Re: [802SEC] Q1 IEEE 802 LMSC Data in NetSuite.

["Benjamin A. Rolfe" <ben@BLINDCREEK.COM>]

Is this requirement being imposed upon all treasuries i.e. also the wireless treasury?
Has any other IEEE-SA sponsor that has a treasury found a way to do this efficiently?

Let me see if I understand.  IEEE has mandated reporting requirements. IEEE has mandated a reporting tool that does not meet the reporting requirements IEEE has mandated.   Someone in IEEE staff expects the volunteers to work around the limitations of the mandated tools to be able to provide the mandated documentation.   Is that the thumbnail?

Just want to be sure I understand the situation.
Thanks
Ben

On 7/21/2015 10:40 AM, Clint Chaplin wrote:

Dear all,

It turns out there is an additional IEEE requirement to attach supporting documentation to every transaction $1,000 and above.  This has not been done yet, but I will be working away at it.

However, there is currently no way to automate this process in NetSuite; it requires someone to manually touch every transaction $1,000 and above to attach the documentation.  The upload template that IEEE is looking into for us, will be incapable of doing such documentation attachment.

This is a problem for IEEE 802 LMSC.  For example, many of our credit card deposits are $1,000 and above.  I just did a survey of IEEE 802 LMSC's finances for the first half of 2015, and 206 out of 322 transactions are $1,000 or more.  The only documentation that I have for credit card deposits are the monthly Wells Fargo checking account statement and the monthly credit card merchant account statement.  Given an envelope calculation, I will essentially be attaching the exact same documents to approximately 30 transactions each month.  Manually.

This is not a problem for 2015, in that we did receive special dispensation for 2015 only to consolidate similar transactions on a monthly basis.  But for 2016, I may just quit rather than face the effort that is being required upon us.

On Fri, Jul 17, 2015 at 7:46 PM, Clint Chaplin <clint.chaplin@gmail.com> wrote:

FYI

---------- Forwarded message ----------
From: Clint Chaplin <clint.chaplin@gmail.com>
Date: Fri, Jul 17, 2015 at 7:43 PM
Subject: Re: 1Q 2015 data in NetSuite-due by 7/31/2015
To: Diane Mistretta <d.mistretta@ieee.org>, Paul Nikolich <p.nikolich@ieee.org>, Yatin Trivedi <Yatin.Trivedi1@synopsys.com>, Karen Kenney <k.kenney@ieee.org>
Cc: Juanita Lewis <juanita.lewis@ieee.org>

Dear all,

All known financial data for IEEE 802 LMSC for the first quarter of 2015 has been entered into NetSuite.  The data for the 2015-01 Atlanta and 2015-03 Berlin departments has been finalized, but are not verified nor audited.  The data for the other departments has not been finalized, verified, or audited.  2015 Berlin is missing one transaction that I cannot enter as an account payable because I do not even know the amount.

All bank statements for the first quarter have been reconciled.  Reconciled only verifies that the correct amounts are present; reconciliation is no guarantee that the transactions have been put into the correct accounts.

--

Clint (JOATMON) Chaplin
Principal Standards Engineer
Samsung R&D Institute America

--

Clint (JOATMON) Chaplin
Principal Standards Engineer
Samsung R&D Institute America

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