Bookstore Processing Procedures (1/6/2008)

Transcription

1 Bookstore Processing Procedures (1/6/2008) Bookstore orders are processed by Richard Smith, MHA Administrator Bookstore orders are initiated by customers in two ways: 1) Directly through MHA Administrator by phone, letter or 2) Indirectly through PayPal from website Direct Orders are paid by check or by credit card through the MHA merchant account. 1) PROCESSOR deposits sales by check once a week via USPS into the MHA checking account and s a copy of check(s) and breakdown of each sale (materials, shipping & handling) to (MHA-Accounts@comcast.net) via a pdf file labeled as follows: Year.Month.Date ( ) BA (bank account) Amount (total amount in brackets) Customers (last name) Example: BA {150.00} Hargrave, Senf, Padgitt, ect. 2) PROCESSOR processes credit card payments once a week using the MHA credit card terminal and s a copy of credit card receipt(s) showing only the last 4-digits of the card number and breakdown of each sale (materials, shipping & handling) to (MHA-Accounts@comcast.net) via a pdf file labeled as follows: Year.Month.Date ( ) MA (merchant account) Amount (total amount in brackets) Customers (last name) Example: MA {150.00} Hargrave, Senf, Padgitt, ect. Indirect Orders are credit card orders processed through PayPal from the MHA website. 1) PROCESSOR accesses MHA online PayPal account 2-3 times each week and downloads the detailed order reports that have arrived since the previous download. 2) PROCESSOR fills the order and s a copy of each detailed order report which shows the breakdown of each sale (materials, PayPal service charge, shipping & handling) to (MHA-Accounts@comcast.net) via a pdf file labeled as follows: Year.Month.Date ( ) PPD (PayPalDetail) Amount (total amount in brackets) Customers (last name) Example: PPD {150.00} Hargrave, Senf, Padgitt, ect. 3) PROCESSOR makes EFT transfers from the credit card deposits in the PayPal account into the MHA bank account (First National Bank of Litchfield) in $400 to $600 increments and s the transfer report to (MHA- Accounts@comcast.net) via a pdf file labeled as follows: Year.Month.Date ( ) PPT (PayPalTransfer) Amount (total amount in brackets) Customers (last names) Example: PP {150.00} Hargrave, Senf, Padgitt, ect. 4) PROCESSOR generates a PayPal history report of each transfer into the MHA bank account and the individual sales which make up the amount of the

2 transfer and then s the history report to via a pdf file labeled as follows: Year.Month.Date ( ) PPH (PayPalHistory) Amount (total amount in brackets) Customers (last names) Example: PPH {150.00} Hargrave, Senf, Padgitt, ect.

3 Bookstore Bookkeeping Procedures (1/6/2008) Bookstore bookkeeping is handled by Accounting Solutions in Charlottesville VA Bookstore bookkeeping involves procedures for the following deposits & transfers and is handled on a bi-weekly basis. 1) BOOKKEEPER downloads from MHA-Accounts@comcast.net all transaction records into the MHA accounts receivable file, via a VPN connection, from Accounting Solution s office in Charlottesville, onto Mid-Atlantic Masonry Heat s secure file server. 2) BOOKKEEPER enters direct orders paid by CHECK into QuickBooks as follows: Open the bank deposit (BA) document in MHA accounts receivable Open QuickBooks Invoice window and CHANGE the date field to the deposit date. b) If Customer:Job Not Found window comes up select Quick Add button c) In Class field select Bookstore d) In Terms field select Check e) In Item field(s) select each item(s) being purchased and check to be sure the price & description that comes up is the same as the price on the transaction detail provided by the PROCESSOR (Richard Smith). f) In Item field enter the shipping amount from the transaction detail provided. g) In the memo field enter Combined Deposit $(Total Amount) h) Save the Invoice If Name Information Changed window appears select the Yes button Open Receive Payments window and CHANGE the date field to the deposit date (if necessary) b) In amount field enter correct payment amount. c) In Pmt. Method field select Check d) In Reference # field enter the check number e) In the memo field enter Combined Deposit $(Total Amount) f) In Deposit to field BE SURE that First National Bank Litchfield is selected g) Save the Deposit and check to see that the Invoice registers as being PAID Close the deposit document a) Add the invoice(s) number(s) to the end of the document label as SI (sales invoice) (dash) Number(s) Example: BA {150.00} Hargrave, Senf, Padgitt SI-101 to 103 b) Move the deposit document from MHA accounts Receivable file to Confirmed file 3) BOOKKEEPER enters direct orders paid by credit card through MHA MERCHANT ACCOUNT into QuickBooks as follows: Open the merchant account deposit (MA) document in MHA accounts receivable Open QuickBooks Invoice window and CHANGE the date field to the deposit date. b) If Customer:Job Not Found window comes up select Quick Add button c) In Class field select Bookstore d) In Terms field select CreditCard

