[SchoolFinance] Quickbooks

[Sue Lambert]

Adam,
We do not use Quickbooks but use Quicken which is a less robust version by
the same company. Quickbooks was used in our daycare program (now closed)
because it had more functionality to keep track of parents' charges and
payments and had the ability to send out invoices, year end statements etc.

For the activity accounts we did not need as much functionality and use it
mainly as a check writing, check register program for the activity funds
The checkbook balance is divided into categories (student activity,
principal account, library, alumni, etc) and each deposit and check is
assigned these categories so there is always a running balance report that
can be printed. At month's end they reconcile and then send a copy to the
central office. They include the reconciliation, the register & a summary
of all categories, all 3 should have the same balance, all 3 can be run in
Quicken.

We do a quarterly entry to our general ledger cash account for
activity funds and scholarship funds. For audit, the schools run a
register report and a cash flow report for the whole year, including the
details in each category.

It is supposed to work such that each category has someone "in charge" and
they are supposed to get a detailed printout of that fund each quarter. So
the librarian would get the library one, the principal, the activity funds,
the 6th-grade teacher would get the 6th-grade class trip one, etc. That way
someone besides just the secretary sees and approves of the activity.

One thing that used to drive us crazy and cause problems is when a check
was voided well after the audit was closed or after they had sent
their reconciliation and entries for us to make. We wouldn't always know
until the next quarter and after making entries our GL would no longer
balance.

We solved that by making the secretary start a new year each July 1. The
downside to that is it involves a bit of extra input........ they have to
enter the starting balance of each category and then also add the
outstanding checks as checks written 7/1/XXXX and then a credit memo for
the same dollar amount to the same category 7/1/XXXX. This means if they
void an outstanding check, they do it in the current year so it doesn't
mess with our ending balance that was confirmed by audit. The only time we
allow them to do the void in the prior year is if audit has not been
finalized and they contact us so that a journal entry can be made for the
void.

Our process also involves someone from the central office auditing the
school checkbooks quarterly on-site but COVID and short staffing have made
that a bit challenging at times.

If you want more info, feel free to reach out. I have wondered how ADS
Activity Funds or ERP Activity Funds (if they have one) work. We've never
tried either. The advantage would be that we don't have to worry about any
of the activity funds writing checks to 1099 companies.


~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 Tue, Nov 14, 2023 at 8:27 AM Adam Hanson <
ahanson at lewistonpublicschools.org> wrote:

> Hello,
> Are any of you using Quickbooks for your activity funds? If so, I would
> love to talk to someone who has a good understanding of how to use the
> program and get useful reports.
> Thank you.
>
> --
> Adam Hanson
> Controller
> Lewiston Public Schools
> 36 Oak Street
> Lewiston, ME 04240
> Phone: (207) 795-4100, ext. 4051
> Fax: (207) 795-4177
>
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