Editing Year End Financial Task

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At the end of each financial year, year end financial statements are produced.
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At the end of each financial year
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This process can take around 30 hours, depending on the amount of corrections that need to be made.
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== Tasks ==
== Tasks ==
{{Tasks iteration date|{{current or past month|09}}-01}}
{{Tasks iteration date|{{current or past month|09}}-01}}
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# Perform an inventory of all assets and adjust accounts as appropriate {{status|won't|2021-02-11}}
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* Perform an inventory of all assets and adjust accounts as appropriate {{status|won't|2020-02-22}}
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# Make sure there are no transactions on the top-level accounts of ATB Casino, ATB Chequing or ATB Mastercard {{status|not yet|2020-02-24}}
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* Visually inspect each account in the online accounting system making sure they make overall sense. Review transactions for the last fiscal year. {{status|}}
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# Visually inspect each account in the online accounting system making sure they make overall sense. Review transactions for the last fiscal year. Correct or clarify any issues. {{status|not yet|2020-02-23}}
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** issues:
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# review the "A/R Aging Detail" report; question any A/R older than 90 days -- are these in error? {{status|not yet|2020-02-23}}
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*** "GST rebate receivable" does not have any transactions listed
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# review the "A/P Aging Detail" report (to identify bills that may have been entered but never paid, or entered twice) {{status|not yet|2020-02-23}}
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*** "Golf Shirts" show no inventory; when did we purchase?
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# the "Transaction List by Supplier" report for the financial year (to identify bills that have been entered entered twice and paid twice). {{status|not yet|2020-02-23}}
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*** "T-Shirts" show no inventory; when did we purchase?
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# Prepare the [[Members:Book Keeping Task/QuickBooks/Online/Reports|Financial Statements]] for the end of the previous year. {{status|not yet|2020-02-24}}
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**** compare 2018-12-31 on "6117 Search Hats", "6118 Search Shirts"
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# Make sure that the financial statements match the year end financial statements that were [[Audit#Audits|submitted the previous year]]. {{status|not yet|2020-02-24}}
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*** "Avalanche Gear" show no purchases; when did we purchase?
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# If they don't you may have transactions that were booked for the wrong year or you may have transactions that were entered for the previous years that were entered after the last year's financial statements were prepared. If the latter, enter transactions on the year boundary to adjust the books. One on the last day of the financial year to recreate the audited statements, and a reversing one on the first day of the new year to reflect the true status. {{status|not yet|2020-02-24}}
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*** "Computer" show no purchases; when did we purchase?
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# Record the [[Members:Book Keeping Task/GST|GST rebatible]] {{status|not yet|2020-02-24}}
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*** "Inventory Asset 1" sounds like a bogus account
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# Add the [[Book Keeping Task/Depreciation|depreciation]] for the current year. {{status|not yet|2020-02-24}}
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*** "Inventory Asset 1-1" sounds like a bogus account
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# Adjust the [[Members:Book Keeping Task/Deferred Revenue|deferred revenue]]. {{status|not yet|2020-02-24}}
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*** "Misc Fixed Assets" locks don't meet criteria for [[Book Keeping Task/Depreciation|capitalization/depreciation]].
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# Prepare the [[Members:Book Keeping Task/QuickBooks/Online/Reports|Financial Statements]] for the end of the current year. {{status|not yet|2020-02-24}}
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*** Accounts Payable (A/P) - USD shows a consistent unresolved -$0.02 starting 2018-11-19
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# Prepare the Deferred Revenue Reconciliation statement {{status|not yet|2020-02-24}}
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*** "Deferred revenue (2018 Provincial Training)"
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# File them as the year-end [[Members:Financial/Statements|financial statements]] and with the [[Audit]] records. {{status|}}
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**** should probably be separate accounts for each year's grant
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# Have the books and statements [[Audit|audited]]. {{status|}}
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**** does not appear to have been cleared of $7700 since earlier course was run
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*** "Incidents:2019-07-04 Boulder Run" and "Incidents:2019-07-06 Lethbridge search"
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**** appear not to have been invoiced to tasking agency, may need to be written off
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**** bill dates 2019-05-31 appears to be before dates of incidents
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*** weird journal entry 2018-10-17 $964.70 deleting avalanche transcievers
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*** "4200 Provincial Training Grant" shows no income
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*** "Donations - other" could be better classified or described "donations - unsolicitable"
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*** should give account number to "Fundraising expense"
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*** "Meals and Entertainment"
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**** 2019-08-16 2018 AGM food should be charged to "Recruitment and Retention"
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**** delete account to avoid future mistaken assignment
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*** "Miscellaneous Expense"
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**** 2020-01-15 storage bins should be a response equipment expense
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**** delete account to avoid future mistaken assignment
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**** "Exchange Gain or Loss"
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***** document meaning
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***** number account
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* Run the [[FinancialStatementsTask]] for the end of the previous year. {{status|}}
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* Make sure that the financial statements match the year end financial statements that were submitted the previous year. {{status|}}
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* If they don't you may have transactions that were booked for the wrong year or you may have transactions that were entered for the previous years that were entered after the last year's financial statements were prepared. If the latter, enter transactions on the year boundary to adjust the books. {{status|}}
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* Add the [[Book Keeping Task/Depreciation|depreciation]] for the current year. {{status|}}
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* Adjust the [[Members:Book Keeping Task/Deferred Revenue|deferred revenue]]. {{status|}}
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* Run the [[FinancialStatementsTask]] for the end of the current year. Submit them as the year-end financial statements. {{status|}}
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* Have the books and statements [[Audit|audited]]. {{status|}}

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