NIE Cash & Sales Process
Two house accounts established: Bookkeepers must reconcile these EOM & report to central office on any balances.
A. Subscriptions-Account should have a 0 balance at the end of the month, unless a payment has been posted to your sub acct. at another operation.
B. NIE-Account may have credit balance at the end of the month.
Subscribers round up or make donations to NIE:
A. Show total of the NIE contributions on the margin of the SUB/NIE deposit ticket.
B. Circulation manager reports total NIE money to bookkeeper who makes the entry to
the NIE account via the Cash report. That money will remain in the NIE acct. resulting in
a credit balance until classes start.
C. When class start, the NIE coordinator will inform the bookkeeper of the cost of each
D. The bookkeeper will make a sales entry via Snap, on the Job Print/Misc. tab using Sale Type 61, to the NIE account for each classrooms cost.
Special fund-raisers benefiting NIE, ex. Pet Contest, are handled using the above process.
Subscriber cancels prematurely:
When a subscriber cancels prematurely and gives permission for the remaining money left on the acct. to be used for the NIE program:
A. Circ. Mgr. does a “Refund” to the subscriber’s acct. This stops the paper & gives the
amount remaining in unearned income. This amount will print on the bottom of the
Payment report below the Total line.
B. Report this amount to the bookkeeper who will move that amount from the Sub acct. to the NIE acct. with an allowance code via the Cash Report in Snap. Three allowance code entries are needed to achieve this: First, debit the Sub acct. for that amount with an allowance 11. Second, credit the NIE acct. for that amount with an allowance 11. Third, credit the Sub acct. for that amount with an allowance 26.