AFT-QBuxBox Wkly Internet Acctg Sys -- ZZbuxbox
 
1211-01 AFT-QBuxBox Wkly Internet Acctg Sys -- ZZbuxbox

                 


                             TO: Mostly New Ministries                                                                        FROM: Jim Bramer, Retired Auditor-CPA 
                                                                                                                                                      FOLDER: qbuxbox/generic/1211-01

                              RE: ATF  (After the Fact)  eFINFAX or BuxBox
                                       Weekly Internet Accounting System
                                         Originated:   February 2006                                           


Below are the  FEATURES  of the ATF "After the Fact" BuxBox Weekly Internet Accounting System

 A>    This is designed for the use of Small Ministries  (be it a beginning Church or any other type of Ministry or Missionary Organization)  who handles $500,000 or less per annum, but it is often adapted for the use of  BLVRs  in their pursuit of  Righteous Personal Finance, or RPFin
 B>    Especially be aware of this electronic 
eFINFAX  accounting system.  
 C>    As you make maximum us
e of the "Internet Friendlyresources displayed below     
 D
>    With a weekly processing/reporting emphasis
 E>    Use older versions of the QBPro (QBs) computer software obtained out on eBay, etc.
 F>    And you use the structure and resources found when you go to  BuxBox

                                                                            Internet Centric (or Internet Friendly) (1)

      
 When I use the "
Internet Centric" term I mean anyone who usually uses a laptop Computer that is continuously with them.  They have a fast Internet connection as they go there minimally once a day to at least receive and send Email.  Plus they also are comfortable doing their personal finances using Internet resources.  This includes at any time (24/7) paying the bulk of their Bills  online plus viewing their Bank and Credit Card Statements online.  Many of them weekly Online prudently pay off the balance of thiir Credit Card Statements and therefore have no Credit Card debt problem.  Such folk may even go to  www.irs.gov/efile  and file their federal tax returns via the Internet.
        They also are very comfortable using accounting whereby after making a deposit they know weekly if they have available money to spend.  The means to do this is what we call the BuxBox (or Virtual Envelope) system.  Some of these
Internet Centric (Internet Friendly) folk even use such resources that we describe at  0904  as they do not buy software and place it on their computer but they pay a small monthly fee and handle such matters directly via Web Based (or Internet) products, etc.
        We are convinced that a beginning Small Ministry should place their money,  when received,  into pre-defined BuxBoxes, or prioritized spending areas of their Ministry, and then know at least weekly by the balance within the applicable BuxBox if they have money to spend until next week, etc.   Please go again to  0002  where you will find (we reference the BuxBoxes within 0002-99 as Department Accounting Groups - DAG  Bux Boxes
) more detailed information about this system that includes weekly report samples.
        Below are potential actions to be taken by the existing or "to be trained"
 Internet Centric (or Internet Friendly) folk.   
        Pat and/or Pam
are the hypothetical founder and wife of a new Ministry or the leaders in a beginning new Church Plant.  If
 Pam handles their personal finances, she likely with initially do a certain part of the new Ministry's finance tasks. Other hypothetical folk are Fran and Tracy.  Fran is a volunteer - maybe the initial Board Treasurer - who often handles such tasks that are handled initially by Pat and/or Pam.  Then Tracy is the HOMER  as they all use the Internet to remotely do these things.  Usually the respective tasks originate with Pam and migrate to Fran and/or Tracy as the Ministry matures. 

                                                      Actions to be taken at the Onset

01. Arrange for authorized people to have access to the Ministry's Online Bank Statement  24/7
02. Arrange for authorized people to have access to the Ministry's  Online Credit Card Statements  24/7
03. Arrange for as many automatic repetitive Ministry Online Check Payments via their Bank Account as possible
04. Arrange for as many automatic repetitive Online Charges to the Ministry's Credit Card as possible
05. Obtain plastic for use of both Debit and Credit Card Ministry transactions
06. Go to www.ebay.com and obtain QBooksPro2003 as if it were new, etc.
07. Set up the
BuxBox Ministry structure following basically what you find at  0002 .

08. Maintain a list of repetitive Ministry Online Payments/Credit Card charges and which
BuxBox to charge
09. Have generic original/duplicate numbered Ministry checks for handwriting purposes, and 
10. Conclude what Ministry expenses to pay in order of priority as explained when you Click Here.

