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Ensuring Accuracy in your Bingo Reports

Ensuring Accuracy in your Bingo Reports. The BOOKKEEPER MODULE. Your Function: Timely and accurately recording and reporting quarterly bingo activity. I KNOW BINGO….BEEN DOING IT FOR 30 YEARS! In 1995--6 administrative rules In 2005--36 administrative rules

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Ensuring Accuracy in your Bingo Reports

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  1. Ensuring Accuracy in your Bingo Reports The BOOKKEEPER MODULE

  2. Your Function: Timely and accurately recording and reporting quarterly bingo activity

  3. I KNOW BINGO….BEEN DOING IT FOR 30 YEARS! • In 1995--6 administrative rules • In 2005--36 administrative rules • In 2011—61 administrative rules and revisions pending • Over 75 bingo forms currently used to report information • This is NOT bingo like it was 30, 20, 10 or even 5 • years ago!

  4. WHY is it so important? --Money --Time --Frustration as you search for “the” mistake and re-do the report --Penalties --Increased chance of audit --Additional bond or bond demand --Loss of license

  5. Use the TOOLS available ! • Interactive forms (forms on website with this icon ) • Bingo Services Center (all bookkeepers can self-subscribe) • Statewide Financial reports (anyone can access) • Training modules (great reference tool) • BEA/Admin Rules Subject Index (find citations quickly) • Monitor the Bingo Website • Read the Audit & Recordkeeping FAQs

  6. Need a Bingo Computer? Authorized Bingo Expense if REASONABLE OR NECESSARY to the conduct of bingo

  7. 1st Quarter 2010 Stats --306 Exception letters from the Commission notified organizations of compliance and addition errors --Hundreds of Accounting Services phone calls to follow-up on errors -- May delay issuance of your renewal license until the quarterly reports are correct and in compliance

  8. COMMON MYTH ! Don’t worry…the Charitable Bingo Division will catch and fix the error. NO!

  9. Mistakes Cost You! --Penalties and Interest, Administrative Fines --Re-doing the Quarterly Report(s) --One mistake compounds to another --Frustration having to search for and find “the mistake(s)” and re-file an amended return --History of mistakes might trigger an audit

  10. General Mistakes– TOO common, TOO often • Math errors • Quarterly Reports incorrectly filled out; doesn’t balance • Late filers • Non-filers

  11. Double Check that CHECK ! • Written amount must match the numerical amount shown (Bank will honor the written amount) • Check amount and the Quarterly Report due amount agree? • Check is signed? • Does your organization check require more than one signature?

  12. They are DIFFERENT! You report them SEPERATELY! Pulltab Ticket Sample Pu L L T A B S Pulltab “Event” Ticket Sample See QR lines 7 and 17 See QR lines 6 and 17

  13. Let’s Talk About…. The QUARTERLY REPORT

  14. QUARTERLY REPORT DATA IS LINKED FROM ONE REPORT TO THE NEXT QR 20102 QR 20094 QR 20101 If you have to amend a report, you may have to amend and re-file a previous report…

  15. Potential Problems with Line 25} Used to show “credit” for reimbursing NSF checks given to the organization during a bingo session, or if funds are accidently deposited into the bingo account. When a check is written to the proper account to correct the error, it should be reported on line 25 as a debit. }Line 31 Used only when you move non-bingo funds into or out of the bingo account. The organization must submit a “Transfer of Funds-Bingo Bank Account” form within 14 days of the transfer.

  16. Line 33 and 42 LINKED If Line 35 Line 42….you have an error!

  17. When LINE 35 and LINE 42 don’t match… • CHECK • Verify all bingo sessions entered on sales journal • Verify each deposit on the bank statement for each month of the quarter match the daily cash reports • Verify if any corrections were made to the deposits for the session and accurately captured • Verify any debits on the bank statement for returned checks, bank fees or check/deposit slip orders. Verify these items reported as an expense on line 25 • Verify any “over or shorts” on the daily cash report were reported as an expense or expense credit on line 25

  18. Subtracting a Negative Number 3000 1800 (185) 1500 1685 1385 3000 – 1800 – (-185) = $1385

  19. Please do NOT include other paper work such as sales journals or cash disbursement journals. Please remember to write legibly Please remember to INCLUDE all the pages of the quarterly report. When Filing a Quarterly Report: 5 6 ? ? 7 9 WHAT is this suppose to be? Please do NOT use staples!

  20. Need More Help? There is a power point slide presentation available on the Charitable Bingo website that will give you some other tips on ensuring accuracy in your Quarterly Report

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