QB & ASSUROR Issues                 0676-09      ZZqbb

                - - - Rejoice in the Lord always ... again I say Rejoice !!! - - -

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                  TO:  Interested Ministries using QB or QuickBooks (TM)                                                  FROM: Jim Bramer, Retired CPA-Auditor
                                                                                                                                                                             FILE:  0676-09/qbb

                   RE: 
QB & ASSUROR  Issues                                                                                                  Originated:  August 2000                        


        In a sister Web Site publication, called QB and Internal Financial Controls,  we thoroughly discuss insufficient Financial Internal Controls intrinsic to the excellent  QuickBooks (QB) (TM)  accounting software product that we highly recommend for handling the special fund accounting needs of Ministries. 
        But we also vigorously point you to some
Flagable  items as we attempt to get the attention of such users. Please let us know if you do NOT understand our expressed concerns for the on-going veracity of your finances.
       In this Web Site publication, we provide you with some Financial Internal Control remedies as the Ministry Finance Team changes these Yellow/Red lights to Green lights.
        We reference an outsourced person who provides solutions to these matters as an ASSUROR  (Actually, I wanted to call this person a
Green Lighter - G/LITER, etc. ------ but, but, but ).  Or this ASSUROR is trained to provide the Ministry with meaningful 'ASSURANCE'  by changing your existing  Flagable  circumstances to the needed betterment.  As detailed below, we believe that a qualified ASSUROR can function locally or remotely. These ASSUROR helpers provide the needed Ministry Financial Internal Controls  "Verification and/or Assurance."
        This overall topic reminds me of the song "Blessed Assurance - Jesus is Mine" where we find life rendering, never ending and real Assurance.


- - T H E   L O C A L   A S S U R O R   - -

LOCATION:

              Issues or Tasks

(1)OffSite

(2)OnSite

1

OffSite means the  ASSUROR's place of business

XXXX

2

OnSite means the Ministry's place of business

XXXX

3

Bank Reconciliation

Bank Statement mailed directly to ASSUROR

3 (A)

 - - - Ministry Name C/O ASSUROR - - -

ASSUROR

Bank reconciles Bank Statement balance

      to Ministry's balance.

XXXX

Verifies Internal transfers re checks/deposits

XXXX

Can appropriately view cancelled checks and

       endorsements

XXXX

Cares for applicable Online Payment matters

XXXX

Gets Bank Statements and cancelled

     checks to (or back to) the Ministry

XXXX

Make Bank Rec entries to QB

XXXX

    3 (A) Could go directly to Ministry but then

opened only by ASSUROR, etc.

4

ASSUROR "Sets QB in concrete" via QB data password features

5

Produce non-computer copies of:

Detailed G/L, or General ledger

5 (A)

5 (A)

QB SPFunds Class Tranx

5 (A)

5 (A)

QB GPFund Class Tranx

5 (A)

5 (A)

Month End Internal Proofs

5 (A)

5 (A)

     5 (A) Probably OffSite, but could be OnSite.

6

ASSUROR could be a member of Ministry Finance Team-MFTeam

As Team-mate; not as an outside Auditor; contribute to MIFI

      priority and their completion.

MFTeam

    Preferable meet during 2nd wk of month

6 (A)

6 (A)

    To have formal minutes

XXXX

    Provides formal written recommendations

        to the governing body.

XXXX

   6 (A) Prefers to meet in person every few months and 

participate via phone conferences during the other months.

7

ASSUROR

To provide needed year end services so that

    the Year End Financial report is presented

    according to known GAAP requirements.

XXXX

 


-  -  R E M O T E    A S S U R O R  -  -

Issues or Tasks 

     1.    The Ministry cost-efficiently uses the Internet to get their latest QB Company to the ASSUROR  who uses it for tasks like the following:

  •  LOYS and, if appropriate, effectively uses the QB Accountant Copy features 
  •  Click here for info re the QBOE via the Web System 
  •  Verifies memorized report proofs. 
  •  Click here to view a Proof worksheet example 

     2.  The  ASSUROR does the monthly BREC (Bank reconciliation) as Bank Statements and cancelled checks (or equivalent) are mailed directly to ASSUROR  (Ministry Name,  C/O ASSUROR )  ....  whose tasks could include any, or all, of the following: 

  •   BREC bank statement balance to Ministry's balance. 
  •   Verifies Internal Transfers re bank checks/deposits 
  •   Views cancelled checks/endorsements 
  •   Cares for Online Payment matters 
  •   Gets the Bank Statements and cancelled checks back to the Ministry 
  •   Makes sure that the Bank Reconciliation adjustment entries get into QB 

     3.  ASSUROR "Sets QB in concrete", or finalizes the month end, which might involve at least the following:

  •   Becomes the QB password Admin;  
  •   Gives Ministry permission to Close the Period (Month) and print copies of the following: 
  •   Produce detailed G/L, or General ledger 
  •   Produce detailed QB SPFunds Class Tranx report
  •   Produce detailed QB GPFund Class Tranx report 
  •   Produce detailed Month End Internal Proofs 
  •   Sets "Closed Period" dates 

     4.  The ASSUROR would have regular remote contact and interaction with the MFTeam. Methods could include: 

  •   Email 
  •   Periodic phone conference calls whereby all members can hear and inter-act.
  •   Online live dialogs with entire MFTeam or members thereof.

     5.  The ASSUROR could provide agreed year end services. 


--MINISTRY FINANCE "LINGO"  INCLUDE--

           G/L = General Ledger
           BREC = Bank Reconciliation
           GAAP = Generally Accepted Accounting Principles
           GPFund = General Purpose Fund 
           LOYS = Looks over your Shoulder
           MFT or MFTeam = Ministry Finance Team
           MIFI = Most Important Financial Issues
           QB = Quickbooks
           SPF or SPFunds = Special Purpose Funds 


        Please go to  0077  and learn more about potential ASSUROR training resources available on this Web Site.
         Bear in mind that a ASSUROR is NOT the CPA-Auditor when you click on 0003, or the Internal Auditor mentioned in 0038 or 0057.  
        Contact us and we will attempt to line you up with the  ASSUROR  that can best meet your unique needs.  


      Please Click here for more topics having to do with the use of "QuickBooks and Ministry Fund Accounting"  on www.bcidot.org.  The bulk of this Publication originated in August 2000 and was.  UPTD: March 09, 2012    

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