We have provided the following accounting tasks for Credit Unions:accounting_hand
 
  • Process payroll through ADP and Paychex.
  • Tracked Vacation, sick, personal time on Excel, as well as, through payroll systems above.
  • Accounted for pension and 401(k) benefits for employees and employer’s share of cost.
  • Forwarded pension and 401(k) information to the third party administrators.
  • Processed payments for the above.
  • Recorded and paid all approved invoices on a periodic basis.
  • Prepared all journal entries on a daily and monthly basis.
  • Performed periodic cash counts of teller drawers and vault counts with reconciliation.
  • Monitored cash on hand balances for excess.
  • Determined balance required in operating account and managed same.
  • Set up data processing modules for (where no module existed, excel was utilized): FASB 91 accounting regarding points and deferred costs. Prepaids and accruals Fixed assets Investments, (cds, fed agency notes and bonds, mortgage backed securities)
  • Accounted for Fannie Mae mortgages serviced by credit unions, provided accounting report and payment to Fannie Mae.
  • Handled all correspondence from taxing authorities.
  • Prepared 990 return for state chartered credit unions.
  • Gathered investment information for ALCO with recommendations for purchase including laddering maturities.
  • Prepared or reviewed account reconciliation for balance sheet accounts either on a daily or monthly basis. Maintained the general ledger.
  • This included daily controls for ACH and sharedraft clearing accounts and recorded any journal entries required or adjustments to members’ accounts.
  • Daily reconciliation of debit card settlement account, credit card account(s), official checks, money orders, loan checks, club checks. Some of these accounts were through corporate credit unions.
  • Prepared reports for Board meetings.
  • Performed monthly closings, downloaded system financials (Balance Sheet & Statement of Income) to summarized GAAP and NCUA format.
  • Prepared monthly statement of Cash Flows.
  • Prepared allowance for loan losses schedule including recommended adjustment to the ALLL account. Prepared quarterly 5300 Call Report.
  • Prepared schedules, as required, for external and internal auditors. Followed-up on auditors’ recommendations.
  • Worked with regulators during exams. Prepared responses where necessary to exceptions.
  • Worked with Supervisory/Audit Committees. Performed daily back-up (end of day procedures) of in-house system and changed system date. Performed same for end of month and end of quarter.
  • Participated in system conversions and upgrades.
  • Responsible for budget process and comparison to actual results.
  • Prepared proforma financials for strategic plan process.

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