11. When applicable, arrange for a weekly payroll - do this manually at first, but ultimately outsource, etc.
12. Arrange for as many automatic repetitive Online Donations as possible

                                                    Actions to be taken during the week Pat and/ Fran Tracy
or Pam Only or Fran
As to the use of BuxBox software 
<<  Post the total deposit within the software and distribute to applicable BuxBox(es) xxx
<<  Process Online Deposits -- including entry to the Giving Record database file xxx
<<  Process Online Payments that originate within QBs & distribute to applicable BuxBoxes xxx
Hand write checks 
<<  Attach duplicate copy of the check to supporting documents xxx
<<  Identify thereon the applicable BuxBox(es) involved xxx
<<  File these in check number order awaiting action below. xxx
   <<  Process weekly payroll xxx
Debit Cards - or authorized Plastic charges that concurrently reduce the Bank balance
<<  Authorized people make purchases via the Debit Card xxx xxx
<<  Staffer in charge obtains transaction slip and indicates which BuxBox(es) are involved and 
         sees that it is ultimately posted to applicable BuxBox xxx xxx
Credit Cards -- or authorized Plastic charges that are to be paid later xxx xxx
<<  Authorized people make purchases via the Credit Card xxx xxx
<<  Staffer in charge obtain transaction slips and indicate which BuxBox(es) are involved and 
        sees that it is ultimately posted to the applicable BuxBox(es) xxx xxx
<<  Pay unpaid monthly Credit Card Statement during the first week of the month, xxx
   <<  Ask us about paying the Credit Card Statement off each week xxx
                                                  Actions to be taken on a Weekly Basis
 
<<  Go to Online Bank Statement and make hard copy of the 
      current Bank Statement equivalent for future reference xxx xxx
<<  Go to QBs and check off items that that have cleared the Bank as they appear within the 
     QBs register per information above xxx xxx
<<  Go to QBs and manually enter items that have cleared the Bank but are not shown xxx xxx
<<  Tie such transactions to supporting docs (copy of handwritten pre-numbered checks and 
       Debit Charge documentation) and distribute amounts to applicable BuxBox(es) xxx xxx
<<  Some posting may need to be made to a Suspense account pending BuxBox  I.D. xxx xxx
<<  For items entered into the QBs system but have not yet cleared the bank, change the
        date to the  following week (place original date within the memo area) so you that the QBs
              Bank Acct register ending balance agrees with that of the Bank Statement, etc. xxx xxx
    PLEASE NOTE --- You process only what appears on the weekly Online Bank Statement or 
there is no need to the go through a "Bank Reconciliation" process and ascertain what
 deposits or checks that are entered in a BuxBox but have not yet cleared the bank.  Then 
ultimately reconcile the difference between balances shown by the Bank and that shown by
 the BuxBox system, etc.  This process is the essence of this "After the Fact"  System.
<<  Go to the Online Credit Card Statement and make hard copy for future reference xxx xxx
<<  Tie such transactions to supporting docs (copy of authorized Credit Card charge slips, etc.)
          Some will be repetitive automatic charges to the Credit Card Statement - xxx xxx
<<  And distribute amounts to applicable BuxBoxes xxx
<<  Some posting may need to be made to a Suspense account pending BuxBox  I.D. xxx
<<  Ultimately the BuxBox Credit Card liability account balance and the Online Credit Card 
         statement balance will be in agreement xxx xxx

             Or you are weekly mirroring within this BuxBox system what appears (After the Fact)  on both the Online Bank Statement and the Online Credit Card Statement.  It is not a matter of you initially entering each transaction within the BuxBox system in the usual way and then making sure (reconciling, if you please) that what you entered each week agrees with these external documents, etc. 

      Be sure and contact me at Jim@bcidot.org  if you have any questions about any of this.   


   --MINISTRY FINANCE "LINGO"  ABOVE INCLUDES--:

     ATF = "After the Fact"  System  
     BREC = Bank Reconciliation

     Fran = local Administration or Clerical Assistant
     Homer = remote Mom at Home or Retiree

     Internet Centric (Or Internet Friendly)  = system  which         revolves around Internet applications - resources.
      QBs = Quickbooks
      QBuxBox = A QuickBooks Fund Acctg method
      Pat and Pam = Founder and wife
     Tracy = Homer


     This publication originated in February 2006. UPTD: June 06, 2010   

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