QuickBooks Online and Qvinci

QuickBooks Online (QBO) is the business accounting platform utilized by AYSO. It integrates with DIVVY and online bank services to download transactions. Treasurers can easily code transactions, reconcile bank statements and credit cards, and produce reports.

Qvinci is a third-party platform that consolidates individual QuickBooks accounts for territory (Section and Area) and Organizational visibility and reporting. Qvinci is an authorized reseller and support center for QBO. AYSO has partnered with Qvinci to provide QBO licenses, training and support. Qvinci’s primary purpose is to relieve the Regional Treasurer from the difficult and time-consuming task of preparing and filing periodic financial reports with federal and state agencies.

The financial transactions of all the Regions, Areas, Sections and the AYSO National Organization are consolidated into financial reports which are filed monthly as well as an annually by the AYSO Finance Department with the federal and state agencies in order to preserve the Organization’s tax-exempt status. If you have questions regarding state tax or reporting, please contact the Finance Department prior to contacting the state directly.

For this reason, it is recommended for all Regions to enroll their bank accounts in QBO [LB1] [BL([2] (Standard Regional Policies and Protocols, Article Eight, A.). Regions that do not use the accounting program of record (currently QBO) must supply bank statements and/or financial statements as per the financial policy. Contact the AYSO Finance Department for more information.

ENROLLING IN QUICKBOOKS

If you are opening a new account, closing a bank account, moving an account to a different financial institution or simply enrolling an existing account in QBO, please contact the AYSO Finance Department

Enrolling in QBO allows the Finance Department to provide the following services to the Region for each account:

• Creation of a Qvinci financial worksheet for each bank account showing:
• Activity for the month.
• Year-to-date cumulative totals.
• Ending cash balances of the Region’s bank, savings and investment accounts.
• As Regions post a .pdf copy of the monthly bank statement in QBO after it arrives are immediately available to the AYSO Finance Department.
• Monitor regional accounts to verify they are being reconciled on a monthly basis for more accurate reporting.
• Process all year end reporting and create tax statements as needed with minimal interaction with Regions.

All bank accounts should be linked to QBO to allow for downloading of transactions and ease in reconciling transactions. See ### for more details on how to link your accounts.

NOTE: THIS IS WHERE WE WILL ADD IN LINKS TO THE VARIOUS WIKI ARTICLES ON SET UP QBO AND DIVVY

The official Regional Commissioner Treasurer, and Auditor of record for a Area or Section are able to access all the Qvinci financial worksheets and bank statements.

Areas have access to all financial reports for the Regions within the Area, and Sections have access to all financial reports for the Areas & Regions within the Section.

AYSO CHART OF ACCOUNTS

The AYSO Chart of Accounts (CoA) includes separate 4-digit general ledger account codes for coding revenue and expenses.

Not using the 4-digit codes and instead, writing in words, leaves the check open to interpretation by others and possible errors in coding. For example, by writing in the word, ‘Tournament’, in the check memo section, one will have to decide on at least 10 different accounts that have the word, ‘Tournament’ associated with it.

The Chart of Accounts can be found in the Wiki at: [Add link]

Regions can create new account categories to fit the financial reporting needs for the Region. To do this, and for consistency of financial reporting from an organizational basis, it is necessary to select a parent account from which the new account can be nested. Follow the steps below found at Adding an Account to Chart of Accounts - AYSO Wiki to create these account in the Region's QuickBooks account.

REGIONAL TREASURER RESPONSIBILITIES

In order to comply with the requirements of the AYSO Finance Policy, the Regional Treasurer must:

• Code all checks according to the accounting codes on the AYSO Standard Chart of Accounts.
• On a monthly basis, reconcile bank statements and credit cards and upload bank statements to QBO. For Regions that are not using QBO, contact the AYSO Finance Department to receive a link for where to upload statements.
• Report suspected financial irregularities to the RC when appropriate, or if necessary, immediately to the Finance Department.
• Act as the Region financial manager, receiving all financial reports and bank statements, including Cultural Exchange and Tournament accounts. The Treasurer, in turn, should distribute these financial records within the Region, and at board meetings as appropriate.

CODING GUIDELINES

All account entries in QBO and on checks are assumed to be for the regular, primary program. Codes should also be recorded in any check register or accounting system and on all corresponding receipts.

Write the appropriate account code in the “memo” section of every check issued by the Region (in the bottom left corner).

• Multiple codes: If more than one code is needed, indicate the amount which applies to each code.
• Sub-accounts: Regions can use sub-accounts for its own internal purposes. For example: 7625-01 Office Supplies – paper

7625-02 Office Supplies – computers

DEFERRALS IN QBO

A deferred account is an account that is recognizing revenue for a future period. Code 2510 is for registration fees that are collected

before the end of the current fiscal year (June 30) and deposited to the Region’s bank account for the following season (starting in the next fiscal year). Once the new fiscal year begins (July 1), these deferred funds that have been deposited are then transferred to registration fees (4005) for the new fiscal year.

For example, a Region that collects registration fees for Fall 2020 in April 2020, should code these fees to code 2510 (Deferred Registration Fees).

Current Date	Fees for which season?	Code
April, 2020	Fall 2020	2510
April, 2020	Spring 2020	4005
December, 2019	Fall 2020	2510
July, 2020	Fall 2020	4005

Failure to code registration deposits (Fall 2020) to the deferral account (2510) will result in these deposits being applied to the incorrect year’s revenue, in this case, the Fall/Spring 2019 registration account.

Deferred Revenue – AYSO Wiki

NOTE: THIS IS WHERE WE WILL ADD IN LINKS TO WIKI ARTICLES ON ANY OTHER QBO AND QVINCI