[SchoolFinance] Postage

[Sue Lambert]

So you code it as an asset under prepaid expense which could serve the same
purpose I think. Yes, we are the centralized postage for the district so
monthly charges are made to each cost center but at year-end it seemed like
if there was $2,000 in there it should be declared differently and not
charged to postage when it hadn't been expended yet.

Thanks
~Sue
Sue Lambert
MSAD #49
Accounting Coordinator
8 School St
Fairfield,  ME 04937
207-453-4200 x3109
207-453-0110 FAX
For in-district direct dial: 3109





On Wed, Dec 13, 2023 at 9:45 AM Amy Atherton <
aeatherton at ellsworthschools.org> wrote:

> Hi Sue - We have started recording it as prepaid postage and then applying
> it to the expense accounts monthly (based on the reports from the machine)
> as it is used since we share one machine that gets used by several
> different departments.  So we will have a balance in the prepaid postage
> account at year end representing the unused balance in the meter.
>
>
>
> Amy Atherton, CPA
> Accounting Manager
> Ellsworth School Department
> 207-664-7100 ext. 1105
>
>
> On Wed, Dec 13, 2023 at 9:39 AM Sue Lambert <slambert at msad49.org> wrote:
>
>> Does anyone keep a general ledger account that represents the amount of
>> postage that is in the postage machine but unused, especially for year-end?
>>
>> If so, do you code that as "cash on hand" 10000.0000.0000.11020.000
>>
>> Or do you just try to keep the balance low at the end of the fiscal year
>> so that it is immaterial?
>>
>>
>>
>> ~Sue
>> Sue Lambert
>> MSAD #49
>> Accounting Coordinator
>> 8 School St
>> Fairfield,  ME 04937
>> 207-453-4200 x3109
>> 207-453-0110 FAX
>> For in-district direct dial: 3109
>>
>>
>>
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>> SchoolFinance mailing list
>> SchoolFinance at maillist.informe.org
>> http://maillist.informe.org/mailman/listinfo/schoolfinance
>
>
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