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

[will at theprescotts.com]

Recently someone called the treaurer of a group associated with mine. They told her the chair of the group had an emergency and needed funds. The treasurer did not have access to their Paypal account so he sent funds from his personal account. It turned out to be a scam. Actually a pretty well known scam. You get a call or email that a friend or relative has lost their purse or wallet and cell phone and needs funds immediately.

Apparently, they are targeting organizations now.

Be careful out there,
Will

On 2020 Jul 26, at 07-26 11:25:10, Michael or Penny Novack <stepbystepfarm at comcast.net> wrote:

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


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