[GNC] BotanyBayGardens nonprofit example, and why GnuCash does not suffice

[Michael or Penny Novack]

On 7/26/2020 11:39 AM, John Ralls wrote:

> Did nobody read the footnote? The book was published in 1985, long before electronic payments became widely available. No doubt the 2020 edition would say something like "independently documented transfer" with a mention somewhere that that used to mean a check but now covers a variety of payment methods.
>
> Incidentally, the textbook also says that checks should ideally require two signatures. I don't know how to impose that control over electronic transfers but the local newspaper reports two or three cases of embezzlement a year where it's obvious that a two-person control would have prevented the crime.
>
Even today, just because you CAN use "electronic checks" doesn't mean 
you would want to. That's going to depend on the average number of 
checks per payee since a bank transfer requires knowing/storing the bank 
routing number and account of each. To use the organization where I have 
FINALLY been relieved as treasurer, perhaps 50+ different payees but 
rarely more than two checks to the same payee in a year. SOME payees, 
like for governmental filing fees provide a site, might even require 
electronic payment. But only a couple of those payments n a year.

So if an orchard manager sent in a envelope of receipts for 
reimbursement, that would have a return address to mail a paper check 
to. It's only the less well off that would be sending me receipts like 
that, a few at a time. The ones well off might just save up a bunch and 
hand them to me at the next board meeting and I write them a check then 
and there.

Best solutions depend on the work flow. The work required to obtain the 
bank information for a direct transfer is more than the work of 
writing/mailing a check. More than doing it twice. But if you are going 
to be doing it ten times (to the same payee) getting the bank info might 
be quicker.

Michael D Novack