Trinity Operating Procedures - TOPs

TOP-ACCTG: Accounting Activities and Analysis

Rev: 2/22/2019

Scope: This procedure covers basic accounting activities and analysis, based heavily on Made2Manage (M2M).

Procedure:

STEP	WHO	WHEN	INFO TO USE	WHAT TO DO
Accounts Receivable
A1	AR Clerk	Daily	Bank Report; Daily Deposit Report	Enter batch deposit total and customer detail records from Deposit Report into M2M, in Accounts Receivable, under Cash Receipts; post transactions by invoice
A2	AR Clerk	Daily	M2M Cash Receipts Register	Verify totals of daily activity using M2M Cash Receipts Register of invoices paid to the bank support
A3	CFO	Daily	Bank Report; Daily Deposit Report; M2M Cash Receipts Register	Review data accuracy, verifying proper cash application to customers and proper G/L account coding; post activity to General Ledger; file supporting documents for audit use
Accounts Payable
B1	Accounts Payable Clerk	Daily	Vendor invoices; M2M Receivers; Purchase Orders	Manually code miscellaneous charges not autocoded by M2M; enter Batch Vendor Invoice Total and Vendor Invoice detail records as received daily into M2M, in Accounts Payable, under Vendor Invoices; post transactions by invoice; file vendor invoice support for payment processing
B2	Accounts Payable Clerk	Monthly	M2M Vendor Invoice Register by Vendor; vendor invoice statement	Verify total monthly activity using M2M Vendor Invoice application to the vendor provided statements
B3	CFO	Daily	All Payables Spreadsheet; CashFlow Analysis Spreadsheet	Review data accuracy for aging and invoice selection for payment; determine total daily cash requirement for purchased services and product payments
Payroll
C1	Payroll Clerk	Daily	M2M; Time and Attendance data; Employee Time Cards  (hourly employees)	Verify time recorded for shift premiums and hammer premiums earned by the employee;  enter the premiums into Time and Attendance
C2	Payroll Clerk	Weekly	M2M; Time and Attendance data; Daily Labor Report Spreadsheet; Employee Time Cards (hourly employees)	Verify total weekly activity including use of PTO/Personal time, total hours worked and total overtime worked by employee; input and process payroll data; print checks
C3	Payroll Clerk	Twice a Month	Create automatic timesheets in Abra payroll system (salaried employees)	Enter date range for payroll; verify deductions; verify totals; print checks or create ACH deposit file for transmission for direct deposit. Send to CFO for approval.
C4	CFO	Twice a Month	Review/Approve	Review and approve Abra payroll system.
General Ledger
D1	CFO	Daily	M2M Posting Journal Application	Post M2M Activity Module (ex. Production,Sales etc.) data to General Ledger
D2	AR Clerk	Daily/Weekly/Monthly	M2M Cost Roll Up Report; Order Costing Detail; General Ledger Report	Monitor production and costing activity for data quality including large or arbitrary financial activity
D3	CFO	Daily/Weekly/Monthly	All Payables Spreadsheet, CashFlow Analysis Spreadsheet,	Review data accuracy for aging and invoice selection for payment, determine total daily cash requirement for purchased services and product payments
D4	CFO	Monthly	Depreciation Schedule	Update Depreciation & Construction in Progress spreadsheet with monthly  spending; move completed projects to proper Property, Plant & Equipment G/L account; verify proper depreciation is posted to G/L
D5	CFO	Daily	Daily bank reports for deposits	Review daily bank prior-day & inter-day reporting; post any activity into G/L
D6	CFO	Weekly	Month-end lender statement	Records monthly interest and fees
D7	CFO	Daily/Weekly/Monthly	Inventory Analysis Spreadsheet; Financial Analysis Spreadsheet	Reconcile M2M Inventory Subledger to General Ledger
D8	CFO	Monthly	M2M Journal Entry Report; Financial Analysis Spreadsheet	Review large dollar transactions that are outside of the ordinary course of business
Treasury
E1	CFO	Daily	M2M Posting Journal Application	Post M2M Activity Module (ex. Production,Sales etc.) data to General Ledger
E2	AR Clerk	Daily	M2M Cost Roll Up Report; Order Costing Detail to General Ledger Report	Monitor production and costing activity for data quality including large or arbitrary financial activity
E3	CFO	Monthly	Financial Analysis Spreadsheet; Inventory Analysis Spreadsheet; Lender Certification Spreadsheet	Produce Monthly Certification Package; update reserves; distribute reports

Revision history: