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Young Marines Monthly Financial Reporting. New Financial Report-Page 1. Unit Name and State Month/Year Type of Account Separate reports for each account Beginning Balance Should agree with ending balance from prior month Should agree with beginning bank balance Total Income
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New Financial Report-Page 1 Unit Name and State Month/Year Type of Account Separate reports for each account Beginning Balance Should agree with ending balance from prior month Should agree with beginning bank balance Total Income Add income breakdown to verify it agrees with Total Income amount Total Income should agree with bank statement deposits/credits Total Expenses Add expense breakdown to verify it agrees with Total Expense amount Total Expenses should agree with bank statement checks/debits Ending Checkbook Balance Beginning Balance + Total Income – Total Expenses Should match bank statement ending balance Signatures Reports must be signed by CO and Paymaster Emailed reports must capture original signatures
Income Fundraising or Contributions Income Now Lumped together Dues or Registration See Page 2 of Financial Report Amounts received from another unit Be sure to list unit name and exact dollar amount from each unit Amounts received from Headquarters Any money received from HQTRs only Money Transferred from another account Between accounts that belong to your unit-- i.e. Checking, Savings, or Money Market Other Income Voided and NSF checks: List what check was originally written for Merchandise Income Refunds—Give detail of what was originally purchased Reimbursements
Expenses Unit Activities Meetings, Food, Supplies, Office Supplies, Rent, Utilities, Phone, Special Activities Do not include amounts paid to other units or Headquarters Fundraising Expenses Equipment Purchases over $500 List description of Equipment Amounts paid to another Unit Give exact amount and unit name Amounts paid to Headquarters Money transferred within the unit Between accounts that belong to your unit-- i.e. Checking, Savings, or Money Market Other Expenses Any NSF checks received (tell who they were from and what it was for Any other expenses that you did not already list on report—give description
Errors to Avoid • Sending wrong month/Skipping a month • Beginning with the wrong Balance • This should always be the ending balance from the prior month • Forgetting to send Bank Statement/or Sending wrong Bank Statement • Not adding report figures correctly • Make sure you don’t leave an item off report and then just use total from Bank Statement • Please use calculator to make sure everything adds up to bottom total • Faxing pages upside down • Not providing any contact information ***Note: We send Headquarters the updated unit Compliance Report on Friday mornings at 9 a.m. EST.
