All financial transactions in CDM+ end up in the General Ledger.
Entering Transactions into the Ledger
Recurring Ledger Entries
🔗PP32 Utilities: Employee utility receivables are built into the application functions and are posted to the General Ledger when the Treasurer pays the utility delivery invoices. The Treasurer prepares a monthly statement for the employee.
🔗PP33 Employment taxes: While the Treasurer computes employment taxes monthly, payments to the IRS and State are made quarterly. The treasurer prepares an employee receivable obligation invoice monthly. The bookkeeper posts employee receivable entries to the General Ledger quarterly.
Note: OSHPC does not use the Accounts Payable and Payroll Modules described in the CDM+ Helps.
🔗Assets revaluation: Revaluations of certain fixed assets are made yearly, including real property and endowments, upon receipt of the property insurance invoice and endowment fund statements.
Annual reconciliation: the Treasurer coordinates and reconciles the records maintained by the Treasurer, Financial Secretary, and Bookkeeper to ensure they are accurate and consistent.
Ledger Changes - Voiding and Deleting
Deposits are described in the Revenue (contributions module), including actual process and record keeping.
Bank Reconciliation
Reconciliations of bank and CD statements with the General Ledger are done monthly.
While CDM+ recommends monthly period closing, given OSHPC’s limited financial transactions, it is usually unnecessary.
Closing a Year
The year-end reconciliation process between the Treasurer, Financial Secretary, and Bookkeeper usually precludes the prior year's closure until after the Annual Meeting.
General Ledger Reports
