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Manatee - End of Month Process – Quick Reference

Each month the bookkeeper must close the books in Manatee to begin working the new (next) month. The end of month process has three parts: confirm all information has been entered into Manatee, Reconcile the Proof of Cash/Bank Reconciliation, and Print/Send Reports.

Part I – Confirm all information has been entered into Manatee

1) Make sure all adjustments, receipts, and checks for the month have been entered. 2) Review the bank statement for interest charges, service fees, and non-sufficient funds

(NSF’s) and enter as adjustments in Manatee. 3) Review the bank statement for cleared checks and enter the cleared checks in Manatee.

STEPS 1-3 MUST BE COMPLETED BEFORE PRINTING THE PROOF OF CASH.

Part II – Reconcile the Proof of Cash/Bank Reconciliation

4) Print the Proof of Cash/Bank Reconciliation report and review the bottom row of numbers. If the bottom row has zeros across the bottom, you may proceed to step 5.

Note: The ending balance is automatically calculated by Manatee and should display the bank statement summary amounts. If not, reenter the bank statement summary amounts. There are some exceptions:1) NSF check(s) will show up at the bottom of the second and third column. 2) Deposit in transit that is coded with the last day of the month in Manatee, but recorded by the bank after the last day of the month. If this is the case, a copy of the validated deposit slip must accompany the signed copy of the proof of cash that is sent to Auditing. Call Auditing if you have any doubts or questions at the point BEFORE closing the month

If the bottom row has numbers across the bottom, refer to the Proof of Cash/Bank Reconciliation Trouble Shooting Guide at the end of this document.

Part III – Print/Send Reports

5) Index the files and review the trial balance to ensure that the cash account is in balance with the fund balance.

Note: Before going to step 6. Verify the month end macro criteria includes the Principal’s monthly report, adjustment journal, and transfer journal and the printer is stocked with paper to handle all the reports.

6) Execute the month end macro by pressing CTRL M. Note: This will automatically call up the location to save your electronic file and print the reports.

7) Request your principal to review and sign each of the reports: Principal’s Monthly Report – highlight any deficit accounts and

provide an explanation Adjustment Journal Transfer Journal

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8) Scan and email the signed reports, listed in the table below, to the Audit Department by the 15th of the month. In April, June, October, and January additional reports must be printed, signed, scanned and emailed to the Audit Department. Email scanned documents in two groups as instructed below. Note: Original documents should remain on file at the school.

Group 1: In one scanned document include the below reports in the following order:

1. Proof of Cash 2. Deposits in Transit 3. Outstanding Checks 4. Bank Statement

Label: School Bank Month Year ex. Fairfield Bank July 2019

Group 2: In one scanned document include the below reports in the following order:

1. Principal’s Monthly Report 2. Unpaid Bills Report 3. Fundraiser Log 4. Petty Cash Log Reconciliation

Label: School Reports Month Year ex. Fairfield Reports July 2019

Group 1 Group 2 Closing Month

Proof of Cash Deposits in Transit Outstanding Checks

Bank Statement

Principal’s Monthly Report

Unpaid Bills Report

Fund Raiser Log

Petty Cash Reconciliation

Due Date

Dec Jan 15 Jan Feb 15 Feb Mar 15 Mar Apr 15 Apr May 15 May Jun 15 Jun Jul 15 Jul Aug 15 Aug Sep 15 Sep Oct 15 Oct Nov 15 Nov Dec 15

* Extra steps are required for the June closing. An email will be sent in May addressing these steps.

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MAS - Proof of Cash/Bank Reconciliation Trouble Shooting Guide

A bank reconciliation – proof of cash report compares the information received from the monthly bank statement to the information in Manatee. Ideally, the bank’s information should match Manatee’s information, therefore, all items are reconciled (all zeros at the bottom of the report). Sometimes numbers at the bottom of the report are accepted as long as a valid explanation is provided.

What to do if you have unreconciled items/numbers: 1. On the Proof of Cash, review the balances per bank statement row and compare to the

summary on the bank statement. If they do not agree, rerun your proof of cash with the correct numbers.

2. On the proof of cash review the unreconciled items row and identify which columns are not

reconciled. Each column has different procedures to resolve the issue. In the below example the receipts, disbursements, and balance columns are out of balance.

Unreconciled Receipts Next Steps: Verify all receipts have been posted. Review deposits

o Run the deposit report for the entire month Reports -> Cash Receipts -> Deposits Register Verify that all deposits ($0010, PayForIt, Local Level) recorded by the bank equal

the amounts on the deposit report. If there are any differences between the bank statement and the deposit report,

calculate the difference and write the amount of overages/shortages next to the deposit date. Repeat this step for all deposits. Next, enter all overage/shortages as an adjustment.

Review bank statement o Review the bank statement for interest earned, service fees, and/or non-sufficient funds

(NSF) and enter as an adjustment. Review adjustments

o Run the adjustment journal for the entire month Reports -> General Accounts, Transfer/Adjustment Journal Verify adjustments were entered correctly.

A receipt adjustment should always be in the receipt column.

Manatee Books ->

Bank ->

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Unreconciled Disbursements Next Steps: Review disbursements made to $0010

o Run the cleared check list Disbursements -> Bank Reconciliation -> List Cleared Checks

Compare the bank statement to the list cleared checks o Verify amounts match the bank statement o Verify check has actually cleared

Review adjustments o Run the adjustment journal for the entire month

Reports -> General Accounts, Transfer/Adjustment Journal Verify adjustments were entered correctly.

A disbursement (check) adjustment should always be in the disbursement column.

Reconciling Proof of Cash Example

The report shows unreconciled items.

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Step 1 Compared the summary of the bank statement to the balances per bank statement on the report. All numbers matched.

Step 2 Printed the deposit report and compared it to the bank statement. Made checkmarks (confirming the deposit is in MAS) and totaled the deposits on same day on the bank statement.

Wrote the amount of overages/shortages on the deposit report.

Step 3 Recorded adjustments for overages, shortages, teacher allotment and interest payment.

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Step 4 Ran the Proof of Cash to check unreconciled items.

ACH