Introduction

The purpose of this process is to ensure financial reports, for each client, are processed monthly after the close of the G/L, the original copies are placed in specific order in the client financial files, and additional copies are prepared for the Board of Directors of each Association and the Resale Certificate files.

Getting Ready for Financial Statements

Prior to receiving the monthly reports to begin copying, the financial statement mailing list should be updated.

Print a copy of the Financial Statement Mailing List from menu# 6.2.2.2. Forward to Client managers and others to review and add/delete Address Book entries.

Input corrections and run a new List. This is your work sheet for the number of copies you need to make and to record the costs of the supplies and postage for billback at the end of the month.

Once your list is accurate you can run the mailing labels from menu# 6.2.4. They are run from the same data as your list. In addition, you can run the cover sheets and the cover letters, if used, from menu# 6.2.3. You must use the Word Processing system to access the File "WP.LETTERS" and the Document "FS.COVER". Change the date and other necessary information.

Labels are run at 10cpi and letter quality or on a LASER printer.

Cover sheets and letters are run at 12cpi on letter quality paper (not continuous feed paper). Even though the covers and letters are in Word Processing, you can run them through the Mailing List Maintenance System from menu# 6.2.3.

Collate Original Copies of Financial Statements

Once all the reports are prepared, they will need to be separated and collated for each client. File copies of the reports should be collated into the following order:

1. Income Statement - Monthly vs Budget
2. Income Statement - 12 month spread
3. Sources and Uses of Funds
4. Balance Sheet
5. G/L Journal
6. G/L Postings
7. A/P Open Items List
8. Cash Receipts Journal
9. Customer Information
10. A/R Ageings - Totals
11. A/R Ageings - Detail
12. Sales Journal
13. Current Invoice Register

Copy Reports for Clients

Once the originals are collated you are ready to start copying. The following reports should be copied. Use the Mailing List as a guide to the number of copies. Try to make the most clear, and legible copies possible.

1. Running Bank Book
2. Income Statement - Monthly vs Budget
3. Income Statement - 12 month spread
4. Sources and Uses of Funds Statement
5. Balance Sheet
6. A/P Open Items Listing
7. Cash Receipts Journal
8. Customer Information
9. A/R Delinquent Ageing Totals
10. A/R Delinquent Ageing Detail

Make an extra copy of the financial reports for the resale file. You can do this by changing the copy number on selected pages. As you make these copies for the resale file, separate from the financial statement copies and give to Receivables for filing. For the resale file, you will need to copy the following reports:

1. Income Statement - Monthly vs Budget
2. Income Statement - 12 month spread
3. Sources and Uses of Funds
4. Balance Sheet

When you are done copying, separate the Running Bank Book from the original file copies and give bank reconciliation person.

Bind Financial Statement Packages

Once copies are made, you will need to punch the reports and covers and collating with the coversheets and letters, bind the reports.

Be careful in punching the reports and covers to re-align the machine for the different sized of paper.

As you complete binding each report, slip into the prepared envelope, being carefull to match the coversheet name with the envelope label name.

Mail Financial Statement Packages

Use the postage meter postage tape to print postage labels; don't run envelopes thru the meter. Record postage on your work sheet for the supply log.

Once the postage is added, the statements should be dropped off at the Airport Post Office to ensure the quickest delivery.

File Original Copies of Financial Statements

After copying and mailing is completed, the original reports should be stapled and slipped, loosly, into the middle of the Monthly Financial Folders. This is generally the last thing to go in the monthly files, which can then be transferred to the file drawers.