Daily Check deposit procedures - incoming checks (needs updating) Print

Modified on: Mon, 15 Aug, 2022 at 2:01 PM


Checks that arrive in the mail may be for payment of member dues, partner royalties, classified and/or print advertisements, event-related reimbursements from Board members, regional newsletter production costs, or a variety of other things for which payment is due to NYSVMS. In some cases, but not all, invoices already exist that can be matched up with incoming check payments. For checks you don't recognize, just ask the other staff members if they know what the check is for – somebody will have the answer.

Checks must be opened and deposited by a different person than the person who records them in quickbooks.

  • They should be deposited daily, unless the amount is below $1,000 in which case every two days is acceptable.
  • Separate check from any attached information and copy the face of the check
  • Staple together the copy of the check, anything separated from the check prior to copying, invoice (create/print one if necessary) and any communications or explanatory paperwork that can serve as backup documentation for the check.
  • Place check in the blue zippered pouch in safe, for keeping until bank deposit is made.
  • If income needs to be processed through YM go ahead and do that. Then mark the date of processing and your initials right on the invoice in the stapled stack.
  • Place backup documentation in "next deposit" folder until bank deposit is made.

  • After depositing a package should be put together for the bookkeeper(25th hour) which will include:
  1. The deposit slip
  2. A "YourMembership" report "Check Deposit report - v1-4-19-2 "  (see notes on running the report) in excel that shows all the invoices associated with the checks entered that day. The total of that report should match the deposit slip. If any checks do not go through YM or are for non-dues items add them below the YM transactions so that the total matches the deposit slip amount.
  3. The copies of the invoices and backup materials described above.

The package should be scanned and then uploaded to this folder on dropbox. A hardcopy should also be filed onsite.

The report should look like the below


to edit the report to match the day

When you open the report you will see the query box
Just click on the blue pencil by "created date" and select the current date
It is important to click on the 'save" icon (which looks like a 1990s diskette) before proceeding to the report



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