These are the steps to take each month as finance lead. This process worked for [XXX] - you may want to change it!

There is a template task with subtasks set up in Asana to reflect these steps.

We work with Third Sector Accountancy

• [XXX] is our bookkeeper. [XXX]:
  • pushes invoices from Dext through to Xero and makes assumptions about coding
  • reconciles Xero with the bank account
• [XXX] is our accountant. [XXX]:
  • updates the actuals in our budget sheet, ensuring this matches Xero
  • leads the process to prepare our annual accounts
  • provides advice and guidance on accounting questions

1. Provide any missing information

Ask [XXX] bookkeeper to send you the missing information report as soon as possible after the end of the month.

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Missing information: transactions through the bank for which there is no invoice or receipt uploaded to Dext and/or which [XXX] is not sure how to code

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Add the correct account code and tracking category for each transaction to the report

• Ask Directors to upload receipts or forward paperwork to [XXX] for any of their transactions. Add this to the report

NB: You can tell who made the purchase based on the Debit Card number

Remember, our policy is to provide receipts for everything, but where it’s not possible or time consuming, it’s okay for transactions under £50 not to provide a receipt (as outlined in our expenses policy). Add ‘no receipt’ to the report.

2. Provide a bank statement

Export a bank statement from online banking in CSV format for a date after the end of the month. [XXX] bookkeeper will then check that the balance matches with Xero and confirm this with you.

3. Check all transactions have been coded and tracked correctly

Once you’ve confirmed how to code the transactions on the missing information report, ask [XXX] bookkeeper to send you the full transactions list. You don’t need to wait for receipts to be provided before doing this.

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Transaction list: A report showing all transactions for a calendar month. They are sorted by account code and the tracking category is also shown.

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• Check that everything has the correct account code - refer to the budget sheet
• Check that everything has the correct tracking category - refer to the budget sheet
• Email [XXX] bookkeeper with a list of requests to change the account code and/or tracking category