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We had sunshine for most of all possible hours of daylight yesterday...that would be OVER 23 darned hours!!!! June 21st we'll be at 24 hours of daylight. I can't sleep again til September.

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I think you just made a lot of BOL'ers recall the movie "Insomnia".

Hey guy (and gals), we have a new Frivolty Thread compliments of MBG. Check it out.

I think I found your squirrel, but he changed his name and has been wreaking havoc by posting condescending comments. Please come claim him and take him back to Frost Bite Falls to chill out!

In honor of Friday and AG, stay strong brother.

::wonders if Peepers' revival will stay::

::jumps up and down clapping at reading the words "Friday Frivolity"::

Yippie!!!

I miss Friday Frivolity!

Me too.
It was back when BOL was mostly compliance with a dash of the cooler type stuff mixed in. Back to searching in the compliance threads...unless you have any best practices for reviewing debit and credits to the GL?

In general or what I do for audits?

Both.
We're looking for authorization procedures. Right now I think that we're in a good place by having only those authorized to sign an expense check be authorized to approve a GL debit or credit. But do I have a hole in the process?
And then are there banks still reviewing the tickets prior to processing.

And is it wrong to post bank control questions in the cooler, me, hu, ha, ha, ha?!?!

Yes! take it to a serious thread

I dont have a problem with your question being posted here.

Are you allowing only one set of initials on GL entries? We do and I dont like it. I'd at least like to see two sets if the entry/amount is over XXX. I'm digging through our Accounting Policy and Procedures right now...if I find something useful, I'll email you.

During audits I generally pull all entries from a GL (let's say Miscellaneous Expense) for a period of 3-6 months (depending on the risk of the area) and then pull a sample from there. Depending on the risk level I might go as low as 5% (or if there are an extreme amount of entries I might just pull 25-50 entries) and then verify to source documentation. If there are no significant exceptions I stop there and all is well...or if there are an extremely high number of exceptions I stop there and tell them to fix it before digging any deeper.

Procedure states - Any Expense Account (Starting with a 5 or 8) being debited or credited must have approval. So yes, we do require what you wish you had

But then I wonder, is necessary to have approval on a credit? It's a Friday afternoon the brain is mushy.

I found out that I most likely lost hearing in my left ear after a childhood ear infection. However, I tell most people it happened in a freak shooting accident when I was 10. I don't know why I lied, I suppose it just sounded better than the truth. I really don't know why, now. Come to think of it, the only shooting accident in which I was involved required the police coming to our home. Man, was I scared. But what Kirk G did afterwards was to tell everybody in our middle school that I attacked him, pinned him to the ground, said "Die m f" and pulled the trigger. Funny thing is, the only damage done was his glasses lens being shattered and a scratch on his face. Funny, isn't it? So then, then Kirk told Toby to beat me up after class the next week but Toby was a bear. A real teddy bear. Wouldn't hurt anyone. See, Toby, he came up to me after our science lecture and told me what Kirk asked him to do. That Toby sure was a nice guy. Big and mean looking, he was, but dumber than a bowl of peas. But nicest guy ever. Really. But that Kirk, well he just didn't get past the shooting incident. What a class act. Told me at my graduation that he was gonna get me for shooting him. I guess the five years that passed dwelled on him. Can't say I know where he is these days. Can't say I even want to know.

So, that's my story of things lost and found. Or found and lost. Because sometimes you really can't tell the difference and others it's painfully clear.

Ah, the good old days. ::claps wildly::