Account Reconciliation Process

Flowchart and Responsibilities
Kellogg/SOFO Representative:
- Receive monthly statements from SOFO
- Give each Treasurer a monthly statement
- Keep copy of statements in Kellogg/SOFO files

Club Treasurer:
- Reconcile monthly statement using Excel SOFO Account Register and voucher/receipt copies
- Maintain file of account statements, checks and transactions for reference and to pass on to next Club Treasurer
- Expect to submit Excel SOFO Account Register at the beginning of each quarter for quarterly reconciliation review

Monthly SOFO Statement
A monthly statement detailing transactions during the previous month and the ending account balance is distributed to the Club Treasurers by the 10th of every month. The monthly statement should be reconciled to the SOFO Account Register each month by the Club Treasurer. If you find errors in the monthly statement, bring them to the Kellogg/SOFO Representative for investigation. See the SOFO Statement Example. Also see the key to the SOFO Statement's Comment Field Key.

Keeping an Account Register
At the beginning of the year, the Kellogg/SOFO Representative provides each Club Treasurer with an Excel Account Register file (Excel 38KB), to be used to keep track of the club account activity and the current account balance. Every Club Treasurer should keep an account register of all transactions such as deposits, payments, money transfers and CUFS charges.
See the account register example (Excel 40KB).