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).

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

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

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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).

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

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

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

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

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