Expenses

Receipts

Each receipt submitted via email will have QuickBooks expense items created for each transaction. Expenses should have a "Payee" assigned to them. This refers to the vendor or company with which the transaction was made. If the "Payee" is not already in our Database, be sure to add it before saving. "Payment Account" should be set to "Credit Card - Corp" if one of the team's credit cards was used.  Expenses should be assigned to the appropriate account/category. Shipping and Tax should be split evenly among all accounts/categories if the transaction applies to multiple accounts. If the receipt has already been submitted, QuickBooks may mark it as Duplicate. 

My apps -> Accounting -> Receipts. 

Amazon

Any purchases made using the team's Amazon system will have their transactions imported automatically into QuickBooks. 

My apps -> Accounting -> Integration Transactions.

Reimbursements

When the team receives a reimbursement request, they will be treated as "Bills". We will create a new "Bill" and upload the reimbursement form and associated receipts. Bills should have a "Vendor" assigned to them. The "Vendor" field will be the person receiving the reimbursement.  If the "Vendor" is not already in our Database, be sure to add it before saving. Be sure to include all relevant information, such as but not limited to first/last name, email, number, address, and Name to print on the Check. Each item should be assigned to the appropriate account/category. Shipping and Tax should be split evenly among all accounts/categories if the transaction applies to multiple accounts. If the bill has already been submitted, QuickBooks may mark it as Duplicate. Do not mark the "Bill" as Paid; this will be done once the bill has been input into the bank website to have an e-check written. Each Reimbursement form should receive its own "Bill"

My apps -> Expenses & Bills -> Bills.

Income

Family Contributions via Donorbox

Family contributions should be made via Donorbox on the team website, at team691.org/donate. Stripe is the payment processor assigned to Donorbox and will aggregate a batch of donations and deposit them into the team's bank account every few days. These transactions will appear under the pending tab and should be assigned to the "2001 Parent Contributions" account/category. The 'from/to' field does not need to be filled out, as it is tracked separately via Donorbox. Currently, we do not have the Donorbox and QuickBooks integration set up. 

My apps -> Accounting -> Bank Transactions -> Checking.

Company Contributions

Companies usually utilize a 3rd party service to match their employees contributions to Non-Profit Organizations (NPOs) like Benevity. To locate the login to these sites, visit the team vault for login details. If multiple companies are included in each of these deposits, the "received from" field should reflect the company organization contributing the funds. These contributions should be assigned to the "2003 Company Contributions" account/category. 

Depositing Checks

Checks should be payable to ‘Project 691 Robotics’ and provide it to a Coach at any of our meetings. The coach should provide the check to the non-profit treasurer, who will deposit the check with the organization's bank. A copy of the check, if possible, should be scanned or attached to the deposit entry on QuickBooks along with any stipulations that may come with the donation. The "received from" field should reflect the company organization contributing the funds. These contributions should be assigned to the "2003 Company Contributions" account/category. Checks can also be sent to our mailing address below. 

Mailing Address:

Project 691 Robotics

23638 Newhall Ave, 

Ste 6, PMB 507

Newhall, CA 91321

Manual Deposits

FIRST Account

Some sponsors prefer to provide their funds directly to FIRST. When this happens, Coach 1/2 and Team Admin will receive an email when FIRST receives money on behalf of 691. These emails will be sent to the teams, the non-profit treasurer, and finance@team691.org. They will need to be manually added to QuickBooks. Search for Deposit in the QuickBooks search bar. Set the "Account" to be "FIRST 691". The "received from" field should reflect the company organization contributing the funds. These contributions should be assigned to the "2003 Company Contributions" account/category. 

Before the end of the fiscal year for FIRST (June), a re-grant must be submitted to retrieve any remaining balance in the account. 

firstinspires.org/regranting-process-procedures-and-w9

Depositing Cash 

Cash should be collected in extremely rare cases where it must be used. One example of cash would be selling team shirts during the showcase. This cash should be counted by an adult and then provided to the non-profit treasurer for deposit to the organization's bank. 

Reports

The two reports we should pull on a regular basis is the "Balance Sheet" and "Profit and Loss".

Reports -> Standard Reports