3 record-keeping rules

Take the role of treasurer in your organization with confidence thanks to these three tips.

You don’t need to be an accountant to look after the finances of a sports team, club or community association, but you do need to be organized. If you’ve landed in the treasurer’s seat and it feels like you’re in over your head, remember that the job basically comes down to good record keeping. Follow these 3 record-keeping rules and you’ll be bookkeeping with the best of them.

  1. Make sure there’s a paper trail

    For every deposit going into your account and every debit coming out of it, make sure you have the paperwork to explain it. One of the great things about using cheques for your purchases is that cheque images appear on your monthly statement, helping form this paper trail.

    Scanning paper documents and saving them on your computer or somewhere online is a great safety measure in case anything happens to your hard copies. If you don’t have a scanner, a scanner app for your mobile device is a good option.

  2. Stay up to date

    Record keeping is one of those jobs where a little bit of work on a regular basis can save you from a big, ugly job down the line. Track deposits and debits as they come in and you’ll eliminate the risk of forgetting who submitted which invoice or receipt, and exactly what it was for.

  3. Ask questions

    If there’s someone in your organization who had the treasurer position at one point, use them as a resource. Ask them how they did things and why they did them that way. You probably have access to the records from previous years. These can provide a helpful framework to follow in your own record keeping.

If you still feel like you’re at a loss give our Contact Centre a call at 1.866.863.6237. We’re here to help.