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UAW / RCS Financial Reminders
Weekly
1) Create vouchers (payable & payroll), print & post checks.
2) Tax deposits (state & federal). From the Main Menu select
4) Misc. Reports then select 3) Federal Tax Report. For LM
purposes, it is very important to use the proper accounts for taxes
forwarded. The employer portion of the FICA taxes belong on a
separate line from the employee portion forwarded. With that said,
we make it easy! Just create the voucher exactly as printed on the
Federal Tax Report.
3) Backup data. From the Main Menu, select 7) Back-up &
restore Financial . . . . then select 1) Back-up the Financial
Data.
Note: Be sure to rotate your disks weekly.
Monthly
1) Reconcile the bank statement.
A. Enter bank charges or debits from the checking account on
a payable voucher by using 9's for the check number (remember to print
on regular paper & post).
B. Reconcile checks. From the Main Menu select 1)
Check Processing then select 4) Check Reconciliation.
Note: The month being reconciled is the same as the bank statement.
Don't forget to reconcile any bank statements or 9999's checks entered.
You may find them at the end of the list by pressing <F8>. The
date column for any voided checks lists the void date. If that
date is in the month being reconciled (or prior to it) you may reconcile
the voided checks.
C. Print an Outstanding Checks Report. From the
Main Menu select 1) Enter Income by using the receipt book.
2) Enter income receipts for the month (you may do this
anytime throughout the month).
A. From the Main Menu select 2) Income Processing,
then select 1) Enter Income by using the receipt book.
3) Allocation of Funds (monthly transfers per UAW
Constitution / Local Bylaws)
A. From the Main Menu select 2) Income Processing,
then select 1) Enter Income
Answer as follows: DATE=last day of the month / RECEIPT
NUMBER=All 1's (hold the 1 key down until computer beeps) / Transfer
amounts (pennies times the members) are automatically figured based on
the number of active members. The split accommodates up to ten
lines on one receipt, if you have more than ten transactions, you will
have to manually continue to the next receipt number.
4) Enter bank deposits and direct deposits for the month
and number dues paying members.
A. From the Main Menu select 2) Income Processing then
select Option 3) Bank Deposits and Option 1) Bank Deposits/Members
used on the A-42/A-132 Report.
5) Enter Asset Information.
A. From the Main Menu select 2) Income Processing then
select Allocation of Assets. Note: You will need your
ending bank balance and total dollar amount of the outstanding checks.
6) Print the Cash & Fund Summary.
A. From the Main Menu select 2) Income Processing then
select 6) Report Cash & Fund Summary (A-43).
Quarterly
1) From the Main Menu select 4) Misc. Reports then
select 2) Quarterly State Wage Report.
2) From the Main Menu select 4) Misc. Reports, then
select Federal Tax Report.
Semi Annual
1. From the Main Menu select 4) Misc. Reports, then
select 5) Trustee's Semi-Annual Audit Report.
Yearly
1. From the Main Menu select 2) Income Processing then
select 8) Yearly Financial Report.
2) From the Main Menu select 3) Expense and Employee
Report then select 3) Employee Reports and 1) Detail
Employee Wages by Week.
3) From the Main Menu select 8) Year End Processing
then select 1) Check YTD Employee Totals.
4) From the Main Menu select 8) Year End Processing
then select 2) Print W-2s.
5) From the Main Menu select 8) Year End Processing,
then select 5) LM2/LM3 Report.
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IBEW/RCS Financial Reminders
Weekly
1) Create vouchers (payable & payroll), print & post checks.
2) Tax deposits (state & federal). From the Main Menu select
4) Misc. Reports then select 3) Federal Tax Report. For LM
purposes, it is very important to use the proper accounts for taxes
forwarded. The employer portion of the FICA taxes belong on a
separate line from the employee portion forwarded. With that said,
we make it easy! Just create the voucher exactly as printed on the
Federal Tax Report.
3) Backup data. From the Main Menu, select 7) Back-up &
restore Financial . . . . then select 1) Back-up the Financial
Data.
Note: Be sure to rotate your disks weekly.
Monthly
1) Reconcile the bank statement.
A. Enter bank charges or debits from the checking account on
a payable voucher by using 9's for the check number (remember to print
on regular paper & post).
B. Reconcile checks. From the Main Menu select 1)
Check Processing then select 4) Check Reconciliation.
Note: The month being reconciled is the same as the bank statement.
Don't forget to reconcile any bank statements or 9999's checks entered.
You may find them at the end of the list by pressing <F8>. The
date column for any voided checks lists the void date. If that
date is in the month being reconciled (or prior to it) you may reconcile
the voided checks.
C. Print an Outstanding Checks Report. From the
Main Menu select 1) Enter Income by using the receipt book.
2) Enter income receipts for the month (you may do this
anytime throughout the month).
3) Enter bank deposits and direct deposits for the month
and number of dues paying members.
A. From the Main Menu select 2) Income Processing then
select 3) Bank Deposits and Option 1) Bank Deposits /Members used on
the A-42/A-132 Report.
4) Enter Asset Information
You must manually update the ending balances
for each asset account.
A. From the Main Menu select 2) Income Processing,
then select Allocation of Assets.
Note: You will need your ending bank balance and total dollar amount of
the outstanding checks.
5) Print the Cash & Fund Summary.
A. From the Main Menu select 2) Income Processing,
then select 6) Report Cash & Fund Summary (A-43).
STOP! Compare the "Balance to Account" with the "Total Cash
Assets" these figures must match.
B. From the Main Menu select 2) Income Processing,
then select 4) Report Monthly Summary of Cash Received A-42A-132.
C. From the Main Menu select 2) Income Processing then
select 7) Report Summary of Income (A-44).
D. From the Main Menu select 2) Income Processing then
select 8) Monthly/Yearly Financial Report.
E. From the Main Menu select 3) Employee & Expenses
Reports then select 1) Monthly Detail of Expenditures (Form
A-40-1/2).
F. From the Main Menu select 3) Employee & Expense Reports
then select 2) Summary of Expenditures (A-41).
G. From the Main Menu select 4) Misc. Reports then
select 2) Lost Time Report. Note: Print this report only if
you have any lost time to report.
H. From the Main Menu select 8) Year End Processing
then select 1) Check YTD Employee Totals.
Quarterly
1) From the Main Menu select 4) Misc. Reports then
select 2) Quarterly State Wage Report.
2) From the Main Menu select 4) Misc. Reports, then
select Federal Tax Report.
Semi Annual
1. From the Main Menu select 4) Misc. Reports, then
select 5) Trustee's Semi-Annual Audit Report.
Yearly
1. From the Main Menu select 2) Income Processing then
select 8) Yearly Financial Report.
2) From the Main Menu select 3) Expense and Employee
Report then select 3) Employee Reports and 1) Detail
Employee Wages by Week.
3) From the Main Menu select 8) Year End Processing
then select 1) Check YTD Employee Totals.
4) From the Main Menu select 8) Year End Processing
then select 2) Print W-2s.
5) From the Main Menu select 8) Year End Processing,
then select 5) LM2/LM3 Report. |
