Monthly bank reconciliations should be undertaken and reviewed by someone who did not prepare them.

[joereddington]

From the report:

Bank accounts are reconciled regularly by the Treasurer and the reconciliations and bank statements are available for other Trustees to review in eQuality Time’s dropbox folders. The reconciliations are sometimes discussed and approved at Trustee meetings.

Recommendation:

Monthly bank reconciliations should be undertaken and reviewed by someone who did not prepare them.

[joereddington]

So this is a bit tricky.

The point of a bank reconciliation is to check that the amount of money that your accounts say should be in your account is the same as the amount of money actually in the account (and that the right transactions have happened).

However, our accounts are now managed by QuickBooks and QuickBooks automatically imports all it's information from the bank - so they are automatically in sync and the reconciliation is done trivially unless something is messed up elsewhere in QuickBooks.

So it's not obvious if this remains relevant (it was relevant at the time of the report...)

What should we do?