ON L I N E R M E M O- - -
TO: Interested Onliners FROM: Brad Pendable
RE: Transaction (Tranx) Coding and Processing ORIGINATED: December 2008
Objective:
When Deposits are made, or purchasing is done via Credit Cards, or when payments are made via Checks or Online payments, it is ESSENTIAL that such transactions (tranx) get appropriately coded according to the Ministry's Chart of Accounts and passed on for accounting and reporting purposes.
People Involved:
Tranx Originator, or the "ORIG" person --- This is the one (often an assistant or even a spouse) who writes the checks, does the purchasing via Credit Cards and also makes the deposit to the Bank. As detailed further on, this ""ORIG" also does the Chart of Accounts" coding so that the "PROC" below does not have to do any guessing.
Tranx Processor, or the "PROC" person -- This is the one who usually functions remotely as they preferably make full use the eFINFAX Accounting System. Or this person goes Online and makes full use of the ATF (After the Fact) features as they obtain the Bank Statement and the Credit Card Statement transaction data (some electronically and others manually) and sees that such transactions are properly coded for the appropriate BuxBoxes within the eFINFAX Accounting System. The ""PROC" (normally the Bee Tee) then sees that the SPENDER (the above "ORIG" ) has Reports so they know how much money there is to spend . The SPENDER can often do much of this directly via their Laptop-Internet resources, but it is often done via Email.
In order to appropriately do all of this the ""ORIG" must, at the agreed time each week, provide the ""PROC" with the Chart of Accounts" coding for each tranx. Again, it is possible to make use of Laptop-Internet resources, but the usual way is to provide this to the ""PROC" by the Email process like the steps below.The Depositor ""ORIG"
>> This person manually completes a weekly pre-numbered printed out form (often produced via a Word or Excel) and manually posts info therein that includes : 1> Date 2> Chart of Accounts" code 3> Amount 4> Total deposit . Attach copies of the deposit slip etc and then timely (at a specific time of the week) -----
>> Completes either an Excel or Word doc form with the above data ----
>> And sends this completed doc via Email to "PROC" as a Email attachment ---
>> Or sees that some one gets this information to the "PROC" as a Email attachment.The Spender or Buyer ""ORIG"
>> This person also manually completes a weekly pre-numbered printed out form. One for Checks and a separate one for Credit Card purchases. This person attaches the copy of the check and/or the Credit Card slip. They Input the needed info into an Excel or Word doc which provides: 1> Date of 2> Chart of Accounts" code 3> Check number (when applicable) 4> Amount 5> Total of the Check or CrCard purchase amount. Attach copies of the check and CrCard slips and ---
>> Then timely (specific time of the week) either completes either an Excel or Word form with the above data ---
>> And sends this completed doc via Email to ""PROC" as a Email attachment ---
>> Or sees that some one gets this info to ""PROC" as a Email attachment.
Let me know at Brad@rpfin.org if you have any questions.
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Fresno, California
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