Closing your financial year & transitioning to the next treasurer

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

Pay & record all outstanding bills (Entering deposits & withdrawals).

Complete your bank reconciliations for the financial year(s) you are responsible for. (Reconciling your bank account).

Conduct a financial review of your books (sometimes called an audit)

Print final reports for the old year and store them in a binder (View reports).

Assign 990-EZ line numbers & print the 990-EZ report (if required to file this form by the IRS) (How to associate 990-EZ line numbers & run 990-EZ report).

Update your user list (those folks who have access to MoneyMinder). Add the incoming treasurer as an Adminsitrator. (How to add users to your account).

E-file your 990-N or 990-EZ. (How to e-file the 990-N & 990-EZ)

Obtain a new signature card from the bank, sign it, and submit so the new treasurer has the authorization to sign checks.

Set up the new financial year (Set up your new financial year).