Slappo Posted April 7, 2013 Share Posted April 7, 2013 Just took over treasurer duties for our condo association. There's something close to a $5,000 discrepancy between the general ledger that was being kept and the bank statements of our checking account. I don't know if the previous treasurer ever compared the bank statements to the general ledger he kept... I already went all the way back to Jan of 2012 and couldn't find it, so now it means more digging... Link to comment Share on other sites More sharing options...
Anastasia13 Posted April 7, 2013 Share Posted April 7, 2013 (edited) I could not agree more with the title. Unless it was doing taxes by hand... Edited April 7, 2013 by Light and Truth Link to comment Share on other sites More sharing options...
AnneLine Posted April 7, 2013 Share Posted April 7, 2013 euck to either/both.... Link to comment Share on other sites More sharing options...
Anastasia13 Posted April 7, 2013 Share Posted April 7, 2013 euck to either/both.... Managerial accounting however is the bomb diggity. Link to comment Share on other sites More sharing options...
Slappo Posted April 7, 2013 Author Share Posted April 7, 2013 Well the error is up to $5,290.47 and I've gone all the way back to Jan 1, 2011. My guess is it's just a multitude of errors on the ledger, but that's a pretty darn big discrepancy... Link to comment Share on other sites More sharing options...
Nihil Obstat Posted April 7, 2013 Share Posted April 7, 2013 Is there any reason to think it's something sketchy, rather than incompetence? Link to comment Share on other sites More sharing options...
Slappo Posted April 7, 2013 Author Share Posted April 7, 2013 Is there any reason to think it's something sketchy, rather than incompetence? It's a condo association, and the people that have had authority to handle the financials has varied greatly. Which means it could very easily be just an error in the ledger, but at the same time it could very easily be fraud. The OCD accountant in me won't let me just drop it and move on, but the records we have and how they have been maintained may end up forcing me to. I don't seem to have a general ledger for 2010 and I'm sure as heck not OCD enough to re-create one with the several hundred receipts we have on record, especially considering they may or may not be comprehensive...! I'm thinking it really has to be an error of incompetence because we require two board member signatures on all our checks. I'm not sure if the bank would let us do a cash withdrawal without having two members present, but that would stick out like a sore thumb anyways and be super easy to catch just looking at statements. Link to comment Share on other sites More sharing options...
Slappo Posted April 7, 2013 Author Share Posted April 7, 2013 Oh gosh... maybe I am just crazy enough... I'm going off of the check duplicates rather than the invoices though. Link to comment Share on other sites More sharing options...
Nihil Obstat Posted April 7, 2013 Share Posted April 7, 2013 I don't envy you. :P I hope you're getting something in exchange for all this work. Link to comment Share on other sites More sharing options...
Anastasia13 Posted April 7, 2013 Share Posted April 7, 2013 The life of accounting. Sounds brilliantly miserable. Please tell me you are not doing work this late. Link to comment Share on other sites More sharing options...
Slappo Posted April 7, 2013 Author Share Posted April 7, 2013 I don't envy you. :P I hope you're getting something in exchange for all this work. I'm getting clean bookkeeping records :|. I took over the treasury position for our board and it is very mildly compensated at $50 a month. Really as annoying as it is, it's a passion and I enjoy it. I'm definitely going over and above what anyone would expect, but I want clean records going back at least 3 years in case of an audit. The life of accounting. Sounds brilliantly miserable. Please tell me you are not doing work this late. Of course I am :) It's really not taking too terribly long. I was able to enter all the checks for 2010 in an excel spreadsheet in about 25 min, and I have all 12 statements for the year to record the deposits. I'm thinking the problem is in 2010 but we'll see :). Now it's off to bed before I upset my better half! Link to comment Share on other sites More sharing options...
Nihil Obstat Posted April 7, 2013 Share Posted April 7, 2013 You would think they could at least waive your condo association fees or something. :P Link to comment Share on other sites More sharing options...
Anastasia13 Posted April 8, 2013 Share Posted April 8, 2013 That is so OCD. Did you find it? Let us know. Link to comment Share on other sites More sharing options...
WillT Posted April 8, 2013 Share Posted April 8, 2013 Sometimes? I'd say it pretty much always sucks. :| Link to comment Share on other sites More sharing options...
Anastasia13 Posted April 8, 2013 Share Posted April 8, 2013 Sometimes? I'd say it pretty much always smells of elderberries. :| Marketing department, is that you? Link to comment Share on other sites More sharing options...
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