BP 11122023 129pm - Flipbook - Page 61
The following contains a brief explanation of the checklist of financial reviews that should be
performed at each parish, mission, or campus ministry centers, and what to look for in the
review. Each reconciliation/report reviewed should be evidenced with a signature and date of
the review on the totals page.
Weekly Reviews
Count: Agree the bank deposit slips to the count summary sheet.
Biweekly Reviews
o Pre- and post-processing of payroll by signing totals pages: review should take place each
time payroll is processed. Check to ensure that only those that should be paid are.
Review for accuracy. Consider having a list of employees and their net pay and
comparing it to the PayChex reports. Investigate variances. Also, compare the preprocessing report to the post-processing report for changes.
Monthly Reviews
General Review
o Balance sheet and Income Statement: compare actual to budget for reasonableness.
o Manual journal entries, including write offs.
o Checking account & D&L Reconciliations: Tie the balances per the bank reconciliation
to the bank statement and the ParishSoft Accounting Statement of Position. Determine if
other reconciling items are reasonable and deposits-in-transit have cleared.
o Monthly check register and monthly detail trial balance: Look for unusual items,
duplicate payments, checks outstanding greater than 90 days, checks written to
employees and to cash. Also, look for payments to employees that should have been run
through payroll and to individuals that are 1099 eligible.
o Online giving: Confirm all online donations remittances (a summary for remittances can
be printed from your online vendor, such as Our Sunday Visitor, Vanco, etc, for each
month) were correctly deposited into the parish bank account and a portion was not
routed to another bank account.
o ParishSoft Family Suite posted contributions: Agree to the ParishSoft Accounting bank
deposits. We recommend this be performed using year-to-date numbers to ensure no
changes were made to a pr: spot checkior reconciled period. Adjusting items should be
reasonable. Most should relate to timing differences between when the donation is
recorded in the ParishSoft and when the deposit is actually made and recorded in
ParishSoft Accounting.
o Parish Soft Family Suite Audit Report: review to determine who has posted to PSFS.
Look for unusual transactions.
o Mass stipends: review for reasonableness.
o Check Receipt Books: spot check and trace to deposit
Quarterly Reviews
Balance sheet and revenue accounts should be reconciled periodically in writing and reviewed
for existence, completeness, and accuracy. The reconciliation should compare ParishSoft
Accounting to the sub-ledger, including Parishsoft Family Suite, Preschool software (Procare,
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