4 e) In Item field(s) select each item(s) being purchased and check to be sure the price & description that comes up is the same as the price on the transaction detail provided by the PROCESSOR (Richard Smith). f) In Item field enter the shipping amount from the transaction detail provided. g) In the memo field enter Combined Deposit $(Total Amount) h) Save the Invoice If Name Information Changed window appears select the Yes button Open Receive Payments window and CHANGE the date field to the deposit date h) Select customer:job field and type in Last Name Comma Space-First Name (if necessary) i) In amount field enter correct payment amount. j) In Pmt. Method field select Credit Card k) In Reference # field enter the credit card transaction number (6-digits). l) In the memo field enter Combined Deposit $(Total Amount) m) In Deposit to field BE SURE that First National Bank Litchfield is selected n) Save the Deposit and check to see that the Invoice registers as being PAID Close the deposit document c) Add the invoice(s) number(s) to the end of the document label as SI (sales invoice) (dash) Number(s) Example: MA {150.00} Hargrave, Senf, Padgitt SI-101 to 103 d) Move the deposit document from MHA accounts Receivable file to Confirmed file 4) BOOKKEEPER enters indirect orders paid by credit card through PAYPAL into QuickBooks as follows: Open the PayPal deposit detail (PP) document in MHA accounts receivable Open QuickBooks Invoice window and CHANGE the date field to the deposit date. b) If Customer:Job Not Found window comes up select Quick Add button c) In Class field select Bookstore d) In Terms field select PayPal e) In Item field(s) select each item(s) being purchased and check to be sure the price & description that comes up is the same as the price on the PayPal detail transaction report provided by the PROCESSOR (Richard Smith). f) In Item field enter (SHIPPING ITEM) and the shipping amount from the transaction detail provided. g) In Item field enter (PAYPAL ITEM) and the PayPal service charge as a NEGATIVE amount from the transaction detail provided. h) Check to determine if the total invoice amount matches the net due amount on the PayPal transaction detail report. i) Leave the memo field blank j) Save the Invoice If Name Information Changed window appears select the Yes button k) DO NOT pay the invoice at this time. Leave unpaid until the payment is transferred from PayPal to the MHA bank account Close the PayPal detail transaction report document Add the invoice(s) number(s) to the end of the document label as SI (sales invoice) (dash) Number Example: PP {50.00} Hargrave SI-106

5 5) BOOKKEEPER enters invoice payments paid by credit card through PAYPAL into QuickBooks as follows: Open the corresponding PayPal transfer (PPT) & history (PPH) documents in MHA accounts receivable (dates & amounts should be the same on both) a) Verify that the amount on the transfer report is listed in the history report. b) Verify that the names listed on the label of the transfer report document are listed in the history report and that the total amount of the names listed matches the total amount of the transfer report. Open QuickBooks Receive Payments window and CHANGE the date field to the transfer date o) Select customer:job field and type in Last Name Comma Space-First Name (if necessary) p) In amount field enter correct payment amount. q) In Pmt. Method field select PayPal r) In Reference # field enter EFT s) In the memo field enter Combined Transfer $(Total Amount) t) In Deposit to field BE SURE that First National Bank Litchfield is selected u) Save the Deposit and check to see that the Invoice registers as being PAID Close the transfer & history documents Move the deposit document from MHA accounts Receivable file to Confirmed file

6 Bookstore Accounting Procedures (1/6/2008) Bookstore accounting is handled by Douglas Hargrave, MHA Treasurer Bookstore accounting involves entering & reconciliation for the following deposits, payments & transfers and is handled on a monthly basis. 1) ACCOUNTANT reconciles bookstore bank deposits, bookstore merchant account deposits and PayPal transfer deposits with the monthly bank account statement. 2) ACCOUNTANT prorates merchant account charges between general admin & bookstore accounts. 3) ACCOUNTANT writes checks for bookstore expenses 4) ACCOUNTANT enters & reconciles bookstore expenses charged to the MHA vendor credit card by MHA Administrator-Richard Smith. 5) ACCOUNTANT prepares a monthly income & expense statement for the MHA bookstore enterprise. 6) ACCOUNTANT reconciles the physical inventory with the QuickBooks inventory on a quarterly basis.