Week 1 Week 2 Week 3 Week 4

Prior
Activity/Task Staff Responsible Activities 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Notes
Asset Account Analysis and Revenue Recognition Activities
Cash Accounts

Staff
1.1 Print cash receipts summary reports after final day's receipts are recorded

Senior Staff
1.2 Close cash receipts and post to General Ledger (GL) 1.1

Staff
1.3 Complete bank reconciliations for each cash account 1.2
Review and approve bank reconciliations; ensure all reconciling items have been Senior Staff
1.4 researched and properly resolved 1.3
Accounts Receivable

Prepare vouchers or invoices based on personnel and OTPS expenses allocated Staff
2.1 to government grants/contracts or restricted funds

Staff
2.2 Generate A/R Aging report
Review A/R Aging report and determine strategy for collection or write-off of Senior Staff
2.3 aging A/R 2.2
Post pledges receivable to GL and reconcile to balances per development Staff
2.4 department

Senior Staff
2.5 Reconcile to revenue reports from the development department and update GL 1.2
Prepaid Expenses
Establish pre-paid expenses (e.g., insurance, interest expense, etc.) to recognize Senior Staff
3.1 expense in proper month
Fixed Assets

Review new purchases made in the previous month to verify they have been Senior Staff
4.1 recorded properly with the correct depreciation schedule

Senior Staff
4.2 Review disposals of fixed assets and remove from fixed asset records

Senior Staff
4.3 Record depreciation expense for the current month
Investments

Senior Staff
5.1 Post interest and dividend income to GL

Senior Staff
5.2 Reconcile any investment activities for the period
Other Assets

6.1 Ensure any other asset accounts are current and reconcile as necessary Senior Staff

Accounts Payable / Liability Account Analysis

Senior Staff
7.1 Post payroll to GL
Accounts Payable (other than payroll)

Submit all employee expense reports (Including original backup documentation) Program Staff
8.1 and vendor invoices to finance

Review credit card statements and other reimbursement expense reports; Staff
match to supporting documentation for approved travel and other
8.2 reimbursement expenses; verify coding 8.1

Staff
8.3 Close A/P and post to GL 8.2

Senior Staff
8.4 Review A/P and other payables for possible accrual 8.3
 Week 1 Week 2 Week 3 Week 4
Prior
Activity/Task Staff Responsible Activities 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Notes
Notes Payable

As applicable, analyze notes payable accounts (e.g., notes payable for mortgages Senior Staff
or lines of credit) and post any unrecorded interest and principal outstanding;
9.1 reconcile to statements received from source(s) of financing
Other Liabilities

10.1 Ensure any other liability accounts are current and reconcile as necessary Senior Staff

Reporting
Financial Reporting Activities

Run preliminary budget-to-actual expense reports by department, program, and Staff all of the
11.1 contract above

Senior Staff
11.2 Review and analyze month-end financial data; record adjustments as necessary 11.1
Generate full final financial package and complete month-end financial Senior Staff
11.3 statements for executive team and board 11.2
Distribute appropriate reports to executive team, board, and program and Senior Staff
11.4 development managers 11.3

Senior Staff
11.5 Meet with appropriate management levels to discuss variances and projections 11.4

QUARTERLY Close Activities

Staff
Q.2 Reconcile 941 quarterly tax filings to GL 7.1

Senior Staff
Q.3 Review 941 quarterly tax filing reconciliations Q.2

Analyze net asset accounts to ensure net assets are properly classified as Senior Staff
unrestricted, temporarily restricted or permanently restricted, including
Q.4 releasing any restrictions that have been satisfied
(After issuance of financial statements)Conduct quarterly financial review Senior Staff
Q.5 incorporating senior leadership from finance, development and program 11.4