YEAR-END: What to do?

ACCOUNTING EFFECTS OF A DEPOSIT MADE THE FOLLOWING YEAR for a donation made the previous year

ACCOUNTING EFFECTS OF A DEPOSIT MADE THE FOLLOWING YEAR for a donation made the previous year
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Revised on November 11th, 2015
ANSWER: This deposit made at the bank the following year (in 2015, for example) for donations processed in the books the year before (in 2014, for example), becomes an OUTSTANDING DEPOSIT and it appears in the Bank Reconciliation of December 31st.  Since it has not been deposited in the bank by December 31st, it then does not appear on the bank statement of December 31st.

For more details, scroll THE RIGHT MARGIN OF THIS WEBPAGE to find answers to the most common questions on this subject.

This situation (of an outstanding deposit that appears in your monthly bank reconciliation) can happen during the year if the last Sabbath of the month falls on the last or before the last day of the month.  The physical deposit of donations entered in the books on a Saturday that falls on the last or before the last day of a month (while the banks are closed) appears on the bank statement of the next month since it is processed the following business day only.
Revised on November 11th, 2015
QUESTION: Are we allowed to deposit in the following year donations that belong to the previous year?

ANSWER: YES, but only for those donations received BEFORE 11:59 pm on December 31st or received in January by mail for which the postmark on the envelope shows December 31st or before.

QUESTION: How to enter in Donation Accounting this new deposit beside the one made for the last Sabbath of December?

ANSWER: By entering all the envelopes of this late deposit (in Donation Accounting: Entry Menu / Offering Detail Entry) using a different date (at the end of December) than the date used for the last Sabbath.

So, by entering all those donations received at the end of the calendar year as ANOTHER deposit after the last Sabbath (that is, donations that are not included in the deposit of the last Sabbath of the year),
1) You will deposit it by itself in the next year.
2) It will show on the Remittance Report of December as another deposit, that is outstanding in your bank reconciliation of December 31st.

Revised on November 11th, 2015
QUESTION: WHEN must I close the year in Donation Accounting and get to the next one?

ANSWER: See HERE.

QUESTION: WHY must I wait until the beginning of January before closing the books of December?

ANSWER: See HERE, on the right margin of the webpage.