Accounting Procedures

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DIYode is currently using GnuCash for our Book keeping. These are the procedures to keep the books current.


Export Settlement Summary from Beanstream

Log in to Beanstream and go to left menu option "reporting|Settlement Summary"
Set the "Start" and "End" dates. Usually a complete month. Click "Refresh"
Download the XLS file to someplace handy.
The file saves has an XLS extension but internally it is actually a CSV. Change the file extension before you continue.

Import Transactions from Beanstream into GnuCash

Import Transactions from CSV - Choose the beanstream "Settlement Summary" file

  • Change Separator to "Tab"
  • Start import on row = 2
  • Set the 'Date Format' to d-m-y
  • Change the column details as follows:
    • Settlement_date = Date
    • daily_balance = Withdrawal
    • date = Num
    • merchant_name = Description
  • Account Selection = Income|Member Dues|Beanstream|Settlement

There will be errors. Select "Skip Errors"

Importing CIBC online bank data to GnuCash

  • Log in to CIBC online banking.
  • Under |My Accounts| do |Download Transactions|
  • Use |All within Date range| - specify the date range you need and select "Intuit Quicken" as your financial software.
  • Click Download and put the file somewhere safe.
  • open gnuCash. File->Import OFX/QFX
  • The 'Generic Import transaction matcher' will open.
    • The transactions should 'autoreconcile' and will have a 'check-mark' in the 'A' column.
    • 'autoreconcile' won't be perfect. You will have to examine 'CIBC Business Account' and make any changes needed.
    • If you cannot determine what the transaction is, place it in 'Orphan-CAD' and investigate later.

Cash Dues

Enter all cash dues in to Income|Member Dues|Cash Dues.
Set the "Transfer" to Assets|Current Assets|Undeposited Funds.
Put all monies in to the 'Bank Deposit' envelope.

Bank Deposit

When you do a bank deposit you need to transfer the funds from the
"Undeposited Funds" account to the Business account.

  • Click on "Undeposited Funds"
  • Select Actions|Transfer.
  • Type in the "Amount" and set the Date.
  • Highlight Undeposited Funds CAD as the Transfer From account and
  • Highlight Checking CAD as the Transfer To account
  • Click OK.

This transfer should line up with the Bank Deposit book.

Expenses

When entering expenses put in a proper Description.
File receipt in expense folder for the month the expense was purchased.


Employee Expenses

Create an employee record if needed.
Business->Employees->New Employee

Create Expense Voucher for bulk Employee Expenses.
Business->Employees->New Employee Expense Voucher

  • Leave 'Voucher ID' blank.
  • Set date to date of Expense claim.
  • Select Employee.
  • Leave 'Billing ID' blank.
  • Add Notes if required.
  • OK

Voucher form opens.
Enter All expense details.

  • Put in date (if exact date is not know put end of month for expense)
  • Put in a valid Description
  • Enter proper action
  • Assign to the correct 'Expense Account'
  • Quantity is usually '1'
  • Unit price. enter total for expense.

Save the when completed.

  • If you still need to work on the voucher then do not Post.
  • If completed Post the voucher and it will show up in the chart of accounts. Put the 'Post Date' as the date the expense was re-imbursed.
  • It will be 'Posted' to the Liabilities account until payed.
  • You can then 'Pay Invoice'.

Verify invoice details. Then select proper 'Transfer Account'.

  • At this point gather all paper receipts and label them with the 'Voucher ID' and the payment date.