At my local mosque they do it this way:
Buckets are carried passed the waiting rows of worshippers and various
notes and coins dropped in.
Buckets then go to the front of the mosque during the prayers.
After prayers the buckets are tipped up on the carpet near the exit and 5-6
people count the
On 7/31/2020 7:48 PM, doncram wrote:
Michael Novack said: "I did like you said, recounted in the presence of a
witness or witnesses, and then and there wrote a personal check for that
amount and pocketed the currency. In other words, I was able to REPLACE
physical cash so now just checks"
But
Many funny comments here about the sorry volunteer Treasurer's plight, who
is never going to get out of it. With Flywire's perhaps the most hilarious
to me ("Been there as Treasurer, club meeting when I was away, members
collected meeting fees then paid venue for meals out of money collected
On 7/28/2020 10:23 PM, Dale Alspach wrote:
I am not confused. Here is a link to a CPA's site explaining the issue
http://www.otcpas.com/advisor-blog/dual-signatures/#:~:text=By%20requiring%20two%20signatures%2C%20the,checks%20to%20a%20fictitious%20company.
Dale
That depends on the bank. What
I am not confused. Here is a link to a CPA's site explaining the issue
http://www.otcpas.com/advisor-blog/dual-signatures/#:~:text=By%20requiring%20two%20signatures%2C%20the,checks%20to%20a%20fictitious%20company.
Dale
On Tue, Jul 28, 2020 at 11:24 AM Michael or Penny Novack <
On 7/27/2020 4:50 PM, Dale Alspach wrote:
I would not put much faith in requiring two signatures. It is unlikely that
the bank is actually paying any attention to this requirement. I learned
this from a former bank employee who was on the board of a nonprofit I work
with. In other words it is
Thanks for the links.
That first one is the bug report I had in mind. (re-reading it just now
reminded me of other issues and difficulties I had forgotten)
The second one appears closed, but I'm sure is an interesting read.
And yes, I've been following your work a bit on that fancy chart. I
On Mon, 27 Jul 2020 at 18:52, Adrien Monteleone <
adrien.montele...@lusfiber.net> wrote:
> 2. Statement of Cash Flows
>
> I don't recall if this was heavily discussed in a thread or bug report
> (I think a bug report, maybe both) but I recall looking over this last
> year when trying to help a
I suppose mileage varies. In my experience, I've seen a case or two
(different businesses) where the bank had another signatory appear in
person to sign the check before they would honor it.
If your bank offers this protection, I'd certainly bring it to their
attention when they aren't
I would not put much faith in requiring two signatures. It is unlikely that
the bank is actually paying any attention to this requirement. I learned
this from a former bank employee who was on the board of a nonprofit I work
with. In other words it is an internal control only.
Dale
On Mon, Jul
All but one business or non-profit I've worked for or with had a
two-person signature rule. (over a certain small amount) One still
writes paper checks to keep that standard. (not sure myself how that is
handled electronically)
For the one business that allowed only one signature for any
Will,
That's a basic tenet of access control. (part of accounting itself, and
is in my text book too.)
The the person with access to funds (of any kind) should not be the
person who accounts for those funds. (but should of course provide all
the required documentation for what they do with
I'm not an accountant or an attorney either. But I've been a manager and
I've caught people stealing from various cash sources. I can attest,
that if you don't track it tightly, even with access control, it will
magically walk away at some point.
Not treating PayPal like an account in your
1. Job Costing
While not 'out of the box and in your face obvious' I think GnuCash can
handle 'Job Costing' at least at a rudimentary level now. This sounds
like a more specific request of the generic 'classes/categories' RFE
that pops up frequently. (another is for revenue/profit centers
On 7/27/2020 12:13 PM, Stephen M. Butler wrote:
I am able to send along an account ID or Invoice ID and then there is
the entire memo field on the check. I also get an email from the CU (if
I request) stating that it has been sent. I can forward that to the
recipient with additional notes.
On 7/27/20 2:07 AM, Liz Dodd wrote:
> On Sun, 26 Jul 2020 17:40:19 -0400
> Michael or Penny Novack wrote:
>
>> Having the bank mail a check? When I mail a check, there is always
>> going to be supporting documentation in the envelope along with it.
>> Are you receiving checks with no indication
On Sun, 26 Jul 2020 17:40:19 -0400
Michael or Penny Novack wrote:
> Having the bank mail a check? When I mail a check, there is always
> going to be supporting documentation in the envelope along with it.
> Are you receiving checks with no indication what for? What do you do
> then?
>
There's
Don,
One of the reasons I started using GnuCash was to prepare assignments while
doing a Master's in accounting 10 years ago.
It's value then and now was it could be adapted fairly easily to a variety of
needs and the transition to it from
traditional accounting theory and T accounts was pretty
On 7/26/20 2:40 PM, Michael or Penny Novack wrote:
>
>> Hmm. Better migrate to a credit union then. Mine will send checks to
>> an address and they will even put the stamp on the envelope. There is
>> an option to send to a phone number or email address.
>
>
> Lovely. If you directed a check to
Hmm. Better migrate to a credit union then. Mine will send checks to
an address and they will even put the stamp on the envelope. There is
an option to send to a phone number or email address.
Lovely. If you directed a check to my phone number it's inaccessible.
