There will be no Form 3s, thanks to Centralization!
AP Cutoff: All bills and Form 14s that are received by HQ by October 9 will be entered, and, if allowable, will be taken from Restricted Funds in FY20 if applicable. Please follow up with all your chapter’s volunteers to get Form 14s in as soon as possible before year-end.
Accruals: We realize that not all FY20 bills will be in before October 9. We will process The Panther Group bills for September in FY20 that usually come in mid-October. For any other bills over $250, chapters may request them to be accrued after October 9 by noting in the submitting email or on the bill itself the general ledger account 25000 Accrued expenses. If we are able to honor the request, we will accrue it back to FY20. For all other bills associated with FY20 that do not make the deadline or cannot be honored, the bills will be charged against Chapter Unrestricted Funds in FY21 and coded to 59900 Misc exp as an unallowable expense.
In-Kind: Has your chapter or any branches received $1,000 or more in In-Kind product, services, or office/meeting space? We need to book that if we haven’t already done so. Please watch for more information in the September Accounting Bulletin and gather up documentation to support the entry such as an acknowledgement letter or SCORE Form 15. Please check your Intacct Dashboard to see if we are booking the SBA/GSA office space correctly, is your chapter still in a government space? Are we booking a value for that space? Please contact Erin Schultz if you have questions.