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March 11, 2020
Distribution: Chapter Treasurers, RVPs, DDs, Chapter Chairs
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In this issue you will find:
- SOM Minute - Contracts
- SCORE "Reimbursement" Revenue
- Panther Group Change Coming June 1st
- Accounts Payable Processing Update
- Forms Available Online for Grant Applications
- Weekly Calls
- Missing Workshop Revenue?
SOM Minute
- New Guidelines for Contracts
You can also find it by searching on the Support Center for SOM to find both the online version and the PDF.
All contracts that are for more than $5,000 must be approved by HQ. Three price quotes from qualified sources are required. If the lowest price quote isn't chosen, then an explanation needs to be also submitted. Please contact Rick Peluso or Doug Nohe if you have questions. This is covered in the SOM under General Operations and Guidelines Lesson, Page 42 of the online version or Page 35 of the PDF version.
The Chapter Accounting Policies are currently in review to update for Centralized Accounting.
SCORE "Reimbursement" Revenue
You asked, and we listened. We are now able to book the offset to the National Allocation and Field Grant expenses paid for your chapter on a monthly basis. This will show your chapter's SOA neutral of the allocation; there will no longer be a loss in those columns. For those of you who were treasurers before the transition, this mirrors how you booked reimbursements from HQ: General Ledger account 40320 for the National Allocation and 40330 for Field Grants. October through January are being booked retroactively. Going forward, each month's offset will be booked after the month is closed.
Panther Group Bill Processing Change Coming June 1st
Starting with bills dated June 1st, Panther Group will send all bills to HQ directly for payment. This change will reduce the duplicate bills we receive and ensure that all bills are being recorded. Panther will also be sending a copy to your chapter for your own records. We will assume that your chapter's approval on the timesheet itself is authorization to pay. Linda Krueger is working closely with Panther to get any special coding instructions put into the Department field on the bill itself. Please let her know if you require special coding with either the G/L account or an activity code, and it doesn't appear by May's billing.
Accounts Payable Processing Update
As of the date of this bulletin, we are processing bills received March 6,10, & 11. If you do not see a bill submitted earlier on your chapter's bills register, please let us know. We may need additional information before processing it. Please contact your accounts payable person directly or send an email to
accounting@score.org
. When submitting time-sensitive vendor bills, please submit early enough to allow for the USPS to deliver it before the due date. Please make sure all bills are submitted with the five W's: Who, what, why, where, and when.
Whenever possible, please submit the original receipt with your expenses. This is the portion of the receipt that lists the items that were purchased. A good tip is to always take a picture of meal receipts with your phone before you leave the table. Then just send in the picture with your Form 14.
Weekly Intacct Webinars
On Tuesday at 2pm EST every week, Accounting is holding webinars to walk chapters through Intacct live and to answer questions related to accounting as time allows. The Zoom platform allows for regular call-ins and the ability to share screens. The next call is Tuesday, March 17, register for one or more sessions.
National PayPal Alert: Are you missing workshop revenue?
New instructions for using the National PayPal virtual terminal are now available here.
We had thirteen Direct Credit Card Payments on February 7th without any identifying factor. Please contact Shawn Little to claim them.
We have a few chapters that have set up workshops in Constant Contact without the chapter designation in the workshop title. Please review your revenue in Constant Contact and compare it to Workshop revenue in Intacct and contact Shawn Little if there are concerns. Examples of workshops not identified:
- Hiring Your First (or Next) Employee
- Certificate in Small Business Management for the Skilled Trades 2020
- Building Stronger Nonprofit Leadership Teams
- QuickBooks for Your Business
- Intellectual Property Laws, Protecting Your Business and Your Work
Thank you for all you do for SCORE.
Rick Peluso
Acting VP of Finance
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Helpful Tips for Centralized Accounting
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Watch for important messages posted in Sage Intacct to the Company Message section of your dashboard including monthly close notices, Bill.com passwords, helpful hints, and other important accounting information.
1. Submitting Bills - Bills must have the chapter number on the bill or in the email and send bills to
accounting@score.org
after approval. Only the chapter chair and a designee on file with us is authorized to approve bills. Is it a new service vendor or contractor? Please submit a W-9 with the bill. Please check to make sure we paid your internet and telephone bills every month. All bills need to be submitted with enough information to justify using federal funds.
Remember your 5 W's:
who, what, where, when, and why, with the big one being why.
Having a chapter event? We need an attendee list since we cannot use federal funds to pay for family members.
2. Send Deposit Information on or before you make the deposit to
deposit@score.org. We are required to book this very quickly, so if you don't send us the information on that day, we have already booked the receipt and perhaps not where it belongs. All unidentified deposits will be posted to Other program revenue as restricted.
3. National PayPal - with Constant Contact (CC): All workshop names in CC Item Title must have "-C####" (dash C, four digit chapter number) at the end of the workshop title. Be exact, no exceptions.
Note: When you sign into PayPal, you will see everyone's activity. This is normal.
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Who to Contact with Questions
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Our staff is here to answer questions and assist. Any question can be sent to
accounting@score.org
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We will forward the email to the appropriate person. Want to reach out directly?
Rick Peluso
- Contracts, Compliance, Leases, and Foundation Funds
Erin Schultz
- Intacct Accounting System, Expense Classification, National Allocation
Linda Krueger
- Payables for New England, Central, Mid-Atlantic, and Northwest regions
Harinder Kaur
- Payables for Southeast, Southwest and Western regions along with Virginia, Nebraska and Montana
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