Month-End Accounting Procedures

Whether you “do your own books,” or have an in-house accountant, there are certain month-end procedures that you should follow to safeguard your business assets and cash . . . NO EXCEPTIONS!!

They are:

1. Reconcile all bank accounts at the earliest possible time, and investigate old outstanding checks and look to see that month-end deposits have been recorded.
2. If you maintain cash balances, count them and investigate differences.
3. Prepare an “accounts payable” schedule to keep yourself up to date on what you owe and to whom. This not only protects you against late charges, but will help you control expenses.
4. Prepare an “accounts receivable” listing to see who still owes you money. This can be “aged” so as to identify overdue accounts. Run a month-end trial balance, review it for reasonableness and question any items in it that you would like more information on.
5. Compare the figures in the Trial Balance to your schedules of accounts payable, accounts receivable, and bank reconciliations.
6. When everything in 6) above reconciles, run your month-end financial statements.

If you have an in-house accountant, it is important that you are perceived to be taking an interest in the financial records and the internal financial controls of the business. Internal controls are designed to help prevent and/or detect errors and fraud.

All-American Softball School is a training facility for youth softball players. Located here in Sacramento, the softball school was started in 1995 by Kelly Jackson who has been involved with top level softball for 22 years.

Kelly started in Red Bluff, California playing high school softball. From there, she was picked up by a travel team which allowed her to play in top level tournaments throughout the state of California. During this time she was scouted by several colleges and received a full scholarship to top ranked Arizona State University where she played for four years while continuing to play travel ball. This led her to the Olympic process which gave her the opportunity to play international softball as well as a try-out for the 1996 Olympic Softball Team.

The school itself is an 8,000 square foot facility consisting of 8 hitting lanes and 1 pitching lane with a defensive area that is 1,000 square feet. There are approximately 600 athletes enrolled, ranging in ages from 5 to 25 years old, who are learning and being trained for all levels of Olympic style softball.

When the athletes become high school players, All-American Softball School has a college prep program which has promoted its athletes to colleges all over the country. Tami Brown, the director of the college prep program, has 12 years of division 1 college coaching experience, resulting in many college contacts that are utilized to place their local athletes. Currently, their program has placed 110 athletes in colleges all over the country.

In addition, the school gives about 20 clinics throughout the year which puts them in contact with about 10 thousand athletes per year. They also have a pro shop that specializes in properly fitting softball equipment and uniforms to its athletes.

We look forward to serving the business needs of the school as it continues to grow. For more information you may call Kelly at (916) 920-1907.

If you have an e-mail address, please put it on your organizer.