Do you KNOW that phone
On 7/26/20 9:25 AM, Michael or Penny Novack wrote:
> On 7/26/2020 11:39 AM, John Ralls wrote:
>
>> Did nobody read the footnote? The book was published in 1985, long
>> before electronic payments became widely available. No doubt the 2020
>> edition would say something like "independently
Recently someone called the treaurer of a group associated with mine. They told
her the chair of the group had an emergency and needed funds. The treasurer did
not have access to their Paypal account so he sent funds from his personal
account. It turned out to be a scam. Actually a pretty well
On 2020 Jul 26, at 07-26 11:25:10, Michael or Penny Novack
wrote:
On 7/26/2020 11:39 AM, John Ralls wrote:
> Did nobody read the footnote? The book was published in 1985, long before
> electronic payments became widely available. No doubt the 2020 edition would
> say something like
On 7/26/2020 11:39 AM, John Ralls wrote:
Did nobody read the footnote? The book was published in 1985, long before electronic
payments became widely available. No doubt the 2020 edition would say something like
"independently documented transfer" with a mention somewhere that that used to
> Incidentally, the textbook also says that checks should ideally require
two signatures. I don't know how to impose that control over electronic
transfers
I'm a trustee of a tiny charity in the UK, and our treasurer's account
with Lloyds Bank allows for this.
X sets up the transfer, then Y logs
> On Jul 25, 2020, at 9:13 PM, Liz Dodd wrote:
>
> On Sat, 25 Jul 2020 15:04:22 -0500
> "w...@theprescotts.com" wrote:
>
>> Your suggestion about a second person to handle the cash is a good
>> idea. One of my longstanding complaints has been that no one ever
>> looks at any of the finances
> Here's what my accounting 101 textbook says about cash receipts:
>> * All cash receipts should be deposited intact in the bank... Cash
disbursements should not be made from cash receipts but only by check or
from petty cash.
lol Do the accountants want to handle the books for all community
On Sat, 25 Jul 2020 15:04:22 -0500
"w...@theprescotts.com" wrote:
> Your suggestion about a second person to handle the cash is a good
> idea. One of my longstanding complaints has been that no one ever
> looks at any of the finances except me. We are a group of about 300
> members with maybe 20
Will,
I think it is a case just of not only doing the right thing but being seen to
do the right thing. All is OK until
someone with an axe to grind sees the books when they are not yet in a
completed state. It is your protection against
accusations of fraud or misappropriation of funds etc.
Your suggestion about a second person to handle the cash is a good idea. One of
my longstanding complaints has been that no one ever looks at any of the
finances except me. We are a group of about 300 members with maybe 20 that take
an active role in the organization. There is too much to do
Here's what my accounting 101 textbook [1] says about cash receipts:
* A record of all cash receipts should be prepared as soon as the cash is
received.
* All cash receipts should be deposited intact in the bank, preferably by the
next business day. Cash disbursements should not be made from
As I said earlier, I am not an accountant just a volunteer keeping the books
for a couple of groups. Michael comments:
"and NOT currency sitting around undeposited (of course don't do THAT)."
I do do that and wonder why it is a bad idea. I frequently get incoming cash,
mostly from T-shirt
I am going to jump in here because I strongly disagree with a lot of
this. I have used gnucash quite successfully with non-profits. But they
have different needs.
a) "Petty cash" is NOT "undeposited cash". And that's not what is
usually meant by "undeposited cash. Thus NOT the little
> On Jul 24, 2020, at 10:59 PM, jean laroche wrote:
>
> Perhaps the developers (including me, in a modest manner) could then discuss
> whether these would be easy to add/fix. Perhaps these features have been
> discussed in the past? Job costing, in particular, may not be that hard to
>
Bruce, what procedure are you using to search for the un-posted invoices?
Regards,
Adrien
On 7/25/20 9:58 AM, Bruce Irving via gnucash-user wrote:
One of my nits to pick is the AR module: if I create an invoice without
posting it, I can't find it unless I look at each of my 100+ members.
Very interesting conversation.I supposedly learned Job Costing in Business
school in the 70s. 30 years later, I wound up with an employer that used it -
or rather his Accounting system did as still understand it. But I survived.
Now I'm using GnuCash for a non-profit which isn't required to
On cash...
I agree with Don's comments and concerns about cash accounting. I live and work
in Mexico where it is not uncommon for people to insist on cash to the point of
not accepting a debit card. For major expenses, I will use an ATM to get nearly
the exact amount for those expenses and
Thanks Will, Jean, and John for your jumping in, and your many good points
in response to my posting.
To Jean, yes, most important to me would be development of Job Costing,
because then many/most nonprofits could be served (which must be able to
track restricted grants) and both non-profits and
When I saw this come up, I avoided jumping in since I'm not an accountant;
however, I have been treasurer for a couple of nonprofits, including one which
are subsidiary of a large nonprofit.
a. the expectations of any software to fit most issues is high. The treasurer
is almost always going to
Thanks for the very detailed analysis of Gnucash's shortcomings for
nonprofits (and other businesses).
I'm not an accountant either, barely a computer scientist.
If I were to summarize the areas where GC falls short, it seems to me GC
is missing:
- Support for Job Costing
- Cash Flow reporting
I have a few comments on this long post. I will preface it by admitting that I
am neither a tax attorney nor an accountant. I have kept my personal accounts
in GnuCash for many years. I am the treasurer for two non-profits, or more
accurately, two subsidiaries of one non-profit. But neither of
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