BP 11122023 129pm - Flipbook - Page 16
Bank Statements: Unopened bank statements should be given to the individual responsible for
reconciling the bank accounts.
Outstanding Checks: Outstanding checks that have not cleared the bank for more than 90 days
should be researched and voided and reissued, if necessary. The Georgia Disposition of
Unclaimed Property Act should be followed. See https://dor.georgia.gov/georgia-unclaimedproperty for more information.
Non-sufficient funds (NSF): Follow up immediately on NSFs, resolve and adjust in both the
general ledger and the contribution database.
Reconciliation Review: An independent party, such as the principal, pastor, or a finance council
member, should review all bank reconciliations monthly. The review should include: agreeing
deposit documentation to bank validated deposits, sampling cancelled checks online and
reviewing endorsement, comparing electronic payments to invoices for accuracy and
authorization, reviewing miscellaneous deposit debits/credits, cash transfers, and ensuring old,
outstanding items are resolved. Electronic copies of cancelled checks should be available to
allow for review of endorsement. Packet of documentation reviewed should be retained
according to the record retention requirements.
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