9-4 Deposit account maintenance
Purpose: Maintenance and monitoring of our deposit account funds.
Gobi deposit accounts: All books and serials that we purchase through Gobi are automatically paid for through deductions from our deposit account. Purchases made from accounts 5718-08, -20, -69, -80 all come out of our large deposit account. Purchases made from account 5718-07 (our Canadian book approval account) come out of a separate smaller deposit account designated just for those purchases.
- Shipments from Gobi: We receive shipments with invoices included. We do not want to generate a payment when we enter these invoices into Sierra because by this point Gobi has already deducted these monies from our account. We process them as a “/_z_” in Sierra in order to apply these expenditures to our respective funds. These invoices do not go through interface.
- Gobi statements: We will receive a statement from Gobi once a month via email for both deposit accounts. Verify that the invoices, credits, and deposits for the previous month listed on the statement match what we have received or sent on our end. This can be done by checking the paper copies of the invoices, credits and deposits on file, or by checking our Gobi invoice history in Sierra. Notify Gobi of any descrepencies. Save all statements.
- Gobi deposit account replenishment: The deposit accounts need to be replenished periodically. The head of collection development or library business manager will notify you when this needs to be done. Determine if the deposit is being made to our large deposit account or our smaller, Canadian approval deposit account.
- When deposit payment will be made using only general account funds (non-gift account funds): Contact our Gobi rep and request a deposit account invoice for the amount requested. Ask that the invoice description read “For purchase of library materials”. Be sure to indicate which account the funds will be deposited into. Our large deposit account is 5718-11 (an umbrella account for -08, -20, -69, -80), and our Canadian approval account is 5718-07. When invoice arrives, pay on order record# .o7828421. Do not “/_z_” deposit invoices. These need to go through interface. Process as you would an invoice that requires payment. The vendor code in this record (yab) is connected to Mainestreet vendor (note that the Mainestreet vendor is named Yankee Book Peddler. This is the old name of Gobi and is ok as is. We pay them via ACH.).
- When deposit payment will be made using only gift account funds or a combination of gift account funds and general account funds: Before requesting an invoice, you will need to make a review file of all gift account purchases made via Gobi since the last time a deposit using gift funds was made. Go back in the invoice history and find the end date of the last review file search. Use the following day as the beginning of the current review file search. (Note: you do not do this step when you are paying using general account funds.)
- Review file search criteria: Order records>vendor has “ybp”>fund between “r” and “rz”, fund is not equal to “ra61”, paid date between mmdddyy and mmddyy (last beginning date mentioned above and the current date).
- When review file is complete, create a statistical report that give a breakdown of expenditures by gift fund code. Go to Statistics>New Query>choose your review file>cross tab>uncheck “limit results by time range”>choose “vendor” and “fund” for the vertical and horizontal axes. Run the query
- When report is complete, highlight your file and click “view report”
- Highlight “$ Payments” for a breakdown of expenditures by fund.
- Print out a copy for your records by exporting to an Excel sheet (attach to invoice once you receive it). Delete your report from the list.
- Request invoice for the total amount. If general account funds are also going to be used, add that to the gift account total and request that amount.
- When invoice arrives, you will pay it in Sierra (as mentioned above) on order record # .o7828421. The fund code for that record is pla0. This links to the general account.
- Once paid in Sierra, fill out the yellow slip. You will need the Excel sheet of the fund breakdowns. Write the 10-digit account number for each gift fund code on its own line, with the corresponding amount. If general account funds are to be paid, enter that account number and amount as well. Total and give to head of collections for signature.
- When invoice goes through interface, contact the library business manager to let them know that they will need to adjust library gift accounts using the information on the yellow slip. Because the order record used to pay the invoice in Sierra could only link to one fund code (the general account), the business manager needs to complete the rest of the fund payments in Mainestreet after the fact.