Ensuring Accuracy in your Bingo

ReportsThe BOOKKEEPER MODULE

Your Function:Timely and accurately recording and reporting quarterly bingo activity

I KNOW BINGO….BEEN DOING IT FOR 30 YEARS!• In 1995--6 administrative rules

• In 2005--36 administrative rules

• In 2011—61 administrative rules and revisions pending

• Over 75 bingo forms currently used to report information

This is NOT bingo like it was 30, 20, 10 or even 5 years ago!

WHY is it so important?

--Money--Time--Frustration as you search for “the” mistake and re-do the report--Penalties--Increased chance of audit--Additional bond or bond demand--Loss of license

Use the TOOLS available ! Interactive forms (forms on website with this icon )

Bingo Services Center (all bookkeepers can self-subscribe)

Statewide Financial reports (anyone can access)

Training modules (great reference tool)

BEA/Admin Rules Subject Index (find citations quickly)

Monitor the Bingo Website

Read the Audit & Recordkeeping FAQs

Need a Bingo Computer?

Authorized Bingo Expense ifREASONABLE OR NECESSARY to the conduct of bingo

COMMON MYTH !

Don’t worry…the Charitable Bingo Division will catch and fix the error.

NO!

Mistakes Cost You!

--Penalties and Interest, Administrative Fines

--Re-doing the Quarterly Report(s)

--One mistake compounds to another

--Frustration having to search for and find “the mistake(s)” and re-file an amended return

--History of mistakes might trigger an audit

General Mistakes– TOO common, TOO often

• Math errors

• Quarterly Reports incorrectly filled out; doesn’t balance

• Late filers

• Non-filers

Double Check that CHECK !• Written amount must match the numerical amount shown (Bank will honor the written amount)

• Check amount and the Quarterly Report due amount agree?

• Check is signed?

• Does your organization check require more than one signature?

They are DIFFERENT! You report them SEPERATELY!

Pulltab “Event” Ticket Sample

Pulltab Ticket Sample

See QR lines 6 and 17

See QR lines 7 and 17

PuLLTABS

Let’s Talk About….

The QUARTERLY REPORT

QR 20094

QR 20101

QR 20102

QUARTERLY REPORT DATA IS LINKED FROM ONE REPORT TO THE NEXT

If you have to amend a report, you may have to amend and re-file a previous report…

}Line

31

Potential Problems with Line

25}Used to show “credit” for reimbursing NSF checks given to the organization during a bingo session, or if funds are accidently deposited into the bingo account. When a check is written to the proper account to correct the error, it should be reported on line 25 as a debit.

Used only when you move non-bingo funds into or out of the bingo account. The organization must submit a “Transfer of Funds-Bingo Bank Account” form within 14 days of the transfer.

Line 33 and 42 LINKED

If Line 35 Line 42….you have an error!

When LINE 35 and LINE 42 don’t match…

CHECK Verify all bingo sessions entered on sales journal

Verify each deposit on the bank statement for each month of the quarter match the daily cash reports

Verify if any corrections were made to the deposits for the session and accurately captured

Verify any debits on the bank statement for returned checks, bank fees or check/deposit slip orders. Verify these items reported as an expense on line 25

Verify any “over or shorts” on the daily cash report were reported as an expense or expense credit on line 25

Subtracting a Negative Number

3000

1500 1685 (185)1385

3000 – 1800 – (-185) = $1385

1800

When Filing a Quarterly Report: • Please do NOT include other paper work such as sales

journals or cash disbursement journals.

• Please remember to write legibly

• Please remember to INCLUDE all the pages of the quarterly report.

79? 56?

WHAT is this suppose to be?

Please do NOT use staples!

Need More Help?EnsuringAccuracy in your filed Quarterly Report

There is a power point slide presentation available on the Charitable Bingo website that will give you some other tips on ensuring accuracy in your Quarterly Report