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November 8, 2022
Distribution: Treasurers and Leaders
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In this issue you will find:
- AP Bill Processing Status
- Money Appearing on an SOFP near you . . .
- GSA Hotel Rate & Field Travel Policy Updates
- Treasurer Tuesday – Federal Award Compliance
- Submitting Contracts? One and Done!
- Mind your Us and Fs – Get an Activity Code, everybody has one!
- Welcome SCORE’s New Treasurers
- New Expense Quick Reference Guides, don’t get caught without it.
Thank you all for your support while we closed out FY22. The annual audit is well under way which has Shawn, Erin, Doug and Jon still working on two years at once. Changes to reporting due to chapters moving districts will be completed after all of the FY22 reports are run and stored.
A few notes and reminders:
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The Field Travel Policy is now updated and on the Support Center and it includes a letter from the SBA to facilitate getting GSA rates for hotels. You can find the webpage here.
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Every bill needs to have the why as to how it benefits SCORE. Please remember the 5 W's: who, what, when, where and why even if paying from local unrestricted funds. This will reduce the emails you receive from accounting staff and ensure speedier payments.
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Annual Recognition events – Please remember to include an itemized receipt for the food, an attendee list and an agenda. Any alcohol needs to be on a separate receipt. Chapters may have one annual recognition event a year. If documented properly, most can be paid from National Allocation.
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SCORE cannot pay for gift cards or gift certificates even from unrestricted funds.
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Please update your chapter leadership in Engage and have your Chapter Chair update any changes approval designees at this form.
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Please send bills into accounting@score.org instead of a staff’s email to ensure the bill is processed even if that person is on vacation.
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As a reminder, as you renew contracts for FY23 . . .I must sign all contracts, regardless of total amount. Please use the new portal for submitting contracts on the Support Center. This includes donor or grant contracts. See the body of this bulletin and the Support Center for more information.
1. AP Bill Processing Status – Up to Date, Credit Card Options
As of the date of this bulletin, we are processing bills received November 7; it takes 5 business days to process a bill and checks take approximately 14 days to be delivered from when it is mailed. Properly completed and approved Form 14s are paid within 4 business days of receipt, signing up for ACH payments will eliminate the mailing delay. Email accounting@score.org to sign up.
If you do not see a bill submitted earlier on your chapter's bills register in Sage Intacct Accounting system on your chapter’s Bills Register, please let us know. Please contact your accounts payable person directly or send an email to accounting@score.org. Volunteers can drill back to Bill.com to confirm if the check has cleared. Vendor doesn’t take a check? Request a virtual vendor specific credit card!
2. Foundation Accounts on your SOFP!
Chapters who have funds in a Foundation account within SCORE Foundation will now see those balances on your Statement of Financial Position (SOFP aka balance sheet) as of September 30, 2022. The Foundation account balance statements are attached to the entry, to see those please follow the directions on this guide: How to See Attachments. Give us until January 2 to complete the audit and we will start updating this monthly for you. When your Foundation account receives contributions within SCORE Foundation, we will record it as income on your chapter dashboard using general ledger account 41515 Contributions to Chapter Foundation account with an increase in your asset account 11030 Chapter Foundation accounts.
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3. GSA Hotel Rates
SCORE’s federal award requires SCORE to follow GSA guidelines for hotel rates or document that the volunteer stayed at the lowest cost mid-range hotel in the area if over the GSA rate. As part of the updated Field Travel Policy, SCORE now has a letter that may help facilitate getting those GSA rates. If the hotel will not accept the letter, the traveler is allowed to go over by 10% before having to document their hotel choice. Find it on the Travel Policy Support Center or the Form 14 Support Center page.
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4. Treasurer Tuesday Schedule
November 15 will be the most important Treasurer Tuesday of the year. Please help SCORE be good stewards of its federal award funds and support SCORE’s culture of Compliance.
Register for one or more here.
Nov 15 Federal Award Compliance
Dec 13 Sage Intacct Accounting System Deeper Dive
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5. Contract Submission Portal
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SCORE HQ has a new contract submission portal here.
If you provide the contract or link, vendor contact, payment instructions, and bids if needed, we will take care of the rest and email you notifications along the way of the progress.
As a reminder all contracts need to be signed by Rick Peluso and SCORE HQ accounting needs a fully executed contract and one of the following to make a payment on the contract: 1. Form 14 with amount and pay date, 2. invoice (bill), or 3. recurring bills form. Upload these into the portal and we will take care of the rest.
If the vendor is expected to be paid more than $10,000 out of National Allocation in FY23, please get quotes from 3 other vendors to upload as well.
If the chapter wants to use a Mesh Payments virtual vendor specific credit card managed by a volunteer, you can provide that information in the portal; we will issue the card once we have the counter signed contract back from the vendor.
Remember, allow your vendor to submit a W-9 through SCORE’s secure portal by giving them our document with instructions. More information is here.
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6. Activity Codes – Mind your Us and Fs
Having a special event? Tracking grant usage? Please use an activity code to protect your chapter’s fundraising, grants and to protect SCORE against comingling of funds. (More about that on the November 15 Treasurer Tuesday) Activity codes are like sticky notes attached to financial transactions. Contact Erin Schultz to request an Activity Code.
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7. New Treasurer for Your Chapter? |
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8. Quick Reference Guides for Expenses
You asked so we created it, fresh off the presses are two guides to help you determine SCORE policies for expenses. Traveling? Check out the Travel Quick Reference Guide to see what is reimbursable and from what funds. These are summaries compiled from the SOM and the CAPP (Chapter Accounting Policies and Procedures):
Thank you for all you do for SCORE.
Rick Peluso
VP of Finance
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Who to Contact with Questions
Our staff is here to answer questions and assist. Send questions to accounting@score.org. We will forward the email to the appropriate person. Want to reach out directly?
Rick Peluso - Contracts, Compliance, Leases, and Foundation Funds
Doug McKenzie - Revenue Classification, IRS Form 990 tax return, IRS determination letter, SCORE W-9, and state sales tax exemptions
Erin Schultz - Sage Intacct Accounting System, American Express Card requests, Virtual Credit Cards system Mesh Payments, Pass-Through Grant Coordination, Expense Classification, Chapter Financial Reporting, Treasurer Training, Special Requests
Brent Ramsey - Contacts, Leases, Federal Award Compliance, Federal Pass-Through Grants
Jon McClung - Sage Intacct Accounting System, Expense Classification, Chapter Financial Reporting, National Allocation Transfers, Special Requests
Shawn Little - PayPal, CashPro Banking Deposit App, ACH Payment Information, Deposits, and Chapter Budgets
Linda Krueger - A/P Manager, Reviews All Payables, Office Depot, Voids and Reissues Checks, Issues 1099s, Any A/P Complex Issues
Harinder Kaur - Manages Vendor and Volunteer ePayment requests and payables for HQ, Southeast, Southwest, West, and Mid-Atlantic regions, Optamark
Carlos Lee - Manages payables for Northeast, Central, Northwest, and Midwest regions, Chapter Leases
Sheena Matthews - Manages all Panther bills, Supports Harinder with Payables
Ashley Spencer - Manages Virtual Credit Card system Mesh Payments coding, Designee Approvers List, and supports Carlos Lee with Payables
Report Deposit Information to deposit@score.org
Submit Bills to accounting@score.org
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1165 Herndon Parkway
Suite 100
Herndon, VA 20170
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Funded in part through a Cooperative Agreement with the U.S. Small Business Administration. All opinions, conclusions and/or recommendations expressed herein are those of the author(s) and do not necessarily reflect the views of the SBA. |
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