B R A D ' s     ON L I N E R     M E M O- - -

         TO:  Interested Onliners                                                                                                     FROM: Brad Pendable - CFO
                                                                                                                                                                        
    
         RE:  "Internet Friendly" "eFinFax" Sequential Steps                                                ORIGINATED:  February 2008                 

  Below are some recommended sequential steps as you set up and use the "Internet Friendly"  eFinFax system for a new or beginning Small Ministry

    01> The Board appoints a Treasurer and establishes a Ministry Finance Team - MFTeam
    02> They also determine some basic written Finance Polices/Procedures
    03> They arrange for checks to be signed by two non Bookkeepers etc -- Online Payments - signatures
             not needed; since the purchase has already been OKed         
    04>  Use  Credit Cards  for all possible purchases - Ask for more info about how volunteers buy in this way.
    05>  Conclude how to account for Special Purpose Funds -SPFunds and establish initial
             General Purpose Fund - GPFund  Budget
    06>  Arrange to use the eFINFAX system via  QuickBooks (QBs)  Computer system like
    07>  If Church, establish and arrange for a Counting Team.

If Non Church, establish cash inflow handling methods and procedure -- Ideally not done by bookkeeper

    10>  Establish a remote Bank Account at  ECCU -
    11>  Obtain copies of original and duplicate checks that you produce manually - not via QBs
    12>  Arrange to make ECCU deposits at a local "Bank of America - B of A" branch
    13>  Obtain "B of A" deposit slips, etc.

Establish a computerized combined Donation/Mailing system -

    20> Set up a Credit Card Account via ECCU (VISA)
    21>  Make Bookkeeping arrangements
    22>  Conclude the two check signing Board Members
    23>  Arrange for a possible initial  Petty Cash Account - as set up via a written check
    24>  Determine your non-calendar year  Fiscal Year

Establish/Set up at least the weekly Clergy Payroll system

    30>   Make use of the post dated payroll check draft method

    40>   Set up an old version of QBs Pro and make full use of Fund Acctg  Method one
    41>   Set up original infrastructure/Chart of Accounts via the QBuxBox system
    42>   The MFTeam/Board establish specific QBuxBoxes and related priorities
    43>   Process all checks weekly - and later attach duplicate to hard copy of Bank Statement

Process Deposits -- make posting to DonaMail System

    50>  Counters provide Bookkeeper with deposit breakdown by applicable account total

Online resources

    60>  Go Online to ECCU each Wednesday/Thursday and make a hard copy of Bank Statements
    61>  And then go Online weekly and pay off the balance of the Credit Card (CrCard) statement -  there
             is no need to post the CrCard transaction to a liability account and then reconcile it to the CrCard
             Statement or its equivalent.
    63>  Go Online to ECCU each Tuesday and make hard copy of Bank Statement
    64>  Attach duplicate copy of checks and related documentation
    65>  Post  only the  transactions appearing on the Bank Statement to the QBs system.
    66>  Distribute to applicable QBs Accounts from Deposit Info
    67>  Distribute to applicable QBs Accounts from Check Info
    68>  Distribute to applicable QBs Accounts from Tuesday's CrCard Online Payment via hard copy of
             CrCard Statement
    69> The Balance on the Bank Statement always agrees with QBs Bank Balance  -  no need to Bank Reconcile etc

Within the  eFINFAX  system you pay off the Credit Card debt weekly or monthly.

Provide leaders with weekly Photo which has no unpaid operational bills, etc.

Provide leaders with other periodic reports like GPF Actual to Budget report  and the monthly Big Pix. 
Ask us for needed additional information about any of these.

    We, of course, provide you with additional www.rpfin.org content as listed when you go to our Sitemap 

                                                               UPDATED LAST:    March 10, 2011

                                                                              Fresno, California
                                         Please contact CFO Brad Pendable by Email at   Brad@rpfin.org  

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