writing by the Director of Operations. If the Accountant has no proposed changes, a memo to that effect must be approved by the Director of Operations.
Whenever changes to the accounting procedures are made, a review of the accounting policies and procedures manual will be made by the Accountant to determine if a revision is required. Any minor revisions to the manual which are not reflected in the manual immediately should be kept on file to incorporate into the formal annual update. The revised manual will be distributed to the Accountant, Director of Operations, and Board Treasurer. The preparation of these reports will generally be contracted out to the independent accountants.
The Accountant will be responsible for providing the information needed to prepare the report. The Accountant and Director of Operations will review the reports prior to filing them to ensure that they are accurate and do not indicate any potential problems with the tax status or fundraising license of Milestone Democratic School, Incorporated.
The IRS forms are due September 15 two and one-half months after year end. If the forms are not ready, an extension may be requested for an additional 3 months using form The Wisconsin form must have the completed and A attached and is due November No extensions are granted on this filing. These forms will be prepared primarily from the final audited financial statements.
The Accountant will be responsible for gathering this information and providing it to the independent accountants. The Accountant and Director of Operations will review the activity of the prior year to determine if there was any unrelated business income. Such income would include newsletter advertising, sales of the mailing list, sales of items not related to our exempt purposes and debt-financed rental income not received as part of performing our exempt purposes.
Generally, the T and 4T will be prepared by the independent accountants. The due date for these returns is May 15, with an automatic extension of 6 months using form An inventory of property and equipment will be maintained. The inventory document will contain sufficient information for insurance and grant requirements.
The Accountant will maintain a database of property and equipment owned by Milestone Democratic School, Incorporated. The database will include: tag number, description, serial number, acquisition date, cost, vendor, location and any grant or other restrictions. The property and equipment database will be consulted prior to sale of any item to determine if there are restrictions.
An annual inventory will be taken to verify the existence of the property and equipment listed in the database. Any discrepancies found in the end of the year inventory shall be noted in the spreadsheet and reported to the Board along with a report of items stolen, damaged, lost, or discarded. Capital equipment listed as stolen shall include a police report. All items listed as damaged, lost, or discarded, or non-capital equipment listed as stolen, shall include a signed and dated Damage and Theft Report by the Director of Operations explaining the status of the item.
If items are damaged while a student was acting in good faith, a Damage and Theft Report will be filed. Additionally, a detailed report will be logged on the Annual Inventory Document. If there is damage but the item is still in acceptable condition it is still fully usable as it was originally intended to be used , the reports will be filed, and no further action will be taken. If items are lost, stolen, or damaged while a student was not acting in good faith, a Damage and Theft Report will be filed.
The school will then assess a fine or accept a replacement by the family, as is outlined in the Student Handbook. In such an event, as is consistent with our School Plan, a student will also be referred to our Restorative Justice Process. Any items purchased through contract or grants will be itemized, used, stored, discarded and liquidated using the guidelines specified in the contract or grant. Equipment will be included in the database using the definitions for capitalization in Section 3.
Grant and contract billings will be prepared and filed timely. Adequate documentation will be maintained to support all billings. Grant and contract billings will be prepared monthly or as needed. Billing will be done according to funding source requirements based on reimbursements of expenses, units of service or equal installment as required.
Documentation of billings will be prepared and maintained. For billings based on a reimbursement of expenses, a copy of the program expenses from the software and any reconciliations to the billing will be maintained.
For billings based on units of service, a copy of the detailed units of service will be maintained. The Accountant, Program Manager and Director of Operations will each approve billings prior to issuance.
Grant and contract files will contain at least the following documents: signed copy of contract, application and budget, correspondence, periodic billings and the documentation supporting the billings. Your email address will not be published. Save my name, email, and website in this browser for the next time I comment. Password Protected. Enter Password :. Board Policies. Meeting Notices, Agendae, and Minutes. Operational Procedures and Administrative Regulations.
Organizational Documents. Accounting Policies and Procedures Manual. Last updated by Sean Anderson on November 14, How did you like this article? This helps anyone using the manual know who to contact if they have questions. Let someone who has no idea what you do read the manual. After your associate has read the manual, ask him to run you through a play-by-play of what he would do in any given day. This allows people to search with far more sophistication than they can achieve using just their eyeballs to skim your bullets and headings, regardless of how well-organized they are.
Procedures which are unnecessarily restrictive may limit their usefulness. For example, if a procedure involves collaborating with someone at the company, then you could simply use the title of the position instead of the name of the person. When people leave the company, the manual will remain useful. Define any terms that might seem like jargon specific to your position, or clarify any procedures that might require some context to understand. An office procedures manual is not a static document and it will need some revitalizing every so often.
Make it clear if a procedure is a one-off or a recurring daily, weekly, monthly, or annual task. Pro-Tip: If you are a remote employee or part of a team with remote workers looking for an effective way to stay connected, then we recommend checking out CloudTalk. Perfectly designed for the modern distributed workforce, their Voice over Internet Protocol VoIP technology allows your employees to make clear calls from any location using a computer or a phone.
Include the information below to outline procedures for one task in your procedure manual. Your office procedures manual will likely be made of a series of tasks, some related and others completely separate.
Obviously, group related tasks together. Include lines or flow charts to indicate connection between the tasks. Have you ever created an office procedures manual? What tips, tricks, and best practices kept you on track? This accounting journal template includes each step with sections for their debits and credits, and pre-built formulas to calculate the total balances for each column.
When making large purchases for items like inventory, supplies, or equipment it may be necessary to do so on credit, which could result in multiple monthly payments made to different vendors or suppliers, due on different dates.
Using this accounts payable template will help to keep track of what you owe to each party, and will provide a quick look at the total outstanding balances and due dates.
Every company should have a process in place to manage the outstanding balances owed to them. Using this accounts receivable template will help streamline the process by providing a place for you to track the amounts due to your company and help prioritize collection efforts.
For any company providing goods or services, using an invoice that looks professional and can be customized to fit your needs, is important.
This simple bill template will help you get started quickly. Add your company details and payee information, provide an itemized list of the description, quantity, and price of each item you are charging for, and include directions on how your customer may remit payment. A bill of lading is a document detailing how goods are being shipped from a seller to a recipient.
It includes details about the items being shipped, the quantity of items included in the shipment, and the destination address. Use a bill of lading template to ensure you complete this document for each shipping transaction. This template includes a signature section that should be signed by you, then the shipping company, and finally the recipient, so that if the shipment is lost, the signature detail will help identify at what point it was lost and who was liable.
A billing statement is helpful if you receive regular bi-monthly or monthly payments from your customers.
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