Closing your Financial Year & Transitioning to the Next Treasurer

Procedures for closing your financial year and transitioning to the next treasurer:

  • Pay all outstanding bills
    • Banking
  • Complete your bank reconciliations for the financial year(s) you are responsible for
    • Banking > Reconcile
  • Print final reports for the old year and store them in a binder
    • Reports
  • Update/assign 990EZ codes (if required to file this form by the IRS) 
    • Budget > More
  • Print the 990EZ report (if required to do so by the IRS) 
    • Reports > 990EZ Report
  • Update your user list (those folks who have access to MoneyMinder). Add the incoming treasurer as a user.
    • People > Manage Users
  • Conduct a financial review of your books (sometimes called an audit)
  • Obtain a new signature card from the bank, sign and submit so the new treasurer has authorization to sign checks.

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