Saturday, June 16, 2012

Treasurer's Outlook - Key Operating Procedures

  1. Start with a budget –  a forecast of the finances needed to support the organization’s planned activities
  2. Enter transactions in QB software, and prepare management reports (e.g.  actual expenses vs. budget…)
  3. Prepare and review trial balance with all accounts following the end of the fiscal year
  4. Ask accountant to prepare draft statements, and send them out 20 days in advance of the annual meeting.
  5. Collect and consider questions and concerns from the members. 
  6. Discuss implications, and make revisions as necessary
  7. Present summary at AGM, and seek membership approval
  8. Close the books for the fiscal year, and submit required forms (e.g.CRA Inforeturn)

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