S August Accounting & Financial Management Services

• Quick Books Update. Track Expenses and compare to “2021 Combined Payment Total Tab”.
• Upload Whitney Bank Transactions of the prior month
• Create Budgets for upcoming projects, events, classes, and programs.
• Forecast/ Projections/ Cash Flow/ Savings
• Note: STM Parents Automatic Debit on 1^st and 7^th. All Clients must pay invoices no later than the 7^th of the month.

Start to reconcile books for the upcoming week.

• Download all Square, PayPal, Cash, and Check transactions and payments and add them to the “2021 Combined Payment” Excel Document. Ensure that all payment types are correctly linked to Totals.
• Reconcile all Completed Payments to the 2021 Parents and Students Excel Document (Colorful sheet).
• Update Shared “Acuity CC Update” Document to inform Savannah and Candace that a current student has a balance.
• ***Note: This must be reconciled by the end of the second week for Accurate Payroll to teachers.

• Note: Account is usually negative due to payment to teachers without collecting past due payments
• Do a Final Review and Reconciliation of 2021 Combined Document and 2021 Parent and Student Excel Documents before follow-up with parents.
• Phone Call, Email, and Follow-up with parents who have an “Overdue/Past Due” Invoice for completed lessons. We are sensitive to all reasons as to why a parent or student may be late on a payment. Request to have a credit card on file to keep the payment current or a payment calendar.
• Late Fee will be added to clients who refuse to abide by negotiated payment calendar or after two months of missed payment (Fee may be waived due to Covid-19. Follow up with Candace or with the client may be required before the late fee can be added).

• Combined any past due to invoices and add them to next month. Delete upcoming reoccurring invoices so the client does not receive two invoices.
• Add late Fee after two months of non-payment.