Don't let
your records get behind.
The best way to maintain accuracy in
bookkeeping is to keep it up to date. Even when expenses seem straightforward,
letting things slide for a week or two can create a lot of extra work when
trying to verify expenditure and earnings.
Don't throw
away receipts
It is important to keep receipts for a few
reasons. Of course, they are useful to maintain accuracy in the bookkeeping,
and they can also speed up answering any queries about the bookkeeping that
might arise.
Don't
connect personal and organisational accounts
Sometimes, particularly when a group is just
starting out, the desire to keep things 'simple' at the bank will entice
someone to use an account connected to a personal one. It is simpler only for a
very short time, and we strongly encourage that accounts begin and remain
separate.
Do reconcile
bank accounts
Allocate time regularly, perhaps weekly, to
make sure your records and the bank's records match up. That way, any
discrepancies can be caught early, and figured out before other problems
result.
Do share
responsibility with other members
For everyone's benefit, making sure the
financial matters of an organisation are overseen by more than one person is
critcal. Let at least two people bear witness to records and account
activities, so there is never any shadow of suspicion, or outright loss of money
within your organisation.
Do use up to
date accounting software
A system like Admin Bandit can make keeping
accurate books simpler and more time efficient. It is a small investment to
make for big returns, and can make the treasurer's job a lot easier, perfect for volunteer treasurers, who do not
always have an accounting background.
When bookkeeping procedures are followed
routinely, with appropriate technologies and safeguards in place to prevent
errors, theft or accidental loss, mistakes become minimal, often non-existent.
Then, a volunteer treasurer's role becomes simpler and much more enjoyable.
